mortgage loans: Why Are Home Buyers Coming Back To The Market Now? There's Suddenly Good Value In Real Estate. - 07/25/08 04:47 PM
Statistics won't always tell the whole story, but they often provide good perspective.
The graph at right shows Existing Home Sales data going back three years. An "existing home" is one that can't be called new construction; a "used home", so to speak.
Note the steep decline from 2005 through … (1 comments)
|
mortgage loans: 8 REASONS WHY YOU SHOULD WORK WITH A REALTOR - 07/25/08 12:34 PM
8 Reasons Why You Should Work With a REALTOR®
1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.
… (0 comments)
|
mortgage loans: .Freddie Mac's SEC Filing : The 2 Sentences That Matter In A 1,394-Page Document - 07/24/08 04:40 PM
Sometimes, the hardest part about news is knowing where to find it.
In its filing with the SEC last week, Freddie Mac stated that it will "pursue increases" to its middleman fee. This would likely make mortgages more expensive for every conforming borrower in the country.
The exact verbiage from … (0 comments)
|
mortgage loans: LendEthics -- Supporting Certified Loan Professionals and Consumers... - 07/24/08 12:32 PM
That's right, a company that is solving some major issues. I am writing this out of extreme excitement with responses we are receiving!
LendEthics.com is the consumers' way to find out great information about mortgage loans, mortgage calculators, and most of all in just 2 minutes they can be matched to … (0 comments)
|
mortgage loans: The Inflation Calculator Checks Whether Your Income Is Keeping Pace With The "Cost of Life" - 07/22/08 02:44 PM
The phrase "Consumer Price Index" can be intimidating and unclear to Americans. It's an economic term, after all, and not a part of everyday American language.
It even has its own abbreviation to add to the confusion -- CPI.
So, when a layperson hears that "CPI is rising", it's not … (0 comments)
|
mortgage loans: WHY FHA FINANCING! - 07/22/08 02:41 AM
Thank heavens for FHA financing. Many of today's real estate professionals and consumers have never been exposed to FHA because of home prices in the San Diego market over the past several years. For many of us, FHA was an important part of the housing market in the past. All good … (0 comments)
|
mortgage loans: What's going on with Mortgage rates? - 07/21/08 07:13 PM
Mortgage rates soared last week as mortgage markets experienced a 4-day freefall.
By the end of the trading week, conforming mortgage rates had jumped by as much as 0.500 percent.
The spike in rates can't be pinned on any one factor, but 3 contributing factors include:
The lingering impact of … (1 comments)
|
mortgage loans: Why You Shouldn't Look to the Sunday Paper for Accurate Mortgage Rates (Part I) - 07/21/08 02:30 PM
My son and I took a trip to the local Walmart this past Sunday. I had to buy a few things for the house and he needed some new Pokemon cards (of course, needed means asked, begged and pleaded until I said yes). As we approached the checkout, I saw the … (0 comments)
|
mortgage loans: Five Year Increments by David Reed - 07/21/08 09:20 AM
Which is better, a 30-year or a 15-year fixed rate mortgage? A common and important question which, when answered, affects both the monthly payment and the amount of interest paid on a mortgage loan. While paying less interest over a shorter timeframe seems to be the obvious answer, the difference in … (7 comments)
|
mortgage loans: A client wants to know what's wrong with agents these days.., - 07/20/08 11:17 AM
I received a call from a person at one of my listings wanting to see it. I started in on the qualifying bit and he said he can pay cash! I then asked for his name and he gave it to me. I recognized the name from the week before when … (29 comments)
|
mortgage loans: Rate Window - the Future off Loan Shopping - 07/19/08 10:33 PM
On of the most puzzling , confusing and secretive little corners of the financial world is mortgage rates ; and how you can get the 'best' available rate for your personal credit and financial situation.
Mortgage brokers perform a very important function. However, when it comes to what rate you … (1 comments)
|
mortgage loans: Mandatory FHA Loan Fees Increase For Some, Fall For Others - 07/19/08 01:32 AM
For the first time in its history, the FHA changed its funding fees and mortgage insurance structure this week. FHA-insured home loans are now subject to a risk-based pricing adjustment, as shown by the table above.
Because of risk-based pricing, FHA home loans are now more expensive for borrowers with less-than-ideal credit … (1 comments)
|
mortgage loans: Mortgage Rates Spike On Highest Cost Of Living Index Since 1991 - 07/17/08 10:18 PM
Another day, another piece of inflationary data.
