Most economists agree the housing crisis remains the biggest obstacle to economic recovery in the US. But there’s no consensus on how best to fix it and the rate of foreclosed properties has hit a record high. Comments or questions about this video? We’d love to hear from you. Just click the comment link below […]
How Long Can These Record Low Rates Last?
Just as we saw over Thanksgiving, mortgage rates have dropped below the historic four point mark again, according to Freddie Mac’s weekly mortgage rate survey which cites the average rate on a 30-year fixed rate mortgage recently at 3.94 percent. The survey notes that the 15 year fixed rate mortgage rate hit a new record […]
Your Mortgage: Walking Away is Not an Option
Since the housing crash, millions of Americans have lost their homes. If you have trouble making your monthly mortgage payment, it is important to learn what you can do if you are facing foreclosure, to either minimize its’ financial impact, or hopefully avoid it altogether. Walking Away is Not an Option! People facing insurmountable financial […]
Foreclosures: Finding Funds For Investing
There are many different ways to secure funds for foreclosure investing. Many of the top investors have their own money allotments for foreclosures, or a tight relationship with a bank who views them as a small business. While this is great for the seasoned investors, where does that leave the new investors in the market? […]
FHA Loan Limit Raised, Despite Opposition
Congress moved to raise the loan limit for mortgages backed by the Federal Housing Administration recently, despite some lawmakers’ fears of artificially propping up the market. The bill increased the ceiling on the loans to $729,750, up from $625,500 in October. The loan limit had been raised to this level before in an attempt to […]
Special Loan Programs For First Time Gulf Shores Home Buyers
For first time Gulf Shores home buyer’s, the loan process can be extremely intimidating. When you’re buying a home for the first time, you will likely be bombarded with advice from family members, co-workers, and friends, much of which is either inaccurate or not applicable to your particular needs. Acquiring first-hand knowledge of the loans […]
Mortgage Costs to Watch Out For
Faced with plunging property values and rising defaults, lenders are charging borrowers higher mortgage rates and adding fees. Not all of these added costs are set in stone, however. If you’re looking for a loan, vigilant shopping and a little haggling can go a long way toward landing a better deal. Here are some fees […]
Real Estate Short Sales Explained
The term “short sales” is used to describe a situation in which a homeowner is at risk of defaulting on their loan, and the lender agrees to sell the property below the original appraisal price in order to avoid foreclosure. Most lenders do not readily agree to short sales, although exceptional circumstances such as a […]
Refinancing Your Mortgage – What is a Good Credit Score?
Once upon a time, it used to be that a person with a credit score of 640 could refinance their mortgage and pretty much be assured of getting the best rate on that mortgage. Unfortunately, those days are long gone. The mortgage credit crisis of 2007 and 2008 resulted in nearly every mortgage loan source […]
20 Percent Mortgage Down Payments Unlikely
Remember the proposed requirement from six federal agencies that home buyers make down payments of at least 20 percent if they want the lowest interest rates? We’ve been keeping you up to date on this issue here, and the latest is, the 20-percent proposal is still alive, but it’s temporarily bogged down in agency reviews […]
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