A Man Sentenced in Fraud Scheme to Acquire Mortgage Loans

March 3, 2010
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Rosemount, Minnesota – Eric Jason Sunsdahl was sentenced in federal court in connection with a scheme to acquire mortgages and funds fraudulently from a bank in Inver Grove Heights, Minnesota.

Sunsdahl was sentenced to 24 months in prison on one count of bank fraud. He was charged on April 21, 2009 and pleaded guilty on September 9, 2009.

Sunsdahl admitted that on April 29, 2005, he caused Bremer Bank to create a home equity line of credit in the amount of $100,000 based on a fraudulent loan application. His scheme to defraud Bremer Bank, conversely, spanned from 2004 through 2007 and included $726,210 in loan proceeds.

In that period, Sunsdahl was employed as…

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Filed Under: Economy Crisis, Lenders, Mortgages, Real Estate, Real Estate Fraud

Home Staging is Always a Must

March 3, 2010
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You may not have the funds to hire a professional stager, but every home seller can follow a few helpful staging tips to make sure their house looks like a buyer’s dream home.

As a seller, you must put on a positive first impression on your home. In order to do this, you repair, clean, and strategize marketing for your open houses, but home staging takes it one step further.

Here are some tips on how to stage your home the right way:

Declutter: Less is more. Grab a box, label it “living room” and go through and remove the unnecessary decor. Remove family pictures and trinkets. A buyer needs room to see their…

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Filed Under: Home Improvement, Real Estate

The Government Extends the Refinance Program for Another Year

March 3, 2010
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The government is giving homeowners another year to refinance their loans under a little-used program designed to help borrowers whose homes have fallen in value.

According to the Federal Housing Finance Agency, the Obama administration’s Home Affordable Refinance Program had been scheduled to end on June 10, 2010 but will now run until June 30, 2011.

The program allows borrowers who are indebted up to 25 percent more than their homes are worth to refinance to lower interest rates. It was initially projected to help 4 million to 5 million homeowners with loans owned or assured by Fannie Mae and Freddie Mac. So far, it has helped around 220,000, according to the…

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Filed Under: Economy Crisis, Lenders, Mortgages, Real Estate

Moving Out? Here are Some Tips on How to Pack for a Move

March 2, 2010
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Are you planning to move out your present house? Take the burden out of packing through making it very manageable.

Start early in packing so that you are not rushed to get it done before the big moving day comes. Make sure that you have quality packing materials to work with. The boxes should be strong and durable. Use durable tape to reinforce the bottoms and to seal the tops when you are already done.

For items that can be broken you want to use lots of packing materials. You can use newspaper, bubble wrap, towels and other items to ensure nothing will be broken when unpack at your new destination. Clearly…

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Filed Under: Home Improvement, Real Estate, Real Estate Investment

George Clooney’s Italian Villa Not for Sale

March 2, 2010
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It was reported that George Clooney is putting his Villa Oleander – his home on Lake Como in Italy – on the market and that the celebrity soccer superstar, David Beckham is battling with the Russian vodka billionaire, Roustam Tariko to buy the home.

The home is supposedly quietly on the market for around 30 million Euros. Clooney bought the home in 2001 for around 7 million Euros. After Clooney bought the home, real estate in the prominent vacation area spiked the so-called Clooney effect.

The Beckhams borrowed the home last year but it really does not look like they will be moving in. Clooney has released a statement that denied the…

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Filed Under: Celebrity Real Estate, Real Estate

$15.3 Billion More in Aid Sought by Fannie Mae

March 2, 2010
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Fannie Mae is in need of another $15 billion in federal assistance, which brings its total to more than $75 billion. The worse is that the mortgage finance company warned its losses will continue this year.

The salvage of Fannie Mae and sister company Freddie Mac is turning out to be one of the most expensive results of the financial meltdown. The new request means the total bill for the duo will top $126 billion.

The twinge is not yet over. Fannie warned last Friday that it will need even more money from the Treasury, as unemployment remains high and millions of Americans lose their homes through foreclosure.

Fannie Mae reported Friday that…

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Filed Under: Economy Crisis, Foreclosures, Lenders, Mortgages, Real Estate

The Castle in Beaufort Listed for $3.95 Million

March 2, 2010
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In around 1859 the Greek Revival home was built and sits on the intra-coastal waterway and is surrounded by live oaks and old gardens. The listing states that the home recently underwent a major renovation that included a new gourmet kitchen with Sub-Zero refrigerator, Wolf gas stove, Meile dishwasher and an additional ground floor catering kitchen with dual full size Sub-zero wine coolers. The bathrooms have been spruced up with Calcutta gold marble and Waterworks fixtures. The home now has a new roof and new HVAC.

It is the old features that are attractive here, the original wood flooring, the double verandas and the sweeping center hall with a double staircase…

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Filed Under: Expensive Real Estate, Luxury Real Estate, Real Estate

Deal with your Mortgage Obligations to Avoid Foreclosure

March 2, 2010
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Most people get flooded with debt have credit card bills and mortgage payments as their biggest obligations. While there are simple ways to deal with credit card bills, mortgages can be a bit trickier. It is also more significant to focus more on your mortgage obligations because taking it for granted can lead to the foreclosure of your home.

The best time to renegotiate a mortgage in order to keep away from foreclosure is before the lender can file for a Notice of Default. Lenders often do this to protect their interests in a property even when they do not really want to foreclose. So, if you have reason to believe…

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Filed Under: Economy Crisis, Foreclosures, Real Estate

The Top Five Inexpensive U.S. Housing Markets

March 2, 2010
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According to a recent joint report by the National Association of Home Builders and Wells Fargo, there are more than 70 percent of U.S. homes are inexpensive, with Indianapolis being the most inexpensive major metro housing market in the country for the last four years.

“The HOI [Housing Opportunity Index] showed that 70.8 percent of all new and existing homes sold in the final quarter of 2009 were affordable to families earning the national median income of $64,000, slightly higher than the previous quarter and near the record-high 72.5 percent set during the first quarter of 2009, according to a press statement from the National Association of Home Builders.”

The yearly record…

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Filed Under: Economy Crisis, Real Estate, Real Estate Investment
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