Blog

  • Fri, 20 Apr 2012 8:08:06

    Short Sales Are Up, Now What?

    Short sales are up due to the foreclosure rates dropping. Now you wonder how this affects the real estate market. Well, before we get into that, some back ground:  Short sales happen when a lender agrees to sell a home for less than it the mortgage is worth.  In this case the lender forgives the difference and the borrower is no longer responsible for the home they cannot afford.  The short sale process is becoming more efficient, which is both good news for lenders and borrowers. This streamlined process is much more organized making turn around quick; typically homes spend more than a

  • Wed, 11 Apr 2012 4:47:01

    Bank of America Offers New Program Aimed at Helping Struggling Homeowners

    Bank of America announced this month that they will be offering a new program that allows struggling homeowners to start renting their homes rather than have them taken through foreclosure. The program, still in its beginning stages, will only test markets in Arizona, Nevada and New York, some of the states hit hardest by the housing crisis. Homeowners that live within the test markets and have loans held through Band of America will only be eligible for the new program if BofA sends them a letter inviting them to participate, no one will actually be allowed to apply for the program. Also,

  • Mon, 26 Mar 2012 2:19:57

    Credit Scores and Your Mortgage

    Owning a home is a long-standing dream for many Americans, and most prospective homebuyers are compelled to financing in order to buy.  However, did you know that your credit score can determine your interest rate and payment terms with a mortgage lender? So the question now is, just how much of your credit score weighs in on your mortgage payment? What Is A Credit Score? A credit score is a number used by lenders to regulate how likely you are to pay back the loan.  They are calculated by using the information contained within your credit reports.  Scores can range from 300-850.  Ge

  • Wed, 21 Mar 2012 2:26:20

    Guide to the Fed’s Mortgage Settlement

    A little over a month ago the federal government and 49 states revealed that they made a $25 billion settlement with five of the largest mortgage servicers to help homeowners who have lost their homes to foreclosure or need help making their payments on time. Much of the nitty-gritty part of the settlement is still being worked out. But the Center of Responsible Lending, a nonprofit group that supports the borrowers printed a summary and a preliminary guidebook to help consumers find out if they are eligible under the settlement. The guide is an overall outline of standards and condition

  • Mon, 12 Mar 2012 6:44:43

    Advice for Aspiring Young Homeowners

    For anyone in a committed, long-term relationship that is thinking about marriage, the next step usually seems to be buying a home together. However, for many couples, investing in a home can lead to a potential breaking point in the relationship. Not only must the partners agree on a location, price range and size of the home, but they also have to figure out how to finance it. Any couples that are considering homeownership should be sure to go into the process with a well-laid plan that both partners agree upon in order to save themselves financial headaches in the future. The following a