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Home Buying & Financing
 Websites presented in alphabetical order About Fannie Mae 
 Overview of the private corporation that was originally established by the federal government in 1938 "to expand the flow of mortgage money by creating a secondary market." Provides a history of Fannie Mae and an overview of its efforts to increase "the availability and affordability of homeownership for low-, moderate-, and middle-income Americans." Further information about Fannie Mae can be found in the FAQ section of this official website. http://www.fanniemae.com/aboutfm/index.jhtml?p=About+Fannie+Mae Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Jun 20, 2007 American FactFinder
Uses Census Bureau data--population, housing, economic, and geographic--to create tables, reports, and maps down to the census block level. Data sets are listed by program area (census or survey) and year. Site includes community profiles; data on age, education, income, and race; home values, ownership, and mortgage information; and information on foreign trade, governments, and housing starts. Searchable by keyword or place name. Includes tutorials and a glossary. http://factfinder.census.gov/home/saff/main.html?_lang=en Topics: Business, Consumer Research & Advocacy, Federal (U.S.) Government, Ready Reference & Quick Facts, Social Science, Statistics Last updated Nov 24, 2003 Buying a Home
Website for homebuyers includes common questions from first-time homebuyers; rights of a homebuyer; calculating how much mortgage you can afford; dealing with a real estate agent; various homebuying programs; and information on inspections, appraisals, and homeowner's insurance. From the U.S. Department of Housing and Urban Development. http://www.hud.gov/buying/ Topics: Consumer Research & Advocacy, Housing Last updated May 1, 2007 Can I Just Walk Away From a House and Its Mortgage?
A personal financial columnist briefly explains how walking away from a mortgage can be detrimental to your credit rating and could make it difficult for you to buy another home for some time. Also describes how alternatives such as foreclosure, deed in lieu of foreclosure, and short sales can also negatively affect your credit score. http://asklizweston.com/2005/06/13/can-i-just-walk-away-from-a-house-and-its-mortgage/ Topics: Consumer Research & Advocacy, Housing Last updated Jun 25, 2009 CBO's Estimate of Cost of the Administration's Proposal to Authorize Federal Financial Assistance for the Government-Sponsored Enterprises for Housing
July 2008 report from the Congressional Budget Office (CBO) "that analyzes the Administration's July 14th proposal to provide temporary authority to the Secretary of the Treasury to purchase obligations and other securities issued by Fannie Mae, Freddie Mac, and the Federal Home Loan Banks." The CBO estimates the expected federal budgetary cost to be $25 billion over fiscal years 2009 and 2010. Also includes a CBO blog entry on the topic. https://www.cbo.gov/doc.cfm?index=9574 Topics: Consumer Research & Advocacy Last updated Sep 10, 2008 Don't Be a Victim of Loan Fraud
"Every year, misinformed homebuyers, often first-time purchasers or seniors, become victims of predatory lending or loan fraud." This consumer information resource from the U.S. Department of Housing and Urban Development (HUD) provides a definition of predatory lending, tactics used by predatory lenders, and tips on buying and financing a home. Includes a link to a list of HUD's housing counseling agencies. http://www.hud.gov/offices/hsg/sfh/buying/loanfraud.cfm Topics: Business, Consumer Research & Advocacy, Corruption & Fraud, Housing, Investing, Money Last updated Oct 14, 2003 Financial Education and Tools
Contains information and interactive planning tools on savings, budgeting, home and car purchasing, investing, loans, education, retirement, and estates. From Bank of America. http://www.bankofamerica.com/financialtools/ Topics: Automobiles, Consumer Research & Advocacy, Finance, Housing, Investing, Jobs & Work, Money, Seniors Last updated May 29, 2005 ForSaleByOwner.com
Database of homes for sale by owner (without a real estate agent) in the United States. Search for a home, or list your property. Also has information on local schools, price comparisons, loans, and tips on home buying. http://www.forsalebyowner.com/ Topics: Consumer Research & Advocacy, Finance, Housing Last updated Aug 1, 2002 GovLoans.gov
"Five federal agencies -- U.S. Department of Agriculture, U.S. Department of Education, U.S. Department of Housing and Urban Development, U.S. Small Business Administration, and the U.S. Department of Veterans Affairs -- have come together to create this single point of access for federal loan information on the Web." Browse or search for loans for farming, business, education, disaster relief, and more. Includes a glossary of loan terms and links to additional resources. http://www.govloans.gov Topics: Business, Charity & Nonprofit Resources, College and University Education, Consumer Research & Advocacy, Housing, Money Last updated Mar 25, 2006 Home Buyers: Beware of "Flipping" Scams
This brochure alerts potential home buyers how to watch for house "flipping" scams in which "a flipper buys a house cheap and then sells to it an unsuspecting buyer for a price that far exceeds its real value." The flipper entices the buyer into purchasing by promising to arrange a home loan. Includes a list of questions to ask the seller. Opens directly into a PDF document. From the Maryland Office of the Attorney General. http://www.oag.state.md.us/Consumer/flipbrochure.pdf Topics: Consumer Research & Advocacy, Housing Last updated Apr 16, 2006 Interest.com
This site "provides the tools and review information that can assist consumers to make the best financial decisions. ... Features ... [include] financial calculators, mortgage charts, consumer articles and [free] e-mail newsletters." Covers mortgages, auto loans, credit card debt and management, home equity loans, bad credit and how to repair it, and investing basics. "Interest.com is an independent information service and is not affiliated with any lending institution." http://www.interest.com/ Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Oct 10, 2005 Martindale's Calculators On-Line Center
