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buyers: More Financing Hurdles for Borrowers! - 06/16/10 12:46 PM
It hasn't gotten very much attention, but recent changes from Fannie Mae will make it more difficult for home buyers to close on loans. The new Loan Quality Initiative will require lenders to pull a second credit report right before closing to ensure that borrowers haven't taken on an unmanageable additional payment before closing. That means if you're thinking about buying new furniture to put in you beautiful new home, you could put yourself in a position to not be able to buy that home! The new rules stipulate that if your credit score changes by more than two points the … (3 comments)
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buyers: Deadline for Tax-Credit Closing to be Extended? - 06/14/10 03:16 PM
The Senate is expected to take up a bill this week that would extend the deadline for tax-credit closings by up to three months. The bill would not allow new buyers into the program, but would give an extension of the closing deadline to those already under an agreement of sale. The bill seems to have support from both sides and is sponsored by Majority Leader Harry Reid and co-sponsored by Republican Johnny Isakson and Democrat Chris Dodd. The National Association of Realtors says that up to 180,000 buyers may be affected by the approaching deadline.
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buyers: The Home Inspection Process (Buyers edition) - 05/26/10 12:34 PM
I get a lot of questions from home buyers and sellers about the home inspection process. Today we'll look at it from the buyer's point of view. We'll look at the seller's side later this week.
First of all, is it necessary to have a home inspection? Necessary, no; recommended, yes. A good home inspector will find out if the home you've made an offer on is as sound as you think (and hope!) it is. The purpose of the home inspection is to find the issues in a home that a trained inspector can see and that the buyer can't. For … (0 comments)
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Joe Corcoran
Bethlehem,
PA
More about me…
Deb and Joe Corcoran, Keller Williams Real Estate
Address: 2901 Emrick Blvd, Suite 100, Bethlehem, PA, 18020
Office Phone: (484) 893-1234
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