June's Consumer Price Index showed a 5 percent year-over-year increase in what is now the largest annual Cost of Living increase for Americans in 17 years.
This is bad news for both home buyers and homeowners in want of a new mortgage because rising … (0 comments)
|
mortgage loans: Featured Properties in Houston TX & Bentwater in Montgomery County - 07/17/08 03:01 PM
Hello,
I have an investor/builder who is wanting to unload some properties in Houston and Bentwater. I put together a video with information on the properties. Click on this link to see the video for these properties and if you have any questions please give me a call. This is something … (0 comments)
|
mortgage loans: Loan-Related Closing Costs - 07/17/08 12:39 AM
Loan Origination FeeThis covers the administrative expenses in setting-up and processing the loan. The loan origination fee may be a percentage of the mortgage amount.
Points (optional)An option for the home buyer is to pay points to lower the interest rate at which the loan will be repaid. Each point equals … (0 comments)
|
mortgage loans: How to Reduce Your Mortgage - 07/17/08 12:37 AM
One Additional Mortgage Payment a Year
There's a simple trick to significantly reduce the length of your mortgage and save you thousands of dollars. The trick is to make one extra mortgage payment a year and apply that payment toward your loan's principal.
This is the method being used by "Bi-Weekly … (1 comments)
|
mortgage loans: Government loan programs - 07/17/08 12:35 AM
FHA loans
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his … (0 comments)
|
mortgage loans: What does it cost to refinance? What are the benefits? - 07/17/08 12:29 AM
Ever heard the old rule of thumb, you should only refinance if your new interest rate is at least two points lower? That may have been true years ago, but with refinancing dropping in cost over the last few years, it's never the wrong time to think about a … (0 comments)
|
mortgage loans: Should you talk to a mortgage professional before house hunting? - 07/17/08 12:25 AM
Absolutely! Even if you haven't so much as picked out houses to visit yet, it's important to see your mortgage professional first. Why? What can we do for you if you haven't negotiated a price, and don't know how much you want to borrow?
When we pre-qualify you, we help … (0 comments)
|
mortgage loans: What is a VA Loan? - 07/17/08 12:24 AM
VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is … (0 comments)
|
mortgage loans: What are the advantages of fixed rate versus adjustable rate loans? - 07/17/08 12:22 AM
With a fixed-rate loan, your monthly payment of principal and interest never change for the life of your loan. Your property taxes may go up (we almost said down, too!), and so might your homeowner's insurance premium part of your monthly payment, but generally with a fixed-rate loan your … (0 comments)
|
mortgage loans: CO-SIGNORS OR JOINT VA LOANS - 07/17/08 12:20 AM
The VA guidelines recognize legally married spouses of qualified veterans as co-signors on VA loans and can include their income. These loans can be fully guaranteed by the VA.The VA guidelines will allow for more than one eligible veteran(s) to purchase a home. If more than one eligible veteran is involved, … (0 comments)
|
mortgage loans: 10 Cities That May Be Signaling That The Worst Of Housing May Already Be Over - 07/16/08 05:36 PM
Last week, Forbes Magazine published a Top 10 list that should grab the attention of housing market bottom-feeders.
The Top 10 list of Increasingly Affordable U.S. Housing Markets shows that falling home prices and steady mortgage rates are providing a support floor in some of the country's most beat-up regions.
The report's … (4 comments)
|
mortgage loans: FHA VA and You - 07/16/08 05:00 PM
It's tough to turn on the news these days without hearing about the negative news in our industry. Indymac, Countrywide, National City etc. One thing is certain, underwriting of loans is getting back to the basics.
Gone are the days (for now) of the Alt A, 100% financing and the number … (0 comments)
|
mortgage loans: “Not My Job” – How to Point the Finger, Pass the Buck, and Avoid Taking Responsibility. A Real Estate Industry Primer. - 07/16/08 12:17 AM
What would you say if you were shopping at your local home center, looking to purchase a certain type of light bulb. You ask the first clerk you see where the light bulbs could be located and he replies "Not my department. I work in Plumbing". Maybe you are at a … (31 comments)
|
mortgage loans: Fannie And Freddie Are Yesterday's News, Says The Market - 07/15/08 08:19 PM
Mortgage markets have turned their attention back to the U.S. economy this morning, causing yesterday's rate improvements to unwind a bit.
Rates had fallen Monday after the Federal Reserve and U.S. Treasury's joint announcement in support of Fannie Mae and Freddie Mac. Today, it's the data that is taking center stage.
