I’ve been working with some clients over the last several weeks on finding a home to replace the one I helped them sell recently. We’ve spent considerable time working with multiple lenders to find the one they like best based on the calculated payment and (very importantly) the closing costs. The lender doesn’t have control of lots [...]
Posts Tagged ‘mortgages’
Shopping Mortgage Lenders
Posted in Finance, Real Estate, tagged lenders, mortgages on March 20, 2009 | Leave a Comment »
Short Sale? What’s a Short Sale?
Posted in Finance, General Real Estate Market, tagged foreclosure, mortgages, short sale on March 7, 2009 | Leave a Comment »
Following up on my post about buying bank owned property, you may be reading about people trying to do short sales. A short sale is sort of a half-step prior to a property being foreclosed and then in most cases sold by the lender that had the mortgage. Selling short means that the lender is [...]
Finding Out About Home Financing
Posted in Finance, General Real Estate Market, tagged lenders, mortgages, pre-approval on February 26, 2009 | Leave a Comment »
In working with several buyers recently, some of them first time buyers, the value of a basic piece of homebuying advice keeps proving itself. That advice is for buyers to put as one of their first steps the need to talk to one or more lenders in order to find out how they stand in [...]
Any Interest in Interest Rates?
Posted in Finance, General Real Estate Market, Real Estate, tagged Home Buyers, mortgage rates, mortgages on January 27, 2009 | Leave a Comment »
Our CENTURY 21 Mortgage representative, Kim Peschock, is sending me weekly updates of their mortgage rates. That’s one way we stay informed of the mortgage market. Her summary received today shows that rates have edged up a bit from last week. They’re still outstanding at just under 5% for a 30 year fixed mortgage for [...]
Lenders!!! ARRRGGGHHH!
Posted in Finance, Real Estate, tagged mortgages on December 30, 2008 | Leave a Comment »
Not long ago, the lending business was very slow, due to the lower number of purchase contracts that were being processed. As a result, they reduced their loan processing staff and hours of operation to save costs. Now that the interest rates are dropping due to various forms of government intervention, the number of loan [...]
Interesting Interest
Posted in Finance, General Real Estate Market, Real Estate, tagged interest rates, mortgages, refinance on December 17, 2008 | Leave a Comment »
Things are bouncing around again in the word of banking and interest rates. I’ve talked with a couple of our lenders today, and they are excited about drops in the mortgage rates and are getting more applications. We know that the Fed cut its overnight rate to banks down to 0.25% and below and said [...]
Great Timing!
Posted in Finance, Mooresville, Real Estate, tagged Home Buyers, Mooresville, mortgages on December 5, 2008 | 2 Comments »
I’ve been working with a young couple who are buying a home in Mooresville due to the husband’s moving here for a new job (thanks, Lowe’s!). Over several weeks we looked at many houses and finally found one that was a great fit. It is a foreclosure in a great neighborhood. Negotiation took about three [...]
Mortgage Applications Up- Hurray!
Posted in Finance, Real Estate, tagged Finance, Home Buyers, mortgages, refinance on December 3, 2008 | 1 Comment »
Kim Peschock, our local CENTURY 21 Mortgage rep called my attention to an article at Bloomberg (financial news) that says applications for new and refinance mortgages have increased dramatically. It said in part, “Mortgage applications in the U.S. surged by a record last week as lending rates plunged after the Federal Reserve pledged to buy [...]
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