waterstone mortgage: Selecting a mortgage company Part 2 of 4 How about a Credit Union?
- 07/08/14 03:33 AM
When it comes to choosing a mortgage company that you are going to choose its important to know who you are working with.
Are you a member of a credit union? Then you may consider going to your credit union for a mortgage loan. When you go to your credit union you will usually be working with an hourly employee of the credit union who works in the "loan department". They may not be specifically trained or experienced in residential mortgage loans. Chances are they do some mortgage loans, but they also may do personal loans, car loans, small home equity … (0 comments)
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waterstone mortgage: Selecting a mortgage company Part 1 of 4 What do mortgage brokers do?
- 06/24/14 05:13 AM
When it comes to choosing a mortgage company that you are going to choose its important to know who you are working with.
A mortgage broker is usually an in-between company that has a contract with other mortgage lenders that agrees to pay them a fixed percentage on any loan that closes through their company.
In this scenario a borrower/client meets with the mortgage broker, provides documents and the loan originator discusses the programs, rates, fees etc... for the particular lender that best suits the clients needs. Assuming that the client qualifies, the Loan Originator sends the file to his/her loan processor and the file usually goes … (8 comments)
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waterstone mortgage: Case Shiller Price Index Shows Homeowners A Rise In Home Equity
- 01/30/14 12:25 AM
Case Shiller Price Index Shows Homeowners A Rise In Home Equity According to the S&P/Case-Shiller 10 and 20-City Home Price Indices released Tuesday, the U.S. Housing Market is on a roll based on year-over-year increases in average home values, but month-to-month results were mixed.
The 10 and 20-City Home Price Indices showed year-over-year growth of 13.80 and 13.70 percent respectively.
Highlights Include:
Dallas, Texas posted its highest rate of annual growth since 2000. Chicago’s average home price rose by 11.00 percent, its highest annual gain since December 1988. The 10 and 20-City Indices posted their best November home prices since … (0 comments)
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waterstone mortgage: What’s Your Home’s Real Value?
- 01/29/14 03:27 AM
What’s Your Home’s Real Value?
As a society, it seems like we’ve gotten away from appreciating our homes for their emotional and sentimental worth. Instead, we focus solely on their monetary value.
An Appraiser Can Estimate A Home’s Monetary Value, But To Gain A True Concept Of Your Home’s Worth, You Must Also Take Into Consideration:
Pride Of Ownership. You don’t buy a pair of Prada shoes because you’re going to be able to resell them and make a profit. You buy them because they make you look good and feel good. Security And Stability. Your home provides a roof … (0 comments)
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waterstone mortgage: Creative Ways To Recycle Everyday Household Items
- 11/07/13 10:47 PM
Every week the trash truck comes to pick up our garbage and unwanted items, which are promptly taken to landfills. Instead of filling landfills and just buying new items to stuff our homes, we can help the earth and recycle everyday household items.
Below are a few fun and creative ideas for recycling things around your home that you might be ready to trash.
Coffee Table Into Bench
If you just purchased a new coffee table, don’t give away the old one — repurpose it. Find a space in your home where you could use some additional seating, like at the … (0 comments)
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waterstone mortgage: Factors To Consider When Applying For A Home Mortgage
- 11/06/13 10:58 PM
Owning a home can be a sign of independence and success. It allows you to build up equity and the mortgage interest and property taxes are tax-deductible. What can you do to make a home affordable for you?
Reputable lenders look at a list of criteria to decide how much they’ll loan you.
This List Includes:
Credit score Existing assets including cash Car leases or loans Credit card balances Debt consolidation loans Home equity loans Installment loans Student loans Other monthly debts Size/source of your down payment If you’d like to get an idea of what you can afford before talking … (1 comments)
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waterstone mortgage: Are 50 Year Mortgages A Good Financing Option?
- 11/05/13 11:32 PM
When most people are taking out a mortgage on a property, they select either a 15 or 30 year mortgage loan. However, there is a new mortgage option that has been available to home owners since 2006 and that is the 50 year mortgage loan.
Although a half-century might seem like a very long loan term, there can be some advantages to taking out a five-decade mortgage. Here are some of the pros and cons to taking out a mortgage that you repay over 50 years.
