September 22, 2014 8:14 AM • Log InREGISTER
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Tips for Calculating Mortage Costs Timeshare Nightmare: Waking Up & Walking Out Can Be Just A Pipe Dream Infographic: Know Your Mortgage Rights Infographic: Mortgage Closing Costs Rise Celebrity Real Estate: 8 Entertainers Who Put Lavish Homes on the Market Sociologists Analyze Homeowner Attrition Life-Savers: 5 Tax Facts for Home Sellers Study: U.S. Millennials Waiting Longer to Buy Homes Homebuilder Confidence on the Rise Top 10 Counties with the Best Property Tax Value Brad Pitt To Build Low-Income Homes For Native American Families Top 10 Sizzling Real Estate Markets Regulators Offer HELOC Guidance New Reverse Mortgage Rule Could Prevent Foreclosure Top 10 Slowest Housing Markets in the U.S. Good Kid, Smart Money: Kendrick Lamar Buys Reasonable $523,500 California Home NFCC Poll: Consumers Reluctant to Assume Mortgage Risk Wells Fargo Home Lending Launches Home Ownership Contest OneUnited Bank President Teri Williams Talks About Homeownership First-Time Home Buyers Might Have Easier Time Getting Mortgage Contracts to Purchase Homes are on the Rise Jon Bon Jovi Helps Build Low-Income Housing How to Qualify for the FHA Back to Work Program Federal Housing Official: ‘There’s Help Available for Struggling Homeowners’ Personal Finance Word of the Day: Adjustable-Rate Mortgage Find a Real Estate Deal in the Next Hot ‘Hood Wells Fargo and NeighborWorks America Offer Down Payment Assistance More Banks Shun Mortgage Preapprovals Home Improvements that Pay Off Start in the Bathroom [Infographic] How to Renovate Your Home to Make the Sale Why Trying to Buy a Home Will Get Harder 4 Inexpensive Ways to Boost Your Home’s Value 6 Great House-Hunting Websites Housing Market Continues Improving as Sales Rise in July Housing Market Recovery Good News for Home Depot Home Prices Rise on Eve of Obama Speech, But Just Slightly Tips on Home Buying from Egypt Sherrod Tips for Avoiding Timeshare Resale Scams Q&A: Kofi Natei Nartey, LA Luxury Real Estate Broker to Sports, Movie Stars How to Make Home Ownership and a New Marriage Work Bank of America Misled Homeowners, Suit Says Homebuilders Struggle to Keep Up With Demand in Improved Market As Home Prices Rise, Analysts Consider An Impact on the Economy Banks Slow to Pay Owed Money to Homeowners Good Sign: Home Foreclosures at a Six-Year Low 4 Ways to Avoid a Moving Scam Fantasia Loses Her House After Failing to Sell at Preferred Price 6 Months After Hurricane Sandy, “Thousands” Still Homeless Housing Market is Up and Down, Numbers Show Detroit Homeowner Threatens Potential Squatters With Gunshots Childhood Home of Notorious B.I.G. Up For Sale for $725,000 R. Kelly’s Chicago Mansion Foreclosed and Sold at Auction New Report Claims Almost a Third of Americans are Mortgage Free Allen Iverson Loses Atlanta Mansion to Foreclosure A Crash Course on the CFPB and Why it Matters to all Future Homeowners Kenyon Martin’s $3 Million Home in Texas is for Sale Harlem Brownstone Sells for Whopping $3 Million Report: Freddie Mac’s Housing Forecast for 2013 Looking Up A More Efficient Form of Relief for Hurricane Sandy Survivors At Year’s End, Mortgage Prices Continue to Fall Attention New Homeowners: We Want Your Story! Record-Low Mortgage Rates Don’t Mean You’ll Get Approved NJ Governor Not Using $300 Million in Funds to Help Foreclosure Victims Mortgage Companies Forgiving Homeowners Big Time Mortgage Rates Slightly Above All-Time Low It Pays to Own Housing Market Gets A Boost with Increased Home Sales 5 Tips for Renting Your Vacation Home Free!! Books of the Week – House Hunting Beyond Homeownership Preview B.E. Business Report: How to Recover From Home Foreclosure Ask the Money Coach: Should You Walk Away from Mortgage Debt You Can’t Afford? Don’t Blame Minority Homeowners for the Housing Crisis Make Your Mortgage Affordable How to Benefit from Making Home Affordable Refinance Program Is Your Home an ‘Asset’ or a ‘Liability?’ The Truth About ‘No Cost’ Loans from Home Lenders Property Ladder Living Solo in the Big City 5 Signs of a Foreclosure Rescue Scam Rental Payments Will Count Toward Credit History How to Negotiate the Best Deal on a Home 4 Tips to Keep Your HUD Home Out of Foreclosure 5 Rules for Getting a Great Deal on a Home 5 Steps Towards Homeownership 7 Steps to Getting Over Foreclosure Rent or Buy? In Which Cities Is It Better to Own or Pay a Landlord? How to Rebound From Foreclosure How to Navigate Stricter Mortgage Lending Guidelines Rent or Buy? In Which Cities Is It Better to Own or Pay a Landlord? New Study Shows 62 % Drop in Home Mortgage Approvals to Minorities 10 Power Moves to Help You Better Manage Your Money Rescuing Communities of Color The Midterm Elections: Candidate Hansen Clarke Soledad O’Brien on Why Some Black Families Struggle Financially How to Navigate Stricter Home Buying Guidelines Watch: CNN Tackles Almighty Debt on ‘Black in America’ Four Reasons Midterm Elections Matter Is Owning Your Own Home Still Ideal? There’s No Place Like (A New) Home What To Do About An Underwater Mortgage Real Estate Insider: 4 Things to Know About Reverse Mortgages Nonprofit Insider: 4 Steps to Fundraising for Your Nonprofit The Black Enterprise Wealth For Life Principles What Does Financial Reform Have To Do With Me? Senate Overwhelmingly Approves Consumer Protection Bill Foreclosing as a Financial Strategy Administration Approves $1.5 Billion in Aid for Homeowners Billions in Wealth Lost Since Foreclosure Crisis Began Money Matters: Do I Need This Type of Insurance? You Better Shop Around Your House is a Home—Not an ATM Low-Cost Eco-Friendly Design Options for Your Home Don’t Walk Away Learning From the Kennedy Green House Restoration Bank of America Offers Bailout to Homeowners The Homebuyer’s Toolkit: Do it Yourself! The Homebuyer’s Toolkit: Choosing the Right Neighborhood When Should You Refinance? Demystifying the Mortgage Modification Process The Homebuyer’s Toolkit: Title Insurance The Homebuyer’s Toolkit: Condo or Co-Op? Money Matters: Should I Ditch My Home? The Homebuyers Toolkit: Renting vs. Buying How to Finance a Fixer-Upper on a Modest Budget The Homebuyer’s Toolkit: How Your Credit Score Adds Up The Homebuyer’s Toolkit: Building Financial Security Should You Have Faith In A Good Faith Estimate? What’s A Short Sale In The Long Run? Foreclosures of the Rich and Famous The Homebuyers Toolkit: Money Attitudes and Budgeting ARMed And Dangerous? Don’t File For Bankruptcy The Homebuyers Toolkit: Let’s Talk Money The Homebuyers Toolkit: Key Players Congress Expands Homeowner Tax Breaks The Homebuyers Toolkit: Qualifying For A Mortgage The Homebuyer’s Toolkit: Getting Started Scam Alert: Cash For Home Offer May Not Be What You Think Choosing a Contractor Hey, Mr. President, How About A Holiday? Cutting Edge: Four Tips for Understanding A Mortgage For Loan Modification, Don’t Fall Behind Is Now the Time to Buy Real Estate? How to Save $66,000 on Your Mortgage Fair Access to Mortgages Still Illusive for Minority Women You Can Still Get a Mortgage Foreclosure Lifelines Foreclosure Prevention Gone Awry? HUD Outlines Homeowners’ Rescue Plan 5. I Will Use Homeownership as a Foundation for Building Wealth

