Real Estate: What Are Short Sales?

Short sales may mean major money to real estate buyers and easy exits for troubled homeowners. But if you're a first time homebuyer, our Money Talks editor Stacy Johnson explains, it's not as easy as some may want you to think it is. This video runs 1:33…

Know anyone who has bought a property in a "Short Sale" situation? We'd love to hear about it, and so would our other readers. Please post any comments about Short Sales below by clicking the "comment" link. Your privacy is protected… we never publish email addresses of any authors who comment here.

Interest Rates: Will the Fed Hike Rates?

Even as they grappled with inflation worries, most Federal Reserve officials at their August meeting didn't believe the Fed's key interest rate was too low given harder-to-get credit conditions straining consumers and businesses alike.

The Fed, at its Aug. 5th meeting, decided to hold its key rate steady at 2% for the second straight meeting. Confronted by problems at every turn — rising unemployment, shaky growth, credit troubles and creeping inflation — the Fed took a gamble that once again the best move was none at all.

Some analysts believe, looking ahead, the next direction for rates is probably up. Fed Chairman Ben Bernanke recently signaled that rates would likely stay at 2% at the Fed's next meeting on Sept. 16, and probably through the rest of this year. Some fear that keeping rates at this level, a four-year low, could aggravate inflation down the road.

What do you think? Will the Fed be pressured into raising rates in the foreseeable future? Or will they play it low-key until after the elections in November? We'd love to hear your opinion. Just use the "comment" link below to sound off on this topic.

Recession? Are You Better Off or Worse Off?

It's been seven years since the last recession. Times are tough once again. We'd love to hear your feedback on the question in the Subject Line above…

Are you Better off, or worse off, than during the last economic downturn?

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Pricing Your Home in a Fall(en) Market

It's not new news. Real estate markets everywhere have fallen. If you're trying to sell your home, or even thinking about putting your house on the market, pricing the home to sell quickly can be the trickiest part of all.

Our Money Editor, Stacy Johnson, has some advice on pricing your home to sell. This short video runs 1:37…

Trying to sell your home this fall? Thinking of buying a home now? Tell us what you think about the current market. We'd love to hear your comments. Use the "Comment" link below to sound off…

How to Come Up With a Down Payment

Not long ago, no-down-payment loans were big for homebuyers. But now that lenders have tightened their standards, borrowers once again are expected to pony up some cash of their own for a down payment.

Many homebuyers have difficulty coming up with a down payment. Here are some ways to do it:

• Set up an automatic saving plan.
• Get a gift from your parents, grandparents, other relatives or friends.
• Sell a car, boat, motorcycle, collectibles or other assets.
• Liquidate stocks, mutual funds, savings bonds or other investments.
• Allocate your income tax refund.
• Take a loan from your 401(k) retirement plan and repay yourself with interest.
• Withdraw funds from your 401(k) plan, subject to taxes and penalties.
• Collect on a loan that you made to someone else.
• Get a bonus from your employer.
• Explore homebuyer programs for public servants if you qualify.
• Apply for a state or local government down-payment program.
• Use a private down-payment assistance program.

Lenders need to know how you obtained the funds and that you've had control of those funds for at least several months.

Gifts and seller's concessions are acceptable, up to the percentage allowed by the loan program, but borrowed money can't be used as a down payment, as it is debt that has to be repaid.

Two government-run programs are designed to aid homebuyers who haven't saved much for a down payment. The Federal Housing Administration offers mortgage insurance that allows qualified buyers to purchase a home with a 3% down payment, all of which may be a gift. The U.S. Department of Veterans Affairs offers a home-loan guarantee program that helps military veterans buy homes with no down payments.

Conact us for more information on this article, or if you have questions pertaining to anything we wrote in this article. Use the comment link below to do that, and rest assured, your privacy is protected, we do not publish email addresses at this stie.