Daily Market Update: Landslide survivors still in mortgage limbo one year on

by 24 Mar 2015
Landslide survivors still in mortgage limbo one year on
The deadliest landslide disaster in U.S. history happened just over a year ago in Oso, four miles east of Washington. For the 43 that lost their lives there have been memorial ceremonies this week. For those that survived, the pain of the event is exacerbated by ongoing delays over mortgage settlements.

The Seattle Times reported that 35 families are currently working with nonprofit counseling agency Parkview but only five have reached agreement with lenders. Another 15 have tentative agreements and the rest are still in negotiations. The report highlights that some lenders have been more co-operative than others, but Parkview’s compliance director said that those waiting for agreement have their lives on hold.

“There’s no way for them to go on with their life if they’re saddled with a giant debt hanging over their head.”

The Coastal Community Bank cancelled all home loans it held against properties damaged or lost in the disaster and CEO Eric Sprink had this message for other lenders: “I wish all these banks would just forgive the debt.” Read the full story.

Best and worst states for retirement
If you’ve got your heart set on that Florida villa for your retirement, then think again. A new poll by Bankrate has revealed the top 10 states to retire in. All 50 states were included in the calculation, which considered the weather, cost of living, health care, crime, taxes and general well-being.

Wyoming tops the list followed by Colorado, Utah, Idaho, Virginia, Iowa, Montana, South Dakota, Arizona and Nebraska.

"There are many factors retirees should consider before deciding where to put down their roots," said Bankrate.com research and statistics analyst Chris Kahn. "Warm weather may be an initial draw, but all the sunny days in the world won't make you happy if you're constantly stretching your budget or don't have access to quality healthcare." Read the full story.
Orlando Bloom sells NY apartment ‘swiftly; maybe it’s down to neighbor Taylor?
Orlando Bloom bought an apartment in the Sugarload Warehouse building at 155 Franklin St. in New York City six months ago for $4.88 million but has sold it already.

The 38-year old Pirates of the Caribbean star is known to like to avoid the limelight when possible and was therefore perhaps a little naïve to buy a home in the building with neighbors including the Olsen twins.

However, it’s one particular neighbor who may have indirectly led to the actor’s decision to move; Taylor Swift purchased two adjacent lofts for $20 million and has been attracting just the kind of attention that Bloom likes to avoid.

Apart from hordes of screaming fans hoping for a glimpse of Ms. Swift, whose star has been rising steadily, she has also been visited by a string of celebrity guests including Selena Gomez and Beyonce.



Is TILA-RESPA a good or bad thing long term?