If you are applying for a mortgage loan, it is important to understand the meaning of the term “points”. In the mortgage industry, points has multiple meanings. The loan origination fees charged by the lender to make the loan is referred to as points. Additionally, the fees charged in order to lower your interest rate … More Points or No Points?
The recent volatility in the stock market together with the continued decline in mortgage interest rates ( which last Thursday were the lowest in 50 years) , has led many financial advisers to recommend to their clients to turn to real estate with their cash. This Smartmoney.com article goes on to point out that acting … More Forget the Market. Buy a House!
Former FSBO CEO sells home the traditional way Founder and former CEO of ForSalebyOwner.com, Colby Sambrotto listed his 2,000 square foot New York condominium on his own through online classified ads and FSBO sites, but after six months, he opted to hire New York broker Jesse Buckler who immediately advised a price change as the … More ForSalebyOwner.com founder gives up on own listing, hires real estate broker
According to this Wall Street Journal article, lenders are instructing appraisers to be a little more conservative when appraising homes for mortgage purposes. In fact the number of cancellations of real estate transactions has been on the rise due to this downward bias on home values. Read article
According to research from real estate analytics firm Corelogic, short sales have tripled over the last two years and are expected to rise another 25% by the end of 2011. The Corelogic analysts report that banks appear to finally believe that the short sale is the lesser of the two evils when compared to the … More Banks Now Prefer Short Sales Over Foreclosures
According to a recent Census Bureau report, the percentage of people who own homes has dropped to 65.9% during the second quarter. However, when you add those home owners who are delinquent on their mortgages and will likely lose their homes through foreclosure, the actual percentage of home ownership is 59.2% according to a Morgan … More Home Ownership Hits Lowest Level Since 1965
The recent economic turmoil over the past week has brought mortgage rates down to near historic lows again. According to most financial experts, this is a great time to refinance, but you better act fast. Whats the rush you may ask? For one- the recent downgrade of the US credit rating will result in the … More Is It Time To Refinance?