CNN Money reports that the real estate market finally looks normal again. "This rapid appreciation in prices has caused the inventory of homes on the market to shrink, as prospective sellers are … [Read more...]
Heirs of Reverse Mortgage Holders May Suffer
The Boston Globe reports that heirs of reverse mortgage holders could suffer, since reverse mortgage companies are threatening heirs with foreclosure unless they pay the mortgages in full. Read the … [Read more...]
Upcoming Housing Boom: Older Adults Planning Home Purchases
The Journal News reports that a recently released realtor survey shows that older adults are planning housing moves for their "golden" years. Read The Journal News article: Baby boomers ignite the … [Read more...]
Today’s Tax Return Can Affect Tomorrow’s Mortgage
Tax returns are used in the lending process. So, having your tax return properly filled out and submitted to the IRS is important, if you plan to purchase a home or refinance in the next few … [Read more...]
Housing Recovery Expected to Press On
Fannie Mae released its February 2014 National Housing Survey Results, and expects the housing recovery to continue. Fannie Mae said in a recent article titled, Housing Recovery Expected to Press … [Read more...]
Mortgage Rates Expected to Rise in 2014
Mortgage Rates are expected to rise to above 5% in 2014, and then increase to 5.5% by the end of 2015. In an article by The Motley Fool, predictions are outlined for mortgage rates to rise in … [Read more...]
FHA Allows Borrowers to Wrap the Cost of Repairs and Improvements into a Single Mortgage
Fox Business reports this week that an FHA "Section 203(k) loan allows borrowers to wrap the cost of repairs and improvements into a single mortgage." Homeowners who buy an older home or … [Read more...]
40-50% of Borrowers Have Not Refinanced
Li-Ning Huang, Senior Manager of Fannie Mae's Business Strategy Economic & Strategic Research says that 40-50% of Borrowers Have Not Refinanced. Despite potentially significant savings, many … [Read more...]
Rising mortgage rates and falling affordability have spurred interest in ARMs
Orawin T. Velz, Director of Economic and Strategic Research with Fannie Mae, says "rising mortgage rates and falling affordability have spurred interest in ARMs." The reason for this shift is that … [Read more...]
How Are My Tax Returns Used in the Mortgage Lending Process?
Since we are once again at that time of year when we will be preparing our tax returns, I wanted to take the opportunity to share some information on how important tax returns can be in the lending … [Read more...]
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