Uncategorized Articles

More people are using cash to purchase homes. Data from the National Association of Realtors (NAR) show that 26% of home sales in January were all-cash purchases, compared with 18% a year earlier, according to USA Today. Although some buyers are paying cash for homes to live in, many of these transactions are attributed to investors getting back into the real estate market. The NAR reported that 17% of home purchases in January were made by investors, up from 15% in December and 12% in Novem.... Read More...

Getting a mortgage doesn't have to be difficult... well, okay - maybe it is not as easy as it was a few years ago to get a loan. But there are still things that you can do to make it as easy as possible. Here are some simple things that you can do to make it easier to get financing: Communicate Be sure to speak often with your loan officer when getting a mortgage. It is important to tell your loan officer everything about your financial picture -- don't make him guess about where you are financi.... Read More...

Still looking for help with your mortgage loan? The government has extended its Home Affordable Refinance Program for another year. The refinance program was set to expire in June, but the Obama administration hopes that a larger chunk of distressed homeowners can be helped. Originally the government had hoped that about 5 million homeowners would be helped by the program. So far about 200,000 have gotten help with troubled mortgage loans. Who knows if the new timetable will result.... Read More...

The percentage of mortgage loans that were delinquent at the end of the fourth quarter 2009 fell to a seasonally adjusted rate of 9.47% from 9.64% the previous quarter, according to the Mortgage Bankers Association (MBA). The data seem to indicate that fewer homeowners are getting behind on mortgage loan payments. Included in the figure are loans that are at least one payment past due, but not loans in the foreclosure process. There were 4.58% mortgage loans in the foreclosure process at .... Read More...

Drew Myers of Zillow and Geek Estate recently asked me if I'd be interested in hosting the Carnival of Real Estate. Naturally I was excited that he thought of our site and eager to participate since we've been active contributors for a while now but have not yet hosted. Without further adieu, here's the submissions for this week's Carnival of Real Estate. Julie Broad presents Networking Your Way to Real Estate Investing Success « posted at Life as Real Estate Investors. Bob Schwartz, C.... Read More...

Reverse mortgage counselors have some new guidelines for qualifying to work with homeowners. The Federal Housing Administration (FHA) guidelines come after complaints that some housing counselors aren't qualified to discuss reverse loans. Seniors who want to borrow reverse mortgages must meet with a counselor to discuss their options. Reverse home loans allow people 62 and older to borrow some of their home equity. The amount of a reverse mortgage loan depends upon the borrower's age a.... Read More...

JPMorgan Chase says it plans to hire 1,200 mortgage loan officers by the end of next year. The additions will increase the bank's sales force by 60%, the bank said in a release. The additional staff will be located in 23 states and will help the bank go after new mortgage business and refinances. Does that mean that the housing market is finally picking up in a significant way? You probably don't want to get too excited yet. But the housing market is showing some signs of lif.... Read More...

One of the most common questions that I get from people regarding the loan process is "how long will it take to get my loan closed?" My usual answer is "around 30 days, but in today's world it could be slightly longer". And now I know that I am slightly slower than the next guy. How long does it take to get a FHA loan closed? Ten Days. According to the loan officers at Academy: Ten Day Close Guarantee Are you tired of waiting on the bank to move into your house? More and more, banks and b.... Read More...