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minnesota loan: MN Appraisals-Low Valuations Common In Twin Cities Real Estate Market - 01/03/10 06:29 PM
Here is a link to a Yahoo article of low valuations: Low appraisals are common throughout the country and the Twin Cities real estate market.
http://finance.yahoo.com/news/Foreclosures-weigh-on-home-apf-850847141.html?x=0&sec=topStories&pos=5&asset=&ccode=
I can tell you from experience that the trend is not any different in Minnesota either. You will find many times that the only current sales are distressed sales. Unfortunately, sometimes these sales set the bar that needs to be used to determine what a home is currently worth. Lenders may even "adjust" the valuation if they think it is too high after they do an AVM (automated valuation model). So, a property appraisal doesn't necessarily … (0 comments)
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minnesota loan: Minnesota mortgage Rates - 12/01/09 06:51 PM
Rates Have Hit All-Time Low Levels Again!
In case you haven't caught the news, home loan rates have done it again, dropping to their lowest level...ever. Not only has the 30 Year Fixed rate returned to its lowest all time level, rates across the board are at their lowest levels.Yes, that means, go ahead and choose your flavor - 30 Fixed, 15 Fixed, 5/1 ARM or 1/1 ARM - all loan types hit their lowest levels of the year! For the weekly Freddie Mac survey of all lenders, this is the first time that all have been at their lowest level.You … (0 comments)
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minnesota loan: Mortgage Forgiveness Act Provides Income Tax Relief To Foreclosed Homeowners - 01/20/08 09:02 PM
What's positive about being foreclosed upon or selling your home for less than you owe? Well, for most people, not much. Yes, you are relieved of an onerous mortgage loan and you are now free to find housing that is more affordable within your budget. But not everyone fully understands the lingering effects of a foreclosure as it pertains to the mortgage debt forgiveness. This applies to foreclosures, short sales and a deed in lieu of foreclosure.
Foreclosure can be one of the most devastating things a homeowner can face. At a minimum, they will end up with damaged credit. Until recently, … (3 comments)
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Patti Mazzara NMLS #333279
Edina,
MN
More about me…
Venture Development Inc NMLS #373115
Address: 7300 France Ave S #410, Edina, MN, 55435
Office Phone: (952) 285-4319
Cell Phone: (612) 237-6277
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Learn about the Twin Cities real estate, minnesota real estate, minnesota home financing, minnesota mortgages, FHA, VA, Reverse Mortgages, Debt Consolidation, refinancing, first time buyer programs, interest only loans, Edina, Minneapolis and St Paul. Visit our mortgage site at http://www.ventureloanapp.com or http://www.edinamortgage.com
Patti Mazzara NMLS #333279
Venture Development NMLS #373115
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