Tag: Trust One Mortgage
Mortgage Rates Continue to Inch Up
For the second straight week, mortgage rates were on the rise, but still remain overall low, reports Freddie Mac in its weekly mortgage market survey. While interest rates for the 30-year fixed-rate still stand below 5 percent, rates inched up slightly this week averaging 4.86 percent. Last week, rates averaged 4.81 percent. Last year at [...]
REO Homes Get Cleaned Up
With large numbers of foreclosed properties crowding the inventories of many mortgage lenders, the Chicago Tribune reports that despite their concerns, many banks are putting money into their properties to help them sell. The paper says that by putting up some money for renovations, lenders can turn many of their properties from “uninhabitable” into livable [...]
Adjustable Rate Mortgages Return to Popularity
Adjustable Rate Mortgages Return to Popularity despite the fact that some borrowers still associate them with a stigma from the global financial crisis, adjustable-rate loans have picked up a slowly increasing share of the market in recent months, several lenders told the New York Times. The paper says many lenders have turned adjustable-rate loans into [...]
Field Poll: Quality of life plunges in California
Californians are bummed out. The Golden State’s residents rated their quality of life at its lowest mark in almost 20 years, citing the economic downturn and stagnant personal finances, according to a joint UC Berkeley and Field Poll. “Residents are reconsidering the image of the Golden State and showing more ambivalence toward it,” said Jack [...]
Congratulations, You’ve Been Approved!
Congratulations, You’ve Been Approved! The four words every Home buyer who has applied for a home loan loves to hear when they’re shopping for their new home. Unfortunately for everyone involved in a real estate transaction the approval might not be worth the paper it was written on! What does a loan approval mean? Well, [...]
Is Your REALTOR® Marketing Your Home Properly
Is Your REALTOR® Marketing Your Home Properly, if you have a home for sale in Palm Springs (or anywhere for that matter), you should check to make sure that your listing in the MLS is both accurate and complete. A review of the Palm Springs Board of REALTORS® Multiple Listing Service showed that many “tricks [...]
Sloppy Lending Practice Results in Free Iowa Home
Sloppy Lending Practice Results in Free Iowa Home, Talk about sticking one to the bank! Matt and Jamie Danielson own their $278,000 Ankeny home outright, and paid almost nothing for it. Sloppy lending practice, hasty home-loan approval and a 123-year-old law that requires mortgages be signed by both spouses helped the couple fight foreclosure all [...]
On-Line Interest Rates, Don’t Be Fooled!
On-Line Interest Rates, Don’t Be Fooled Many consumers turn to sites that publish On-Line Interest Rates, Don’t be Fooled by their Tom Foolery and deceptive practices! Recently @ERate began following me on Twitter, they’re profile reads in part: “…Providing Twitter Rate Alerts as Mortgage Rates adjust and Relevant Mortgage News and other Financial News” I [...]
FHA Mortgage Insurance Premium Increases
FHA Mortgage Insurance Premium Increases If you’re currently looking to purchase your home (house, condo, townhome) with an FHA Loan, the cost of that loan will be increasing soon. Effective April 18, 2011, the FHA Mortgage Insurance Premium Increases 0.25% for all loans with case numbers issued on or after April 18th. The net effect [...]
Beware of New Mortgage Scam
Beware of New Mortgage Scam Beware of the new mortgage scam I’ve heard about recently. It happened in Nevada, but could happen anywhere. I’m surprised I haven’t heard of this mortgage scam before, it’s pretty slick! The new mortgage scam plays off the sale of mortgage loans. Banks buy and sell residential mortgages all the [...]
Does per diem interest affect refinance?
Dear Ed, I’m considering refinancing into a 15-year fixed-rate loan. I currently have a 30-year loan that was refinanced in 2005 for $120,000 at a rate of 5.375 percent. I’ve been making additional principal payments every month and the current balance is $95,000. My lender said it will refinance my loan into a 15-year mortgage [...]
Mortgage Points
When people want to find out how much their mortgages cost, lenders often give them quotes that include both loan rates and points. What exactly is a point? A point is a fee equal to 1 percent of the loan amount. A 30-year, $150,000 mortgage might have a rate of 7 percent but come with [...]
Mortgage Closing Date: Does it Matter?
On a purchase transaction, there is no financial advantage in closing on any day of the month, as compared to any other day. On a refinance, it is a good idea not to close on a Friday because it will increase the number of days in which you pay interest on both loans. And if [...]
For Sale: 351 Gran Via, Palm Desert – Monterey Country Club
351 Gran Via, Palm Desert, CA Bed/Bath: 2 br, 2.00 ba Property Type: Condo Square Footage: 1,800 square feet Property Subtype: Condo Attached Asking: $379,000 Cross Street: Gran Via & Monterey MLS: #21422784 Map: click here to view map See Picture Gallery Below Virtual Tour: click here to view Location, Location !!!This 300 plan,a [...]
Five Tax Tips, Tricks and Traps for Homeowners
Ask a roomful of homeowners what’s so great about owning versus renting, and you’ll hear them holler in unison: “the tax deductions!” And it’s true – homeowners who itemize their taxes are able to deduct 100% of their mortgage interest and property taxes from their income tax returns. That means that if you’re in a 28% tax bracket, Uncle Sam [...]
Coachella Valley Home Prices Have Fallen From This Time Last Year
Tepid demand, tight credit and bargain hunters seeking distressed properties have pushed down home prices across the valley compared to January 2010, real estate analysts said. The valley’s median sale price fell 15.7 percent to $181,250 in January compared to the same month a year earlier, San Diego-based DataQuick Information Systems reported. Price declines in [...]
When is the best time to buy a home?
Home Prices are back down where they should be! It is possible to buy a home and pay roughly the same per month as you would for rent on a similar house taking in account the tax advantages of deductible mortgage interest.** I could not afford to buy a home in 2001 at $410,000. I [...]