Advantages
The main benefit that you will experience with a 50 year mortgage is the … (1 comments)
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waterstone mortgage: When Should You Shred Your Financial Documents?
- 11/04/13 10:32 PM
How do you know what happens to your documents when you put a piece of paper in the trash? It can be difficult to know who is seeing it and what they are doing with it. It isn’t very common to burn trash anymore; therefore you can be sure that your paper garbage or recycling is likely to pass through several hands on its way to a landfill or recycling center.
Step-By-Step, Your Documents Can Get Pilfered
Every step that occurs once the trash leaves your control has risk that someone will find personal information they can use to cause you harm. One … (1 comments)
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waterstone mortgage: What’s Ahead For Mortgage Rates This Week – November 4, 2013
- 11/03/13 10:43 PM
Last week’s economic news came from a variety of sources. Most significant was the Fed’s Federal Open Market Committee statement after its meeting ended Wednesday. The statement indicated that the Fed saw moderate economic growth. FOMC did not taper its purchase of MBS and Treasury securities.
The FOMC statement announced the committee’s intention to closely monitor economic and financial developments ”in the coming months,” which suggested that the FOMC is taking a wait-and-see position on reducing its $85 billion monthly asset purchases.
Mortgage Rates, Jobless Claims Fall
The Fed’s asset purchase program, also known as quantitative easing, was implanted in 2012 with a goal … (0 comments)
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waterstone mortgage: Recent Government Activity And Its Effect On Mortgage Interest Rates
- 10/31/13 11:44 PM
Mortgage rates typically are tied more to the yields on the 10-year Treasury note more than any other indicator. With the government in flux as the shutdown happened and ended, mortgage rates are also changing.
Overall, mortgage rates have decreased because of a lack of confidence in the government’s ability to get its finances under control.
Although rates spiked in September when the Fed hinted that they would not be purchasing as many bonds, they quickly released an announcement that they would actually be maintaining their current purchasing habits.
The Time Is Ripe For Homeowners
Since then, mortgage interest rates have … (1 comments)
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waterstone mortgage: Fed Meeting Minutes Release Hope Of A Stronger Economy With New Measures
- 10/31/13 12:36 AM
The Federal Reserve’s Federal Open Market Committee released its customary after-meeting statement on Wednesday. In the context of meeting its dual mandate of stabilizing pricing and achieving maximum employment.
The FOMC statement indicated that although the economy has improved in areas including household spending and labor market conditions, the national unemployment rate remains high and the housing market recovery has slowed.
Fed Says Fiscal Policy Restraining Economic Growth
The FOMC statement said that current fiscal policy and ”retrenchment” is restraining economic growth as evidenced by failure to achieve benchmarks set by FOMC as indicators of a healthy economy. Benchmarks include a national unemployment … (0 comments)
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waterstone mortgage: Beware Of Zombie Titles
- 10/29/13 11:37 PM
With the economic downturn, anyone dealing in real estate quickly became familiar with previously little-known terms such as foreclosure and short sale. Now that the housing market is picking back up and people are moving on, a new term is coming to light — zombie titles.
The Zombie Title
This is when a home has been vacated because the owners defaulted on their loan and their bank started the foreclosure process. However, for some reason or another the bank never completed the foreclosure and sold the home.
So, when the city starts fining someone for the overgrown grass and dilapidated structure, … (1 comments)
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waterstone mortgage: What You Should Know About Pending Home Sales This Month
- 10/29/13 12:27 AM
Pending home sales fell in September by -5.60 percent, and were 1.20 percent lower year-over-year. This is the first time in more than two years that pending home sales have fallen below year-earlier readings. September’s reading was below August’s reading of -1.60 percent.
The National Association of REALTORS®, which released the report, expects lower home sales for the fourth quarter of 2013 and flat sales into 2014. NAR provided good news in its forecast of 10 percent growth in existing home sales in 2013 as compared to 2012.
A spike in mortgage rates in August coupled with rapidly rising home prices … (0 comments)
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waterstone mortgage: What’s Ahead For Mortgage Rates This Week – October 28, 2013
- 10/27/13 11:30 PM
Federal government agencies issued reports that were delayed by the government shutdown; and Freddie Mac reported that average mortgage rates fell for all types of loans it reports. The National Association of REALTORS issued its Existing Home Sales report on Monday. While 5.30 million home sales were expected an annual basis, September’s reading fell short at 5.29 million sales.
