Archive for August, 2009
Can I Get My Property Taxes Lowered?
How much are you paying for property taxes? If you live in an area where a lot of homes have lost significant value, you could be overpaying. There are some steps you can take to try and get your home re-assessed, but be prepared to put in some time doing so.
Many homeowners complain about high [...]
13% Of Homeowners In Default or Foreclosure
In the latest release of the Mortgage Banking Association national delinquency survey, 13.16% of all homeowners are either in foreclosure or at least one payment past due on a non-seasonally adjusted basis.
This number is the highest ever recorded in the MBA delinquency survey.
The number of loans that are either 90 days past due or in [...]
What to Expect at Closing
First-time homeowners are often confused about exactly what will happen at the closing. Basically, the closing is where the home is transferred from the seller to the buyer. You’ll sign a lot of paperwork and receive the keys to your new home. Here’s a rundown of what you can expect on the big day.
Who Will [...]
Foreclosure: When To Hire A Lawyer
If you are having trouble making your house payment and wondering what your options are, here they are in a nutshell:
Loan Modification
Short Sale
Deed-in-Lieu of Foreclosure
Foreclosure
Loan Modification
When attempting to get your lender to modify the original terms of your loan, you may want to hire a lawyer or law firm to help you get it modified [...]
Selling Your House? Beware of Foreclosures
If you are considering selling your house, one of the first things you may want to consider when setting the asking price is “how many foreclosures are in my neighborhood?” While you may think that the foreclosure crisis isn’t fazing you because you can make your payments and just need to sell your home due [...]
4 Reasons To Choose Your Loan Officer Before Your Realtor
While there is no “right” way to go about choosing a loan officer or a Realtor to work with, one thing is clear – you are going to need to choose both a Realtor and a loan officer if you are going to buy a home and finance it.
Probably the most popular method of selecting [...]
Should You Invest in Real Estate Now?
Mortgage interest remain near historic lows and housing values have dropped significantly over the past couple of years, leading you to wonder if it’s time to invest in real estate. That depends upon several factors.
Do you actually have money to invest in real estate? The days of easy mortgage money are over. If you expect [...]
Free Reverse Mortgage Counseling
On July 1, 2009 Money Management International a subsidiary company of Consumer Credit Counseling Service agencies, the largest nonprofit full service credit counseling agency announced that it would offer mature borrowers, over the age of 62 free reverse mortgage counseling.
What does that mean to you? Well as an interest borrower who is over the age [...]
Credit Scores: How Important Are They?
3 years ago, it was possible to get a mortgage even if you had “bad credit”. Today, it is very, very difficult to get a mortgage unless you have at least a “good” and sometimes a “great” credit score.
What Is A Good Credit Score?
In mortgage terms, when a lender looks at your credit score it [...]
FHA Home Affordable Modification Program: Free Conference Call
FHA is Hosting a Free Industry Conference Call on HAMP:
On Thursday, August 13, 2009, from 1:00 p.m.- 3:00 p.m. Eastern Time (10:00 a.m. Pacific Time) FHA is Hosting a free industry conference call to discuss FHA’s new Home Affordable Modification Program (FHA-HAMP).
A copy of Mortgagee Letter 2009-23 “Making Home Affordable Program: FHA’s Home [...]