- Mortgage Relief Checks Go Out, Only to Bounce
(New York Times) -- When the bank account is running dry and the mortgage payment is coming due, the phrase “insufficient funds” is the last thing you want to hear.
- Survey: Homeowners’ Biggest Regret? Didn’t Buy Bigger
(WSJ) With the worst of the housing bust still fresh in homeowners’ minds, it’s a small wonder what some owners are saying they most regret: not buying bigger. It’s just one finding from a new survey by real-estate website Trulia TRLA -1.25%. The survey, which is scheduled to be released in full on Wednesday, also highlights the changing tide for home sellers, who now have the upper hand in markets amid rising prices and low inventory. Jed Kolko, chief economist at Trulia, sat down with the WSJ’s “Lunch Break” to discuss some of the findings.
- Did underwater mortgages kill the economy?
The housing market, finally, is recovering. Home prices are up 8 percent over the past year. And that is providing relief to a particular set of homeowners – the underwater borrowers who owe more than their properties are worth. Over past year alone, 1.7 million homeowners have climbed out from being underwater.