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twin cities real estate market: 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)

twin cities real estate market: Minnesota Mortgage Options For Those With A Bankruptcy| MN mortgage info - 06/21/08 05:14 PM
Under most loan underwriting guidelines, bankruptcy-Chapter 7 and Chapter 13 will require a waiting period after the discharge date.  It is not uncommon to find conventional mortgage guidelines that require a 2-4 year re-establishment of credit before obtaining a new loan. 
FHA loans allow a borrower who is CURRENTLY in a Chapter 13 Bankruptcy to obtain an FHA mortgage for either a purchase or refinance.  This is a real opportunity for borrowers who may think they have to wait before they can buy a home.  The key point to remember is that the last 12 months of bankruptcy payments must have been … (0 comments)

 
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Patti Mazzara NMLS #333279

Edina, MN

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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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