burlingame: How Credit Scores Impact Your Chance To Secure A Mortgage - 10/09/15 07:49 AM
October 6, 2015 / Loan Types / by W.J. Bradley  Paying the full amount of a monthly credit card bill has serious benefits for potential mortgage borrowers. Your credit score is one of the top factors lending agencies study when determining what size loan they will provide when it comes time to buy property. Improving that score every month can make securing financing easier.
Before you start the mortgage application process, take time to understand what role a credit score takes. Because credit card charges and property purchases seem like two separate types of expenses, many do not realize how much … (2 comments)

burlingame: Is It Possible That Gender May Influence Home Mortgage Approval? - 07/10/13 07:03 AM
If you are applying for a joint mortgage on your property with your spouse or partner, the name that goes first could have more of an impact than you might think.
A 2010 study by the Woodstock Institute showed that mortgage lenders were inclined to show favoritism when men were the lead borrowers on joint applications. The study was undertaken within the Chicago area and it tracked joint applications for refinancing as well as home purchases. Over 250,000 applications were studied in the year 2010.
Surprisingly, the study showed that home purchase applications that listed the female partner as the primary … (0 comments)

burlingame: The Best And Worst Times Of The Year To Sell Your Home - 07/09/13 06:12 AM
Does the time of year when you put your home on the market affect how well it will sell?  What about the final sales price?
According to many studies in housing trends, the answer is yes. The time of year when you sell your home can have an effect on how many people are interested and how much the home will sell for.
Of course, if you need to move and sell your home at any point of the year, you will still be able to find buyers and negotiate a price that works for you. In some areas of the … (1 comments)

burlingame: What's Ahead For Mortgage Rates This Week - July 8, 2013 - 07/08/13 05:02 AM
Last week saw a relatively quiet week due to the 4th of July holiday, but there were some housing-related developments:
Monday: The Department of Commerce reported that overall construction spending increased by 0.50 percent in May to a seasonally adjusted annual rate of $874.9 billion. Residential construction grew by 1.20 percent, and May 2012 construction spending was 5.40 percent higher than in May 2012.
More spending in residential construction can indicate builder confidence in housing markets; added construction could help ease low inventories of available homes.
Tuesday: CoreLogic reported that May national home prices increased by 12.20 percent over May 2012, and grew … (0 comments)

burlingame: Go Green By Faking It With Artificial Grass - 07/05/13 06:26 AM
The summer heat is starting to take its toll on you and your thirsty lawn. Homeowners spend hundreds of dollars every summer striving to grow healthy grass and keep it green.
If you're sick of trying to maintain a manicured lawn, then you can go green another way. Install artificial turf.
The Grass is Always Greener
Today's artificial grass is made out of polypropylene, nylon, or polyethylene threads that are sewn into a mesh backing that allows for water drainage. This is then usually laid on top of compacted gravel and tied down at the perimeter.
Modern artificial lawns can mimic … (3 comments)

burlingame: Happy Fourth of July! - 07/04/13 03:58 AM

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burlingame: 7 Smart Tips To Painting Your Own Home This Summer - 07/03/13 06:19 AM
Winter may have taken a toll on your home's exterior this year. You've been noticing the cracking paint for months, but you don't want to shell out the big bucks to hire a professional painter.
Don't fret! With the weather warming and the nice summer weekends, it's the perfect time to tackle that project of painting your home.
While this might seem like an insurmountable task, especially if you have a multi-story home, it's not. It just takes the right tools and a bit of hard work. Below are step-by-step instructions to having the outside of your house looking shiny and … (0 comments)

burlingame: Liberate Yourself From Your Mortgage With This Simple Plan - 07/02/13 08:42 AM
What if you could accelerate the mortgage payment on your home so that you own your property several years earlier than your 15 or 30 year term?
Making your final mortgage payment and owning your house is an incredibly good feeling and there is a simple way that you can bring about that rewarding day much sooner.
By making one extra mortgage payment every year, you will be able to pay off your mortgage years earlier without putting a lot of stress on your present day finances. Although it might not seem like a lot, just one extra payment per year … (0 comments)

burlingame: What's Ahead For Mortgage Rates This Week - July 1, 2013 - 07/01/13 07:53 AM
The past week was active for economic news and mortgage rates. The aftermath of the Fed's indication that it may start dialing back its multi-billion dollar monthly purchases of Treasury and mortgage backed securities has sent mortgage rates to record highs.
If you're thinking of buying a home, this may be one last chance for finding the best deal on mortgage rates; meanwhile, home prices continue trending up as well.
Here's the scoop on last week's activity affecting real estate markets:
Tuesday's Case-Shiller Composite Indices for April demonstrate the momentum of recovery in many housing markets. As of April, national home … (2 comments)

burlingame: How To Improve Your Credit Score For Better Financing Terms - 06/28/13 06:22 AM
Imagine that you've found the perfect home and are ready to apply for financing. Your home loan approval amount comes back lower than you would have expected and at an interest rate significantly above what you have heard is available on the market.
This could be because you have an average to poor credit score.
Mortgage lenders base interest rates on many things, but your credit score plays a large part. Anything between 720 and 850 will typically qualify for better interest rates. A mediocre score is usually between 660 and 719, and a low score is 659 and under.
If … (0 comments)

burlingame: 5 Important Tips To Help Smooth Your Move With Teens In The Home - 06/27/13 10:08 AM
You've got a new job offer across the country and you are planning to pack your things, buy a home and make the big move.
However, when you tell your 17 year old daughter your plans, she lets out a mournful wail and cries that it is not fair. How can you possibly take her away from all of her friends, her favorite hangout spots and the cute boy she just started seeing?
Moving is a difficult transition and it is often even more traumatic for teenagers. The teenage years are an important stage where young adults establish their individuality and … (0 comments)

