There has been much talk recently about new refinancing options available for homeowners who are underwater. Being underwater means you owe more on your home than it is worth.
The most recent program is referred to as Home Affordable Refinance Program (HARP) 2.0. This program is open to borrowers whose mortgages are owned by either FNMA [...]

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It is the time of year when everyone feels compelled to either summarize the year that has past, make a top 10 list or even some combination of the two. We are no different.  When we decided to write this blog, we asked our Realtors what information they would include on our list. Here are [...]

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As we are all aware, qualifying for a mortgage these days is anything but easy. What if it was made even more complicated?
Recently a bill, called the Sensible Accounting to Value Energy Act, was co-sponsored by Sens. Michael Bennet (D-Colo.) and Johnny Isakson (R-Ga.). If enacted, the bill would require all government-sponsored lenders (so that [...]

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You hear a lot of reference to go back to mortgage lending requirements of 20 to 30 years ago. What does that mean exactly? Mostly this means that consumers would have to document all income, assets, employment and credit histories, as well as fit into ratio guidelines for their total housing payment and total debt [...]

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There is little question that foreclosures are a major part of the real estate market today.  One of the challenges that comes along with buying a foreclosure can be the condition of the property. If the property is damaged, neglected or just plain outdated, you may want to consider a renovation loan.  Here are some [...]

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Yesterday morning, I read an interesting and timely blog post from HSH Associates, “Economy sends mortgage rates down to new 2011 lows.” What struck me most was how on target this particular blog was about the confusion of mortgage rates and the recent downgrade of the US economy by Standard and Poors.
All of the recent [...]

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There has been much discussion around the impact of a proposed reduction in the Fannie and Freddie loan limits. Right now this is scheduled for Sept 30.  In the Carolinas, where the maximum limit for these loans is $417,000, there is nothing proposed to reduce this amount.
Instead, they propose to reduce the increase that [...]

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Starting your home search can be extremely exciting  – and nerve-wracking. You are about to embark on a great adventure. It can be easy to get caught up in all the excitement and lose track of the many different moving parts you need to keep in place. One of the most important moving parts is [...]

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Whether it’s a foreclosure, a short-sell or a home neglected by a cash-strapped owner, homes that need work are often a smart buy.

But how do you finance the fix-up on your fixer-upper?
Consider an FHA 203(k) Loan. This renovation/rehab loan program combines a traditional home mortgage with a home repair loan, giving you the flexibility to [...]

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Just imagine you have found the perfect house, started a new job and are ready to move forward with your life. Feels pretty good doesn’t it?
Now imagine that you have everything lined up except for one detail, a detail that is perhaps the most important of all. Prior to signing on the dotted line and [...]

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