|
| |
mortgage: Second Mortgage Won't Accept The First's Approval - 05/06/11 09:48 AM
I am currently representing a Buyer client on the purchase of a Short Sale. The Seller's first mortgage is a Fannie Mae backed loan with Wells Fargo. The second is with US Bank. This is a traditional short sale, not HAFA.
Wells Fargo has issued their approval, with no Seller contribution at closing or promissory note. They have allocated 10% to the second mortgage, per their investor guidelines, and will permit no more - to the exclusion of additional funds/promissory notes from the Seller or the Buyer that those parties would be willing to bring to the closing table. US … (14 comments)
|
mortgage: Refi and Rent Out to Buy New? What Not to Do ... - 11/20/10 03:11 PM
Buying a new home and renting out the old one Realty Q&A - MarketWatch. Written By: Lew Sichelman. The author and nationally syndicated columnist is also a contributor to RealtyTimes® and HouseLogic ... the latter being a subsidiary of the National Association of Realtors®. Did Mr Sichelman really write and recommend the following strategy? "... But the only way you can pull $50,000 out of your present abode is to refinance. And to do that, you’ll have to certify that you will occupy the place. So don’t let anyone in on your plan, especially your loan officer. And don’t buy your … (5 comments)
|
mortgage: Lowe’s & RE-Build USA Working Together to Facilitate FHA’s 203k Rehab Loan Program - 11/17/10 05:02 PM
Lowe's Home Improvement Streamlining the Streamline (and Standard) 203k Program. Teamwork between the lender (approved by FHA), real estate agent (your 203k Specialist) and Lowe's (as the construction consultant and supplier) creates success for both the seller and buyer of a home that needs TLC. Repairs that the seller can't afford to make and the buyer can't afford NOT to invest in can finally be achieved. Contact me to find out if a 203k loan is right for you!
Kim Novak, RE/MAX Masters
kimnovak@remax.net
(801) 726-1443
… (6 comments)
|
mortgage: Don't Be Afraid of 203Ks - 11/17/10 04:57 PM
Yes, they're "harder" than the average mortgage, but the benefits are well worth it! Remodel a house to make it your home ... better than new construction in half the time. 203K Rehab Mortgage. RE-Build USA's 203K Specialist Program & Certification I'm excited to complete this program as a value added service for my current buyer clientele considering "fixer-upper" opportunities and my past clients who want to remodel their current homes - sans credit card(s).
There are two versions of the 203K Rehab Mortgage - Streamline and Standard. Both are quasi construction loans, with the homeowner working directly with their lending … (0 comments)
|
mortgage: FHA/VA Rates Jump - 11/17/10 04:26 PM
For over a month, FHA and VA 30-year fixed mortgage rates have steadfastly held at 4%. Those rates have jumped to 4.25%, most likely as fall out over the Fed's $600 Billion Monetary Stimulus Plan initiated the day after the mid-term elections on Nov 2nd. As a VA buyer who purchased my first home back in the early '80's when the "discounted" VA rate was 12%, and getting ready to refinance my current VA loan at at a 3% 5/1 ARM, I believe that a 4.25% 30-year fixed rate is still kinda sorta really good :-) … (7 comments)
|
mortgage: Invitation to Join Facebook Page: Short Sale Strategies, Tips & Resources to Avoid Foreclosure - 12/07/09 02:28 PM
Short Sale Strategies, Tips & Resources to Avoid Foreclosure on Facebook A place for home owners facing mortgage troubles to find the resources & professional insight in to avoiding foreclosure. Both the public & the real estate community are welcomed to share their experiences, start a discussion or ask/answer questions. … (6 comments)
|
mortgage: Utah Housing Rate 6.375% ... Really? - 05/25/09 01:15 PM
Utah Housing Corporation vs Idaho Housing & Finance Association
Can someone please explain to me why the Utah Housing (a public corporation created by the State of Utah) rate, whose charter is to:
...assist low- and moderate-income homebuyers with the purchase of a home. All loan programs offer reasonable interest rates and three of the programs make available down payment and closing cost funds... UHC Brochure
is currently offering a rate 27.5% higher than the 5% FHA and VA rate competitively offered by most lenders in Northern Utah?
The IdaMortgage rate is 4.86% today! In addition, Idaho has already figured out a … (0 comments)
|
|
|
|
|
|
Kim Novak, REALTOR®
Layton,
UT
More about me…
RE/MAX Masters
Address: 3636 N 2900 E, Layton, UT, 84040
Office Phone: (800) 977-7835
Cell Phone: (801) 726-1443
Email Me
News, Trends & Discussions
About The Real Estate Market
in Northern Utah
 Listings
Links
Archives
|
|
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2012 ActiveRain Corp. All Rights Reserved
;)
;)
;)