Whether local residents are looking for a home equity line of credit, a refi, or a new mortgage, when it comes to getting a loan, everyone knows that it’s the credit score that ultimately determines the outcome. Yet when it comes to a working knowledge of what major factors affect your score, a new survey …
Any home carrying a price tag of $1 million or more generally falls into the ‘luxury property’ category. To finance it, a luxury loan is called for. Since financing luxury homes in town can be more challenging than financing run-of-the-mill properties, many prospective home owners at the luxury level seek the services of a specialist …
Some of the area’s wealthiest buyers may be getting a mortgage without putting a single dollar down. And we aren’t talking about single-bedroom fixer-uppers, either!
It’s called 100% financing, and, at first blush, it looks suspiciously like a version of the strategy that sent the economy reeling in 2008. But lenders feel that well-heeled local residents …
One of the key factors serious buyers eye when appraising foreclosed homes for sale in the local market is condition – the shape those properties have been left in. The Federal Housing Administration has weighed in with a program that can materially affect how that condition – good or bad – will finally affect the …
The mortgage industry has changed substantially since 2007, when the opportunities for “house flipping” as an investment strategy were widespread. Today, for investors seeking to take advantage of short sales and foreclosures in our area, those changes are especially meaningful. One of the aftereffects of the subprime mortgage meltdown is the way banks now treat …
Check it out, Congressman Gary Miller visited our Redlands office on Friday. Powerful stuff folks. He has his finger on the pulse of the Real Estate Industry. Watch this video!
There was an interesting article over on MSNBC where they discussed the new mortgage relief plans that are in the works to try and stem the tide of foreclosures.
As the clock ticks down on year-long negotiations on a sweeping mortgage relief settlement, the architects of the joint state-federal plan believe it would be better for homeowners to get …
Mortgage servicers are on track to modify far fewer loans in 2011 than the previous year, according to the most recent data provided by the Hope Now alliance formed by these firms and others in the industry.
Through November, servicers modified roughly 969,000 mortgages through both private initiatives and the administration’s flagship Home Affordable Modification Program. The 639,000 …
Recently the National Association of Realtors (NAR) released some sales reports which illustrated a trending increase of cancelled contracts. Their report suggests that the primary cause of these things were related to rejection by banks of buyers mortgage loan applications, or problems with appraised values coming in lower than expected. NAR’s report shows 18% of …