mortgage: Why PITI Has Soared For Home Buyers - 02/26/24 05:50 AM
Mortgage PITI (P.I.T.I.) stands for Principal, Interest, Taxes, and Insurance, and we dissect them to discover why mortgage payments are soaring. Most "mortgage payment" analysis focuses on P&I, but today we include the impact of taxes and insurance to home mortgage payments.
PITI Analysis Please remember to "like" the post and the video on YouTube too! Thank you.
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mortgage: This Is When Mortgage Rates Will Return To Normal - 08/28/23 07:17 AM
The term "return to normal mortgage rates" is frequently cited by both home sellers and buyers as a factor in their decision-making.
However, 'normal' is a shifting concept influenced by historical trends and current conditions. Join us to explore the evolving history of mortgage interest rates, offering insights into likely future trends.
This Is When Mortgage Rates Will Return To Normal Please remember to "like" the post and the video on YouTube too! Thank you.
 
🏡  Link to all homes for sale in Tallahassee
📺 Subscribe To The Joe Manausa Real Estate Channel and Get More Housing Market Reports, Listings, and Real Estate Marketing Tips, … (6 comments)

mortgage: Are NINJA Loans Jeopardizing The Housing Market Again? - 09/27/22 07:20 AM
If you remember back to the housing bubble, we saw the growth of "NINJA" loans, as they were a segment of the home sales explosion. 
NINJA is an acronym for "No Income, No Job, and no Assets," which meant that lenders were making loans to people who were not required to prove that they could repay the loans.
Crash Due To NINJA Loans (AGAIN)?< Please remember to "like" the post and the video on YouTube too! Thank you.
 
🏡  Link to all homes for sale in Tallahassee
📺 Subscribe To The Joe Manausa Real Estate Channel and Get More Housing Market Reports, Listings, and Real Estate Marketing Tips, … (5 comments)

mortgage: 10 Mistakes Homebuyers Make In The Home Mortgage Process - 02/28/20 10:53 AM
If you are getting ready to buy a home and you are financing your purchase, I am going to cover a list of ten things you are going to want to avoid until after you have closed on your home.
The home mortgage process is very structured, loaded with rules and guidelines that you must follow in order to be approved. Remember, a bank is going to lend you hundreds of thousands of dollars, so it's not too shocking that they want you to follow the path they have defined.
Some of these tips are ones you might have heard about, while others … (49 comments)

mortgage: Follow The Advice Of "Deep Throat" In Real Estate - 03/14/15 05:19 AM
Follow the money. Always follow the money.
That's what we learned from Hal Holbrook playing "Deep Throat," the anonymous source quoted by Bob Woodward and Carl Bernstein in their book ''All the President's Men.''
For our younger readers, "Deep Throat" was a Nixon Administration official in the 1970s whose identity was never revealed. His tips led to the discovery of money laundered in Mexico and eventually paid to burglars for the benefit of the Nixon White House campaign.
But we can "follow the money" in real estate as well, as it often reveal trends that are not so obvious in simple housing reports.
How Buyers Are Paying For Houses … (2 comments)

mortgage: Featured Article Follow-Up: You asked for the update on John Smith - 09/09/13 11:20 PM
I started a case study on the credit repair industry (whether any of it works, or if it is just a scam) several months ago, and the initial article was Featured on ActiveRain (you can see it here).
Many people asked me to provide a follow-up article so they could see how the case progressed. So here is our "John Smith" update, five months after he pulled a credit report with a middle score of 568. As you will see, John Smith is ready to buy a home today.
The topic of how to repair your credit is becoming one that real … (2 comments)

mortgage: Some Seriously Good News From FHA (Spread The Word!) - 02/10/12 02:36 AM
Changes have been made by the Federal Housing Administration (FHA) that are going to have an immediately wonderful impact on people who want to do a Tallahassee FHA streamline refinance.
You see, the FHA has found itself in a bad position, and perhaps it feels that best way to protect itself is to to do a little more of "what got us here in the first place."
So what the heck is this all about and who could need or want a Tallahassee FHA streamline refinance?
Defining Tallahassee FHA Streamline Refinance A Tallahassee FHA streamline refinance is simply a way for … (6 comments)

