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Sales of New and Existing Homes Will Continue Their Slide in 2007  Existing-home sales will fall 8.1% this year while new-home sales will drop 7.1%, Fannie Mae says. The declines are largely due to investors pulling out of the housing market, the


It sounds bad, but what does it really mean?  Tuesday's stock market plunge may show the start of a "correction," the age-old euphemism for a steep drop in stock prices, but it may also signal worse news than that.Commentread


Mortgage Interest Rates Drop Again Hitting Refinancing Boom Lows (PR Web via Yahoo! News)   Livonia, MI (PRWEB) June 1, 2005 -- Mortgage interest rates dropped again today, hitting lows not seen since the height of the refinancing boom.via


Call for bail-out agency to unblock mortgage markets (FT.com via Yahoo! News)   The UK's frozen mortgage markets may need to be unblocked by creating a new agency that could temporarily bail out lenders until conditions in the wholesale money markets improve,


Is the housing crash finally here? Sellers say yes  "It is a very bleak market out there for sellers" For months, we've heard from the real estate market's cheerleaders that the housing correction is nothing to get too


Judge Grants Hard Drive Access  EAGLE LAKE | Polk County sheriff's detectives decided last month that Eagle Lake officials broke no laws in the disappearance of commissioners' e-mails from a City Hall computer, but lawyer

April 21st, 2005

Spending severance pay to pay off mortgage (Bankrate.com)

Could you please suggest what to do? My wife and I were laid off two weeks ago. We got severance pay and benefits pay totaling $85,000. We recently bought a townhouse and owe $85,000 to a bank. My wife wants to pay off the mortgage, but I am against it because that would leave us without any money.

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