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Follow These 6 Steps When Using Gift Funds Gifts are allowed in most cases but the problem is, if you don’t accept the gift in a “lender-friendly” way, the mortgage underwriter could reject it, and not allow it. Six Steps To Success With Your Down Payment Gift Funds You can’t just deposit ...
Distressed Property Numbers Distressed Property Numbers are Diving. From the most recent CoreLogic report distressed inventories have fallen by 14.4% this year. Completed foreclosures are down 20% since last year. The national foreclosure inventory is down 28% and the seriously delinquent loans, ...
This payment chart shows the payment difference with rates from 4.5 percent up to 6 percent and loan amounts from $100,000.00 to $500,000.00 to show you what the principal and interest payment would be. Sean Young www.mylendersean.com Google+ *This chart is only an example to show what the dif...
Investors coming into the market helped the market in a very big way. But we can see the number of distressed property sales has dropped down in half to 18 percent. The shadow inventory is become less and less over time and we’re getting back to more normalized numbers. It’s still high but nowhe...
An interesting study was reported by the “Wall Street Journal” last month. It said the agents that who concentrate in specific geographic areas actually do a better job for the homeowner than people who don’t. Obviously, this is not the case in every situation, but there was an actual study th...
Take a look at the Campbell Inside Mortgage Finance Survey. Current homeowners or the move‐up buyer is 43.8 percent of the market. First time home buyers are 36 percent which is still a little low. Now part of the reason that’s low is a lot of the houses they would’ve bought, the investors are...
Will Rates Go Up In The Near Future? There are two quotes that came out recently with in the last 30 days that could be of concern.The first was from Doug Duncan, the Chief Economist at Fannie Mae who said “I don’t think the Fed ultimately would be troubled with a 6.5 percent mortgage rate.” He...