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.
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…
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.
Everyone’s talking about the housing crisis being a near financial windfall for buyers these days. However, the question remains “Is it right for YOU?” While it could be the time to take advantage of a housing market that’s not nearly as high priced as it once was, it could be the wrong decision personally. I always advise clients that if their plans have them selling within three years of making the purchase, renting is a wiser choice. Read the rest…
The excitement of owning your first home is a feeling you won’t soon forget. There are a lot of firsts we will always remember in our lifetimes: our first kiss, first car, first love…and our first home. But what’s involved in making a wise first home decision? CNN Money Editor and author Gerri Willis has some great tips in this video.
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. Read the rest…
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…
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…
It’s easy to fall victim to all of the “Chicken Littles” of the world and believe that the economic sky is indeed falling. However, how did all of this start, and are we truly in such bad shape? Dave Ramsey takes this topic on and deals with many of our questions and concerns, one by one – including the real estate market. How bad is it, and will it recover? If so, by how much? What will be the leading indicators that we are in a recovery? Should we invest in gold? How can my 401(k) be so worthless now, and should I cash it out?
Got questions? This video most likely will provide the answers you are seeking. Check it out!
With a competitive marketplace, there has never been a better time to be a home buyer. Many houses that were once classified as “wishful thinking” are now on the high end of affordability. Should a buyer stretch their budget and sacrifice everything just to get that dream home? Read the rest…
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. 