… (1 comments)
|
mortgage loans: How Top Producers Earn Higher Commissions With Less Clients In a Bad Economy! - 07/14/08 10:41 AM
Many real estate agents, loan officers, and other real estate industry professionals are all experiencing the same thing. They are working much harder for a lot less money, and this is tremendously affecting their ability to plan for retirement. The reason is simple: Commoditization. If you sell anything in today's world … (0 comments)
|
mortgage loans: Happy In Havasu - Happy Real Estate News - 07/10/08 08:07 PM
Real estate sales are up in Lake Havasu City - This makes sellers very happy. Home sales have picked up in the last few months. In May, 124 homes closed escrow. This more than doubles those that closed in January 2008.
Real estate prices are down in Lake Havasu City - This … (0 comments)
|
mortgage loans: Home equity line of credit - 07/10/08 02:24 PM
If you need to borrow money to pay off debts or make a major purchase, a home equity line of credit (HELOC) can be useful. A HELOC is a form of revolving credit secured by the equity in your home. This is an open ended loan that can … (0 comments)
|
mortgage loans: VA LOAN CLOSING COSTS - 07/10/08 02:19 PM
The veteran can pay a maximum of all reasonable and customary amounts for any and all of the "Itemized Fees and Charges" designated by VA as defined below plus a 1% flat charge by the lender plus reasonable discount points. Some special provisions apply to construction, alteration, improvement and repair loans.
… (1 comments)
|
mortgage loans: Mortgage Servicing - 07/10/08 02:17 PM
Your monthly mortgage payments are handled by what is known as a mortgage servicer.The mortgage servicer is responsible for collecting your monthly payments and handling your escrow account.
Your escrow account is a special account held in your name to pay obligations such as property taxes, insurance premiums … (0 comments)
|
mortgage loans: Verifying Your Down Payment, Closing Costs, Assets, Income and Debts - 07/10/08 02:14 PM
A critical step in the mortgage loan application process is to verify the sources for your down payment, closing costs and assets, as well as documenting income and debts. The lender uses this step to determine your qualifications as a borrower.
Down Payment & Closing Costs
Documenting that the down payment … (0 comments)
|
mortgage loans: How Escrow works - 07/10/08 02:03 PM
EscrowTo finalize the sale of the home a neutral, third party (the escrow holder, a.k.a. escrow agent) is engaged to assure the transaction will close properly and on time. The escrow holder insures that all terms and conditions of the seller's and buyer's agreement are met prior to the sale being … (0 comments)
|
mortgage loans: Which refinancing option is best for you? - 07/10/08 01:59 PM
There aren't quite as many loan programs as there are borrowers, but it seems like it sometimes! We'll work with you to qualify you for the best loan program to fit your needs. But there are some general considerations you can have in mind in advance.
Are you refinancing primarily … (0 comments)
|
mortgage loans: How much can you afford? - 07/10/08 01:57 PM
Deciding how much house you can afford is a personal decision.Many factors come into play.How much can I borrow? How much can I put toward my down payment? What size monthly payment can I afford?
There are no black and white answers to these questions. Its a … (0 comments)
|
mortgage loans: The "Sheep Effect" On Your Housing Payment - 07/10/08 12:02 AM
A noon-hour, mortgage-bond rally rendered homes more affordable for Americans Tuesday. It was the second straight day on which this happened.
On both days, the action was swift.
The speed at which Monday's and Tuesday's respective rallies tore through mortgage markets illustrates how deep the uncertainty that surrounds the U.S. economy … (1 comments)
|
mortgage loans: MORTGAGE APPLICATIONS RISE - 07/09/08 11:07 PM
Mortgage Applications Rise
Applications for U.S. home mortgages rose to their highest level since early June last week after an adjustment made for the Independence Day holiday, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity increased 7.5 … (3 comments)
|
mortgage loans: Who is ready to make some money!!!! - 07/09/08 02:44 PM
If you need a loan officer that is going to answer his phone or even when you send me an email I will be able to answer the questions that you may have. if there are clients out there that are not so perfect credit please still call me an we … (0 comments)
|
mortgage loans: Scoring your Credit - How's your FICO? - 07/08/08 08:58 PM
In today's increasingly automated society, it should come as no surprise that when you apply for a mortgage, your ability to pay can be reduced to a single number. All the years you've been paying your mortgage, car payments, and credit card bills can be analyzed, sliced, diced, spindled and mutilated … (0 comments)
|
mortgage loans: THE LAW ON VA OCCUPANCY - 07/08/08 08:54 PM
The law requires a veteran obtaining a VA guaranteed loan to certify that he or she intends to personally occupy the property as his or her home. As of the date of certification, the veteran must either (1) personally live in the property as his or her home, or (2) intend, … (0 comments)
|
mortgage loans: Why July May Be The Best Time To Write A Purchase Contract In 2008 - 07/08/08 05:00 PM
It's a terrific time to buy a home, but not because homes happen to be affordable.
