Posts Tagged ‘loans’
FHA Annual Mortgage Insurance Premiums Reduced
By Elvin J. Wesley, President and Broker of Ranch and Coast Mortgage Group What a great way to start the week and 2017!!! Monday morning HUD announced that it had achieved the balance of its statutory operational goals and as a result of that it requires a reduction of the Annual MIP charged. This exciting…
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Buying After a Past Short Sale? You May Soon be Out of Luck
If you are thinking of buying a home with a conventional loan, and you had a short sale, deed-in-lieu of foreclosure or mortgage loan write-off less than 4 years ago, you better be aware of some changes that will take effect in August (yes, next month). What this may mean is that you have to…
Read MoreBeware the Dangers of Reverse Mortgages
Reverse mortgages have been a popular retirement option amongst those over the age of 62. They allow homeowners to convert the equity in their homes to cash, so they can live with no mortgage payments or other debt, fund home improvements and repairs, and have cash reserves on hand. The home is like a bank…
Read MoreWill the Government Shut Down Affect the Real Estate Market?
Many people are concerned that the government shut down that took effect at midnight will affect various markets and industries in this country. Government-run parks and industries are shut down, over 800,000 people are on furlough, there will be an interruption in many services. But will the real estate market be affected? Loan problems: if…
Read MoreCan Shorter Term Loans Save You Money?
Thinking of Buying Property? You’d Better Hurry!
If you have been contemplating purchasing a home, whether it be a starter home, your dream home, investment property, or any other type of property, you may want to get serious now before it’s too late. Here are some reasons why it’s better to jump off that fence now rather than wait: 1. It is…
Read MoreCan New Short Sale Program Help YOU?
Short sales have become part of the real estate landscape, and as one in four homeowners are underwater nationwide, they will likely continue to stay there for some time. Lenders have finally accepted this and have been trying to implement new programs to make them a better choice than foreclosures. For the most part, they…
Read MoreA History of Interest Rates
A New Problem Surfaces in Getting a Loan
Just when you think you’ve heard it all, something happens that makes you realize you should never close your mind to how far out of left field the ball might fly (a little baseball analogy for those sports fans to appreciate). It seems that is definitely the case with banks, and wait until you hear…
Read MoreConforming Loan Limits to Get the Ax
On Friday the House of Representatives failed to extend the current conforming loan limits, which are set to expire on September 30. This was a big blow to the real estate market and to buyers and sellers. But does this mean the fight for extension is over? Let’s take a look at the situation so…
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