The Federal Reserve’s program to buy Mortgage Backed Securities (MBS) will end on March 31, 2010.
Many analysts believe this will cause mortgage interest rates to increase.
While there are many different opinions on where mortgage rates will increase to, the general consensus is 5.5% to 6%.
For more information, please review Paul Smalera’s post in the CBS […]
Entries Tagged as 'Credit Information'
How high will interest rates go?
March 8th, 2010 · No Comments
Tags: Credit Information · Real Estate Finance
What do the dollar amounts on Realty Trac and Trulia for foreclosures mean?
March 2nd, 2010 · No Comments
There are two ways to buy foreclosures:
1. Go to trustee foreclosure sale on the “courthouse steps” with cash for any offer you may make.
2. Wait until bank forecloses takes title, and lists property for sale on mls (REO).
#1 is are not for inexperienced investors (not saying you are )
#2 is a good way to […]
Tags: REO · Foreclosures · Credit Information · New listings
More information on Short Sales
May 3rd, 2009 · No Comments
Chicago Title has put together a good summary about some of the issues involved with a short sale.
A short sale generally will require a 2 year wait prior to purchasing another home.
Howver if you are not more than 60 days on your loan payment, this time period may be shorter.
Tags: Foreclosures · Short Sales · Credit Information · Sub-Prime Mortgage Issue
A short sale does not mean you do not owe the lender any more money
April 30th, 2009 · No Comments
Many homeowners believe that if their lender agrees to a short sale, they have no further obligation to the lender.
This is not true!
As the Wall Street Journal reports today, many lenders are being more proactive about going after homeowners for the remaining unpaid balance on loan. For example, if the mortgage balance is $400,000 and the […]
Tags: Foreclosures · Short Sales · Credit Information · Real Estate Finance
Do any of these government mortgage relief programs work?
April 1st, 2009 · 1 Comment
I have generally been pretty skeptical about whether any of these much talk-about government programs will actually help any homeowners? Are these programs just more of the “promise a lot, deliver a little” that we seem to get out of Washington DC the past 10 years or will they actually help people.
I like to stay […]
Tags: Short Sales · Foreclosures · First-time home buyers · Pending Legislation · Credit Information · Sub-Prime Mortgage Issue · Helpful Sites · Real Estate Finance
Do you need help selling your home with a short sale?
March 27th, 2009 · No Comments
I have recently sold a short sale in Redwood City representing the buyer and another short sale in East Palo Alto representing the seller.
Do you need help evaluating your options? I am glad to help. I have undergone short sale specific traing and have the process and procedure down. It is still time consuming but […]
Tags: Foreclosures · Short Sales · Credit Information · Helpful Sites · Sub-Prime Mortgage Issue
Obama Home Mortgage Rescue Plan part 6
March 23rd, 2009 · No Comments
One of the things President Obama promised was greater use of the internet to make information about government programs and activites more accessible to the general public.
The MakingHomeAffordable website is now up and runnning.
This is a very useful site which will help homeowners determine if they are eligible for either the refinance plan or the […]
Tags: Short Sales · Foreclosures · Pending Legislation · Credit Information · Sub-Prime Mortgage Issue · Helpful Sites · Real Estate Finance
Full details on CA Franchise Tax Board $10K credit for NEW home purchase
March 6th, 2009 · 1 Comment
Here is all the info you want about this credit directly from the proverbial horse’s mouth - The California State Franchise Tax Board including how much of the money is left and how many applications they have received - 173 to date!
http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml
Tags: Pending Legislation · Credit Information · Helpful Sites · Inspiration
Obama Home Mortgage Rescue Plan part 5
March 4th, 2009 · No Comments
Obama’s plan contains 2 main parts:
1. Refinance options for loans that are up to 105% of the current market value of the home.
2. Loan modifcation programs for people where option #1 does not apply and they are having a hard time making the monthly payments.
Obama has named the plan #1 - Making Homes Affordable.
Katie Curmutte, […]
Tags: Short Sales · Foreclosures · Pending Legislation · Credit Information · Sub-Prime Mortgage Issue · Helpful Sites · Real Estate Finance
More info on new California $10,000 tax credit
March 2nd, 2009 · 1 Comment
In an earlier post, i wrote about a recently passed California State Franchise Tax Board $10,000 credit for the purchase of a NEW principal residence. This credit is available to all purchasers of a NEW house or condominium.
Kappy Mann from beautiful Truckee Lake Tahoe area (where I will be going for a week of skiing […]
Tags: Pending Legislation · Credit Information · Helpful Sites · Real Estate Finance · Inspiration