Life is full of emotions, but fear can hurt the most. It is strong enough to change a whole community and way of life. And when it comes to money, it’s no different. Fear controls the pocketbook, and too often it gets in the way of financial success. There are three ways fear can grip [...]
RISMEDIA, September 28, 2010–Nearly one-third of Americans are unlikely to qualify for a mortgage because their credit scores are too low, making homeownership out of reach for many. This is according to an analysis of more than 25,000 loan quotes and purchase requests on Zillow Mortgage Marketplace during the first half of September. Borrowers with [...]
Consider a Property Conversion Rental income is a great source of cash, and can boost your borrowing power and your income. Many property owners find that once they start making rental income, they buy additional properties to boost their income; it’s that effective. When you’re looking at a single family home, you can still find [...]
Many homeowners seeking a loan modification to lower their monthly mortgage payments and avoid foreclosure continue to find the application process a complex web, often causing them to give up before their application is ever reviewed by their mortgage company. Certified housing counselors for CredAbility, a national nonprofit credit counseling and education agency, speak daily [...]
Fannie Mae announced a seller assistance incentive on Fannie Mae-owned properties listed on the company’s REO website, www.HomePath.com, and expands the initiative to offer an incentive to real estate agents and brokers. Qualified homebuyers who will be owner-occupants can receive up to 3.5 percent of the final sales price that can be used toward closing [...]
Stick to the Plan Many potential homeowners know that they want to buy a home someday, but have no real idea how that will happen. They put off their home-buying dreams for a vague future when they earn more, have a better credit rating or feel they’re in the right financial position to buy. Unfortunately, [...]
What is an FHA loan? It’s a bit of a misnomer, since Federal Housing Administration (FHA) loans are not loans at all. What they do is insure loans so that lenders can offer mortgage assistance to people who: Have fair or poor credit Have a low down payment (must have at least 3.5%) Have undergone [...]
Mortgage applications in the U.S. declined last week for a third consecutive time, hurt by a drop in purchasing and refinancing. The Mortgage Bankers Association’s index fell 1.4 percent in the week ended Sept. 17 to the lowest level in six weeks, the Washington-based group said today. Purchases decreased 3.3 percent and refinancing lost 0.9 percent. An unemployment rate [...]
Real estate brokers who have long complained about the time it takes to complete a short sale now have two U.S. congressmen in their corner who are sponsoring a bill that would require lenders to respond to consumer short sale requests within 45 days. Real estate brokers — and homeowners – have long complained about [...]
LOS ANGELES – California home sales edged up 1.8 percent from July, but were down 14.9 percent from August 2009, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. The statewide median home price also increased 1.2 percent from July and was up 8.6 percent from a year ago. “Buyers who are holding out should consider [...]
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Average Home Prices Slip in Coachella Valley
I’ve been reading a lot of information lately about our current market conditions from other REALTORS® who are claiming an increase is sales price and number of homes sold. I would scratch my head and ask where they were getting their numbers. Turns out their numbers are coming from national statistics. Real estate sales are [...]
Mortgage Debt Tax Relief Program Ending Soon
The Mortgage Debt Relief Act of 2007 the IRS would not come after you for your taxable amount if you had an upside-down unpaid principle as a result of loan modification, short sale or foreclosure depending on your tax bracket, let’s say you were $100,000 short on your mortgage you could be responsible for as [...]
Is your REALTOR® connected? No, I don’t mean in the MobWives fashion, if that’s what you thought, you’re watching too much reality TV. As an active Palm Springs REALTOR® I believe it’s important to take advantage of the technology available to today’s real estate professional. Everything that required an agent to go back to the [...]
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