August’s reading was adjusted from an original reading of 5.48 million, which equaled July’s reading. Higher mortgage rates and home prices were cited as contributing to the slip in September’s sales.
The Bureau of Labor Statistics issued the Nonfarm Payrolls report for … (1 comments)
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waterstone mortgage: 3 Easy Tips To Protect Your Deck This Winter
- 10/25/13 12:16 AM
Barbecue season is all but over, and you won’t be spending as much time out on the deck. Don’t let it get you down, though. Spring will be here before you know it. There are a lot of things that can wear down and damage your deck, so protect your deck and make sure it stays in tip top shape over the winter.
Cover The Furniture
You want your deck to look as good in the spring as it does now. The first step is to cover all the furniture (don’t forget the grill!). Cover everything with commercial furniture covers or … (0 comments)
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waterstone mortgage: City Lights Or Starlit Nights, What Home Location Is Best?
- 10/23/13 12:40 AM
If you are looking to buy a home, you might be wondering whether you should be looking for properties that are right in the center of the city or property in a rural area a short drive away.
The rural or urban decision will ultimately be up to you, as there are advantages and disadvantages to either option. The main difference will lie in your priorities – what type of lifestyle is most important to you?
Living In The City
One of the main perks of buying a property that is located in the heart of the city is that you … (0 comments)
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waterstone mortgage: The Government Shutdown And Its Effect On Existing Home Sales
- 10/21/13 11:38 PM
Existing home sales for September fell by 1.90 percent from August’s revised reading of 5.39 million sales to 5.29 million sales. Economists had expected 5.30 million sales for September, so a slow-down in existing home sales had been anticipated.
The National Association of REALTORS cited higher home prices and mortgage rates as factors contributing to fewer sales of previously owned homes.
Home Prices Easily Outpaced Income Growth
According to Lawrence Yun, NAR’s chief economist, home prices ”easily outpaced income growth.” Consequently, affordability has fallen to a five-year low. Mr. Yun also indicated that a government shutdown was expected to affect home sales in … (1 comments)
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waterstone mortgage: What’s Ahead For Mortgage Rates This Week – October 21, 2013
- 10/20/13 11:33 PM
Many of the economic and housing reports typically scheduled were delayed by the federal government shutdown.
The National Association of Homebuilders Wells Fargo Housing Market Index for October was released Wednesday with a reading of 55, lower than the projected 58 and previous month’s revised reading of 57. The original reading for September was 58, which was the highest measure of builder confidence since 2005.
NAHB cited concerns over mortgage rates and the federal government shutdown and its consequences as reasons for homebuilder confidence slipping.
While the NAHB HMI reading was lower than last month, it remains in positive territory as … (0 comments)
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waterstone mortgage: 4 Tips On Giving Your Mudroom A Makeover
- 10/11/13 12:25 AM
From crunched-up leaves stuck to bottoms of shoes to bulky coats shed as soon as kids walk through the door, mudrooms are ideal for keeping outdoor dirt, wet clothing and outerwear from being strewn throughout your home.
Mudrooms not only keep the rest of your house clean, but they also designate a spot for those last-minute grabs, such as coats, umbrellas and purses, when you’re running out the door.
These rooms are great catchalls. However, an organized mudroom can make your life and those hectic mornings much less stressful. Below are smart tips for getting your mudroom ready this fall.
1. … (1 comments)
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waterstone mortgage: 5 Strategies To Secure Your Home Against A Break In
- 10/10/13 12:28 AM
Having your home broken into is completely violating. Burglars don’t just steal your stuff; they steal your peace of mind. While this is the sort of thing you think will never happen to you, it’s worth the time and effort to make sure you’re not a target.
Below are five strategies to help secure your home against a break-in.
1. Use Landscaping As A Barrier
Purposefully place plants in spots that create a natural barrier to your home. Plant thorny rose bushes in front of bedroom windows and remove overgrown shrubs that provide coverage for creepers.
Also, trim back any tree … (0 comments)
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