Citigroup Shows Some Compassion - At Least Until New Years

Citigroup suspends foreclosure evictions and foreclosure notices for 30 days on approximately 4000 customers. read the whole story here

Staged to Sell - In a Tough Market it's Essential

According to a survey completed by StagedHomes.com, homes that were staged sold for an average of 6.9% more than ones that weren't. That survey was completed before the foreclosure crunch began. In my opinion, it is much more important now to stage all homes, because there are fewer buyers (due to increased difficulty in attaining a mortgage) the number of homes on the market has increased. It's the old rule of supply and demand.

In our local area - Storm Lake Iowa, there are several options to staging a home. Your Realtor should know a lot about staging and either be able to assist you or put you in contact with people and companies who stage. Stagers in Storm Lake Iowa include possibly your Realtor, Elements, and the new Furniture and Flooring store close to Hwy 71. Prices vary greatly so first talk to your Realtor, staging must be complete prior to having the property listed and pictures taken.

Remember over 80% of ALL buyers go on-line to check out houses before they contact a Realtor to see any thing. Never allow a Realtor to list your home without having pictures to be put online. A property on the mls without a picture could cost you a buyer.


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Do You Have an Adjusting ARM? How do you know if You Qualify for Help

If you have gotten caught in the adjusting ARM nightmare, there is hope. Follow the link in the title to see if you qualify for the assistance program. Don't just stick your head in the sand! If you have missed one payment you may still qualify. Contact your lending institution or the company that services your loan and call 1-888-995-HOPE, which provides counseling to homeowners with mortgage problems.
There is HOPE, the best defense against getting into trouble is to educate yourself and don't keep your knowledge to yourself, pass it on.

Realtors and Consumers The Chairman of the Senate Banking Committee Needs Your Support

Sen. Christopher Dodd is expected today to introduce a bill that would require mortgage lenders to issue only loans that are beneficial to borrowers and that borrowers are able to repay. What a novel idea - What, you thought the banking industry had your best interests at heart????

This bill seeks better loans for consumers. The proposal by the chairman of the Senate Banking Committee would not only force mortgage lenders to act in the best interest of borrowers, it also would expose Wall Street firms to lawsuits (IT IS ABOUT TIME!!!!) as well as bar subprime mortgage lending practices such as prepayment penalties and yield spread premiums, (this should not be how a mortgage broker gets paid) can anyone say Major Conflict of Interest???
Dodd's proposal is in some ways similar to one from Rep. Barney Frank, which passed in the House by a wide margin in November.

Mortgage companies and banks are expected to come out in force against Dodd's bill. Really? well you as an American consumer can help get this measure in place ----CALL YOUR BANK, MORTGAGE COMPANY, SENATOR AND YELL - Get this legislation passed and implemented. "I'm Mad As Hell and I'm Not Going to Take it ANYMORE!"



Click on the title to link to Reuters article on the bill