"Cash is King" and it's a buyer's market. I have clients with high yield, short-term (2-6 month) projects that are looking for financial partners. If you have cash to invest (or if we can raise $$ with a heloc on your property) this may be a smart high-yield, mortgage-secured, short-term option. Contact me if interested. Make it a good week folks! - Paul
Treasury weighs new mortgage subsidies: sources
Fannie Mae and Freddie Mac, the mortgage finance companies, would administer the new program to resolve problems with second-liens. Read more. (For loan mod info and help go here - P)
Investment opportunities
1. $50K 1st, 25% LTV, 6 month term, 12% rate + profit share.
1. $50K 1st, 25% LTV, 6 month term, 12% rate + profit share.
2. $70K 2nd 60% LTV, 12 month term, 12% rate + profit share.
Cities where home prices could fall more
High unemployment and low spending power could lead to further price drops in these 10 cities, according to Forbes. Read more
High unemployment and low spending power could lead to further price drops in these 10 cities, according to Forbes. Read more
ARM rates relatively high
For the week ending April 23rd the 30-year fixed averaged 4.80% with an average 0.7% fee, down from last week when it averaged 4.82%. This time last year it averaged 6.03%. Freddie Mac rate surveys. "Although long-term rates eased slightly this week, ARM rates remain elevated relative to fixed-rate loans" said Frank Nothaft, Freddie Mac vice president and chief economist. "For instance, rates for 1-year ARMs exceeded those for 30-yr fixed over the last 2 weeks; this is the first time this has happened since Freddie Mac began collecting data for ARMs in Jan 1984.
For the week ending April 23rd the 30-year fixed averaged 4.80% with an average 0.7% fee, down from last week when it averaged 4.82%. This time last year it averaged 6.03%. Freddie Mac rate surveys. "Although long-term rates eased slightly this week, ARM rates remain elevated relative to fixed-rate loans" said Frank Nothaft, Freddie Mac vice president and chief economist. "For instance, rates for 1-year ARMs exceeded those for 30-yr fixed over the last 2 weeks; this is the first time this has happened since Freddie Mac began collecting data for ARMs in Jan 1984.
New rules for appraisals
The housing industry is facing new national rules for real estate appraisals, which bans mortgage brokers from ordering valuations and diverts more business to third-party appraisal management companies.
Social networking wins real estate fans
Social networking sites including Twitter, Facebook, LinkedIn, and ActiveRain are the medium for real estate professionals get the word out. Read more
Contact me for further information or assistance.
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