Category: Real Estate
West Hartford: One Of 10 Best Places In US To Raise A Family
Those of us who live or have lived in West Hartford, Ct know its one of the best places in the country to live and to raise a family. Kiplinger Magazine agrees and for the second time this year named West Hartford to its best 10 list: this time one of the great cities for [...]
Mortgage Rates At Incredibly Low Levels
While mortgage rates can continue to decline, they are at such a low rate now that if it made sense for you and you could refinance, its time to pull the trigger. At 4.44 percent plus smaller closing fees, mortgages are at unheard of levels. The Wall Street Journal reports today that the record low [...]
Critics of Financial Reform Use Fannie Mae As A Distraction
John Carney’s op-ed piece in yesterday’s New York Times is a tour de force, a paean to nonsensical thinking. In, “Fannie Mae and Freddie Mac: Too Big Not to Fail <http://www.nytimes.com/2010/08/12/opinion/12carney.html?ref=contributors> ,” Carney ignores the Fannie and Freddie of the real world. Instead, he goes after the Fannie and Freddie that exist only in his [...]
CNG Damages Non-Customer’s Credit Rating
In these days of tight mortgage lending standards, getting your home refinanced can be a real challenge, even if you have equity and good credit. Tim McCarroll of Cromwell faces an additional hurdle: Connecticut Natural Gas damaged his outstanding credit rating by incorrectly telling credit rating agencies that McCarroll was a deadbeat. And when McCarroll [...]
Positive Energy Electric President Fined $100,000 For Bank Fraud
The president of Positive Energy Electric Co., and one of my sponsors, was fined $100,000 by the state Banking Department for bank fraud involving a mortgage about seven years ago when he was in the mortgage business. A spokesman for the department confirmed the fine against Joseph Ventura this week, which a reader tipped me [...]
New Condo Rules In Conn Helps Owners Learn What Their Associations Are Up To
For an estimated 250,000 condominium owners in Connecticut, this month will be remembered as the watershed time when unprecedented legal protections went into effect. Thanks to legislation adopted by the General Assembly and signed by Gov. M. Jodi Rell, the playing field – according to state Consumer Protection Commissioner Jerry Farrell Jr. – for condo [...]
Financial Reform Doesn’t Address Our $10 Trillion Problem
George Gombossy asked for my thoughts on the new financial reform legislation. I have many, which I intend to share periodically going forward. But I think it’s important to place the legislation in the context of the big picture, which for me is framed by the numbers. The financial crisis was caused by the rise [...]
Why The Rich Default On Mortgages: Because They Can In Calif and Arizona
Why throw away good money after bad?
It’s a frequently-asked question in the five most expensive real estate markets in the mainland United States–San Jose, San Francisco, Orange County, Los Angeles and San Diego–where over a million home mortgages are under water.
First-Time Homebuyer Credit Purchases Extended To Sept. 30 For Closings
The deadline for the completion of qualifying First-Time Homebuyer Credit purchases has been extended. Taxpayers who entered into a binding contract before the end of April now have until September 30, 2010 to close on the home. The Homebuyer Assistance and Improvement Act of 2010, enacted on July 2, 2010, extended the closing deadline from [...]
Bloomfield Consumer Protection Sting Operation Nets 54 Unregistered Contractors
– Fifty-four home improvement contractors and salespersons will pay a fine or face criminal and /or administrative penalties for not being registered with the Connecticut Department of Consumer Protection as required by state law, Consumer Protection Commissioner Jerry Farrell, Jr. said today. He spoke at a press conference marking the conclusion of a five-month undercover [...]
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