For first-time home buyers, all the fees and extra costs beyond what they are paying for their new house may come as a shock. So it's best to know about them upfront to avoid being caught off guard. One of the most common questions asked is, "Do I pay the realtor?" And the answer … [Read more...] about Anticipating Settlement Costs
What’s with these mortgage rates?
The big question on everyone's mind right now is; what's with these interest rates? Beginning on Thursday, May 21, rates began to move up, dramatically. They are now a full 1% higher than they were just a couple of short weeks ago. What's going on, and will they come back … [Read more...] about What’s with these mortgage rates?
Properly Conducting a Closing
No venture will run smooth without proper preparation and when it comes to something as critically important as a real estate closing, would you want the closing to come off anything less than smooth? More than likely, you would probably prefer that all goes well with the closing … [Read more...] about Properly Conducting a Closing
What Do the New Appraisal Guidelines Mean to You?
I've been talking about the new appraisal guidelines and what a problem it will be for those who want to refinance. In a nutshell, the mortgage originator will not be allowed to have any contact with the appraiser. This means that the person determining the value of your home … [Read more...] about What Do the New Appraisal Guidelines Mean to You?
The Best Explanation I Have Ever Seen
I found these videos on revolutionradio.org. Without question (and without the usual "jargon") these are the best explanations of what has caused our current predicament that I have ever seen. And it shows why it's much more wide ranging than just mortgages. Sit down with a … [Read more...] about The Best Explanation I Have Ever Seen
The Lull Between Christmas and New Year’s
As you can imagine, not much has happened in the markets the past few days. I don't expect much until the New Year. Lenders are changing their guidelines but rates are holding steady. I have one huge objection to these low rates the lenders are screaming from the rooftops. … [Read more...] about The Lull Between Christmas and New Year’s