mortgage: Is Paying Cash For Real Estate Purchases A Growing Trend? - 12/23/11 02:08 AM
With all the problems that we read about obtaining financing for real estate these days, it has raised some discussion about just paying cash for real estate. Tallahassee has never been a town filled with people with a lot of excess cash, so I really don't see a new trend towards cash buyers starting any time soon.
Of course, if home prices continue to fall as we expect, there will be more cash-laden investors who come to claim real estate investments in Tallahassee.
Yesterday, I received some feedback and conversation about the article on Foreclosures that I wrote from Sarasota real … (12 comments)

mortgage: Using The USDA Rural Development Loan - 11/15/11 02:03 AM
Are you somebody who has decent credit but very little cash, and you want to buy a home in Tallahassee? In the old days, there were many ways to solve this problem. During the housing boom, you would have plenty of options when it came to financing a home, but today, no money down programs are few and far between, so the cash-strapped homebuyer needs to explore all the options.
Recently, Robert Barnette of Hancock Bank, came and met with our office to discuss different loan programs and trends in the mortgage industry in Tallahassee. He addressed buying homes that need … (2 comments)

mortgage: Mortgage Assignment Sales: Don't Believe The Hype - 09/01/11 12:49 AM
I was reading a blog post this morning from another real estate agent who was seeking input about a creative solution for homebuyers with bad credit that involves the assumption of existing loans. This technique is commonly called a mortgage assignment sale and it simply involves the seller granting the deed of the property to the buyer subject to the existing liens on the property.
The topic of mortgage assignments is very hot among real estate investors, with many claiming the mortgage assignment sale as a great way to acquire a lot of property with very little money. If the seller … (4 comments)

mortgage: Foreclosures Drop By 48% - Recovery In Site? - 03/10/11 01:02 AM
Yesterday's report of plummeting foreclosures in Tallahassee has raised some interesting discussion from real estate professionals around the internet. I'm not sure if you caught the recent Tallahassee Foreclosure Report, but yesterday it reported
New lis pendens filings in Tallahassee dropped 48% in February when compared to February 2010, and foreclosures fell 18%.
So not only were new foreclosure filings in February about 1/2 of what they were last year, but foreclosure sales dropped dramatically as well. So what does this mean?
Foreclosure Trends In Tallahassee Falling There is a "Foreclosures" tab in the navigation bar at the Tallahassee Real Estate … (4 comments)

mortgage: Is Big Government Leaving The Mortgage Market? - 01/30/11 11:35 PM
We have been tracking the real estate market on a daily basis and reporting the rise and fall of the recovery due to the Federal Government getting involved in the mortgage market and real estate market. Our readers have tendered several questions on this subject, and recently “Harry” asked the following question:
Hi Joe – I was not a fan of the government stepping in and trying to save the mortgages of people that overextended themselves. I felt that doing that simply delayed the inevitable failures – it added more national debt – and it prevented the housing prices from  bottoming … (4 comments)

mortgage: Are REALTORS Just Crying Wolf? - 06/02/10 01:28 AM

A favorite one of Aesop’s many fables is about a boy who cried wolf one too many times. I think this fable is well suited to teach those of us in real estate a very important lesson about how we report information and what we advise people to do. Aesop wrote:
A shepherd-boy, who watched a flock of sheep near a village, brought out the villagers three or four times by crying out, “Wolf! Wolf!” and when his neighbors came to help him, laughed at them for their pains. The Wolf, however, did truly come at last. The Shepherd-boy, now … (12 comments)

