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Bankruptcy 'tweak' could save 600,000 homes

Consumer group pushes for change to bankruptcy law; others worry about negative impact on mortgage-debt markets.

NEW YORK (CNNMoney.com) -- One consumer group estimates that 600,000 foreclosures could be avoided over the next two years by making a simple change to the bankruptcy code.

The Center for Responsible Lending (CRL) calls it a tweak, but it could be a significant change for homeowners and the market for mortgage-backed securities.

CRL's proposal - reflected in a House bill ... read more

Tue, October 2, 2007 - 11:16 AM permalink - 0 comments

Federal Reserve Surprises Market, Cuts Rates Half Point

WASHINGTON (AP) -- The Federal Reserve cut a key interest rate for the first time in four years, starting with an aggressive half-point move to prevent a steep housing slump and turbulent financial markets from triggering a recession. The action triggered a huge rally on Wall Street.

The Fed announced Tuesday that it was reducing its target for the federal funds rate, the interest that banks charge each other, from 5.25 percent to 4.75 percent.

The half-point reduction was double the qu... read more

Tue, September 18, 2007 - 12:16 PM permalink - 0 comments

Income Lags Behind Home Values

An Associated Press analysis of new census data provides insight into the reasons for the slumping housing market: Since 1990, homeowners have faced a growing gap between their incomes and the price of their homes.

The widening gap in all but a handful of the nation's 500 largest cities helped make the recent boom in housing prices unsustainable, according to analysts. The rising prices were fueled largely by low interest rates and risky borrowing, rather than increasing incomes.

"We ha... read more

Mon, September 17, 2007 - 11:49 AM permalink - 0 comments

Housing crunch hits renters hard

STAMFORD, Conn. — This isn't how Simon and Jennifer Morris envisioned married life — sharing a charity-subsidized suite with four other hard-up families, abiding by a curfew and other rules that make them feel they are back in high school.
But for a working-class couple with two small children, trying to stick it out in their pricey hometown, housing options are few.

They abandoned their previous one-bedroom apartment when the rent rose from $1,200 to $1,425. Public housing has long waiti... read more

Fri, September 14, 2007 - 10:32 AM permalink - 0 comments

Study: Brace for tough times ahead

Economic report foresees likely recession in Bay Area

The housing market slump is likely to shove the East Bay into a recession, albeit a short one, in the coming six months, a forecast released today predicted.

By late this year or early next year, the Alameda County-Contra Costa County area has a 75 percent chance of suffering from job losses and income erosion. The chances of a mild slowdown in economic activity are just one in four, according to the report by two California economis... read more

Thu, September 13, 2007 - 10:49 AM permalink - 0 comments

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Over Twenty Years in Real Estate

Location

SF Bay Area

about me

Brian and Barry Ripp, twin natives of Fremont, joined the family business, REALTY WORLD®-Viking Realty in 1985. Starting in real estate just out of college, Brian and Barry have now been selling houses for twenty years and took over as brokers when their father went into semi-retirement in 2000.

Viking Realty was founded in 1971 by their father, Roger Ripp, and the company has been serving the East Bay for over 30 years. The
company has built a reputation of doing what it takes the keep the customer satisfied . . . and the list of happy clients keeps growing.

Brian and Barry have won numerous awards for their outstanding achievements, locally and statewide. They are consistent high achievers, winning awards for sales volume of 7 to 9 million dollars for each of the past several years.

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Real Estate Journal

Why Borrowers May Not Benefit From Rate Cut

Rates remain high on many adjustable-rate mortgages, as they aren't tied to conventional benchmarks.

Wed, December 12, 2007 - 9:00 PM permalink

Mortgage-Relief Legislation Advances In Congress

Housing legislation would give bankruptcy-court judges more flexibility to alter the terms of certain home loans.

Wed, December 12, 2007 - 9:00 PM permalink

When Homeowners Find Breaking Up Hard to Do

A Michigan couple has severed their emotional ties, but own a home -- and a mortgage -- together. June Fletcher advises how to split their asset and their debt.