Houston Real Estate Blogosphere
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Mortgage & Finance

The most recently published posts in the Mortgage & Finance category
More than three-quarters of Americans who fall within Generations X and Y believe they have become increasingly knowledgeable about home ownership due to the greater media coverage on the real estate market the past six years, according to a Better Homes and Gardens Real Estate survey of about 1,000 18-35 year olds. These two generations say that before buying they’d do their homework first, rese...
Read Post [Posted on 07/22/2014 By John Askins]
Fixed-rate mortgages have been at decade lows this year, increasing home buyers’ purchasing power and helping to trim home owners monthly mortgage payments—at least for those who qualify. But a number of home buyers and refinancers say they are shut out of the cheaper borrowing conditions due to banks’ tightened lending standards, according to data released by the Federal Reserve. One Washin...
Read Post [Posted on 07/22/2014 By John Askins]
With crowdfunding tech sites such as Kickstarter and Indiegogo successfully launching projects ranging from LPs to lightbulbs, the idea is making inroads in real estate. Groundfloor, an online crowdfunding program devoted to real estate, is putting a historic Atlanta home on the market this week as it prepares to expand its funding platform to five new states. The home renovator received...
Read Post [Posted on 07/22/2014 By John Askins]
Following a similar move by J.P. Morgan Chase, Bank of America Corp. runs a program geared to reducing loan balances for military borrowers who are struggling to pay their mortgages as they leave active duty.Many of the banks' measures go beyond protections already provided to military borrowers in the Servicemembers Civil Relief Act. The SCRA forbids foreclosures on active-duty military and ...
Read Post [Posted on 07/22/2014 By John Askins]
4 Tips to Determine How Much Mortgage You Can Afford By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget. Read Visit houselogic.com for more articles like this. Copyright 2014 NATIONAL ASSOCIATION OF REALTORS®“. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®."      ...
Read Post [Posted on 07/21/2014 By Pamela Bratcher]
When reviewing their credit reports, one in five consumers are likely to receive a different credit score from what a creditor will use to price a loan, according to the Consumer Financial Protection Bureau. The discrepancy has the agency concerned. Lenders use credit scores to help determine the interest rate they’ll charge customers—with higher credit scores often receiving the best rates. “Many...
Read Post [Posted on 07/21/2014 By John Askins]
If you have a mortgage on your home and you live in a high-risk flood zone, in most cases, your lender requires you to buy flood insurance.However, if you live in a moderate- to low-risk zone, and your community belongs to the National Flood Insurance Program (most do), then you have the option of buying it.If you’re in the latter category, your first question probably is, “How much does...
Read Post [Posted on 07/20/2014 By Kimberly Oldfield]
Writing a home purchase contract is crucial. Otherwise, it can easily derail a deal. Here are some common contract mistakes: 1. Buyers don’t secure financing by deadline.Many contracts are contingent upon the buyer securing financing by a particular date. However, in today’s tight lending environment, you’ll want to ensure you allow extra time for buyers to get mortgage approval. Ot...
Read Post [Posted on 07/19/2014 By John Askins]
Borrowers say they spend no more time researching a mortgage loan today than they did before the mortgage market meltdown, according to a survey by Zillow.com. And that’s unfortunate, says Zillow Chief Economist Stan Humphries"The last few years should have driven home the lesson that understanding one's home loan is critically important, but mortgages continue to be something that most peopl...
Read Post [Posted on 07/19/2014 By John Askins]
One of the biggest obstacles home buyers face is qualifying for financing, and a report by the Federal Reserve shows exactly how big of struggle potential borrowers face. According to the Federal Reserve report surveying banks, the report found that most banks say they are a lot less likely to issue a mortgage to borrowers with a FICO credit of 620 and a 10 percent down payment than they...
Read Post [Posted on 07/19/2014 By John Askins]
Foreclosures and short sales can offer some home buyers big bargains, with the typical discount on a foreclosure about 19 percent, but buyers should be careful not to be guided by price alone, housing experts warn. “Distressed properties can have great appeal,” says Wendy Forsythe, executive vice president at Atlantic Pacific Real Estate. “Discounted prices and historically low interest rates make...
Read Post [Posted on 07/19/2014 By John Askins]
As U.S. home prices rise, consumers are once again prioritizing their mortgage payments over paying down credit card debt, according to a report from TransUnion. It’s the first time since 2008 that borrowers have shifted their focus back to mortgage debt ahead of credit card debt. Mortgage delinquencies are falling, too. Following the housing crisis, many home owners were underwater on...
Read Post [Posted on 07/17/2014 By John Askins]
By Diana Walton Talk to your agent. Take a look at your budget and determines if a house payment will fit into it. A good rule of thumb is to spend no more than 28 percent of your income on housing costs Look at your credit early in the home-buying process. Get your free annual credit report and comb through it for errors and unresolved issues. If you find mistakes, contact each of the th...
Read Post [Posted on 07/16/2014 By Diana Walton]
Important factors about credit scoring  A few days ago an article was provide to us by Sandra Womack.  She shared some very vital tips on factors that can hurt or help your credit scoring.  Before applying the 5 factors to improving your credit score, FIRST get copies of your credit report and SECOND make sure information is correct.  There is 5 factors involved  to y...
Read Post [Posted on 07/16/2014 By Tammi Freund]
The average amount of mortgages being approved by lenders has grown in the last year — a sign of increased buyer and lender confidence, according to analysts at Capital Economics. Besides the increase in average mortgage amounts, analysts also point to other positive signs shaping up in the housing market, including the drop, then stabilization in the home inventory the last 18 months. The repo...
Read Post [Posted on 07/16/2014 By John Askins]
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