Finding Money to Save

Trying to figure out ways to offset all the things you have to pay more for than you used to, but your paycheck is just not keeping pace?

Saving an extra couple of hundred dollars each month is easier than you think if you follow some of the ideas from Money Talks editor Stacy Johnson in this short (1:43) video…

What do you think? Any other ideas you've come up with to save a few dollars each month? Share them with us… we'd love to hear from you. Just click the comment link below and sound off. Your email, although needed to post a comment, will never be published here to protect your privacy.

Lengthening Check Float Times

Not so long ago, getting funds into your checking account to cover a check you'd written was much easier. Electronic banking has all but eliminated the check float… or has it?

Money Talks editor Stacy Johnson looks at some ways you can lengthen the float time on your money. The video runs 1:26…

Do you ever wonder why banks can process a check against your account almost instantly, but it can take 24 hours for a deposit to show up when you make it? What do you think? Are banks using our money without our permission? Leave us your opinion by clicking on the comment link below and sounding off. We'd love to hear from you.

Home Prices Down 7.6%

The National Association of Realtors (NAR) reported recently that 'Nationwide, the median existing single family home price plunged 7.6% to $206,500 in the second quarter, down from $223,500 in the same period of 2007. The median price represents the point at which half of all homes sold for more and half sold for less.'

A record number of foreclosures helped drive down prices, according to NAR. In fact, foreclosures and short sales accounted for about one third of all existing homes sales.

Now we seem to be getting into a time when the real economy is starting to affect housing markets more. It's a little bit of a contest now.

What do you think? Will lower prices stimulate home sales, or will the slowing economy slow down sales? We'd love to hear your opinion. Just click the comment link below and tell us what you think.

FHA Secure Helping More Homeowners

Last year, the FHA rolled out FHASecure, a loan program designed to help homeowners with adjusting ARMs (adjustable rate mortgages) get a fixed rate. Last month, FHA re-launched FHA Secure with some fresh new guidelines aimed at helping even more homeowners.

You can even qualify for FHA Secure if you missed up to 3 mortgage payments in the last 12 months. If you are not current on your mortgage payment, your missed payments must be the result of an adjustable rate mortgage (ARM) that reset or an “extenuating circumstance.” Extenuating circumstances, as defined by the FHA, include:

• Income loss by an event beyond control of the homeowner
• Job loss
• Non-covered medical bills

If you are current on your mortgage, but have an ARM that will be adjusting or have a mortgage which is more than the current value of your home, FHA Secure may also be an option for you.

When you owe more on your mortgage than what your home is worth, you may be at the mercy of your current lender when transitioning into FHA Secure.

It may be worth your while to speak with a mortgage banker who is approved by FHA and able to offer FHA Secure to find out if you qualify. While the guidelines of FHA Secure may seem daunting, having a new mortgage you can afford is something everyone can get their heads around.

Are You Sick of Bad News Yet?

We don't know about you, but we're absolutely sick to our gills here hearing about all the bad news regarding the economy, and more directly, the real estate industry.

Zogby AOL released a poll recently showing that over 50% of Americans believe that home ownership is still attainable for everyone. Other interesting facts in their survey showed:

• 31% of participants feel their home is worth more than it was a year ago
• 56% do not think their home will be worth less in five years
• 69% of Americans seeing real estate as a viable investment
• If forced to sell their home today, 50% would buy another home rather than rent
• Almost 50% of Americans would seriously consider purchasing a home through a foreclosure listing
• 67% of Americans surveyed turn to the Internet first when looking for a home

These numbers are consistent with other recent findings. However, the disconnect is the trust in the American economy seems to still lag. So what comes first?

Other interesting findings: What are the Key Factors when searching for a home?

• Communities with low crime
• High-quality schools
• Recreational facilities
• Easy commute to work

One interesting take is that there is a significant percentage of respondents that indicated that they would pay a premium for a home if they could cut their drive time by half.

Where do you rate with these questions? We'd love to hear your opinion. Just click the comment link below and sound off. Your email address will never be published on this site to protect your identity and your email from spamming.