While there’s no question the real estate market is depressed across nearly every market in the United States, there are plenty of areas where home sales are churning along and sellers may be able to sell their homes quickly. But quite often, sellers misjudge certain aspects of the selling process, or simply fail to make [...]
Archive of posts tagged MSNBC
New Foreclosure Crisis Could Give Some Borrowers Leverage in Negotiating Lower Payments Via Modifications
Revelations that some lenders may have used “robo-signers” and possibly committed other acts of fraud related to due process of foreclosure may give some borrowers leverage in trying to negotiate options to save their homes, including loan modifications. It’s important to note that foreclosure in Texas is non-judicial, which means it is essentially a private [...]
The Pitfalls of Being Underwater on a Mortgage
Many homeowners who purchased a home over the last few years didn’t worry about being underwater on their mortgage when they purchased. But now, many are feeling the effects. Simply being able to afford the monthly payment doesn’t always mean there are not other consequences which affect a homeowners ability to liquidate their property…such as [...]
Low Rates Aren’t Enough to Keep Most Banks and Brokers Busy These Days
Despite the record low interest rates, many mortgage brokers and banks are not as busy as they would normally be in this type of interest rate environment. Low rates have certainly helped to keep the costs of home ownership low, but many home owners that would benefit from refinancing either already have done so in [...]
Was The Homebuyer Tax Credit Extended?
Recently, Congress passed an extension of the homebuyer tax credit deadline…but it’s not what many people think. This is perhaps the most misunderstood law that’s passed in some time. The most recent extension and expansion of the homebuyer tax credit called for a contract deadline of April 30, 2010 and a closing deadline of June [...]
Is Refinancing Your Dallas Mortgage the Best Idea?
Unless you live under a rock, you’ve probably heard that mortgage rates are at or below 50 year record lows. However tempting the idea of lowering your interest rate to save a few bucks might be, the advantages to refinancing might not always be in your best interests. For example, despite the fact that most [...]
USDA Loan Program Almost Out of Funds
The USDA loan program, a program that’s part of the US Department of Agriculture that gurantees loans for buyers who purchase homes in “rural” areas and requires no down payment, is nearly out of funds. Demand for this program has increased substantially since the elimination of subprime, seller funded down payment assistance programs on FHA [...]
New HUD-1 Settlement Statement and Good Faith Estimates Are Confusing For Many Home Buyers and Sellers
ON January 1, 2010, several new regulations took effect that changed many of the forms that lenders are required to provide to borrowers. More specifically, the old good faith estimate was replaced by a new, supposedly improved, good faith estimate. Although there are some parts of the new good faith form that have certainly made [...]
Surge in House Flippers May Be A Good Sign For The Real Estate Market
Here’s an article from MSNBC about the resurgence in real estate “flippers”, who are basically investors whose goal is to purchase a home, perform needed repairs and then quickly sell it to make a profit. This may be a good sign for some of the hardest hit areas like Phoenix and parts of California that [...]
Homeowners Protesting Their Property Taxes in Record Numbers
With the decline of real estate values across many areas of the country, homeowners are now challenging the assessed value of their homes with the tax man in record numbers. The time for Dallas County homeowners to protest their taxes is coming soon, so click the link below to find out about that procedure. Original [...]
