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foreclosure: When Can You Buy Again After a Foreclosure? - 02/29/12 03:07 PM
Former homeowners that foreclosed or had a short sale may be able to purchase a home sooner than they expected.  Currently, the wait time to qualify for a home loan is 3 years through the Federal Housing Administration and 7 years through Freddie Mac and Fannie Mae.  If you want to purchase a home soon, look into the following:
A loan may be able to be secured with a higher interest rate. If a short sale was due to a job loss, the wait time may be waived. The time can be cut in half, or more, if a borrower can … (3 comments)

foreclosure: Want to Buy a Foreclosure? Ask These Questions First! - 02/16/12 12:26 PM
Right now, foreclosures in the Des Moines metro area are selling at a higher rate than traditional homes.  Foreclosures can offer big bargains, but buyers need to be careful. 
Most foreclosures are sold as-is and may have been left vacant a long time. This could result in a lot of maintenance problems that could offset any deal.
 
Things to ask and consider:
1. How long has the home been vacant? Remember, things break down when the utilities have been shut off for a long time.
2. How old is the home? Think outdated plumbing and electrical wiring.
3. What is … (0 comments)

foreclosure: Foreclosures and delinquencies drop in Greater Des Moines - 02/07/12 12:56 PM
Good news from data just released from CoreLogic. Check out the decreases in foreclosure rates and delinquent mortgages for the Des Moines-West Des Moines area:

Foreclosure rate:Nov. 2011: 2.48%Nov. 2010: 2.69%
Year-to-year rate dropped 12.48% National average was 3.41% in Nov. 2011  
Mortgage delinquency (90+ days):Nov. 2011: 4.71%Nov. 2010: 4.81%
 Year-to-year rate decreased 7.27%%  
… (0 comments)

foreclosure: Iowa Improves its National Foreclosure Ranking with Help of Hotline - 09/16/09 01:43 PM
The most recent data released by the Mortgage Bankers Association shows that Iowa improved its national ranking in foreclosures to sixth in the second quarter of the year from 26th in the first quarter of 2007. If you are facing foreclosure, contact Iowa's state foreclosure help hotline at (877) 622-4866 or visit www.iowamortgagehelp.com.
… (0 comments)

 
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Cy Phillips

West Des Moines, IA

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