Some Good News for Veterans!

Effective November 17,2011,the costs associated with getting a VA mortgage are going DOWN! An overview:VA mortgages are bundled,securitized and sold in the secondary market with the backing of the Federal Government. In order to insure these mortgages,the government charges a type of insurance premium,called a VA Funding Fee,which is typically added to the loan amount (thereby financed).

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New Bank of America Program WIPES OUT Negative Mortgage Equity

…Bank of America will soon be off the hook for mortgage abuses in exchange for a whole bunch of money. The money will be used for loan modifications and….mortgage debt forgiveness. Yes,you read that right…BofA will soon be announcing a new program to forgive underwater owners negative equity.

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2012 Real Estate Predictions / 2012,The Year Of The REO

1 Million Foreclosures Delayed Until 2012 An estimated 1 million foreclosure-related notices for defaults,auctions,and home repossessions that should be filed by lenders this year will be pushed back until next year,according to the latest report by RealtyTrac.

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Why You Need a Good Negotiator in Today’s Market

InfoGraphic via Why You Need a Good Negotiator in Today’s Market. . . . →Read More:Why You Need a Good Negotiator in Today’s Market

Should You Be LOCKING Your Loans?

Should You Be LOCKING Your Loans?. Should you lock in the interest rate on your mortgage? A couple of things to consider:1. While I am confident that the Debt Ceiling Debate will be settled (whether it’s for six months or a year),my greater concern is the growing belief that the ratings agencies are looking at downgrading our government’s bonds from our AAA status. By lowering the credit rating of the bonds being presented to the market,the confidence of those who buy our bonds will be shaken. In order to overcome the risk of lower rated bonds,we will need to offer greater rates of returns on our bonds. THAT will result in a rise in mortgage rates because mortgages are what make up the bonds. This will affect virtually every conforming loan limit home buyer,whether they have conventional or government (FHA/VA) financing.

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Why They Are Saying to Buy A Home Now

Why They Are Saying to Buy A Home Now.  Despite what appears to be a non-stop wave of tough news regarding real estate,four major media players have come out this month with the same advice:It Is Time to Buy a Home! . . . →Read More:Why They Are Saying to Buy A Home Now

Foreclosure Delays Stretch Imagination

Over the past month we noticed that Bank of America has been resuming foreclosures on loans originated by Countrywide. As you may recall in October BofA voluntarily imposed a foreclosure moratorium following the robo-signing scandal. We actually expected an increase in activity as lenders began to catch up after these delays and were instead surprised to see foreclosure activity drop in April.

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Even the Naysayers Are Saying To Buy Now!

Business School professors Eli Beracha of East Carolina University and Ken H. Johnson of Florida International University have done extensive research on which makes more sense financially:to rent or own a home. They published,Lessons from Over 30 Years of Buy versus Rent Decisions:Is the American Dream Always Wise? In their paper,the professors do not dispute the social benefits of homeownership:

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5 Reasons You Should Consider Selling Now

If you plan on moving anytime in 2011,you should strongly consider selling your house now rather than waiting. Here are five reasons why:1.) This is when your house will get the most exposure

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Shedding a Little Light on Shadow Inventory

Last week,we posted a blog titled:The Impact of Distressed Properties on Neighboring Values. In the article,we said there would be more distressed properties coming to market in the next six months and that these properties would via Shedding a Little Light on Shadow Inventory. . . . →Read More:Shedding a Little Light on Shadow Inventory

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