Short sales, in most cases, are one of the most economical solutions for all parties involved when a borrower can no longer afford their home. The bank typically incurs a smaller financial loss than would result from an ultimate foreclosure or continued delinquency on the mortgage payments. Borrowers may be able to soften the overall […]
There are many benefits to a Short Sale versus a Foreclosure for a California homeowner, but there also many drawbacks to a short sale that need to be considered before deciding on the best course of action. A short sale is a great option for California home owners who need to sell their home and owe […]
CNBC and Bankrate.com just reported that home loan rates are at their all time lows. Yes, all time lows! This is great news for anyone who has yet to refinance to take advantage of the lowest rates ever recorded, or to purchase that new home or investment property more affordably than ever before. Both 30 […]
Whether you should do a short sale or let the home go to foreclosure depends on several factors. While for some homeowners, it is easier to throw up your hands and let the bank take your home, that might not be the wisest thing to do. Short Sale Benefits Here are a few benefits for […]
Fannie Mae and Freddie Mac are making the following changes to interest-only and 3/1 and 5/1 ARM Loan Programs. These changes go into effect immediately. Interest Only Product Changes Interest only transactions are no longer available for Cash-out refinances, Investment properties and 2 to 4 unit properties. Interest only loans are still eligible on following […]
FHA recently announced additional resources for condominium approval process for San Jose and rest of the country condos. All condominium inquiries, telephone and email, must be submitted to the FHA Resource Center at:(800) 225-5342 or by email at: info@fhaoutreach.com The FHA Resource Center will provide responses to general inquiries received from consumers and industry partners. […]
Have you found that almost perfect San Jose home in the right location that is selling at a reduced price because it needs a little rehab work? Unfortunately, most mortgage loan programs require homes “in need of work” to be complete before the financing can be secured for the purchase transaction. Whether the property needs […]
Last week mortgage rates for San Jose homes eased back to the lowest level of the year. According to Freddie Mac’s Primary Mortgage Market Survey 30-year fixed-rate mortgage (FRM) averaged 4.84 percent with an average 0.7 point for the week ending May 20, 2010, down from last week when it averaged 4.93 percent. The 5-year […]
San Jose Mortgage Rate (30 Year Fixed and 5 Year ARM) and Market Commentary for the week of May 3rd, 2010. The week that was: Freddie Mac in its Primary Mortgage Market Survey reported that 30-year fixed-rate mortgage averaged 5.06 percent with an average 0.7 point for the week ending April 29, 2010, down slightly […]
Whether you are buying or selling a home in Santa Clara County, you should be aware of what fees is paid by which party. Note that the fees I have listed below vary by county to county and is negotiable by contract. These are not an all inclusive list, but I have tried to include […]
