What you should know about balloon loans

A balloon mortgage is one on which the outstanding balance is due at some point before amortization has paid off the balance in full. Aside from the repayment obligation, balloon loans are identical to standard fixed-rate mortgages (FRMs). For example, if a five-year balloon loan for $100,000 is at 5 percent for 30 years, the …

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Existing-Home Sales Rise Unexpectedly in October

Sales of previously owned homes got an unexpected boost last month while the number of homes on the market continued to decline, according to data released Monday by the National Association of Realtors (NAR). The trade group recorded a 1.4 percent month-over-month increase in existing-home sales in October, pushing the annual rate of sales to …

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Urgency Sells Homes

After the tech bubble burst, people were leery about putting money into the stock market, and instead poured money into housing. It was easy to get financing — too easy, as it turned out. The inventory of homes for sale was low, and demand was high. When the demand is high and supply is low, …

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California real estate market “struggling to gain momentum”

California home sales are expected to remain essentially flat this year and rise slightly in 2012, according to a housing market forecast from the CALIFORNIA ASSOCIATION OF REALTORS®. The trade group predicted California home sales this year will stay roughly flat compared with 2010, at 491,100 units — a relative improvement given the 10 percent …

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