mortgage: Mortgage Lenders Deal With Bad Loans - 03/28/10 10:06 PM
Tallahassee mortgage lenders are now dealing with the bevy of loans in default. For those readers who do not follow our updates on Tallahassee Foreclosures, we have been observing the rising foreclosure rate in Tallahassee for quite some time. Currently, 25% of the lis pendens that are filed result in a foreclosure sale, but this trend is rising.
In an effort to get a feel for which Tallahassee mortgage lender has the most loans in default, I looked at all the lis pendens filed from January 2008 through mid-March 2009. The following real estate graph shows where our distressed loans reside.
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mortgage: Don't Let HUD's New Rule Destroy Our Momentum - 02/17/10 09:18 PM
The Secure and Fair Enforcement Mortgage Licensing Act is about to have a huge negative impact on the value of your home, and I bet you have never even heard of it! That’s right, the U.S. Department of Housing and Urban Development has put together a proposed rule, that if adopted, is going to cause significant damage to an already crippled housing market, but there is time for you to change it!
The new rule has been proposed in the enforcement of the Secure and Fair Enforcement Mortgage Licensing Act. The SAFE Act is actually a good thing, and was passed … (6 comments)

mortgage: Why Real Estate Finance Is Your Business - 01/12/10 11:41 PM

Anybody who has been in or near the real estate market over the past ten years can attest to the fact that the money markets have been crazy. Crazy good for most of the time, but now we’re well into a cycle where money supply will be tight, and lending standards will be much tougher.
People relatively new to the real estate industry will see this as new and different, while those of us who have been around a while will tell you that we are just dusting off old skills and techniques that we haven’t had to use since … (2 comments)

mortgage: Frustrated Homeowners Seek Alternative Solutions - 10/25/09 10:43 PM
 

Many home owners are stuck with a home that they cannot (or will not) sell in today’s market of falling home prices. They are looking for creative solutions and we have written many articles in the past about creative solutions to today’s real estate problems.
Today’s home selling solution is a bit “out there” because it won’t be for everybody and it is restricted to people who have a fairly healthy stock portfolio. But even if these constraints don’t fit your problem, this will still be a healthy read because the same creative process might help you find a … (6 comments)

mortgage: How To Decide Whether Or Not To Pay For Mortgage Discount Points - 08/24/09 11:18 PM
 
When it comes to comparing interest rates for a mortgage loan, home buyers often have the option of choosing a loan with a lower interest rate by paying discount points.
Simply put, discount points are fees charged by the lender to reduce (discount) the interest rate charged to the borrower. A point is equal to 1 percent of the loan amount. For example, with a $200,000 loan, one point equals $2,000. Points are usually paid out-of-pocket by the buyer at closing.
Paying points may seem attractive, because a lower interest rate means smaller monthly payments. But is paying points always … (2 comments)

mortgage: Rising Mortgage Interest Rates Affect Home Affordability - 06/10/09 11:35 PM
Yesterday’s blog article pondered whether somebody should buy a home today at possibly a higher price, yet almost certainly lower interest rates, in order to take advantage of the $8,000 First Time Homebuyer Tax Credit instead of waiting for prices to bottom. This created some discussion in the comments and email section of the Tallahassee Real Estate Blog, and made me wonder if their might be another way to consider the impact of rising mortgage interest rates in the purchase of a new home.
So I decided to make a few graphs that demonstrate the impact changing interest rates have on … (0 comments)

mortgage: Foreclosure Rescue Fraud Is Top Complaint - 05/08/09 02:47 AM
 
With all the problems in the real estate and mortgage industries, many new scams seem to be traveling around the internet, as well as through direct mail and telemarketing. The one that has raised the awareness of the State of Florida concerns organizations that promote themselves as mortgage rescue specialists. While many of these law firms and mortgage companies are reputable, there are a great number of them in which you should be wary.
A valuable tool for Florida homeowners was recently developed by Florida Attorney General Bill McCollum.  His new website, http://myfloridalegal.com/mortgagefraud, provides consumers with easy access to current … (0 comments)

 
Joe Manausa - Tallahassee, FL, Tallahassee Real Estate (Joe Manausa Real Estate)

Joe Manausa - Tallahassee, FL

Tallahassee Real Estate

Tallahassee, FL

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Joe Manausa Real Estate

Address: 2066 Thomasville Road, Tallahassee, FL, 32308

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