It's a terrific time to buy because the variety of mortgage products available to home buyers looks poised to shrink.
Monday, Alt-A mortgage lender IndyMac Bank stopped accepting mortgage applications and it's likely that other Alt-A … (2 comments)
|
mortgage loans: Finding a Mortgage Loan: Which Road Leads to the Best Choice? - 07/08/08 12:10 AM
Potential borrowers often wonder where they should go when shopping for a mortgage. If they are buying a home should they go with their Realtor's mortgage person? Should they visit their local bank? Call one of those large national mortgage companies who advertise on TV? What about a mortgage broker? … (0 comments)
|
mortgage loans: What's up with interest rates this week? - 07/07/08 11:50 PM
Last week was fairly uneventful in the mortgage markets, with rates slightly edging lower across the board and without much data to influence trading.
Even Thursday morning's hotly-anticipated jobs report was met with lukewarm interest; many traders had already left for the weekend.
Mortgage rates just drifted -- a little up and … (2 comments)
|
mortgage loans: Subprime Mortgage Meltdown Leaves Borrowers Facing Crisis - 07/07/08 11:08 PM
Subprime Mortgage Meltdown Leaves Borrowers Facing Crisis
With credit requirements tightening, borrowers have fewer choices in mortgage loans
Sacramento, CA, July 7, 2008-As record numbers of foreclosures pervade the subprime market, lenders are becoming more and more anxious, and as a result, they're tightening their mortgage loan guidelines. These more … (0 comments)
|
mortgage loans: Subprime Mortgage Meltdown Leaves Borrowers Facing Crisis - 07/07/08 11:04 PM
Subprime Mortgage Meltdown Leaves Borrowers Facing Crisis
With credit requirements tightening, borrowers have fewer choices in mortgage loans
Sacramento, CA, July 7, 2008-As record numbers of foreclosures pervade the subprime market, lenders are becoming more and more anxious, and as a result, they're tightening their mortgage loan guidelines. These more … (1 comments)
|
mortgage loans: You should get pre approved before you shop! - 07/07/08 01:29 PM
Get Pre-Approved Before you find your perfect home!
Before you begin looking for a new home, it's a good idea to determine what you can afford.
If you have not yet determined your housing budget, I am available to provide assistance helping you arrange financing. Determining your purchasing power now will … (0 comments)
|
mortgage loans: Avoiding Foreclosure Helping Clients Keep Their Homes - 07/06/08 05:22 PM
Few things are as devastating as losing your home. Sadly, it's not always inevitable. In many cases the foreclosure could've been avoided with some outside help.
You are in a unique position to advise your clients in financial matters. If you know that a client is on the path toward foreclosure, … (1 comments)
|
mortgage loans: Happy 4th of July! - 07/04/08 03:20 PM
Freedom is essential to the American way of life. Today we celebrate those who dared to declare our independence and ensure our right to pursue happiness and the American dream. I wish you a happy and safe Independence Day!
… (3 comments)
|
mortgage loans: How Job Losses In The Economy Are Helping Home Affordability! - 07/04/08 02:59 PM
On the first Friday of each month, the Bureau of Labor Statistics releases its Non-Farm Payrolls report.
More commonly, it's called the "jobs report".
The jobs report is a sector-by-sector look into the U.S. economy and whether businesses are hiring -- or firing -- workers. This is one of the reasons why … (1 comments)
|
mortgage loans: Holding Your Property in a Living Trust - 07/03/08 06:02 PM
Created while you are alive, a revocable living trust lets you control the distribution of your estate. Ownership of your property and assets is transferred into the trust. You can serve as trustee or you can appoint another to serve as trustee. If you serve as trustee, you must appoint a … (0 comments)
|
mortgage loans: Deductible Homeowners Expenses - 07/03/08 06:00 PM
One of the advantages of owning your own home is that the home mortgage interest and real estate taxes paid can be deducted from your federal income tax*. To do so, youll need to comply with current tax laws and complete the appropriate federal tax forms and itemized deduction schedules.