Money > Home Ownership

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Tips for Calculating Mortage Costs

A mortgage calculator can help you with determining how soon you’ll be able to pay…

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hacienda2a

Timeshare Nightmare: Waking Up & Walking Out Can Be Just A Pipe Dream

A valid, binding contract almost impossible to get out of

(Image: Instagram)
On a vacation in Mexico six years ago, Jessica Martinez and her husband took…

By Richard Spiropoulos

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HomeownershipCoupleManWoman

Infographic: Know Your Mortgage Rights

Here's a breakdown of what you're entitled to as a homeowner

Here’s a breakdown of what homeowners are entitled to with their mortgage.

By Sheiresa Ngo

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Infographic: Mortgage Closing Costs Rise

Texas has the highest costs

You’ll have to dig just a little deeper into those pockets.

By Sheiresa Ngo

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Image: Instagram

Celebrity Real Estate: 8 Entertainers Who Put Lavish Homes on the Market

These industry leaders take both wins and losses

Check out this list of top celebrities who put their homes on the real estate…

By Courtney Connley

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Sociologists Analyze Homeowner Attrition

Exploitative lending is partly to blame

For many, the American Dream involves becoming a homeowner.

By Sheiresa Ngo

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Life-Savers: 5 Tax Facts for Home Sellers

Here are a few pointers from the IRS

If you’re selling your home, you’ll want to take heed to these tax facts from…

By Sheiresa Ngo

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Image: File

Study: U.S. Millennials Waiting Longer to Buy Homes

Findings link college education and marriage to delay

A report done by online real estate firm Trulia shows that education and marriage rates…

By Courtney Connley

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Image: ThinkStock

Homebuilder Confidence on the Rise

Improvements in the economy have contributed to the positive outlook

The index measuring home builders’ views on current sales conditions rose four points to 57.…

By Sheiresa Ngo

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Top 10 Counties with the Best Property Tax Value

Counties in Oklahoma and Arkansas dominate list

Counties with more than 50,000 residents were ranked.

By Sheiresa Ngo

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(Image: Make It Right Foundation)

Brad Pitt To Build Low-Income Homes For Native American Families

Actor's 'Make It Right' group aiming to construct 20 homes for Sioux and Assiniboine tribes

Brad Pitt, the celebrated actor, has taken his nonprofit organization, Make It Right, to Native…

By Kevin L. Clark

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Black Family

Top 10 Sizzling Real Estate Markets

Among fastest growth markets, California dominates the list

In some U.S. markets, it's better to own than rent (Image: ThinkStock)
Some people have no…

By Sheiresa Ngo

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Regulators Offer HELOC Guidance

Guidelines will help lenders and consumers transition

The Conference of State Bank Supervisors and the federal financial institutions regulatory agencies provided guidelines…

By Sheiresa Ngo

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New Reverse Mortgage Rule Could Prevent Foreclosure

Updated guidelines allow some borrowers to avoid homelessness

Updated rules will give seniors in reverse mortgage plans relief from losing their homes.

