No More Home Equity Line of Credit?! - 02/25/08 01:35 PM
Today's consumer news brings more "argh" to our world.  According to the Saturday section of the Washington Post, many banks are cutting consumers off from further use of their Home Equity Line of Credit - or HELOC.  Most HELOC agreements include language that allows them to periodically reassess the value of the property that is used as collateral.  If your property has declined in value, so has the available credit line.
While this doesn't necessarily have a direct impact the real estate sales market, it could possibly have a trickle down effect. Home owners who were relying on their HELOC to help pay … (0 comments)

Every Monday Morning - 02/18/08 09:06 AM
Every Monday morning I receive an mortgage market update from a very reputable mortgage broker in the area.  Today's update was regarding how the Stimulus Act will impact conventional loan limits in our area.  While nothing is cast in stone as of today, the new loan limit may be increased to as much as $550,000 - an increase of $133,000 over the previous limit.  But, who knows when this new limit will go in to effect.  There are many steps to take before we can begin to take advantage of the new limit.
1.  The current area median house prices must be published so the new … (3 comments)

 
Heather Embrey , Your :) Real Estate Source (McEnearney Realtors Northern Virginia 571-236-2616) Rainmaker_large

Heather Embrey , Your :) Real Estate Source

Falls Church, VA

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McEnearney Realtors Northern Virginia 571-236-2616

Office Phone: (703) 790-9090 x 447

Cell Phone: (571) 236-2616

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