… (0 comments)
|
mortgage loans: Should you pay off your mortgage early? - 07/03/08 05:59 PM
Even with today’s low interest rates, the total amount of interest you may pay over the life of your mortgage can seem like a staggering amount. It's one of the reasons many people set a goal to pay down their mortgages early. But pre-paying a mortgage may not be for everyone. … (0 comments)
|
mortgage loans: VA Certificate of Eligibility - 07/03/08 05:57 PM
were discharged for a service-connected disability, or
were discharged for the convenience of the government after completing at least 20 months of a 2-year enlistment, or
completed not less than 90 days (any part during wartime) or 181 continuous days (peacetime), and
were discharged because of a hardship, or … (0 comments)
|
mortgage loans: Five ways to make the loan process go faster - 07/02/08 10:35 PM
We should say that "working with us" is the first way! When you let us help you find the loan that's right for you, you truly are taking advantage of some of the area's best technology and expertise to get you a loan decision and funding on your loan quickly. … (0 comments)
|
mortgage loans: Are Sub-Prime Mortgage Problems Finally On Their Way Out? - 07/02/08 01:57 PM
<!-- POST 2142-->
In the summer of 2005, sub-prime mortgage lending was at its peak. Rates were relatively low and lending guidelines were relatively loose.
At the time, the "standard" sub-prime mortgage product was the 3/27 ARM.
The 3/27 had a few basic traits:
A fixed, 3-year "starter rate"
Every … (1 comments)
|
mortgage loans: Why Mortgage Rates Could Fall Because Of Midwestern Farmers - 07/01/08 07:59 PM
As flood waters ran through Iowa and other Midwestern states, the nation's corn supply was thought to be in danger.
Prices spiked in the wake of the floods, adding to the already-peaking grocery bills that many Americans are now bearing.
But yesterday, in a surprise report, the Agriculture Department said that … (2 comments)
|
mortgage loans: The "New FHA Mortgage Loan" Could Be Right For You - 07/01/08 06:10 PM
The FHA in "FHA Mortgage loans" stands for "Federal Housing Administration."The Federal Housing Administration is a government entity that insures mortgage loans that lenders fund (as long as they fall within the FHA guidelines). In other words the FHA is basically an insurance company, owned by the government, and insures lenders/banks … (0 comments)
|
mortgage loans: Where are Interest Rates Heading? - 06/30/08 09:00 PM
Mortgage rates improved last week, marking the first time since mid-May that has happened.
The rate drop is the result of how mortgage markets interpreted the Federal Reserve's Wednesday press release.
In it, the Fed said:
Inflation pressures should lessen soon
Growth should remain steady this year
The credit market is … (3 comments)
|
mortgage loans: "Now is the perfect time eliminate costly monthly expenses" - 06/30/08 06:55 PM
My name is Desiree Reyes and I represent The Funding Group, an outsource mortgage loan processing service. I offer my experience and services to Brokers and Loan officers who are looking to avoid and eliminate the hassles of hiring and training an "In House Processor."
Reasons to utilize outsourced loan processing:
ELIMINATE
Office Overhead … (0 comments)
|
mortgage loans: What To Do When Your HELOC Is Reduced By The Bank - 06/27/08 04:30 PM
A Home Equity Line of Credit is bank product that grants homeowners access to the equity in their home at anytime, usually using checks.
Often called a HELOC, these equity-based credit lines function very much like credit cards:
The rate is adjustable, tied to Prime Rate
There is a minimum monthly payment … (3 comments)
|
mortgage loans: Down Payment Assistance Programs - 06/27/08 02:20 PM
What are DPAs?How do they work?Who is eligible for a DPA?Why use a DPA?These are a few of the questions asked about the down payment assistance (DPA) programs that I get on a regular basis.
What is a DPA? A down payment assistance program is one where a homebuyer can receive … (0 comments)
|
mortgage loans: Mortgage Shopping - 06/27/08 12:16 PM
HERE'S THE INSIDE SCOOP ON HOW TO DO IT RIGHT!First: make sure you are working with an experienced, professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues … (0 comments)
|
mortgage loans: About to Experience Foreclosure? 4 Reasons Why You Should Consider a Short Sale - 06/26/08 02:34 AM
About to Experience Foreclosure? 4 Reasons Why You Should Consider a Short Sale
In many communities across the country foreclosures continue to be filed against homeowners at a record pace. The bottom line is that if you are facing the specter of foreclosure yourself, you are not alone. Moreover, if you … (1 comments)
|
mortgage loans: Making English Out Of Fed-Speak (June 2008 Edition) - 06/25/08 03:30 PM
The Federal Open Market Committee left the Fed Funds Rate unchanged at 2.000 percent this afternoon, as expected.
