Chitownproperty

You may have read about the problems in the “subprime” mortgage market recently. Subprime mortgages are loans given to traditionally underqualified applicants, often with extremely low interest rates that skyrocket after a brief introductory period. Many buyers who took out such loans during the recent real estate boom are now in foreclosure, as [...]

You wouldn’t buy a used car without checking its maintenance and accident history would you? But many people purchase condos without carefully checking the building’s financial records, maintenance and assessment schedule, and board activity. Doing so can sometimes turn the most desirable home into a lemon, uncovering years of neglect or whopping assessments [...]

With an uncertain market, that question isn’t as cut-and-dried as it used to be. Last week the New York Times published a fantastic online calculator to determine whether you should rent or buy, based on a number of variables like monthly rents, home prices, taxes, appreciation rates, and interest. Given these values, it [...]

The credit market is tightening up as home prices fall and lenders worry about the ability of borrowers to repay loans. To make sure you can still qualify for a loan at a good rate, CNN/Money offers some tips for shaping up your credit profile:

Pay down any balances on credit cards, or better yet, [...]