Lenders Offering Cash Incentives for Short Sales
If you are a homeowner and you owe more on your mortgage than what your home is worth in today’s housing market, you can receive around $2,000 to upwards of $35,000 to list your home as a Short Sale. Lenders are luring the homeowners who are upside down on their mortgage to Short Sales rather than Foreclosure. Continue Reading
HARP 2.0 Will be Available to Most Lenders by March 15.
Relief may be on it’s way for many homeowners who homes are underwater – most lenders will have the program up and running by March 15th.
If you’re not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through Making Home Affordable’s “Home Affordable Refinance Program (HARP)”. Continue Reading
Is a Short Sale Right For You?
Have you fallen behind on your mortgage payments, and don’t know what to do? Watch this brief video, and find out what a Short Sale is, and why it may be the solution you have been searching for. Continue Reading
Bank Repossessions Drop To A 44-Month Low
According to foreclosure-tracker RealtyTrac, November’s foreclosure filings fell 3 percent as compared to October, and 14 percent from November 2010. Continue Reading
Have Mortgage Rates Bottomed Out?
Mortgage rates have reached bottom. Or, so it seems.
According to Freddie Mac’s Primary Mortgage Market Survey, the average 30-year fixed rate mortgage is 4.00 percent nationwide — roughly the same rate as it’s been for 5 weeks.
During that times, rates have ranged between 3.97 and 4.02 percent with an accompanying 0.7 discount points, plus “typical” closing costs. Closing costs vary by state and 1 discount point is equal to 1 percent of your loan size. Continue Reading
Will “The Fed” introduce a new stimulus?
There was little in November’s Fed Minutes to surprise Wall Street, however, the Fed did discuss the possibility of new market stimulus, a topic Wall Street expects the FOMC to address next week at its last scheduled meeting of 2011.
Should the Fed introduce new market stimulus next week, and should it arrive in the form of additional mortgage bond purchases, expect for mortgage rates to fall across Arizona and nationwide. If the Fed declines new stimulus, mortgage rates should rise.
The FOMC meets Tuesday, December 13, 2012. Continue Reading