This site contains nearly 20,000 links to online calculators. The collection is organized into several sections: mathematics and statistics; science A-Z; chemistry; physics, astrophysics, and astronomy; engineering A-Z; and electrical and computer engineering. The general calculators category is broken into two parts, A-G and F-H, and includes calculators for almost every imaginable topic--car pricing, traffic noise, cooking measurements, mortgage loans, office space, wind chill, and many, many more. http://www.martindalecenter.com/Calculators.html Topics: Consumer Research & Advocacy, Mathematics, Ready Reference & Quick Facts Last updated Feb 9, 2004 Office of Federal Housing Enterprise Oversight (OFHEO)
"OFHEO's mission is to promote housing and a strong national housing finance system by ensuring the safety and soundness of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation)." This site features analysis and documents, including news about the July 2008 efforts of the federal government to bolster the financial stability of these mortgage giants. Also includes an index of house price appreciation and related information for consumers. http://www.ofheo.gov Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Jul 14, 2008 Q&A: Freddie Mac and Fannie Mae
Brief answers to questions from July 2008 about "[t]roubled US mortgage giants Freddie Mac and Fannie Mae [who] are at the heart of the US housing market." Covers who are Fannie Mae and Freddie Mac ("shareholder-owned companies mandated by the US Congress to provide funding to the housing market"), what they do, why they are in trouble, and what would happen if they failed. From the British Broadcasting Corporation (BBC). http://news.bbc.co.uk/2/hi/business/7502310.stm Topics: Consumer Research & Advocacy Last updated Jul 14, 2008 Quicken Loans
This site "allows you to research home loans, learn about home financing, and apply and sign your application." Contains information and interactive tools on home refinance, purchasing, and equity loans. Searchable. https://www.quickenloans.com/ Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Dec 12, 2008 Realtor.com
Contains a database of over three million homes and land for sale in the United States. Searches may be limited by area, price range, number of bedrooms and bathrooms, and other features. Some listings include maps. Also includes a directory of realtors, and information on mortgages, neighborhoods, moving, and finding a contractor. From the National Association of Realtors. http://www.realtor.com/ Topics: Consumer Research & Advocacy, Finance, Housing, Investing Last updated Jun 8, 2007 The Seattle Times: Home Values
This report from The Seattle Times includes calculators for estimating your home's value, appreciation by neighborhood, and income required by neighborhood for Washington State's King and Snohomish counties. Gives readers valuable information for the big picture of the real estate market for one of the most expensive areas in the country. http://seattletimes.nwsource.com/homevalues/ Topics: Consumer Research & Advocacy, Finance, Housing Last updated May 18, 2005 Time and Time Again: Buying and Selling Timeshares and Vacation Plans
Consumer fact sheet about vacation home ownership options, which include timeshares and vacation interval plans. Discusses the basics of vacation home ownership, terminology (such as fractional ownership and lockouts), how to evaluate a plan, how exchange systems works, what to do before selling a timeshare, and related topics. From the Federal Trade Commission (FTC). http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea15.shtm Topics: Consumer Research & Advocacy, Housing Last updated Oct 25, 2007 Treasury and Federal Housing Finance Agency Action to Protect Financial Markets and Taxpayers
Material from the federal government related to the September 7, 2008, announcement by the Treasury Department and the Federal Housing Finance Agency, with support from the Federal Reserve, that the Federal Housing Finance Agency (FHFA) would become the conservator for government sponsored home mortgage groups Freddie Mac and Fannie Mae. Includes statements, a fact sheet on FHFA conservatorship, and related material. From the U.S. Department of the Treasury. http://www.ustreas.gov/news/index1.html Topics: Consumer Research & Advocacy Last updated Sep 10, 2008 What You Should Know About Home Equity Lines of Credit
Questions and answers about the "form of revolving credit in which your home serves as collateral." Discusses what to look for when shopping for a home equity plan, the costs involved, repaying the loan, and lines of credit versus traditional second mortgage loans. Includes a checklist for comparing loans. In English and Spanish. From the Federal Reserve Bank. http://www.federalreserve.gov/pubs/equity/equity_english.htm Topics: Consumer Research & Advocacy, Money Last updated Jun 29, 2004 Which is Worse: Foreclosure or Bankruptcy?
This 2007 article considers the question of "what is better on your credit report -- foreclosure or bankruptcy? The article notes that "[n]either option is going to be easy. Generally, a foreclosure will remain on your credit report for 7 years, while a bankruptcy remains for 10 years. But that doesn't mean foreclosure is necessarily the better option." Also describes alternatives to mortgage foreclosure and bankruptcy. From the MSNBC answer desk. http://www.msnbc.msn.com/id/21478416/ Topics: Consumer Research & Advocacy, Finance, Housing Last updated Mar 12, 2008 Why Not Just Walk Away From a Home?
This February 2008 article discusses companies that suggest home owners voluntarily walk away from their mortgages, "engaging in a practice the mortgage industry calls 'ruthless default'" instead of going through the foreclosure process. Also describes alternatives to foreclosure or walking away that borrowers should consider. From National Public Radio (NPR). http://www.npr.org/templates/story/story.php?storyId=18958049 Topics: Consumer Research & Advocacy, Housing Last updated Mar 4, 2008 Zillow.com
This site provides estimated market values for homes in the U.S. (called "Zestimates"), which are computed by using data mainly from public records, "and entering them in a formula." According to the site, "the majority of our Zestimates are within 10% of the selling price of the home." Searchable by address or through interactive maps. Created by Expedia founders Rich Barton and Lloyd Frink. http://www.zillow.com/ Topics: Consumer Research & Advocacy, Housing Last updated Mar 5, 2006 |
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