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Archive for June, 2011

June 30, 2011 Celebrity Houses That Are on Sale

Have you ever dreamed of truly living like a celebrity by buying one of their homes? If so, you’re in luck. Two famous names recently put their homes up for sale – Regis Philbin and Hulk Hogan. Regis Philbin’s four bedroom, eight bathroom, Greenwich, Connecticut, home is complete with a tennis court and a pool [...]

June 29, 2011 The Number of Strategic Defaulters is Growing in the Real Estate Market

If you haven’t heard the term “strategic defaulter” yet, you will. It’s a growing segment of homeowners who, faced with a home value drastically lower than what they paid, are simply walking away from their mortgages. But what’s so strategic about that? Nothing inherently. But these homeowners are not just walking away: they’re buying other [...]

June 24, 2011 Owning a Business and Getting Divorced

An article in the Wall Street Journal Magazine, “How to Divorce a Business Partner,” discusses the numerous issues that can arise when a married couple who own and run a business together decide to divorce. The article cites the National Federation of Independent Business statistic that “more than one million husband-and-wife teams run businesses together,” [...]

June 21, 2011 Big Banks Are Getting Out of Reverse Mortgages

Wells Fargo and Bank of America both recently announced that they will no longer provide reverse mortgages. We’ve written about these in the past. Reverse mortgages allow those 62 years old and older to access their home equity without having to make payments. Owners generally don’t have to pay the money back for as long [...]

June 16, 2011 In the Wake of Midwest Devastation, Some Good News for Homeowners from Freddie Mac

The recent devastating tornadoes that tore through the Midwest left a path of devastation and destruction. Homes were leveled, lives lost, and entire cities were razed. In the midst of the sorrow and loss, however, there is good news, at least for some. Freddie Mac, the government-sponsored mortgage backer, has announced that homeowners affected by [...]

June 14, 2011 Business Loan in Default? Your Best Bet May Be an SBA Loan Workout

Despite some hints at an improving economy, it’s still tough out there for many small business owners, and many owners are finding themselves in a loan default situation. In addition to being at risk for losing their businesses, these owners could potentially lose their homes and other personal assets. While there may seem to be [...]

June 10, 2011 Improve the Value of Your Home

There are a lot of people with houses that have been sitting on the market for months without a buyer in sight. Those people can simultaneously improve the value of their homes while making them more attractive to buyers by making home improvements, as long as those improvements actually pay off. The Wall Street Journal [...]

June 8, 2011 Homeowners Foreclose on a Bank

It might sound like a story from Bizarro World, but it’s true: A Naples, Florida couple initiated foreclosure proceedings on Bank of America last week. As reported on Yahoo! News yesterday, retired police officer Warren Nyerges and his wife, Maureen Collier, purchased their home in 2009 for $165,000, which they paid for in cash. In [...]

June 3, 2011 SEC Releases Staff Paper on a Possible Incorporation of IFRS into U.S. GAAP

In order to consider the factors relevant to a Securities and Exchange Commission (SEC) determination as to whether, when, and how the current financial reporting system for the U.S. should be transitioned to incorporate International Financial Reporting Standards (IFRS), on May 26, the SEC released a “Work Plan for the Consideration of Incorporating International Financial [...]

June 1, 2011 Property Selling Moves to Reality TV

Brokers selling real estate have turned to reality television to give people a glimpse into their lives and help move property. Two new shows, “Selling New York” and “Million Dollar Listing,” which is based in LA, have added new elements to real estate agents’ marketing strategies. Recently, on “Selling New York,” the stars of the [...]