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Archive for the ‘Real Estate Appraisal’ Category
September 2, 2011 Refinancing Options for Underwater Homeowners
The national average of underwater homeowners is just over 28%. Many of these people report feeling stuck in their homes and powerless to change their situation. But with the extremely low current interest rates, underwater homeowners can refinance and bring their mortgage payment to a manageable number. There are several programs designed to help underwater [...]
August 24, 2011 Which Is Better – a 15-Year Mortgage or a 30-Year Mortgage?
Current interest rates for mortgages are very low, enticing some homeowners to refinance. The current interest rate on a traditional 30-year fixed mortgage is around 4.25% right now, but the current interest rate on a 15-year fixed mortgage is hovering around 3.4%, which makes this an extremely attractive option for those homeowners able to handle [...]
August 12, 2011 Risks of Co-Signing for a Mortgage
With lenders tightening their lending requirements, it has become harder for potential home buyers to secure a mortgage. Occasionally, these potential home buyers turn to a close friend or family member to co-sign the loan, but co-signing for the primary mortgage holder comes with a lot of risks. Co-signers have to be able and willing [...]
July 29, 2011 The Dodd-Frank Act Hasn’t Won Over Everyone – Banks Are Still Not Sure
Right around this time last year, we posted a series of blogs outlining The Dodd-Frank Wall Street Reform and Consumer Protection Act, a sweeping financial regulatory reform bill that included the first modernization of real estate appraisal regulations in more than 20 years. As evidenced by the blog “Much Rejoicing as Financial Reform Bill Passes,” [...]
July 21, 2011 The Debt Ceiling and Your Home’s Value
There’s been a lot of talk in the news lately about the debate over raising the debt ceiling. Historically, when spending was greater than revenue, the government agreed to raise the debt ceiling. But if Congress doesn’t reach that conclusion this time, it could affect the value of your home. There are some economists who [...]
July 12, 2011 More Help for Unemployed Homeowners
Last week, the Obama administration made policy changes to help unemployed homeowners with FHA-backed home loans prevent foreclosure. Under the current policy, unemployed homeowners who qualify can stop making mortgage payments for four months, but given today’s particularly depressed job market and the length of time those who lose their jobs stay out of work, [...]
June 30, 2011 Celebrity Houses That Are on Sale
Have you ever dreamed of truly living like a celebrity by buying one of their homes? If so, you’re in luck. Two famous names recently put their homes up for sale – Regis Philbin and Hulk Hogan. Regis Philbin’s four bedroom, eight bathroom, Greenwich, Connecticut, home is complete with a tennis court and a pool [...]
June 21, 2011 Big Banks Are Getting Out of Reverse Mortgages
Wells Fargo and Bank of America both recently announced that they will no longer provide reverse mortgages. We’ve written about these in the past. Reverse mortgages allow those 62 years old and older to access their home equity without having to make payments. Owners generally don’t have to pay the money back for as long [...]
June 10, 2011 Improve the Value of Your Home
There are a lot of people with houses that have been sitting on the market for months without a buyer in sight. Those people can simultaneously improve the value of their homes while making them more attractive to buyers by making home improvements, as long as those improvements actually pay off. The Wall Street Journal [...]
May 19, 2011 Investing in Distressed Real Estate
There was an article in The New York Times today titled “The Dangerous Allure of Distressed Real Estate.” It discussed real estate investment and its popularity before the housing bubble burst. After the economic crisis, people stopped viewing real estate investment as a sure thing, but with property values as low as they are now, [...]