The Effect of Hurricane Ike on Texas Homeowners and filing Bankruptcy

September 13, 2008

With the arrival of Hurricane Ike and its deadly aftermath, many Texas homeowners are not only left homeless, but are also left without insurance coverage on their primary residence or home and their beach and vacation homes. Others are left owing more than their house is worth, as some homeowners in Galveston and Houston will inevitably face foreclosure due to Ike’s destruction and the lack...

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Housing Bargains

September 11, 2008

A new study on home prices shows that the Dallas area still has a big edge in providing affordable housing for relocating corporate 5c7e490cemployees. The Dallas Morning News reported, Coldwell Banker Real Estate’s annual home price comparison index tracks the cost of homes in more than 300 U.S. markets in areas that would appeal to "typical corporate middle-management transferees." But that’s substantially below the nationwide...

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Pre Owned Home Sales Down in August

September 9, 2008

No sign yet of a housing turnaround in North Texas. The Dallas Morning News reported, Pre-owned home sales slumped 18 percent in August compared with a year ago. And median sales prices slid 3 percent to $150,000, according to the latest statistics from the North Texas Real Estate Information System and Texas A&M University’s Real Estate Center. The fall-off in condo sales was even steeper...

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Feds Taking Control of Mortgage Companies

September 8, 2008

President Bush said Sunday that the historic federal government takeover of mortgage giants Fannie Mae and Freddie Mac is needed to keep them from failing, a risk he called "unacceptable" for an economy battered by housing and credit crises. "Allowing the companies to fail or further deteriorate would damage our home mortgage market, and could weaken other credit markets that are unrelated directly to housing,"...

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Unemployment Rate Up

September 5, 2008

The nation’s unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike. The Labor Department’s report, released Friday, showed the increasing toll the housing, credit and financial crises are taking on the economy. The report was sure to rattle Wall Street...

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