http://mortgage.freedomblogging.com/2009/03/31/fannie-freddie-to-the-rescue/8541/
It wasn't that long ago we discussed that the lowering of interest rates would cause a serious competition for funds from re-financing....here's the evidence to support the fact that at the moment there is not enough liquidity to satisfy both a surge in real estate sales and re-financing....be cautious about month end closings...as lenders push back target dates....suggestions include but are not limited closing before the 25th and after the 3rd of every month avoiding the rush/panic....insist on short escrows....because long escrows only allows for the expansion of the job to fill the allotted time; with other deals taking priority in the queue over yours...many times the same "crisis" exists after 45 days that was avoidable with a two week escrow which ran over a week....instead of a 45 day escrow that runs over a week....close the deal....rent the property back if you have too....
Dick Crawford closed his double ended ‘Amberwood" sale in Anaheim Hills yesterday....congratulations....our 8 closings scheduled for March has turned into 5 as of this moment....Cutty #86 was pushed back due to the lender....Florette is pushed back due to the lender....the new home sale in Corona is most likely canceled as the builder delayed completion until June....the buyer's of the new house are seller's of #89 Cutty that sold in February who rated us a "Perfect 10"......
How may we help you today?
Mike
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