By Sheiresa Ngo

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Image: ThinkStock

Top 10 Slowest Housing Markets in the U.S.

Richmond, Va., and Hartford, Conn., hold leading spots

According to a recent study by real estate website Trulia, the top 10 slowest U.S.…

By Sheiresa Ngo

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Good Kid, Smart Money: Kendrick Lamar Buys Reasonable $523,500 California Home

Compton rapper spends his money wisely with latest purchase

Kendick Lamar proves that he knows the value of a dollar and smart investment with…

By Courtney Connley

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NFCC Poll: Consumers Reluctant to Assume Mortgage Risk

Are you worried about paying off a mortgage?

Even though many define the American Dream as becoming a homeowner, more consumers are…

By Sheiresa Ngo

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black-homeowners-300x232

Wells Fargo Home Lending Launches Home Ownership Contest

Up to $750,000 will go to three lucky winners

If you’re in the market to purchase a new home, you might be excited to…

By Sheiresa Ngo

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OneUnited Bank President Teri Williams Talks About Homeownership

Bank veteran discusses new mortgage program

Even though Financial Literacy Month has come and gone, it’s never too late to discuss…

By Sheiresa Ngo

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First-Time Home Buyers Might Have Easier Time Getting Mortgage

New policies are in the works

Federal regulators are working on new policies that might make it easier for first-time home…

By Sheiresa Ngo

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Image: ThinkStock

Contracts to Purchase Homes are on the Rise

USA Today reports that a one- to two-month lag often occurs between a signed contract and a completed sale

The rise in contracts is a good sign for the housing market

By Sheiresa Ngo

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Jon Bon Jovi Helps Build Low-Income Housing

A new low-income housing development called JBJ Soul Homes will be opening soon, thanks in…

By Sheiresa Ngo

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Image: ThinkStock

How to Qualify for the FHA Back to Work Program

The program has been extended through Sept. 30, 2016

That all changed with the FHA Back to Work Program, which lets homebuyers make a…

By Sheiresa Ngo

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Sandra Thompson

Federal Housing Official: ‘There’s Help Available for Struggling Homeowners’

Government programs are out there to assist with mortgages

The HARP Program is the government refinance program for borrowers who are current, but underwater

By Alan Hughes

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Personal Finance Word of the Day: Adjustable-Rate Mortgage

Your daily money bite

Adjustable-rate mortgages are making a comeback. A recent article in The Wall Street Journal says…

By Sheiresa Ngo

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Keller Williams NYC associate broker Jamella Swift

Find a Real Estate Deal in the Next Hot ‘Hood

It's all about up-and-coming locations when it comes to finding affordable homes that will appreciate

Jamella Swift, an associate broker at Keller Williams NYC, gives advice on buying and selling…

By Alisa Gumbs

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wells-fargo-lends-out-more-than-a-billion

Wells Fargo and NeighborWorks America Offer Down Payment Assistance

Low-to-middle-income consumers get the help they need

Help for homeowners is on the way

By Sheiresa Ngo

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home buyer

More Banks Shun Mortgage Preapprovals

Disappearing preapprovals will make it tougher for home buyers to stand out to prospective sellers

Some lenders are opting to do away with mortgage preapprovals

By Sheiresa Ngo

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Home Improvements that Pay Off Start in the Bathroom [Infographic]

Five renovations that add value to your house.

The right updates could greatly increase the resale value of your home.

By Sheiresa Ngo

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How to Renovate Your Home to Make the Sale

The right upgrades can make your home more attractive to buyers

In September 1998, Dr. Kim L. Thornton purchased a home in Newton, Massachusetts, for $490,000.…

By Leslie E. Royal

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Image: File

Why Trying to Buy a Home Will Get Harder

The American Dream just got more complicated.

According to a recent Wall Street Journal report, the loan limits for some mortgages are…

By Sheiresa Ngo

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Monta and Eric Baskerville (Photo by Tyrone Turner)

4 Inexpensive Ways to Boost Your Home’s Value

Eric and Monta Baskerville knew the house they bought in 2009 was a good find,…

By Tory Parrish

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WomanHomeListComputer620480

6 Great House-Hunting Websites

These sites will help you find your dream house.

Thanks to the Internet, house hunting can be made easy.

By Alanna Hunter

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ForSale

Housing Market Continues Improving as Sales Rise in July

Housing recovery continues with solid numbers in every region

The housing market continues to improve as the national median existing-home price for all housing…

By Alan Hughes

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homeforsale

Housing Market Recovery Good News for Home Depot

The housing market rebound has been a boon for Home Depot

Retailer reports higher earnings, revenues for second quarter

By Alan Hughes

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homeforsale

Home Prices Rise on Eve of Obama Speech, But Just Slightly

Obama makes major policy speech in Phoenix, Ariz.

President Obama on Tuesday reiterated his administration’s goal to expand economic opportunity for the middle…

By Darren Sands

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Egypt Sherrod

Tips on Home Buying from Egypt Sherrod

Radio and tv personality Egypt Sherrod gives home buying tips.

Few urban radio personalities have managed the double duty of holding down their spot on…

By Sasha King

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Tips for Avoiding Timeshare Resale Scams

Anxious to sell? Don’t get taken for a ride.