In its press release, the Federal Reserve noted the co-existence of inflation and recession.
On inflation, the Fed said that energy and food prices are contributing to an "elevated state" … (1 comments)
|
mortgage loans: Simple Real Estate Definitions: PITI - 06/24/08 11:15 AM
Most homeowners make four housing-related payments each month:
Principal on a mortgage
Interest on a mortgage
Taxes on the real estate owned
Insurance for the real estate owned
Collectively, these payments are known by the acronym PITI but don't let it fool you -- a homeowner's monthly expenses are still called PITI … (3 comments)
|
mortgage loans: Looking Back And Looking Ahead : June 23, 2008 - 06/23/08 08:20 PM
Mortgage rates edged higher for the fifth straight week and the benchmark 30-year fixed-rate mortgage is now at a 10-month high.
One reason why rates are spiking is because the temporary jolt from higher energy and food costs is starting to look like a longer-term trend.
For example, high energy prices get a … (2 comments)
|
mortgage loans: The Midwest Flooding And Its Impact On Your Mortgage Loan - 06/20/08 06:52 PM
Flooding in the Midwest has displaced thousands of families and caused billions of dollars in damages.
It may also cause mortgage rates to rise.
As the extent of the damage becomes more clear, prices for grain and livestock are soaring. For example, a host of dietary staples are suddenly more expensive … (1 comments)
|
mortgage loans: What You Need To Know About Mortgage Loan Rate Quotes - 06/19/08 02:23 PM
Home buyers are often surprised when a "rate quote" from the morning won't be honored in the afternoon. Sometimes, the assumption is that the loan officer is just being sneaky.
This couldn't be less true.
Rate quotes change in the middle of the day because mortgage markets are in constant flux. All … (1 comments)
|
mortgage loans: Why Home Values May Rise When Home Building Falls To A 17-Year Low! - 06/18/08 02:14 PM
A "Housing Start" is a new home on which construction has commenced and in May, Housing Starts fell to a 17-year low nationally.
At first glance, this may seem like a negative for the already-battered U.S. housing market.
It's not.
Falling Housing Starts reflects the broader real estate market … (0 comments)
|
mortgage loans: If That Home Is A "Good Buy", Make Your Offer Quickly - 06/17/08 02:05 PM
Each month, University of Michigan researcher survey the U.S. population about their thoughts on the economy -- is it improving, it is worsening, is it staying the same.
May's consumer confidence survey registered it's lowest reading since 1980.
Given the recent headlines, that shouldn't be surprising:
Unemployment is spiking
Gas prices … (3 comments)
|
mortgage loans: FHA OFFERS PAYMENT GRANTS - 06/17/08 01:50 PM
FHA Cash Down Payment Grants Available for First Time Home Buyers
There are still down payment assistance programs that offer affordable housing opportunities for first-time homebuyers, low-income and moderate-income individuals and families who wish to achieve homeownership. Ameridream is the most popular plan through FHA. Please contact me for details.
… (0 comments)
|
mortgage loans: Looking Back And Looking Ahead : June 16, 2008 - 06/16/08 03:38 PM
Mortgage rates moved higher last week on lingering concerns about inflation, the fourth straight week in which rates rose.
Mortgage rates are now as high as they've been since October 2007.
Because inflation devalues mortgage bonds, market players are quick to unload them when signs of inflation are present.
Last week, there were … (0 comments)
|
mortgage loans: Guess Which 4 States Accounted For More Than 50 Percent Of May 2008 Foreclosures - 06/13/08 03:39 PM
RealtyTrac released its most recent foreclosure statistics and if you only read the headlines, you think the entire country was on the verge of losing its homes.
The underlying data tells a different story, however.
More than half of the country's foreclosure activity in May 2008 was tied to just 4 states in … (1 comments)
|
mortgage loans: Cancel Your PMI Before It's Too Late To Cancel It - 06/12/08 10:12 PM
When homeowners borrow more than 80 percent of a home's value, mortgage lenders often require a corresponding insurance policy called Private Mortgage Insurance.
PMI provides a cash payment to lenders in the event of a homeowner defaults.
But because PMI policies are designed for high LTV loans only, they usually contain cancellation options for … (2 comments)
|
mortgage loans: Is The Federal Reserve Telegraphing Its Next Rate Hike? - 06/11/08 12:57 PM
The Federal Reserve is stumping hard on inflation this week, creating speculation that Fed Funds Rate hikes may be in store for later this month.
