According to Realty Trac nearly 25% of the homes that sold during the second quarter of 2010 were homes that were either foreclosed on by the lender or sold by a short sale. This CNN Money article breaks down the statistics further to give a better perspective of our current market. For those seeking an … More Foreclosures selling at 26% discount
Fannie Mae and Freddie Mac are stuck with nearly 150,000 foreclosed homes that they are scrambling to unload. They are making it known that they will now offer some important incentives to buyers who consider their properties. When compared to similar homes being sold by individuals, these incentives will make it very tempting to more … More How To Buy A Home At $100,000 Discount
This article from The Wall Street Journal addresses the dilemma faced by the Federal Reserve as the housing market continues to struggle despite the historically low interest rates that exist for buyers today. The comparison is made to the auto industry where 0% financing has helped move inventory for auto makers. Will such a tactic … More Are 0% Mortgage Rates Coming?
According to the Case-Shiller Index, home prices have now risen for five straight months, but the rate of growth has slowed. What does this mean to the average seller and buyer who is out there trying to figure out what to do?Although the consistent move up in prices seems like good news pointing to the stabilization … More Home prices up, but growth rate slows
The Real Estate Settlement and Procedures Act (RESPA) was enacted into law to protect buyers who obtained mortgage financing on their purchase to receive clear disclosure of expenses involved on their transaction. Understanding the intent of this law can be better understood by taking this quiz. Whether you are a real estate agent or a … More Take The RESPA Quiz
More than a third of the homes on the market now are short sales. If you are one of these sellers that face this reality of selling your home for less than the amount owed on your mortgage, make sure that you disclose this fact to your realtor. Failing to do so could give you … More Short Sales: Full Disclosure Needed
Did you know that the government already collects information about you and your mortgage when you apply for a mortgage? For years they have been able to find out your sex, race and income level. Now, under the Dodd-Frank Wall Street Reform and Consumer Protection Act additional data will be collected so that the government … More What the government knows about your mortgage
Having a Will is one of the most important financial planning documents to have, especially as your move towards retirement. Unfortunately, the majority of our population do not have wills or any other estate planning documents due to the fact that they do not want to think about their mortality. Furthermore, they don’t want to … More The Case Against Do-It-Yourself Wills