FILAM FINANCE

I recently attended a baby shower of one of my friends. He and his wife is having their third child. They used to live in the city of Baldwin Park and now they live in the city of Whittier. At first, I though that they already own the house but he says that he is […]

Peter Hong, a Los Angeles Times reporter, posted a very interesting article on how he cashed in on the sale of his two-bedroom condo in Pasadena in April 2005 and become renters again. He bought his condo nine years ago and sold it at three times the original price and kept the profit in a […]

It has been reported by a real estate data information that the median price of a house in California plummeted once again in the month of December. It is currently down 16% from the market peak in the month of April 2006 ($505,000). The median price is now at $425,000.
According to Bloomberg news:
U.S. existing-home sales […]

The lowering of the interest rates by the  Federal Reserve means good news for the borrowers but bad news for the savers. The interest rates on most savings and money market funds would normally follow after 30 days of the interest rate adjustment by the Federal Reserve. With the current interest rate at 4% - […]

This has been a question that comes into my mind. If you think about it, the last housing boom was fueled by the laws of supply and demand. There are more buyers than homes for sale thus prices were inflated because buyers where outbidding each other.

Now that we are in a housing slump, not only that […]

Well, the former chief of the Federal Reserve, Alan Greensplan, has indicated that the prices of the homes will continue to fall until the housing inventories continue to shrink. In fact, he mentioned that we are nowhere near the pont where inventories of new homes are set to drop. Of course, the very first sellers that […]

The mortgage disaster has led the Congress to consider enacting new proposals for the troubled homeowners. These homeowner’s are seeking relief such as tapping into their retirement or pension plans without incurring penalties for early withdrawal.
One major reform bill appears stuck in neutral, however: The Federal Housing Administration Modernization Act, which would raise loan limits […]

The biggest question in this mortgage meltdown is “Who do we blame?” Is it the bankers or lenders for not tightening the credit standards? Is it the loan agents who did not care if their clients couldn’t pay in the future as long as they receive a fat commission? Or is it the buyer who […]

I was reading the Los Angeles Times to check out the current mortgages market. It turns out that with the slow real estate market, a lot of the top banks in the United States were affected as far as their price per share and earnings are concerned. Banks such as Bank of America, Washington Mutual, […]

Two weeks ago, I posted an article about the REO house for sale across our apartment. The sale price history of this house is pretty much reflected with the current real estate market. This past weekend, the agent conducted an open house so it was kind of busy there. The sale price is not listed […]