This is a counter-intuitive development because increases to the Fed Funds Rate are typically associated with periods of rapid economic expansion.
Lately, we've seen anything … (4 comments)
|
mortgage loans: Why Your "Dear Seller" Letter May Be Met With A "Dear John" - 06/10/08 07:18 PM
Several years ago, when homes sometimes sold within hours, prospective buyers often drafted "Dear Seller" letters, an accompanying personal note to help purchase offers stand out in a multiple-bid situation.
Today, some buyers are writing a different kind of letter to win a seller's favor -- a letter explaining why the … (2 comments)
|
mortgage loans: WE TEACH YOU TO REPAIR YOUR OWN CREDIT- CREDIT REPORT REPAIR - 06/10/08 06:15 PM
… (0 comments)
|
mortgage loans: There was no rest for the mortgage loan rates weary last week. - 06/10/08 02:14 AM
As mortgage bonds sold off early in the week, sharp rate hikes followed. A steady stream of better-than-expected economic reports had re-ignited inflation fears, drawing money from the bond market.
On Friday, however, the money flow reversed on a triple threat to the U.S. economy:
The Unemployment Rate took its biggest … (2 comments)
|
mortgage loans: Why It's Good News For Home Buyers When Unemployment Rates Surge - 06/06/08 11:29 AM
On the first Friday of every month, the Bureau of Labor Statistics releases its Non-Farm Payrolls report.
More commonly called the "jobs report", today's 2-page analysis of May 2008 shows that the economy shed jobs and that unemployment surged.
This is terrific news for home affordability.
That may sound counter-intuitive, so let's dig … (0 comments)
|
mortgage loans: Behind in your mortgage payments? Upside down in your mortgage? DOnt turn your home over to the bank just yet! - 06/05/08 03:37 PM
There are solutions. CALL ME FOR A FREE CONSULTATION
IM A LOAN OFFICER, REALTOR AND LOAN MODIFCATION GOD. Please dont sign your home over to someone that says they are trying to help you & want to offer to LEASE THE HOME BACK TO YOU! ITS a scam! IM in San … (0 comments)
|
mortgage loans: What Happens When Bernanke Says "Inflation" 55 Times In 5 Pages Of Text - 06/05/08 01:53 PM
Mortgage rates are a big deal when you're buying a home.
With even the slighest uptick in rates, 30 years of mortgage payments can get substantially more expensive and one of the most substantial threats to mortgage rates is an economic event called inflation.
Inflation's influence on mortgage rates is … (7 comments)
|
mortgage loans: The Proper Way To Give And Receive Gifts For Downpayments - 06/04/08 02:01 PM
When a home buyer is gifted cash for a downpayment, there is a right way and a wrong way to receive the funds.
The right way includes:
Completing an acceptable gift letter
Documenting the withdrawal of funds with receipts
Documenting the deposit of funds with receipts
The wrong way is to ignore … (1 comments)
|
mortgage loans: Baton Rouge Market Gains!!! - 06/02/08 09:51 PM
The greater Baton Rouge, Louisiana market posted a 3% gain for the first quarter of 2008!! This news may be suprising to some, but to many Realtors working in this market, it was business as normal. Baton Rouge has historically seen a steady growth, nothing off the charts except for the … (1 comments)
|
mortgage loans: Looking Back And Looking Ahead : June 2, 2008 - 06/02/08 05:04 PM
Mortgage rates rocketed higher last week, stunning active home buyers and mortgage rate shoppers.
Some conforming mortgage rates rose by as much as three-quarters of a percent before Friday's closing.
Even in a year in which mortgage rates have been extremely volatile, last week's spike was a large one.
The … (1 comments)
|
mortgage loans: The Impact Of Falling Oil Prices On Mortgage Rates - 06/01/08 10:41 PM
Falling oil prices is one reason why mortgage rates are dropping for the first time in 6 days.
Oil is off $9 per barrel from last week, a shift that correlates to $0.23 per gallon of unleaded gas, roughly.
This drop is good news for both home buyers and … (5 comments)
|
mortgage loans: Why It Will Be Easier To Get A Mortgage Approval Today Than Monday - 05/29/08 01:22 PM
Mortgage financier Fannie Mae is toughening its mortgage application decision-making process effective Monday, June 2, 2008.
The new guidelines will force many Americans to face higher mortgage rates, higher loan fees, or to be shut out from "prime" mortgage rates altogether.
