Archive | January, 2013

FHA to hike premiums on mortgages

Government-insured mortgages are about to get more expensive. The Federal Housing Administration, which is the largest insurer of low-down payment mortgages, announced Wednesday that it will raise premiums by 10 basis points, or 0.1%, on most of the new mortgages it insures.   click here to read more

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Home prices post biggest jump in 6 years

Home prices in 20 major U.S. cities were up 5.5% in November compared to a year earlier, their biggest jump in more than six years. The latest reading of the closely watched S&P Case-Shiller index is another sign of the growing recovery in the long-battered housing market.   click here to read more

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Housing to drive economic growth (finally!)

The bursting of the housing bubble plunged the economy into a recession from which it has yet to fully recover. But economists say this could finally be the year that housing lifts us out of the doldrums.   click here to read more

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New rules aim to protect homeowners from foreclosure

Federal officials issued new rules for mortgage servicers Thursday aimed at protecting homeowners facing foreclosure. But consumer groups say the rules don’t do enough to help prevent borrowers from unnecessarily losing their homes. Since the housing crisis began, many mortgage servicers — which collect payments for the owner of the loan and handle things like loan […]

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Top 10 destinations for vacation rentals in 2013

Here’s a shocker of a travel headline: Florida is an exceptionally popular destination, especially in winter. The latest source to confirm this slice of travel conventional wisdom is vacation rental site FlipKey, which has released search data revealing its top reservation requests for 2013. Of the top ten destinations in FlipKey’s network, seven are in […]

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Homemade survival kits battle the flu

(CNN) — The early flu season has spiked a fury of “germaphobia” across the United States as the Centers for Disease Control and Prevention warned that the flu has reached epidemic levels. Widespread activity is projected to continue. As the fear of contracting the flu spread, so did the trend of crafting flu survival kits. Photo-sharing communities […]

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Why You Should Visit Palm Springs Now

More sophisticated than Vegas, more laid back than Los Angeles — and in winter, more reliably sunny and warm than either one — Palm Springs is one of those places that looks awfully good to an awful lot of people at this time of year. Not that the weather is its only calling card. This […]

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Palm Springs Preservation Foundation

The Palm Springs Preservation Foundation is a non-profit organization whose mission is “to educate and promote public awareness of the importance of preserving the historical resources and architecture of the city of Palm Springs and the Coachella Valley area.”   click here for events and to read more

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Banks to pay $8.5 billion in foreclosure settlement

Federal regulators announced an $8.5 billion settlement on Monday involving 10 banks over alleged foreclosure abuses. The deal — termed an “agreement in principle” — was brokered by the Federal Reserve and the Office of the Comptroller of the Currency. It includes $3.3 billion in direct payments to borrowers as well as $5.2 billion in […]

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Bank of America in $10 billion settlement with Fannie Mae

Bank of America has reached a $10.3 billion settlement with Fannie Mae to deal with questionable home loans it sold to the government-backed mortgage financer during the housing bubble. BofA (BAC, Fortune 500) will pay $3.55 billion in cash to Fannie as part of the deal. It will also repurchase 30,000 questionable mortgages that are likely to produce […]

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