With the sudden jump in mortgage rates, market spectators are wondering what the impact might be on the housing recovery. Over the past 10 years, there have been two other instances when mortgage rates saw significant increases, according to Palim. From October 1993 to December 1994, rates … [Read more...] about What History Says About Rising Rates and Their Relationship to Housing
Title Insurance. It’s a term we hear and see frequently - we see reference to it in the Sunday real estate section, in advertisements and in conversations with real estate brokers. If you’ve purchased a home before, you’re probably familiar with the beneﬁts and procedures of title insurance. But if … [Read more...] about Why Do You Need Title Insurance?
An increase in foreclosure rates will inevitably bring with it an increase in short sales. But what is a short sale? A short sale happens when you sell your house for less than your remaining mortgage balance, the proceeds of which go to the lender and in return the lender forgives the remaining … [Read more...] about What is a Short Sale Anyway?
With the housing bubble burst and the subprime mortgage crisis, millions of homeowners found themselves unable to make their mortgage payments. Many found themselves owing more on the house than the home was worth. Many just walked away from their homes. As a result of these complicated issues, … [Read more...] about Thinking About Buying a Foreclosure?
With the burst of the housing bubble, credit crisis, and millions of foreclosures across the country, you may wonder if buying a home is such a good idea after all. However, it’s important to consider all of the facts. The important message to take away from these events is not that buying a home is … [Read more...] about Is Buying a Home Still a Smart Plan?
In the olden days, when someone wanted a home loan they walked downtown to the neighborhood bank or savings & loan. If the bank had extra funds lying around and considered you a good credit risk, they would lend you the money from their own funds. It doesn’t generally work like that anymore. … [Read more...] about Where Does the Money Come From for Mortgage Loans?