home equity

Why I'm Happy Losing Money as a Landlord

This accidental landlord loses money on his rental property every month. But he's OK with that. How his long-term plan can help him save his equity and someday turn a profit.

5 Pillars of the New Financial Reality

It's a new financial order when it comes to planning for retirement, which means you'll need to adjust your strategies accordingly. Here are five ways to start.

Oh, Canada! Americans' Northern Neighbors Are Now Richer

The U.S. may be the "land of opportunity," but Canadians are making out better. In the past five years, the net worth of Canadian households has surpassed that of their American counterparts for the first time. And the reasons why will be as depressing for Americans as the news itself.

Bad 'Dream': Renters Often Do Better than Homeowners

Becoming a homeowner is a rite of passage in America, while renting gets no respect. But when you look at how we really live, it turns out that, even ignoring the recent crash, home ownership isn't the great deal for our finances that we've been led to believe.

Bernanke: Weak Housing Has Hurt Consumer Spending

Ben Bernanke says declines in home prices have forced many Americans to cut back sharply on spending warns that the trend could continue to weigh on the economy for years. The Federal Reserve chairman drew the connection between home values and consumer spending, which fuels 70 percent of economic activity, on Friday during a speech to the National Association of Home Builders in Orlando.

Reverse Mortgage Alternatives For Cash-Strapped Seniors

The two biggest banks in the reverse mortgage business are getting out of it. Now, Bank of America and Wells Fargo accounted for less than half of the reverse mortgages in America, and other lenders are still writing them. But for cash-strapped seniors, it might be a good idea to explore alternative ways to stay in their homes.

Housing 2011: Unsettled, Underwater, Unsold

Housing market watchers got a bit of good news Thursday: Sales agreements for previously occupied homes rose 10.4 % in October. But that was one spark of hope against a backdrop of declining prices, bulging inventories and ongoing legal issues around foreclosures. A real estate recovery in 2011? Don't count on it.

Owning a Home No Longer Guarantees Wealth

In the period beginning with the close of World War II and right up to 2005, buying a house opened up a pathway to upward mobility even for those without college degrees. But the great American housing bust has dramatically changed that dynamic. Can it ever come back?

Home Prices Are Still Far From Affordable

You may not want your home's value to fall any further, but numbers don't lie: Adjusted for inflation, houses cost almost twice as much as they did in 1975, and relative to average income, they're 40% higher. It's unaffordable, and with 15% of houses vacant, it's clearly unsustainable.

White Collar Reset: Kidney for sale?

In my last installment, I entertained the notion of opening a medical marijuana store in the New York City suburb my wife and I call home. This week,...

Home equity lines being frozen

Many homeowners have a home equity line of credit (HELOC) available to them. Some have used the equity lines to make improvements or consolidate...

Where to borrow money in a pinch

I'm not a big fan of debt, especially if you're already swimming in it. Debt is something that should be used very carefully and strategically. A...