burlingame: 3 Clever But Simple Ways To Get Your Home Mortgage Paid Faster - 06/25/13 10:26 AM
Paying off the mortgage on your home faster means that you will not only have the satisfaction of owning your own home sooner, you will also have the benefit of paying much less in interest over the years.
The faster you pay off your mortgage, the more money you can save, so here are some tips to accelerate your payment schedule.
Pay Your Mortgage Every Other Week (Bi-Weekly)
Did you know that if you take your monthly mortgage payment and divide it in half and then pay it every two weeks that you will end up making a full extra month of … (0 comments)

burlingame: What's Ahead For Mortgage Rates This Week - June 24, 2013 - 06/24/13 07:35 AM
Comments by Fed chairman Ben Bernanke after Wednesday's FOMC meeting caused havoc in financial markets as investors anticipated the potential effects of any rollback of the Fed's policy of quantitative easing (QE). Chairman Bernanke said that the Fed may begin reducing its $85 billion monthly purchase of Treasury securities and MBS toward the end of this year.
The chairman made it clear that any decision concerning QE would be based on careful review of current and developing economic conditions. QE is intended to keep long-term interest rates low; any reduction of the QE securities purchases could cause mortgage rates to rise.
Economic News … (0 comments)

burlingame: Federal Open Market Comm Steady w/Mortgage Backed Security Investments - 06/21/13 01:31 PM
The Federal Open Market Committee (FOMC) of the Federal Reserve decided to continue its current policy of quantitative easing (QE) based on current economic conditions. The Fed currently purchases $40 billion in mortgage-backed securities (MBS) and $45 billion in Treasury securities monthly.
Objectives for the QE program include:
Keeping long term interest rates, including mortgage rates, low Supporting mortgage markets Easing broader financial conditions FOMC repeated its position of evaluating QE policy based on inflation, the unemployment rate and economic developments.
Members of the FOMC determined that keeping the federal funds rate between 0.00 and 0.25 percent until the following conditions … (2 comments)

burlingame: Three Tips To Get The Best Financing On Your Second Home Purchase - 06/20/13 05:28 AM
Are you buying a property as your second home? Perhaps you are looking for a small cottage or apartment where you can escape to for your vacations, or maybe you want to have another home closer to your relatives?
Maybe you want to rent out your second property and make a steady income from your investment. Whatever the reason, a second piece of real estate can be a fantastic investment. However, sometimes getting a mortgage on your second home can present a challenge.
Generally, a mortgage lender will have tougher standards for vacation home -- or second home -- loans than … (0 comments)

burlingame: Home Builder Confidence Jumps By Widest Margin Since 2002 - 06/19/13 05:22 AM
U.S. housing markets are gaining as demand for homes exceeds available supplies in many areas. The National Association of Home Builders/ Wells Fargo Housing Market Index (HMI) for June increased by eight points over May's reading to achieve a positive reading of 52. This last happened in August-September of 2002, when HMI monthly readings also jumped by eight points.
Any reading over 50 indicates that more builders consider housing market conditions positive than negative. June's reading was the first time the HMI reading surpassed a reading of 50 since April 2006.
Limited Inventory Drives Sales Of New Homes
Rick Judson, NAHB … (0 comments)

burlingame: RealtyTrac Foreclosure Report Shows 28% Decrease From May 2012 - 06/18/13 03:52 AM

Foreclosure actions increased by 2.0 percent in May from April's 75 month low point for foreclosure activity according to RealtyTrac's U.S. Foreclosure Market Report released June 11. However, the good news is that May 2013 foreclosure filings were still 28 percent below May 2012 filings.
RealtyTrac reports that approximately one in 885 homes were in some stage of foreclosure in May. This does not mean that 1 in 885 homes was lost to foreclosure, but it does indicate that documents related to some phase of foreclosure (Notice of Default, Notice of Trustee Sale, and Bank Reposession) were filed.
Actual lender … (0 comments)

burlingame: What's Ahead For Mortgage Rates This Week - June 17, 2013 - 06/17/13 04:30 AM
Last week's news was relatively quiet with no data significant to the mortgage lending released until Wednesday, when the federal government announced a $138 billion budget deficit for May.
According to the U.S. Treasury this figure is 11 percent higher than for May of 2012, but the federal budget is expected to come in with less than a -$1 trillion deficit for the 2013 fiscal year, which runs from October to September.
The Treasury estimates that the 2013 budget deficit will come in at approximately -$642 billion, well below fiscal 2012's deficit of -$1.1 trillion. The federal budget has been running … (0 comments)

burlingame: How To Rent Out Your Property As A Film Location - 06/14/13 06:17 AM
Whenever a scene in a film or television show takes place in a private home, have you ever thought about who owns that property? Well, it could be you!
The fact is that film and television production companies are always on the lookout for new locations where they can shoot their footage. If you advertise your property in the right way, your home could have its 15 minutes of fame as the set for a film or a television show episode.
Many production companies have been gradually switching over the last few years into filming at 'authentic' private properties rather than … (0 comments)

burlingame: Are You Making These Mistakes Planning Next Year's Taxes? - 06/12/13 11:48 PM

Filing your taxes can be a complicated and confusing process. If you are a home owner you may have many different home tax deductions and credits to consider.
Since we recently passed the filing date for 2012 taxes, it may be a good time to plan for next year and get your tax tracking systems in place. Check carefully to make sure that you are not making any of these common homeowner tax mistakes – which could cost you money or get you in trouble with the IRS.
Miscalculating Your Home Office Tax Deduction
If you work from home, you … (0 comments)