Real Estate Blog

There is a new player in town. A company called VA Mortgage Center has recently launched an interesting program for all the Veterans and Active-Duty military.
Even though that are insured by the U.S government, VA Mortgage Center is not affiliated with any government agencies
From watching their video and doing some research on their company, it seems like […]

I find it very interesting that the mortgage applications are up again, second consecutive week. Applications rose as interest rates continued to fall.
The average interest rate for traditional, 30-year fixed-rate mortgages fell to 5.62 percent from 5.73 percent. The average interest rate for 15-year fixed-rate mortgages — which are typically used to refinance loans […]

A few months ago, we wrote an article on how to save your home if you are in a foreclosure situation. The article had a great impact at that time since the economy was shaking at the latest reports on foreclosure numbers. Yesterday, I was browsing the Money CNN section and I came across an […]

CNN reported earlier this morning that hundreds of thousands of homeowners who may struggle to make mortgage payments are likely to get some relief in coming months, including more options to refinance into lower-cost, fixed-rate loans and tax relief if they do face foreclosure.
About 240,000 borrowers of the estimated 2 million with adjustable-rate loans scheduled […]

Realty Trac has just released the foreclosure numbers for July 2007 and according to the report the nationwide foreclosures are up 93 percent since last July and 9 percent up from June 2007. There were $179,599 foreclosure filings reported in July. But what are the main factors that have contributed to the increase in foreclosures […]

The number of foreclosures reported in the U.S. last month jumped 93 percent from July 2006 and rose 9 percent from June. This is an again an obvious sign that homeowners are having trouble making payments and finding buyers during the national housing downturn. The average time of properties on the market has increased also […]

The news that the largest U.S. mortgage lender could face bankruptcy as liquidity worsens has had a great impact on its stock, down 13%. This is the biggest one-day decline since the 1987 stock market crash. The stock has been downgraded to “sell” from “buy” on Wednesday and the investors are less confident the company […]

Like many other homeowners, home-based business owners also tapped the seemingly ever-increasing rise in property value and the corresponding low interest rates the past few years to refinance their homes and use the funds for either consumer spending, business growth and expenses, or both. But now it looks as if that may not have been […]

This is a question that everyone has asked themselves: What should I do if I’m in a foreclosure situation?
There can be one of four different outcomes:
- You bring your payments current and your loan is reinstated. (Happy ending)
- You sell your home and pay off the loan, keeping “foreclosure” off your credit record. (You have […]

States with the Highest Foreclosure Rates
Jan-June 2007
1. Nevada
2. Colorado
3. California
4. Michigan
5. Florida
6. Ohio
7. Georgia
8. Arizona
9. Connecticut
10.Indiana
In the first six months of this year, Nevada, Colorado and California earned the dubious honor of being the three states with the highest foreclosure rates in the country. However, what might surprise people is that several states from the […]

The slide started innocuously in April after New Century Financial, a mortgage lender whose principle borrowers were Americans with less-than-stellar credit, filed for bankruptcy protection.
Its customers were people who may have been late on credit card payments, maybe even filed bankruptcy in the previous years, but still wanted that shot at the American dream: a […]

Even if this is not something common, one day, your mortgage company might have to fill for bankruptcy. Of course, the question that will go through your head at that time is: What do I do? Am I screwed? Who owns my house?
Here is a simple advice:
1.Keep making your payments
Regardless of what kind of […]

The stock market is going crazy. Hedge funds are going under. But for the average American looking for a home loan, the crisis in the subprime mortgage market may actually be good news.
Rates on 30-year fixed loans dipped last week, to 6.41 percent, according to the Mortgage Banker’s Association.
In addition, tightened lending standards stemming from […]

Rising competition is forcing mortgage sellers to generate new products to win customers.
NEW YORK (CNNMoney.com) — Following the subprime mortgage market collapse, new loans are down, and lenders are turning back to safer - less profitable - offerings. But with tougher competition and a shrinking market, they’re getting a little more creative.
In January, more than […]

MORTGAGE LENDERS make no bones about it: They are tougher on second-home loan applications than on primary-home loans. Why? Because the finances of a second-home buyer are, by definition, stretched thinner. The result is that second-home rates traditionally run one-quarter to one-half point higher than those for first residences. Ditto for origination points on vacation-home […]

Great article on SmartMoney.com. Foreclosure properties are always risky and there are so many factors to take in consideration, which makes the whole process very unpleasant or, better yet, confusing.
LAST MONTH, 43-YEAR-OLD Daryl White and his wife Renée closed on their new home: a five-bedroom, four-bathroom 2,900 square-foot house in Valencia, Calif., a planned community […]

Applications for U.S. home mortgages rose last week, driven by an increase in loan refinancing, an industry trade group said Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity rose 1.5 percent to 639.8 in the week ended Feb. 9.
The group’s seasonally adjusted refinancing index increased 4.5 percent to 2,031.7, overshadowing […]