Fraudsters have been using the dip in the economy as an opportunity to prey on…

By Sheiresa Ngo

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Q&A: Kofi Natei Nartey, LA Luxury Real Estate Broker to Sports, Movie Stars

Realtor to the stars dishes on success, professionalism and what's next

Nartey’s counts Laz Alonso, Kevin Durant and Neve Campbell among his clients.

By Darren Sands

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How to Make Home Ownership and a New Marriage Work

Does it have to be complicated?

Before you run out and start looking at all of the fabulous properties you could…

By Jennifer Streaks

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Bank of America Misled Homeowners, Suit Says

Since 2012, more than 18,000 homeowners have filed complaints about Bank of America with the Consumer Financial Protection Bureau

Former BoA employees said they were told to falsify electronic records and foreclose on homes.

By Makkada B. Selah

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ForSale

Homebuilders Struggle to Keep Up With Demand in Improved Market

Retaining dwindling workforce a hinderance

The latest is according to a new report by CNN Money which says that builders…

By Darren Sands

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homeforsale

As Home Prices Rise, Analysts Consider An Impact on the Economy

New report indicates owning a home is more difficult for the middle class

Despite assurances from some analysts that the economy will improve because a home is the…

By Darren Sands

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mortgage-foreclosure

Banks Slow to Pay Owed Money to Homeowners

A disproportionate number of black and Latino families were victims of predatory lending practices

Less than half of the settlement money has been doled out to predatory lending victims.

By Aaron Morrison

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mortgage-foreclosure

Good Sign: Home Foreclosures at a Six-Year Low

Even the number of homes considered underwater are lower than a year ago.

New report supports belief that housing market is experiencing a real rebound.

By Aaron Morrison

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4 Ways to Avoid a Moving Scam

Protect yourself when making a move

Excited about getting the keys to your new place? Before you move, learn how to…

By Sheiresa Ngo

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fantasia-barrino-loses-home-black-enterprise

Fantasia Loses Her House After Failing to Sell at Preferred Price

Reports are surfacing that after being unable to sell her home, she relinquishes it to the bank

Will the problems keep mounting for the American Idol winner, Fantasia, who just recently lost…

By Cedric 'BIG CED' Thornton

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Hurricane Sandy Aftermath

6 Months After Hurricane Sandy, “Thousands” Still Homeless

Hurricane season is right around the corner

Many are still not out of the woods in the most affected areas.

By Darren Sands

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house for sale signs

Housing Market is Up and Down, Numbers Show

Some housing construction is making a difference

New numbers have some analysts looking up.

By Kenneth Meeks

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detroit homeowners squatters

Detroit Homeowner Threatens Potential Squatters With Gunshots

If your home is vacant in Detroit chances are someone will treat it like their home.

Detroit homeowners face squatters who make their homes their own

By Sasha King

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Childhood Home of Notorious B.I.G. Up For Sale for $725,000

The residence remains an attraction for tourists

For three-quarters of a million dollars, you, too, can let your tape rock until your…

By Darren Sands

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r-kelly-trapped-in-the-closet-broadway-black-enterprise

R. Kelly’s Chicago Mansion Foreclosed and Sold at Auction

R. Kelly is one of the highest-earning recording artists of all time

The “Trapped in the Closet” singer defaulted on a 3.5 million dollar mortgage

By Makkada B. Selah

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New Report Claims Almost a Third of Americans are Mortgage Free

Retirees comprise largest group of mortgage-free homeowners

This demographic of America is free from a mortgage obligation.

By Ashley R. Harris

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allen-iverson-home

Allen Iverson Loses Atlanta Mansion to Foreclosure

Home reportedly sold for $2.5 million

Allen Iverson is again in more financial trouble.

By Darren Sands

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mortgage-rates

A Crash Course on the CFPB and Why it Matters to all Future Homeowners

It's going to be harder to get a loan, but it's for the greater good

Beginning in January, servicers will also have to notify borrowers of foreclosure alternatives after the…

By Ashley R. Harris

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Kenyon Martin

Kenyon Martin’s $3 Million Home in Texas is for Sale

Clippers forward is in the twilight of his career. Could he just be starting out as a savvy businessman?

Kenyon Martin is selling a home in Texas.

By Darren Sands

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The interior of a brownstone on W. 121st St. in Harlem, which recently sold for $3 million.

Harlem Brownstone Sells for Whopping $3 Million

Home is most expensive sale in Harlem 2012

The home went for $3 million, just over the asking price of $2.85 according to…

By Darren Sands

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Report: Freddie Mac’s Housing Forecast for 2013 Looking Up

Housing continues positive trend

Property values are expected to rise into the next year and are likely to increase…

By Ashley R. Harris

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A More Efficient Form of Relief for Hurricane Sandy Survivors

With HUD, Sandy survivors looking for a place to spend the holidays now have another option

The federal government is stepping in for families in need.

By Ashley R. Harris

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black man in tie giving thumbs up

At Year’s End, Mortgage Prices Continue to Fall

Mortgage rates declining at the end of the year

Rates decline, signaling hope for the housing market

By Ashley R. Harris

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Attention New Homeowners: We Want Your Story!

Your stories can inspire others

Highlighting our victories.

By Darren Sands

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mortgage-rates

Record-Low Mortgage Rates Don’t Mean You’ll Get Approved

Some struggles persist for would-be first-time homebuyers

Do low mortgage rates across the board make one more or less worthy?

