August 27, 2009
Debt Free Living, Savings, bank of america, buying, credit, first time buyer, housing market, money, mortgage, prices
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The quick answer: You bet! With record low interest rates, there are a lot of us out there refinancing or purchasing a home. However, so many are wowed by the interest rate and the long term savings that we do not look at the fees charged at closing to get the loan. If lenders are saving the borrower money, they have to make up the profits somewhere and that could be in the fees. This video explains how you should compare and negotiate to get your best deal.
Click here for the video!
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August 10, 2009
Savings, bank of america, buying, credit, first time buyer, housing market, money, mortgage
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With mortgage rates at all time lows, buyers are in the driver’s seat when it comes to getting a great deal. Or are they? This video from Bankrate.com shows how to compare offers to ensure you’re getting the best deal possible and what to look for. Check it out! Read the rest…
August 5, 2009
Savings, bank of america, credit, home owner, housing market, money, mortgage, problems
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2009 has unfortunately ushered in a new buzz phrase: “Loan Modification”. But how does one get a modification? What are the qualifiers? Finally, Housing and Urban Development (HUD) has announced guidelines. Check out this press release on what it all entails.
Click here to utilize an interactive online eligibility qualifier: http://www.makinghomeaffordable.gov/modification_eligibility.html Read the rest…
June 29, 2009
FSBO, Savings, bank of america, buying, credit, first time buyer, home owner, money, mortgage, problems, real estate, realtor, selling
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You see the late night infomercials touting “EASY PROFITS!” But if it was that easy, wouldn’t everyone be doing it? Time to blow away the smoke and mirrors to the truth on short sales, folks. It’s a time consuming process that is a difficult (and not always successful) method to purchasing a home with a substantial discount.
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June 17, 2009
FSBO, activity, bank of america, buying, credit, first time buyer, government, home owner, housing market, law, prices, problems, real estate, selling, things to do
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Well, here I go again, on another political rant. (At least I warned you.) As a result of the Fannie Mae/Freddie Mac fiasco, there has been a lawsuit settlement reached between the NY Attorney General, the Office of Fair Housing and Equal Opportunity, Fannie Mae and Freddie Mac. While the proposed law seems good on the surface (it’s meant to protect us, right?), there are some serious flaws that will hurt borrowers, sellers, lenders and real estate agents. It will most likely hinder efforts to sell property in the future. Read the rest…
May 29, 2009
Savings, bank of america, buying, credit, first time buyer, government, housing market, irmo, money, mortgage, real estate
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I was amazed, but then again, not really so surprised at the latest press release from HUD today. They issued Mortagee Letter 09-ML-15 “Using First Time Homebuyer Tax Credits”. It really tells us the bigger picture with some information, but the really useful details are totally left out. What makes me uneasy is that each state and each lender can really do their own interpretation of the rules here in many ways. Read the rest…
January 29, 2008
FSBO, Lake Murray, Richland, ballentine, bank of america, blythewood, buying, chapin, columbia, credit, first time buyer, home, home owner, housing market, irmo, lexington, mortgage, prices, problems, real estate, realtor, relocation, selling, south carolina
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For those of you who have read this blog for a while, you know I think the whole concept of having some sort of meltdown or crisis in the real estate economy is a bunch of “hooey”. Perhaps I’m a bit spoiled, here in Columbia, South Carolina where the market is basically insulated from any wild swings in property values. However, for those that are convinced we are in crisis mode, this video is just for you.
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January 25, 2008
Lake Murray, Richland, ballentine, bank of america, blythewood, buying, chapin, columbia, credit, first time buyer, government, home, home owner, housing market, irmo, lexington, mortgage, prices, real estate, realtor, relocation, south carolina
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As the latest stimulus package is winding its way through Congress right now, more details are coming out. In addtion to taxpayers getting up to $1,200 in checks, there’s also a part of the plan that will temporarily raise the conforming loan limits for Fannie Mae and Freddie Mac. This package targets major metro areas with high housing costs.
With a median price of around $140,000, Columbia, South Carolina is nowhere near the ceiling for either program. However, the programs will allow the new limit to be 125% of the median price range. No matter how you slice it, this plan is great news for buyers and those of us in the real estate industry.
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January 24, 2008
Lake Murray, Richland, ballentine, bank of america, blythewood, buying, chapin, columbia, credit, event, first time buyer, government, home, home owner, housing market, irmo, law, lexington, mortgage, real estate, realtor, selling, south carolina
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It is absolutely amazing the stories and headlines that have been in the press lately. They are screaming about the economy heading into a recession and are finding new and innovative ways to help out ‘the common man’. Granted, the Columbia, South Carolina economy is doing very well, thank you…but who am I to turn down free money like this?
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January 23, 2008
Lake Murray, Richland, ballentine, bank of america, blythewood, buying, chapin, columbia, credit, first time buyer, home, home owner, housing market, irmo, lexington, mortgage, prices, realtor, relocation, south carolina
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When the Fed announced they were cutting their rate to loan money to banks, I knew those of us In South Carolina were about to get a huge gift from good old Uncle Sam. Shortly after, I started seeing rates of 5.5% for a 30 year, fixed mortgage. But is this too good to be true? Could it last? What could it mean to the larger economic picture? Read the rest…
