Short Sale Defined Short selling is a financial maneuver that takes place in different financial sectors, including the mortgage industry. A short sale occurs when the mortgagor permits you, the borrower, to sell the real estate that you own for less than the unpaid balance of mortgage debt. Here you, the property owner are not […]
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The new enhanced HARP 2.0 is slated to be available March 19th. There are so many misconceptions about this new program floating around that I thought it was prudent to sift facts from fiction. Does my loan have to be backed by Fannie Mae or Freddie Mac to be able to refinance? Yes, your […]
I am consistently asked “why I would list the house for short sale instead of just walking away?” Besides the financial benefits, the short sale process is the right, honorable choice instead of foreclosure. I am talking about when the home owner is just abandoning the property and not even considering the short sale. Why […]
Fannie Mae HomePath Financing The Fannie Mae HomePath program is an attraction solution for financing condos and townhouses. Many people are familiar with HomePath’s attractive features for all types of properties: down payments as low as 3% of the purchase price, seller contributions up to 3.5% of the purchase price, no mortgage insurance required. However, […]
Hey looking to purchase a home in the Pacific NW! Have heard the word there’s a new 100% financing program on the table and in some cases income isn’t a dis-qualifier. Its based on the income levels where you want to purchase you next property. All that’s needed is the address and if the income […]
Federal Government to Consider Not Guarantying Jumbo Loans A news item today in the Finance section of Yahoo, showed a news article in the New York Times reporting housing might take another blow as President Obama’s administration is considering stopping the guaranty of larger home loans. It quotes the “Obama administration’s position paper on reforming […]
Should you choose an Adjustable Rate Mortgage? In the recent past, many people were in deep trouble due to Adjustable Rate Mortgages on their homes. This was due to a couple of factors: first, they came due in short periods of time and had to be renewed; and secondly, their homes were devaluing quick enough […]
The Seattle Real Estate market is, in my humble experience, sizzling right now. Last spring things were discernibly slower than usual, although there was definitely a spring rush. But this year quite often it’s an all-out sprint to be the first one to get an accepted offer in on that new home on the market […]
Mortgage rates have risen steadily since November of 2010 and after five straight days of deterioration the best execution for 30 Year Fixed Conventional loans is now hovering around 4.875%-5.125% , depending on the credit rating of the borrower and fees on the loan. Rates are expected to continue to rise as the market for Mortgage Backed Securities transitions from the 4.5 coupon to the 5.0 coupon. New loan […]
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