By Jennifer Streaks

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chris-christie-talking-featured

NJ Governor Not Using $300 Million in Funds to Help Foreclosure Victims

Why isn't Christie helping foreclosed homeowners?

Christie hasn’t used more than $300 million in federal funds to help those struggling in…

By Black Enterprise

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mortgage-foreclosure

Mortgage Companies Forgiving Homeowners Big Time

First report of the foreclosure abuse settlement shows banks swiftly pardoned half of the $20 bil required

First report of the foreclosure abuse settlement shows banks swiftly pardoned half of the $20…

By Sakina P. Spruell

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Mortgage Rates Slightly Above All-Time Low

Average on a 30-year loan is currently below 3.6%

In recent weeks, U.S. mortgage rates have fallen across the board, causing the housing market…

By Sakina P. Spruell

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Homeowner and landlord Magda Brown

It Pays to Own

Landlord and homeowner Magda Brown uses her multifamily home to help defray the cost of homeownership

“My landlord owned a few buildings and I loved his lifestyle,” says Brown, now 30.…

By Tamara E. Holmes

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home buyer

Housing Market Gets A Boost with Increased Home Sales

Report by the National Association of Realtors show an increase in home sales.

July showed a 2.3% increase in the number of homes sold.

By Sasha King

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vacation home

5 Tips for Renting Your Vacation Home

Know the rules before filing your tax forms

If you plan on making some extra cash by renting your vacation home this year,…

By Sheiresa Ngo

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Renters

Free!! Books of the Week – House Hunting

Visit our BE Rewarded site to win FREE Book Bundles!

Interested in owning your own home? Alleviate some of the stress with these house hunting…

By Sasha King

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Brian and Robin McLean and daughter Autumn (Photo by Paul Nurnberg)

Beyond Homeownership

Military benefits gave Brian McLean, 27, and his wife, Robin, 29, a great head start…

By Sakina P. Spruell

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Preview B.E. Business Report: How to Recover From Home Foreclosure

Also: Sea World President Terry Prather; Entrepreneurs of the Week Rodney Hughes and Tony McGee

Author Valerie Coleman Morris provides solutions for those recovering from home foreclosure

By BlackEnterprise.com

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Ask the Money Coach: Should You Walk Away from Mortgage Debt You Can’t Afford?

Carefully consider the potential pros and cons from walking away from your mortgage

How to carefully consider the potential pros and cons of walking away from your mortgage

By Lynnette Khalfani-Cox

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black-man-homeowner-300x232

Don’t Blame Minority Homeowners for the Housing Crisis

Real estate expert Ingrid Beckles says contrary to some opinion, minority and low-income homeowners are not to blame for the housing crisis

Real estate expert Ingrid Beckles says contrary to some opinion, minority and low-income homeowners are…

By Ingrid Beckles

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photo: Quantrell D. Colbert

Make Your Mortgage Affordable

Improve your chances of getting approved for a home loan modification

Kimberly Whitehead was just a week shy of seeing her foreclosed one-bedroom condominium in Atlanta…

By Carolyn M. Brown

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How to Benefit from Making Home Affordable Refinance Program

What you need to know to take advantage of President Obama's revised plan for underwater homeowners

Real estate expert Indrid Beckles tells you what you need to know to take advantage…

By Ingrid Beckles

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Is Your Home an ‘Asset’ or a ‘Liability?’

How to know the difference and realize the true value of your home

The Money Coach Lynnette Khalfani-Cox tells you how to know the difference and realize the…

By Lynnette Khalfani-Cox

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The Truth About ‘No Cost’ Loans from Home Lenders

Here's an estimate of what you can typically expect to pay for your mortgage

Here’s an estimate of what you can typically expect to pay for your mortgage

By Lynnette Khalfani-Cox

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Photo by Nick Antony

Property Ladder

Jumoke Dada--young, single and a successful real estate investor

“The rent is too damn high,” is not just the campaign slogan of former New…

By Aisha I. Jefferson

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Photo by Rayon Richards

Living Solo in the Big City

Erica Horne braces for unexpected expenses as she becomes a homeowner in New York

New York native Erica Horne, 35, wonders how she will continue to make ends meet…

By Sakina P. Spruell

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On July 31, the National Bar Association held a panel to discuss the impact of the foreclosure crisis on communities of color at its 86th annual convention and exhibits. Black Enterprise spoke with two of the panelists—Yolanda D. McGill, senior counsel of the Fair Housing and Lending Project with the Lawyers’ Committee for Civil Rights Under Law, and Vicki King Taitano, director of the Foreclosure Legal Assistance Project with the Maryland Legal Aid Bureau—to get their thoughts on this growing problem. McGill noted the rise of scammers as one. "The overrepresentation of minorities in our scam database is very troubling and likely has many causes, such as the wealth gap that leaves struggling homeowners no savings or family funds to lean on and drives them to seek foreclosure rescue and modifications more often,” she says. “We also know that scammers tailor their marketing language to ethnic minorities, and there are organizations trying to determine if this activity is in violation of the law." With that in mind, here are five signs of a foreclosure rescue scam. —Sheiresa Ngo

5 Signs of a Foreclosure Rescue Scam

If someone makes you an offer that sounds too good to be true it probably is

One problem that often crops up during the process of fighting foreclosure is the rise…

