Home Buying 101 Archive
The number of consumers across the country who filed applications for new home loans recently fell considerably, as fewer borrowers sought to refinance their existing mortgages. Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggests that consumers review online rate tables
to find the best rates with which to refinance a current home loan.
If you’re on the verge of losing your home, or you know someone who is, then you also know about the long, bureaucratic process involved in applying for a loan modification from a lender. The most common approach is to apply under the new Home Affordability Mortgage Program (HAMP), but lenders also accept modifications from mortgage holders because lenders really don’t want to take the house—they just want their money.
“MONEY” magazine has revealed the 2011 list of "MONEY's 100 Best Places to Live in America," highlighting small towns across the country with populations of 50,000 or less. For the annual cover-story, on sale August 19, MONEY looked for places with the optimal combination of job opportunities, fiscal strength, top-notch schools, safe streets, good healthcare, cultural and outdoor activities, and even nice weather.
In the second quarter of 2011, fixed-rate loans accounted for about 95 percent of refinance loans, based on the Freddie Mac (OTC: FMCC) Quarterly Product Transition Report released yesterday. Refinancing borrowers clearly preferred fixed-rate loans,
RISMEDIA, August 1, 2011—The remodeling market slipped under pressure from a sluggish economy according to the National Association of Home Builders' (NAHB) Remodeling Market Index (RMI), which dipped during the second quarter to 43.9 from the first quarter result of 46.5. An RMI below 50 indicates that more remodelers report ...
RISMEDIA, July 26, 2011--Recently the U.S. Department of Housing and Urban Development and NeighborWorks® America announced that the deadline for the Emergency Homeowners' Loan Program has been extended to Wednesday, July 27, 2011, in order to give homeowners at risk of foreclosure in the participating 27 states and Puerto Rico ...
RISMEDIA, July 5, 2011—With foreclosures flooding the real estate market, many property buyers and investors are hitting the auction circuit looking to capitalize on the next great deal. For those that are new to the auction block, there are a few ‘rules of thumb’ you’ll want to keep in mind before placing your bid. PropertyAuction.com provides some essential tips when looking to get in on the auction action, including:
RISMEDIA, June 30, 2011—Even with home sales and prices continuing to fall nationwide, millions of Americans will still navigate the process of buying and selling homes this summer, and for many, the sheer volume of details and decisions can be
RISMedia, June 3, 2011—When it comes to private mortgage insurance (MI), there are several myths that exist that make buyers reluctant to consider a conventional loan with MI as an option when purchasing a home. One of the more common misconceptions is that cancelling MI is a difficult—not to mention time-consuming—process.
The irony is that the majority of buyers don’t harbor those same beliefs or reservations about an FHA insured loan when, in reality, FHA coverage may be less easily cancelled, or take longer to cancel, than MI.
RISMEDIA, May 5, 2011—As the housing market continues to struggle, home buyers appear ill-prepared to take out a mortgage, answering basic questions about mortgage information wrong nearly half (46 percent) of the time, according to a Zillow® Mortgage Marketplace survey. In fact, 44 percent admitted they are not confident in their knowledge of mortgages or the mortgage process. Zillow® Mortgage Marketplace, with Ipsos, surveyed prospective home buyers, asking them to gauge their own knowledge of mortgages, and asking basic questions about mortgage facts.
RISMEDIA, May 5, 2011—Mortgage applications increased 4.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending April 29, 2011. The Market Composite Index, a measure of mortgage loan application volume,
RISMEDIA, May 3, 2011—I would first like to thank everyone for the kind words and feedback from my previous article. It’s nice to know that I am touching on some key issues in our industry and I hope that I can continue to be a good resource.
RISMEDIA, April 29, 2011—Potential homeowners who participate in pre-purchase education and counseling programs may be more likely to pay their mortgages on time, although the evidence on this point is not consistent and compelling, according to a study released today by the Mortgage Bankers Association (MBA). The study also finds that those who participate in default counseling are more likely to have their loans modified.
RISMEDIA, April 25, 2011—With home prices dropping, minimal interest rates and the cost of rental properties on the rise, now may be the time for renters to seriously consider buying a house, according to HouseSavvy, a premier real estate and relocation organization headquartered in Massachusetts.
RISMEDIA, April 13, 2011—Don’t let Washington or Wall Street stop the entrepreneurial spirit in you. We are in a period of history right now where as an entrepreneur, you want to build wealth and you can’t rely on anyone else. The real estate market is here for you and the revival is