Tag Archive: loans

Getting a Loan as the Landscape Shifts

January presented us with major changes to mortgage lending rules. These new guidelines aim to curb some of the excesses that occurred during the sub-prime years—hopefully resulting in a lower risk of default and foreclosure by borrowers and a healthier real estate climate for everyone.
QM: “Qualified Mortgage”
This all came about as one offshoot of the …

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Credit Score Knowledge Eases Getting a Loan

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 …

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Luxury Homes Need Luxury Financing

luxury

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 …

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Buying a Home … With a $0 Down Payment?

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 …

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Young Adults Face Rising Need for Co-Signers

You are a newlywed couple in your late 20’s with decent jobs, respectable income, and reasonable credit. You’ve started your search to buy a home in town, but when you walk into the bank to pre-qualify for a loan, to your surprise, you find out… NOT!
You’re not alone. The Federal Reserve studied the problem, and …

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Local Foreclosed Homes Benefit from Loan Program

 
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 …

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Sophisticated Local Foreclosure Funding Strategies

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 …

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Congressman Gary Miller’s Visit!

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!
 

 

Mortgage relief: Partial solution better than none?

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 …

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Mortgage modifications fall short of previous year

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 …

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