Gulf Shores housing is finally recovering as conditions have boosted affordability to an all-time high. At the same time, a new study shows that lenders’ unwillingness to loosen their qualifications may be slowing down the recovery. The latest data from the annual Harvard Joint Center for Housing Studies report shows that, in general, the Gulf […]
Help for Homeowners: HARP 2.0
If you’d like a lower rate on your mortgage, HARP might be able to help. Get more mortgage tips and information by choosing the “Mortgage Info” category to your right. If you have questions about a mortgage or qualifying for a mortgage, use the comment link to contact us.
Responsible Homeowners Left in the Cold
Another cruel irony of the housing bust? While hundreds of thousands of mortgage borrowers have been able to squat in their homes without making a single mortgage payment in months or even years, many responsible homeowners who have good credit and consistently meet their monthly obligations haven’t been able to refinance in order to avoid […]
Home Equity Loans: Things You Should Know
Great Benefits, Serious Risks – A loan secured by a homeowner’s “equity” can be an economical way of borrowing money because the interest rate is typically low and, for many people, the interest paid will be tax deductible. However, there’s a big risk… Have questions about home equity loans not answered here? Use our comment […]
More Homeowners Refinancing Into Shorter Loans
More homeowners prefer to pay off their mortgages sooner as interest rates have stayed near rock-bottom and weak labor conditions have caused them to reduce their debt loads. According to a recent survey, the current trend in refinancing into shorter-loan terms is a stark contrast to the one during the height of the housing boom, […]
Mortgage Conforming Loan Limits Changing Soon
The conforming loan limits are changing – what does that mean and why should you care? For most borrowers, it probably means nothing at all, in fact the majority of the country falls into the standard conforming limit and they won’t be affected at all. Since 2006, the conforming loan limit has been set at […]
Helping Your Child Buy a Home
Here’s how parents can help with the downpayment, satisfy lenders and not pay any gift tax. Have questions or comments about this video? Just use the comment link below to post your question or comment.
Real Estate News – August 2011
In this Issue:* Home Loan Comparisons: The Basics Pending Home Sales Rise Unexpectedly 3 Ways to Get More From Your Plastic (Your comments are welcome at the bottom of our newsletter) Home Loan Comparisons: The Basics Some first time home buyers as well as experienced home buyers sometimes have a difficult time searching for and […]
Mortgages: Closing Costs Are Rising
Mortgage closing costs are on the rise across the nation and are up 8.8% over the last twelve months. Origination and title fees on a $200,000 home loan average $4,070 nationally according to Bankrate Inc.’s 2011 Closing Costs Survey. Banks are requiring extra employment verification and the like to keep loans in shape for Fannie […]
Mortgages: Should You Keep Paying On Yours?
Should you keep paying your mortgage on a home that’s dwindling in value? No way, say an increasing number of underwater homeowners who are voluntarily choosing to “walk away” from their home loans, a practice known as “strategic default.” Jon Maddux, CEO of YouWalkAway.com, reports 10% more clients this year to his company, which advises […]
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