Grills Gone Wild
With summertime temperatures hovering around the century mark in many parts of the country, outdoor grilling becomes a big favorite, even if it does seem hot enough to grill right on your sidewalk.
Everyone is looking for the "grill of their dreams"… but it's important to know what you're comparing when shopping for grills. As Money Editor Stacy Johnson explains, "Not all grills are created equal."
This video runs 1:13….
Housing: Where Do Obama and McCain Stand?
Wondering where Barack Obama and John McCain stand on the controversial housing meltdown issues?
Obama wants the government to step in to help homeowners facing foreclosure. McCain has gradually broadened his position to support government intervention, but wants stricter requirements for borrowers seeking aid.
Obama supports:
- Allowing troubled homeowners to refinance to a loan insured by the Federal Housing Administration.
- Allowing subprime borrowers to challenge foreclosure proceedings if they've been subjected to abusive lending practices.
- Creating a 10% tax credit for homeowners who do not itemize their taxes.
- Creating a $10 billion fund to help victims of predatory loans.
- Creating a separate $10 billion fund to help state and local governments maintain critical infrastructure.
- Authorizing bankruptcy judges to reduce mortgage principal.
McCain supports:
- Giving homeowners the chance to have their loan modified, provided they meet certain criteria.
- Offering of financial assistance to borrowers contingent upon lending reform.
- Providing more funding for community development groups so they can expand their home rescue efforts.
Both candidates say they want to go after predatory lenders. Obama introduced the STOP FRAUD Act in the Senate and now it's a part of his platform. McCain called for creating a task force to investigate criminal wrongdoing in the mortgage lending and securitization industry.
Foreclosures: 343,000 and Counting
The number of Americans losing their homes to foreclosure continued to soar in June, according to a report released recently.
RealtyTrac, an online marketer of foreclosed properties, reported that lenders repossessed 71,563 homes in June. A year ago, just 26,369 homes were taken back.
During the first six months of 2008, 343,159 Americans lost their homes, up 136% from 145,696 recorded during the same period in 2007.
There was a shred of good news: When compared with May, filings declined 3%. Part of that decline may be traced to the actions of some states, including Maryland and Massachusetts, which have put moratoriums on foreclosures.
Adding to foreclosure woes is that home prices have been falling all year, down more than 14% in the first quarter, according to the latest figures from the S&P Case-Shiller Home Price Index.
Price declines strip homeowners of equity, making many mortgage borrowers owe more than their homes are worth. When they're underwater, they can't borrow against home equity to help out during a rough financial stretch.
Is foreclosure looming on your horizon? Check out this website. http://ForeclosureSurvival2008.com
Biggest Water Wasters
Are you flushing water (and money) down the toilet every month? You may not think you're a water waster, but maybe you should find out:
Stacy Johnson has more in this short 1:31 video…
So how much water are you wasting every month? Any other ideas for saving water and/or electricity? Tell us about them… use the handy "comment" link below.
Selling Your House? Try Staging It
Staging a house can be the difference between its sitting or selling. Here are some findings and simple staging tips to help turn lookers into buyers at your next open house.
Studies have shown that staged homes sell quicker - sometimes up to 40% faster - than non-staged homes. Simply stated, staged homes sell faster for more money than those that aren't staged.
Three basic staging rules:
- Entice buyers to enter. If people don't like what they see on the outside, they may not come in. Doors are the one exception to the neutral-color rule. Rich colors say "welcome" and "come inside." Some suggestions: red, black, charcoal and chocolate brown.
- Curb appeal to sell a house. Curb appeal is 360 degrees around a house - and includes the neighbors and the neighborhood. Sellers should focus first on what they can control, especially landscaping outdoor spaces and lighting. Sadly, many sellers skip this obvious step and lose equity - and many prospective buyers - as a direct result.
- Clobber the clutter. Go room by room and purge. Get rid of anything personal.
Hiring a professional home stager has great benefits to any seller. The seller doesn't have to spend every night and weekend trying to get the house ready for people to see. The seller can continue with their normal routine and have one less thing to worry about.
Consider this simple rule of thumb, the investment in staging your home will always be less than the first price reduction on your home if you don't stage it and it just sits on the market.
