Ready to buy? Then here’s what documentation you need to prepare so a mortgage banker can let you know exactly what loan amount and purchase price you can qualify for…

Filed under: Buying, Finance, IRS, Making Home Affordable, Money-Saving, Mortgage, Mortgage Rates, Real Estate Market, VRN | No Comments »

Making sense of the Financial Regulations Bill for Buyers

Filed under: Current Events, Current Mortgage Rates, Finance, Making Home Affordable, Mortgage, Mortgage Rates, Real Estate Market, Tax Issues, VRN | No Comments »

Recently, Bank of America sent out nearly 100,000 solicitations to distressed homeowners offering them a chance at a deed-in-lieu transaction.

Filed under: Current Events, Foreclosure, Mortgage, Real Estate Market, Short Sale, VRN | No Comments »

Trulia.com and RealtyTrac recently surveyed U.S. adults to get some insight into what people *think* is involved with buying a foreclosure. Here are the Top 10 Myths that came up, and the facts to set the record straight…

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Nearly two years later lenders are much savvier about selling bank-owned properties, and their newfound know-how is grounded in the basics of supply and demand, which are both heavily impacted by foreclosures in the 2010 marketplace. Sales of properties in some stage of foreclosure accounted for one-third of all sales in the first three months of the year, according to Rea

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The Fed reiterated its expectation that the benchmark fed
funds rate would remain “exceptionally low,” as it has since
December 2008, for “an extended period,” despite growing
concerns among policy makers that the stance was too
constraining.

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Is it time to rush out and buy a house before mortgage rates go up? As the Federal Reserve winds down its intervention in the mortgage market, rates on home loans are generally expected to rise at least modestly during the rest of this year from today’s unusually low levels. Some analysts believe mortgage rates [...]

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Important advice to anyone planning to contact their lender directly for a loan modification: The key here is to be tenacious. These lenders and servicers (lenders) are large with hundreds, and even thousands, of employees. Whenever you call your lender, you should plan on being on the phone for a long time (figure an hour [...]

Filed under: Foreclosure, Investor Words, Mortgage, Real Estate Market, VRN | No Comments »