Real Estate Appraisal Nightmares
Gary’s Note: There have recently been issues with real estate deals not appraising at their contracted price. The article below, provided by Marc Jacobs of A&N Mortgage, explains some of the...
View ArticleNew FHA Condo Approval Rules Delayed Yet Again
First it was going to be October 1, then November 2. That’s when new FHA condo approval rules were going to be implemented. Now it’s December 7. I know it’s shocking but the government just can’t seem...
View ArticleWhat’s Up With Mortgage Rates?
As the BankRate graph to the left shows, mortgage rates have been trending down quite dramatically over the last 6 months and remain near recent record lows. That shouldn’t be too surprising since the...
View ArticleMore Mortgage Rate Predictions
As a follow up to my earlier post on the direction of mortgage rates I thought I would share the gist of a post from the Calculated Risk blog that appeared earlier today on the very same subject –...
View ArticleWill Short Sales Become Short?
Seriously though, the government has again ramped up their efforts to help the millions of Americans who are upside down in their mortgage and need to sell for reasons of financial hardship. Yet...
View ArticleThe Good And Bad Of Recent FHA Changes
FHA has been a popular financing option for condos because of the tightening mortgage guidelines on conventional condo financing and because of the FHA’s low down payment requirement. Currently...
View ArticleWill Rising Interest Rates Kill The Real Estate Market?
Understanding the relationship between interest rates and home prices is particularly important now because most people believe that interest rates are heading up in the not-to-distant future. One...
View ArticleThe Folly Of Timing The Housing Market
It’s hard enough to time investments. Finance theory says it’s impossible and there is plenty of evidence to prove that it can’t be done. So it should come as no surprise that timing a home purchase...
View ArticleWhat It Takes To Get A Mortgage: Required Documentation
Buyers often wonder what bureaucratic torture they are going to be subjected to in order to obtain a mortgage. Therefore, I asked Russ Martin of Perl Mortgage to explain the required documentation for...
View ArticleUsing FHA 203k Loans To Rehab Your Short Sale or Foreclosure
There are a few common ways that I have seen an FHA 203k loan used. Predominantly the clients I’ve worked with use this type of loan to purchase a property that either needs some general rehabbing...
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