Holly Boyd's (hboyd) Blog

THERE ARE STILL SO MANY HOMES FOR SALE RIGHT NOW.  THERE ARE ALOT OF OPEN HOUSES THIS WEEKEND.  THERE ARE SOME REALLY GOOD DEALS OUT THERE RIGHT NOW.  GRANT HOWELL IN OVER AT RE/MAX JUST OFF ELDORADO PARKWAY IN FRISCO, TEXAS.  GIVE HIM A CALL AND HE WILL BE HAPPY TO HELP YOU WITH LOCATING SOME OP...

INTEREST RATES ARE STILL VERY ATTRACTIVE HERE AT FIRST HORIZON.  WE ARE STILL DOING MUCH BUSINESS.  WE HAVE HAD A FEW CHANGES IN OUR LOAN GUIDELINES, BUT SO HAVE OTHER LENDERS.  OF COURSE, THIS IS DUE TO THE SUBPRIME AND FORECLOSURE MESS.  MANY LENDERS ARE SLOWING DOWN LOAN APPLICATIONS BY CHARGI...

MORTGAGE INTEREST RATES MOVED DOWN SOME AND ARE HOLDING STEADY AT THIS TIME!  ACCORDING TO FREDDIE MAC, LONG-TERM MORTGAGE RATES CONTINUED TO MOVE LOWER FOR A THIRD CONSECUTIVE WEEK LAST WEEK!THEY ARE STILL ATTRACTIVE AND A GREAT TIME TO LOCK IN WHETHER PURCHASING, REFINANCING OR BUILDING A HOME!...

MORE MORTGAGE TERMS:AMORTIZATION-The repayment method, term of the loan.ANNUAL PERCENTAGE RATE (APR)-The yearly rate of interest including fees and costs paid to get the loan.GOOD FAITH ESTIMATE-A written estimate of closing costs.HUD 1 SETTLEMENT STATEMENT-A form used at the loan closing to item...

SOME MORTGAGE TERMS:ADJUSTABLE RATE (ARM)-The rate changes periodically in relation to an index.  Payments can increase or decrease.BALLOON PAYMENT-A lump sum payment of the unpaid balance is due at a certain time.CAP-The maximum allowable increase of the interest rate or payment for a specified ...

BUYERS NOW HAVE MORE NEGOTIATING POWER SINCE THERE IS A LARGE SUPPLY OF HOMES FOR SALE AT THIS TIME IN MOST OF THE COUNTRY.  ONCE PRICES BEGIN TO RISE, BUYERS WILL NOT HAVE AS MUCH NEGOTIATING POWER.HOUSING INVENTORY IS STILL RISING.NEW HOME SALES ARE DOWN A LITTLE.INTEREST RATES ARE STILL ATTRAC...

DON'T GET CAUGHT UP IN THE RAT RACE LIKE SOME FOLKS DO!SOME PEOPLE BORROWER AGAINST THEIR HOMES AND PAY OFF CREDIT CARDS ONLY TO GO OUT AND CHARGE ON THESE CARDS YET AGAIN.  ONLY TO REALIZE THAT THEY CANNOT AFFORD TO PAY ON THE HOME-EQUITY LOAN AND CREDIT CARDS.  REMEMBER, THEY BORROWED MONEY TO ...

SALES OF EXISTING HOMES HIT THEIR SLOWEST PACE LAST MONTH IN FOUR YEARS.LAST MONTH THE MEDIAN SALES PRICE OF AN EXISTING HOME FELL TO $223,700 WHICH WAS DOWN 2.1% FROM A YEAR AGO.  THIS WAS THE TENTH CONSECUTIVE MONTH THAT THE MEDIAN HOME PRICE DROPPED.  IT IS SAID THAT THIS IS THE LONGEST CONSEC...

TO HELP PREVENT FRAUD, FAIR ISAAC ADJUSTS FICO SCORING.  IT IS EXPECTED TO BE AVAILABE TO LENDERS STARTING IN SEPTEMBER.  THIS SHOULD HELP TO ELIMINATE THE PRACTICE OF PIGGYBACKING AND FRAUDULENT MANIPULATION.  THIS IS ANOTHER GOOD EXAMPLE OF WHAT IS BEING DONE TO STOP DECEPTIVE PRACTICES THAT FR...

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