The new "mortgage rules" include the following changes:
Higher income … (3 comments)
|
mortgage loans: Realtors & Mortgage Dont give up on your bad credit clients- 40-90 Days - 05/28/08 07:51 PM
… (0 comments)
|
mortgage loans: 18 of 20 Real Estate Markets Show Signs Of Improvement - 05/28/08 03:12 PM
The monthly S&P/Case-Shiller Housing Price Index is a popular and often-quoted measurement of the housing market's health. The chart above is sourced from its report published yesterday.
In 18 of the 20 largest metropolitan areas, home values declined at a slower pace than in the previously measured month. The report also … (4 comments)
|
mortgage loans: Want to learn to repair your own credit? Fix your credit yourself - 05/27/08 01:16 PM
We will teach you to repair your own credit.
step by step how to repair your own credit,
$150 for full consultation
( Get your credit reports)
& lets get started today
www.annualcreditreport.com
… (2 comments)
|
mortgage loans: Looking Back And Looking Ahead : May 27, 2008 - 05/27/08 12:50 PM
The market optimism that had pushed mortgage rates lower since late-March reversed last week on ever-rising oil prices and a bleak outlook from the Federal Reserve.
When gas prices reached $3.93 Friday, it re-ignited inflation concerns and inflation, you'll remember, is the enemy of mortgage rates.
As expected, mortgage rates spiked … (3 comments)
|
mortgage loans: Reverse Mortgages at a record level - 05/24/08 05:26 PM
… (9 comments)
|
mortgage loans: Congresswoman Staves Off Foreclosure with a Loan Modification - 05/22/08 03:42 PM
The Foreclosure crises hits home - Congresswoman Laura Richardson's home - (see article below)
Help is on its way. Previous Blog articles When the proposed Bill is signed into law, it will be for a limited time. There will be much preliminary work that will be required completed before loan reduction … (1 comments)
|
mortgage loans: How We Know That Prime Rate Will Likely Rise Before It Falls - 05/22/08 11:01 AM
Three weeks after adjourning, Federal Reserve officials release detailed minutes of their most recent meeting.
The April 30, 2008 minutes were released Wednesday and it affirmed traders' beliefs that the Federal Reserve will not be in a hurry to lower the Fed Funds Rate again.
This is bad news for two … (2 comments)
|
mortgage loans: Fall out from Predatory Appraisals - 05/22/08 08:45 AM
55% of appraisers say they have been uncomfortably pressured to overstate property value
99% of appraisers believe that other appraisers sometimes go along with these requests.- 2003 Appraisal Intelligence: National Appraisal Survey produced by October Research Corporation
Current Impact of Predatory Appraisals
These statistics clearly demonstrate the reality of predatory … (0 comments)
|
mortgage loans: www.southernlendingcorp.com - 05/21/08 09:59 PM
… (1 comments)
|
mortgage loans: Simple Real Estate Definitions : Loan-to-Value - 05/21/08 02:06 PM
Loan-to-value is a math formula that represents the relationship between how much a home is "worth" and how much money is borrowed against it.
Loan-to-value is often abbreviated as "LTV" and is one of the many factors that lenders consider when underwriting a mortgage application.
The math formula is straightforward:
… (2 comments)
|
mortgage loans: Did You Ask: "Has There Been A Mortgage Rate Reprice In The Last Hour?" - 05/20/08 02:53 PM
Yesterday, several mortgage lenders issued three separate "rate sheets" in response to the changing mortgage market.
It was the fourth time in the last 6 trading days that mortgage lenders issued multiple rate sheets in a day, and continued the trend that started in mid-January.
The yo-yo nature of mortgage rates … (6 comments)
|
mortgage loans: Where are rates heading? May 19, 2008 - 05/19/08 02:49 PM
Optimism ruled the markets last week -- optimism about employment, optimism about housing, and optimism about inflation.
Mortgage rates edged lower overall.
Despite the positive sentiment from Wall Street, consumer confidence in the economy reached a 28-year low.
This is a normal divergence because investors live in the "future" of markets while … (3 comments)
|
mortgage loans: Smart Money Magazine Says Renters Have Lame Excuses - 05/16/08 07:33 PM
It's not often that a mainstream media publication taunts renters into buying homes, but that's exactly what Smart Money does in its latest issue.
The Smart Money Web site "lead-in" reads 5 (Lame) Excuses for Not Buying a Home. That's a forceful title!
It's unfortunate that renters could feel antagonized … (2 comments)
|
mortgage loans: Would you like to repair your own credit? We can teach you- Credit Doctor - 05/16/08 04:55 PM
… (2 comments)
|