By Sheiresa Ngo

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renter2

Rental Payments Will Count Toward Credit History

How paying your rent on-time is a new way to build good credit

If you don’t own a home, have little credit card history, or don’t own a…

By Sheiresa Ngo

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05RealEstate Sharon_Morris1c

How to Negotiate the Best Deal on a Home

Learn when to buy, what to say, and how to secure a great price

Standard & Poor’s noted at the end of 2010 that six markets—including Atlanta, Miami, and…

By Tamara E. Holmes

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Locked-up-house-300x232

4 Tips to Keep Your HUD Home Out of Foreclosure

With the HUD mortgage counseling budget eliminated, more homeowners are at risk for foreclosure

The ongoing foreclosure problem facing U.S. homeowners is about to get worse now that Congress…

By Lynnette Khalfani-Cox

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black-homeowners-300x232

5 Rules for Getting a Great Deal on a Home

Follow these tips and snag a great price on your dream home

If you’re in the market for a new home, you’ll want to make sure that…

By Sheiresa Ngo

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Black-Couple-home-300x232

5 Steps Towards Homeownership

How to get into the house of your dreams without landing yourself in a nightmare of financial trouble

How to get into the house of your dreams without landing yourself in a nightmare…

By Tara-Nicholle Nelson

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7 Steps to Getting Over Foreclosure

What you can do before, during and after the process to ease the pain

What you can do before, during and after the process to ease the pain

By John Simons

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Rent or Buy? In Which Cities Is It Better to Own or Pay a Landlord?

Miami, Phoenix, Las Vegas top picks for planting homeownership roots

Miami, Phoenix, Las Vegas top picks for planting homeownership roots

By BlackEnterprise.com

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The Seals' (Photo: Lonnie C. Major)

How to Rebound From Foreclosure

A guide to financial (and emotional) recovery

It’s no mystery to blacks living in middle-class enclaves such as suburban Atlanta, parts of…

By John Simons

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How to Navigate Stricter Mortgage Lending Guidelines

Six tips to help you prepare for a home purchase

Now is the ideal time to purchase a home. Interest rates are at historic lows…

By Robin White Goode

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Rent or Buy? In Which Cities Is It Better to Own or Pay a Landlord?

Miami, Phoenix, Las Vegas top picks for planting homeownership roots

A breakdown of areas where its either smarter to rent a home or own one.

By BLACK ENTERPRISE

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New Study Shows 62 % Drop in Home Mortgage Approvals to Minorities

When the housing market collapsed, so did the number of home loans to Blacks and Latinos

Together, African-Americans and Hispanics were able to borrow 62 percent less to buy or refinance…

By Kenneth J. Cooper

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According to the 2010 Ariel Black Investor Survey, African Americans consistently saved and invested less than whites of similar incomes over the past decade. As BLACK ENTERPRISE CEO Earl "Butch" Graves, Jr. wrote in a recent Executive Memo: "Make money work for you, not against you. We must reverse this trend by taking a disciplined approach." For the February issue of BLACK ENTERPRISE magazine, I charged our Finance Editor John Simons and our Consumer Affairs Editor Sheiresa Ngo with wwweloping 10 power moves to improve our readers' finances. Follow these tips to better manage your money today an dreap huge benefits tomorrow!--Derek Dingle

10 Power Moves to Help You Better Manage Your Money

Simple steps to help you spend, save and invest smarter

According to the 2010 Ariel Black Investor Survey, African Americans consistently saved and invested less…

By Derek T. Dingle

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Rescuing Communities of Color

The whole world prepares for Obama's first State of the Union Address of 2011 and his plans for our financial recovery

With less than a week before President Obama’s State of the Union Address, political and…

By Derek T. Dingle

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The Midterm Elections: Candidate Hansen Clarke

A review of Black candidates running for office in the Nov. 2nd elections

To help you be informed and prepared when you go to cast your vote on…

By Joyce Jones

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Soledad O’Brien on Why Some Black Families Struggle Financially

CNN's 'Black in America: Almighty Debt' host sheds light on the origin of our financial woes

“The impact of decades of slavery, Jim Crow and unfair hiring practices are still…

By Tomika Anderson

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How to Navigate Stricter Home Buying Guidelines

5 tips to help you be prepared before closing

Now that credit guidelines are stricter for potential home buyers, some may be wondering how…

By Robin White Goode

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Watch: CNN Tackles Almighty Debt on ‘Black in America’

Host Soledad O�Brien talks to Black Enterprise editors about our community�s struggles with debt management

Soledad O’Brien takes a look at “almighty debt,” its effect on the Black community and…

By BLACK ENTERPRISE

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BlackVoters

Four Reasons Midterm Elections Matter

Lawmakers, political analysts warn that changing of the guard will hurt most African Americans

Voter turnout for midterm elections tends to be anemic compared to presidential contests. In 2006,…

By Joyce Jones

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Is Owning Your Own Home Still Ideal?

In some cities it is actually cheaper to rent

Economic conditions may be driving more Americans to choose tenancy over the American dream of…

By Black Enterprise

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There’s No Place Like (A New) Home

Doliviera and Angela Henry take advantage of a nonprofit program to buy their first home

“We had to start building a future for ourselves, for our children, and that starts…

By LaToya M. Smith

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What To Do About An Underwater Mortgage

Should you maintain or bail?

