SEARCH DICKSON
A A

Tag Archive | "Mortgage"

Where have all the defaults gone?

Thursday, December 22, 2011

0 Comments

As you may know Assembly Bill 284 took affect on 10/1/2011 and requires that lenders have proof of ownership prior to filing a Notice of Default on delinquent mortgages in Nevada. This legislation intended to put an end to the nasty “robo-signing” issue. Well it certainly has done that and then some. We’re nearly three [...]

Short Sale Misconception – Must Be Late On Payments To Do A Short Sale

Wednesday, February 23, 2011

0 Comments

A very common misconception in the short sale world is that you must be behind on your payments to be considered for a short sale.  This isn’t necessarily the case as I have assisted homeowners with short sales that were current on their payments.  The key factor is are you facing a financial difficulty.  If [...]

Good News for Home Buyers

Wednesday, February 2, 2011

0 Comments

Good news for home buyers – particularly those without a lot of down payment cash on hand.  Wells Fargo and Quicken, two of the largest FHA-approved lenders, have backed off their “overlay” requirements on FICO scores of potential home buyers. Lender overlays are qualifications that have been more stringent than FHA’s own requirements – something [...]

Digging yourself out of a mortgage mess

Monday, November 2, 2009

0 Comments

A good article for the Wall Street Journal. Digging yourself out of a mortgage mess.

Foreclosure vs REO

Friday, October 16, 2009

0 Comments

An REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction (also known as a Trustee’s Sale). Trustee Sales (often an auctions held on the courthouse steps) begin with a minimum bid that includes the loan balance, any accrued interest, plus attorney’s fees and any costs [...]

How Are Buyers Paying For Homes in Sparks?

Wednesday, May 13, 2009

1 Comment

Word on the street is that home mortgages are hard to get and that banks aren’t lending.  Certainly lending criteria has gotten more strict, but banks are lending. In Sparks/Spanish Springs since January 1, 2009 here is how buyers purchased their homes: Cash 17.04% Conventional Loans 34.92% FHA 41.99% VA 5.19% Miscellaneous .41% Owner Financing .41 [...]

FHA Appraisals – What Buyers Should Know

Tuesday, April 7, 2009

3 Comments

Beginning April 1, 2009 FHA (Federal Housing Administration) has added to its appraisal guidelines.  With 67% of homes purchased in the Reno-Sparks area in the first quarter of 2009 utilizing FHA financing, there are some key things buyers should know about these changes. FHA appraisers are required to include a Market Conditions Addendum stating whether [...]

‘Making Home Affordable” (MHA) – To Help 9 Million Refinance or Modify

Thursday, March 12, 2009

0 Comments

The Making Home Affordable Plan is part of President Obama’s plan and is projected to help up to 9 million families restructure or refinance their mortgages to avoid foreclosure.  2 of the Key Components: Refinancing for up to 5 million families unable to refi because of falling home values. $75 billion in incentives to loan [...]

IN THE MONEY

Monday, December 15, 2008

0 Comments

What a great time to be in the mortgage business! Are you surprised? There has been a great deal of moaning and groaning by the media about mortgage companies closing, the liquidity crisis, credit standards tightening and property values falling. What does it all mean? How do you, as a seller or as a buyer, [...]

In The Money

Saturday, May 31, 2008

0 Comments

If you’ve served in the United States Armed Forces, you may qualify for a Veterans Administration Loan, commonly called a VA loan. It’s a fabulous way to finance a home, especially your first home, because you can still get 100% financing – no down payment is required! Although the VA does charge a funding fee, [...]