Sharp increase in demand for mortgages - Inman (Sept 11th 2009)

30-year fixed-rate near 5% again Applications for mortgages surged 17 percent last week as lower interest rates spurred demand for both refinance and purchase loans, the Mortgage Bankers Association said in releasing the results of its Weekly Mortgage Read More>>>

First-Time Home Buyer Credit
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ID Theft: What It's All About?

In the course of a busy day, you may write a check at the grocery store, charge tickets to a ball game, rent a car, mail your tax returns, change service providers for your cell phone, or apply for a credit card. In each transaction, you reveal bits of personal information, like your bank and credit card account numbers; your income; your Social Security number (SSN); or your name, address, and phone numbers - a goldmine of information for an identity thief. Read More>>>

What is a Short Sale and Foreclosures?

A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure auction or bankruptcy. Instead of buying from a seller, you are purchasing the property directly from the lender for a discount. For example: A homeowner, who is facing foreclosure, has an existing first mortgage of $300,000. You write an offer to the lender for $220,000, which is accepted as full payment for the loan. This is a short sale. Why are they willing to take such a discount? Several reasons. First of all, banks do not like excess inventory and bad loans on their books; therefore, if they see an opportunity where they can sell the property without a huge loss, they will do it .Read More>>>

The 10 Dumbest Mistakes Smart People Make When Buying or Selling A Home – and How to Avoid Them.

Mistake #1 Not knowing how much they can afford before they make an offer. Get pre-approved by a Lender so you know how much you can afford.

Mistake #2 Not realizing whom the real estate agent represents. Most people think that the agent they’re working with is working for them. Read More>>>