Ar_home_b_search
 



bailout: North Carolina's Governor Signs 3 Foreclosure Bills - 09/23/08 08:22 AM
In light of recent soaring foreclosure filings in North Carolina - 24% from June 2008 and 125% from July, 2007 - Governor Mike Easley signed a bill to offer relief to homeowners and banks alike. The North Carolina Foreclosure Prevention Project requires that both homeowners and the state's bank commissioner must receive 45 days notice before a foreclosure is filed and also allows the bank commissioner to extend any foreclosure filing notice by 30 days.  During this time, the state would negotiate with the homeowner and mortgage holder on their loan interest rate and payments. Easley estimates that that the law could help … (2 comments)

bailout: Why Is It A Great Time To Buy? - 09/12/08 06:33 PM
There are a number of reasons why it is a great time for first-time home buyers to jump in and buy this Fall, including:
The inventory is great and prices are very competitive as the market is stabilizing, thanks to the government takeover of Freddie Mac and Fannie Mae. Interest rates have already dropped .5% are they are likely to decline further as Freddie and Fannie get government help. The Federal Housing Administration recently boosted its loan limits.  In Orange and Durham Counties, FHA provides mortgages up to $331,250.  The great thing about FHA is the borrower only needs to put … (1 comments)

bailout: Freddie Mac and Fannie Mae - 09/12/08 06:29 PM
I am sure you are hearing in the news about the Government stepping in to provide stability to Fannie Mae and Freddie Mac.  I received the information below from Robbie Oakes, a lender with Corporate Investors in Chapel Hill.  It is a great explanation of why this needed to happen. 
I did want to let you know that there has been an immediate effect on mortgage rates.  Today, they dropped about a .5 point and they could go lower.  Today's rates are:
5.375 for 15-year fixed
5.625 for 30-year fixed
Please read below if you want a great explanation for why this … (0 comments)

 
Rainmaker_large

Team Jodi - Chapel Hill Real Estate, Durham Real Estate

Chapel Hill, NC

More about me…

Jodi Bakst, Broker @ Chapel Hill Realty

Address: 6011 Farrington Road, Ste 102, Chapel Hill, NC, 27517

Cell Phone: (919) 697-5014

Email Me

If you are buying or selling in Chapel Hill, Carrboro, Durham, Hillsborough, Durham or Orange, Durham or Chatham Counties, you have come to the right place. Jodi Bakst and her Team of Real estate specialists provide seamless customer service for our buyer and seller clients throughout their relocation or move.


Listings

Links

Archives

RSS 2.0 Feed for this blog