NY Times Article Should you Walk Away From Your Mortgage?

http://bucks.blogs.nytimes.com/2010/01/27/should-you-walk-away-from-your-mortgage/

10 Cities Where It's Smarter to Buy

For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years. Here are the top 10 cities the magazine chose as the best places to buy right now.

Boston-Cambridge-Quincy, Mass.
Charlotte-Gastonia-Concord, N.C.-S.C.
Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
Cincinnati-Middletown, Ohio-Ky.-Ind.
Denver-Aurora-Broomfield, Colo
Minneapolis-St. Paul-Bloomington, Minn.-Wis.
Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
Portland-Vancouver-Beaverton, Ore.-Wash.
San Francisco-Oakland-Fremont, Calif.
Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.

Source: Forbes, Francesca Levy (01/21/2010)

Buyer - Distressed Property, Which Is Right For You?

A good article from Attorneys Prousalis & Papantonakis, P.C.

http://www.proandpaplaw.com/Articles-Index/The-Business-of-Distressed-Properties-Which-Type-of-Home-Is-Right-for-You.shtml

What's New: New credit card protections in store this year

The new Credit Card Accountability, Responsibility and Disclosure Act of 2009 (CARD), which is designed to protect consumers from unfair credit practices, generally takes effect on February 22, 2010. Here's a summary of several key provisions.
-Introductory rates offered by credit card companies must remain in effect for at least one year (six months for promotional offers). Consumers must receive at least 45 days' notice (instead of the current 15 days) before a rate hike. (This provision became effective August 20, 2009.)
-Companies will be required to mail credit card statements at least 21 days before the due date (seven days longer than before).
-Issuers can't raise rates on an existing balance unless you're late by 60 days or more.
-Credit card payments will be applied to debt with the highest interest first. Currently, companies do the opposite.
-Double-billing cycles, the practice of basing finance charges on both the current and previous balance, are banned.
-To reduce "over-the-limit" fees, companies must obtain a cardholder's permission to process transactions above their personal limit.
-Consumers must be notified how long it will take and how much it will cost to eliminate debt through minimum monthly payments.
-Applicants under age 21 won't qualify for a credit card without showing an ability to pay or a co-signer.
-Statements must prominently display fees paid to-date as well as explanations for those fees.
Courtesy Lauren Bakken & Associates CPA

Fannie Mae Deed For Lease Program

Another option.... sign deed over to the lender and rent your property without having to move.
https://www.efanniemae.com/sf/servicing/d4l/

HMP and HAFA Government Programs

Home Affordable Modification Program
www.hmpadmin.com

Home Affordable Foreclosure Alternatives (HAFA)
Please contact me for more info. Takes effect April 15 2010

Steve Harney's Blog

One of my favorite places for news on the market and all it encompasses! Check it out!
http://kcmblog.com/

U.S. Courts Bankruptcy Basics Video Series

http://www.uscourts.gov/video/bankruptcybasics/bankruptcyBasics.cfm?