Coughing Up Info Before The Real Estate Hunt What do you have to divulge before you buy real estate? The short version is “it depends”. The longer version comes after you decided what you’re thinking about budgeting for your real estate and how you’re going to pay for the real estate. It really doesn’t matter [...]
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Taking Mortgage Broker Recommendations There’s a big difference between inexpensive and a good value where home loans are concerned. Throw in a few dozen flashy ads with teaser interest rates and all the magic the loan officer promises to work for you and let the mortgage cyclone begin. Getting a mortgage is unsettling for some [...]
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Pros and Cons of a Bi-Weekly Mortgage Program When a borrower enters into a contract to make bi-weekly payments on their mortgage, the amortization schedule is accelerated. For example, with a 30-year amortization schedule, the borrower makes 12 payments per year. In a bi-weekly arrangement, the borrower makes 26 ‘half’ payments, which allows the loan [...]
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The Low Interest Rates Won’t Last Forever To everyone’s great relief, fixed mortgage rates have been extraordinarily low for the last year averaging between 4.75% – 5.25%. However, perhaps you remember the summer of 2008? Gas prices crested $4/gal, inflation was all the rage and home buyers were snapping up 6.5% mortgage rates like they [...]
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The Homeowner’s Parting “Remarks” If you do not see the video above Click Here. We’ve seen it all and we’re still seeing it, the trashed foreclosure. Occasionally, the owners have just walked away and left the home intact. Other times they take it out on the walls and strip the home bare. Recently, I had [...]
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Mortgage Rates Hit All-Time Low Levels Again! In case you haven’t caught the news, home loan rates have done it again, dropping to their lowest level…ever. Not only has the 30 Year Fixed rate returned to its lowest all time level, rates across the board are at their lowest levels. Yes, that means, go [...]
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First Time Home Buyer Tax Credit Expires Soon Attention potential First-Time Home Buyers!!! You have less than four weeks to close on your new home to get the $8,000 tax credit. Do not rely on an extension with possible additional benefits. Take what you know you can get now. Not what you could or could [...]
The Haunted Halloween Mortgage Rates Report The 4% rates have come back to haunt us this week. Or is that taunt us? For almost one week, the rates were in the 5% range. However, with a last minute inter-day rate change, an eerie ghost appeared on my rate sheet. I quickly snapped this photo of [...]
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There’s no place like 4%, There’s no place like 4% It appears as though potential home owners had their house land on the higher rates of 5% and reward them with some red ruby slippers to wish rates back down into the 4% range. But you better hurry and take advantage of the minor dip [...]
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Don’t Think We’re in the 4′s Anymore Toto Over the weekend a major tornado wreaked havoc on the mortgage industry. Analysts are certain of the cause, but while siphoning through the damage, on thing is certain. 4% interest rates have disappeared from this realm of reality. While we can only hope that these rates find [...]
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Financing after bankruptcy, foreclosure, short sale, deed-in-lieu
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Record Low Rates, Get What You Need "You can’t always get what you want, but if you try sometimes, well you just might find, you get what you need." – Rolling Stones What does that have to do with this week’s mortgage rate report? Well, funny you should ask. I have heard from a very [...]
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Finance Barbie: Fake Currency Included Party Dress & Yacht Sold Separately Several days ago I was crossing the state in my car. While listening to the radio I overheard a report of senior vice president, banking executive who had “borrowed” a bank owned home in Malibu, California for her own personal use and entertainment. On [...]
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The Banks Ran Me Around For Two Years and One Half Years Two and one half years with no payments made to the bank, no response from the bank, no foreclosure, no loan modification, seven accepted offers at about $40,000 as a short sale on his home when he just needed and wanted an [...]
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Banks Get The Gold Mine Consumers Get The Shaft … and Jesus Loves You Sometimes actually getting the bank to give a loan modification doesn’t end with the borrower being getting their issues solved. Loan modifications are an emotional roller coaster. From the day a borrower finally gets a living, breathing human on the phone [...]
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