Thirty-five percent of African American homeowners in the U.S. are currently underwater. If the home…

By John Simons

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Real Estate Insider: 4 Things to Know About Reverse Mortgages

Real estate news and advice for individuals and investors

With the number of potential borrowers growing with the aging population, it’s important that homeowners…

By BLACK ENTERPRISE

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Jackson says the key to fundraising is getting an early start

Nonprofit Insider: 4 Steps to Fundraising for Your Nonprofit

Information and resources for starting and growing your nonprofit

Samuel T. Jackson, founder and CEO of the Economic Empowerment Initiative, provides these four tips…

By Marcia Wade Talbert

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The Black Enterprise Wealth For Life Principles

Step-by-step guidelines to responsible saving, investing, and spending to build wealth and pass it on to future generations

The 10 Black Enterprise Wealth for Life principles are meant to serve as a step-by-step…

By BLACK ENTERPRISE

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What Does Financial Reform Have To Do With Me?

Plenty. Here's a quick breakdown the parts of the bill that affect you.

After more than 8 million jobs were lost and hundreds of banks closed, financial reforms…

By Sheiresa Ngo

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Senate Overwhelmingly Approves Consumer Protection Bill

Legislation will protect blacks from discriminatory financial practices

The Senate voted Thursday to pass a Wall Street reform bill, which includes major reforms…

By Joyce Jones

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Foreclosing as a Financial Strategy

It's called strategic defaulting, and more homeowners are doing it

Fannie Mae recently announced that it would penalize borrowers who purposely forego their home loan…

By John Simons

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Administration Approves $1.5 Billion in Aid for Homeowners

Fund encourages states to develop less stringent solutions to prevent foreclosure

The U.S. Treasury announced Thursday that it has approved $1.5 billion in Hardest Hit Fund…

By Joyce Jones

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Billions in Wealth Lost Since Foreclosure Crisis Began

African American communities to lose $193 billion by 2012

Communities of color have lost billions in wealth since the current foreclosure crisis began, according…

By Deborah Creighton Skinner

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Money Matters: Do I Need This Type of Insurance?

Or was I duped into spending more money than I need to?

Along with monthly mortgage payments, I pay an additional $16 for insurance that will automatically…

By John Simons

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You Better Shop Around

Four steps to getting the best deal on a home loan

Some 92% of homebuyers finance their purchase with a mortgage, according to the National Association…

By Tara-Nicholle Nelson

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Your House is a Home—Not an ATM

Although property can serve as a valuable wealth-building too, it also serves a practical purpose�it's where you live

The nation may be in recovery mode but millions are still stuck in a financial…

By Earl "Butch" Graves Jr.

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Low-Cost Eco-Friendly Design Options for Your Home

Affordable strategies for greening your abode

Most families hear the word “green” or “eco-friendly” and immediately think that it means unaffordable.…

By Robin Wilson

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Don’t Walk Away

Weigh the pros and cons before you walk away from your home

Until recently, owning a home was the wealth-building move. These days, many homeowners are contending…

By Tara-Nicholle Nelson

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Learning From the Kennedy Green House Restoration

Turning a mold-infested house into an eco-healthy home

Eco-designer Robin Wilson discusses the Kennedy Green House restoration, and how you can green your…

By Robin Wilson

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Bank of America Offers Bailout to Homeowners

Plans to extend $3 billion in loan forgiveness to 45,000 homeowners struggling to stay afloat

If you have a mortgage with Bank of America, and you’re extremely underwater, you just…

By Sheiresa Ngo

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The Homebuyer’s Toolkit: Do it Yourself!

Today's lesson: Patching a hole in your drywall

From time to time, you may have to make interior improvements to your home such…

By LaToya M. Smith

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The Homebuyer’s Toolkit: Choosing the Right Neighborhood

When purchasing a home, it�s all about location, location, location

Found the perfect house? Make sure the environment is equally ideal. There’s nothing to be…

By LaToya M. Smith

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When Should You Refinance?

How to know when it�s time to apply for new mortgage terms

When 32-year-old James W. Johnson of Raleigh, North Carolina, bought his first home five years…

By Tamara E. Holmes

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Demystifying the Mortgage Modification Process

Rainbow/PUSH Coalition counselor advises delinquent homeowners

Loan modification counselor discusses when homeowners should modify their loan, why banks are not modifying…

By Marcia Wade Talbert

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The Homebuyer’s Toolkit: Title Insurance

Understand what title insurance can protect you from before buying a home

Buying a home entails much more than I anticipated. Just when I thought I had…

By LaToya M. Smith

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The Homebuyer’s Toolkit: Condo or Co-Op?

What you need to know before buying a condo or co-op

If shoveling snow, mowing the lawn, and general maintenance is not up your alley then…

By LaToya M. Smith

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Money Matters: Should I Ditch My Home?

Maintain your mortgage payments (if you can) even if you're "underwater"

I don’t have equity in the home I bought three years ago. When is it…

By John Simons

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The Homebuyers Toolkit: Renting vs. Buying

The pros and cons of both options should be considered when shopping for a home

In today’s market should you rent or buy? “Your decision to buy or rent depends…

By LaToya M. Smith

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How to Finance a Fixer-Upper on a Modest Budget

The house you want to buy needs some work, but you don�t have the money for repairs. Here�s one option.

