Home Sale Contingency


Many sellers will leave my office after signing their contract  and start scheduling appointments to look at potential homes to purchase. If they happen to find the right home too soon, it may be risky to proceed to contract until the purchaser of their home has received an unconditional written mortgage approval. By entering into contract … More Home Sale Contingency

Are you thinking of a Strategic Default on your mortgage?


If so, you have lots of company. Approximately 20% of the mortgage defaults so far this year involved borrowers who could afford to pay their mortgage according to Experian, the consumer credit agency. They go on to report that it does appear that the pace of these defaults is slowing however. This is in part … More Are you thinking of a Strategic Default on your mortgage?

How Financial Overhaul Changes the Mortgage Market


The financial-regulatory overhaul will result in some big changes in how Americans go about getting a mortgage. The goal is to make loans “safer” for those seeking them. As a result, fewer borrowers will qualify. This will also add to the cost of lenders making loans, which cost will likely be passed on to the … More How Financial Overhaul Changes the Mortgage Market

Biggest Defaulters on Mortgages are the Rich


The New York Times reported last Thursday 7/8/10 that one in seven homeowners with mortgages in excess of one million dollars are seriously delinquent on their mortgages. By contrast, one in 12 homeowners with mortgages below one million dollars is delinquent. According to Corelogic, the company that compiles such real estate anaytics, the reason may … More Biggest Defaulters on Mortgages are the Rich