A reader recently wrote to me asking about options for financing the purchase of a…

By John Simons

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The Homebuyer’s Toolkit: How Your Credit Score Adds Up

Understanding and protecting your credit score is an important key to homeownership

Do you request your credit report every year? Admittedly, I have to say I don’t.…

By LaToya M. Smith

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The Homebuyer’s Toolkit: Building Financial Security

Owning a home should be part of a larger commitment to gaining financial security

Over the Thanksgiving break I became addicted to a show called Till Debt Do U$…

By LaToya M. Smith

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Should You Have Faith In A Good Faith Estimate?

When mortgage shopping, break down the costs and make sure you are comparing apples to apples

I was speaking with a client yesterday who was thoroughly confused by the good faith…

By Kirk Charles

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What’s A Short Sale In The Long Run?

It's not a foreclosure, but it could still make it harder to buy another home

Yesterday afternoon I was in an attorney’s office and a gentleman came in for a…

By Kirk Charles

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Foreclosures of the Rich and Famous

A look back at celebrity homeownership woes

Since the highly publicized foreclosure woes of Evander Holyfield and Michael Jackson, more celebrities have…

By Janell Hazelwood

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The Homebuyers Toolkit: Money Attitudes and Budgeting

Homeownership means learning to understand and manage your finances

Last weekend I attended The Money Conference for Women in Hartford, CT. A 26-year-old woman…

By LaToya M. Smith

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ARMed And Dangerous? Don’t File For Bankruptcy

An adjustable rate mortgage can turn a Chapter 13 filing from bad to ugly

Just got a phone call from a couple thinking of filing Chapter 13 bankruptcy. …

By Kirk Charles

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The Homebuyers Toolkit: Let’s Talk Money

There may be grants to help you buy your home�if you know where to look

The biggest hurdle to homeownership for some is the down payment and closing costs. These…

By LaToya M. Smith

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The Homebuyers Toolkit: Key Players

The role of the realtor, attorney and home inspector

Buying a home is a personal decision, but the process is not so private. Generally,…

By LaToya M. Smith

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Congress Expands Homeowner Tax Breaks

First-time homebuyer tax credit extended to June

If you were rushing to close on a house before the end of the year,…

By Renita Burns

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The Homebuyers Toolkit: Qualifying For A Mortgage

Know your options for financing your purchase�and paying off the loan

“What happens when you go to a lender,” asked Deborah Johnson, vice president and relationship…

By LaToya M. Smith

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The Homebuyer’s Toolkit: Getting Started

How to know if you're ready and what banks are looking for

The process of buying a home can be overwhelming. I feel your pain, I’m there…

By LaToya M. Smith

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Scam Alert: Cash For Home Offer May Not Be What You Think

Tempting offer proves to be fool's gold

“Sell you home for cash” signs are ubiquitous, and unfortunately, sketchy, says Manny Alvarado, operation…

By Renita Burns

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Choosing a Contractor

This home improvement guide will show you how to choose the best person to work on your dwelling

After experiencing a home break-in this summer, Atlanta residents Jamilia and Charles Smith decided to…

By Lauren Lea

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Hey, Mr. President, How About A Holiday?

Let's give homeowners the option of not paying their mortgages for one full year

I am talking about a one year Mortgage Holiday where homeowners will not be required…

By Warren Ballentine

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Cutting Edge: Four Tips for Understanding A Mortgage

Using due diligence can help you avoid pitfalls

Despite the housing crisis that helped submerge the nation leagues under troubled financial waters, homeownership…

By Renita Burns

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For Loan Modification, Don’t Fall Behind

You don't have to become delinquent to get help

When Jamie Arthur heard about President Barack Obama’s Making Home Affordable plan, a sense of…

By Renita Burns

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Is Now the Time to Buy Real Estate?

The pros and cons of purchasing distressed properties

If you believe in the investment philosophy “buy low and sell high,” then you’re probably…

By Bridget McCrea

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How to Save $66,000 on Your Mortgage

Bi-monthly loan payments save money and time

What if you could pay off your 30-year mortgage in 22 years?
Would you do it?
Consider…

By Renita Burns

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Fair Access to Mortgages Still Illusive for Minority Women

Report finds disparities by race widened as income levels increased

African American and Hispanic women continue to receive disparate treatment in the mortgage lending process,…

By Janell Hazelwood

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You Can Still Get a Mortgage

Tips on financing in a tight credit market

Bankers, brokers, and swindlers aren’t the only ones to blame for the subprime mortgage mess.…

By Chana Garcia

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Foreclosure Lifelines

In danger of losing your home? Help is available

Nearly one in three Americans, or 31%, say they know someone who has already lost…

By Deborah Creighton Skinner

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Foreclosure Prevention Gone Awry?

'Justice League' clamps down on home mortgage scams

The ink on President Barack Obama’s massive stimulus plan hadn’t dried before spurious Websites sprouted…

By Renita Burns

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HUD Outlines Homeowners’ Rescue Plan

If you’re one of the seven to nine million homeowners whose monthly mortgage payments are…

By Marcia Wade Talbert

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5. I Will Use Homeownership as a Foundation for Building Wealth

While these are uncertain economic times, financial experts agree that owning a home is still…

By Carolyn M. Brown

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Women of Power

KeKePalmer-SherriShepherd-activate

[RECAP] Activate Conference Wows and Inspires New York City Power Women

The Activate Conference, held Sept. 20 at the Times Center in NYC, featured speakers Keke…

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Cool Jobs: Television Executive Micheline Bowman Balances Career and Side Hustle

Fox News’ Micheline Bowman has more than 15 years experience in television and has a…

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