Houston Real Estate Blogosphere
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Mortgage & Finance

The most recently published posts in the Mortgage & Finance category
The number of home owners who find “strategic default” socially acceptable is growing in most states.  Last year, 27 percent of foreclosed home owners say they strategically defaulted on their mortgage. Strategic default is when a home owner is financially able to make their mortgage payments but decides to stop, usually because the property is underwater. For those who decided to walk away f...
Read Post [Posted on 04/19/2014 By John Askins]
Young, first-time buyers are struggling to purchase a home. With low inventories of homes for sale, young first-timers are finding themselves competing against other bidders who are willing to pay cash. Meanwhile, many young buyers are having trouble qualifying for a loan, often due to high student loan debt.  Overall, young buyers have been left out of the housing recovery more th...
Read Post [Posted on 04/17/2014 By John Askins]
 Budgeting to Buy a House No matter how good the credit rating, today's homebuyer no longer has the luxury of buying with little or zero down. Unless you are low-income with good credit, or a veteran, no-down loans are also a thing of the past. Most lenders today want at least 20 percent of the loan amount as a down payment on a house. For a home priced between $168,300 and $287,500, ...
Read Post [Posted on 04/16/2014 By Shayne Stone]
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 04/16/2014 By John Askins]
The rising insurance rates on Federal Housing Administration mortgages are putting home purchases “increasingly out of reach” for many qualified buyers who rely on FHA financing, National Association of REALTORS® President Steve Brown wrote in a letter to FHA Commissioner Carol Galante. In the letter, Brown urged FHA to lower its annual mortgage insurance premiums.  Brown acknowled...
Read Post [Posted on 04/15/2014 By John Askins]
By 2039, commercial real estate is expected to be thriving. But over the next 25 years, it will be greatly influenced by changes in demographics, technology, globalization, and economic and environmental realities, according to CNBC.  Commercial practitioners gave CNBC several “bold” predictions for the U.S. commercial real estate sector by 2039: The fading away of shopping mal...
Read Post [Posted on 04/15/2014 By John Askins]
Energy industry representatives are increasingly making an offer to home owners across the country: Let us drill for your natural gas on your land, and we’ll pay you for the lease.  The offer is increasingly being made to home owners in Texas, Pennsylvania, and New York. Drilling officials say home owners can earn extra income that can be used to pay off their mortgages and that the gas roya...
Read Post [Posted on 04/15/2014 By John Askins]
How a Short Sale Can Impact Your Credit Score While the United States housing market improved in 2013, at the end of the year 19% of homeowners with a mortgage owed more on their mortgage than the value of their home. For homeowners with no plans to move and who can comfortably afford their mortgage payments, being underwater certainly can be frustrating. However, those homeow...
Read Post [Posted on 04/14/2014 By Michelle Cannon]
Vacation home sales rose strongly in 2013, while investment purchases fell below the elevated levels seen in the previous two years, according to the National Association of REALTORS®.NAR’s 2014 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2013, shows vacation-home sales jumped 29.7 percent to an estimated 717,000 last year from 553,000 in 2...
Read Post [Posted on 04/14/2014 By John Askins]
With the initial Tax Filing Deadline coming up tomorrow, on April 15th, purchasers of second homes should be aware that, according to the IRS, taxpayers who are married and filing jointly can’t deduct interest on more than a combined total of $1 million of “home acquisition debt” for a primary and a secondary residence.Taxpayers also may deduct up to a combined total of $100,000 of home-equity deb...
Read Post [Posted on 04/14/2014 By John Askins]
Despite an unexpected increase in producer prices, the past week was highlighted by concern over persistently low inflation. Minutes of a Federal Reserve committee meeting showed that policymakers are leery of continued low prices, which they believe suggests a slowdown in global economic growth. Federal Reserve officials expressed concern over this continued low inflation, a situatio...
Read Post [Posted on 04/13/2014 By John Askins]
A majority of more than 100 economists and real estate experts say that home prices appreciation in U.S. home prices to be about 3.5 percent in 2014.But with the rising home prices, 56 percent of the economists surveyed had more modest predictions for the home ownership rate. More than half of those surveyed say that in five years the U.S. home ownership rate will likely drop below 65.4 ...
Read Post [Posted on 04/12/2014 By John Askins]
If and when Congress shuts down Fannie Mae and Freddie Mac, borrowers likely will end up paying slightly higher mortgage rates.  Proposed House and Senate bills would wind down the two firms over five years and scale back the government intervention in guaranteeing mortgage securities.The House GOP bill would virtually privatize the mortgage market, while the Senate's bipartisan plan ...
Read Post [Posted on 04/12/2014 By John Askins]
Deciding what type of home loan is best for your needs might be the most trying part of the home-buying process. Your decision involves seven components. 1. Loan amount The amount that you qualify to borrow depends on your income, expenses, down payment, and current mortgage rates. Most importantly, it should be an amount that you’re comfortable borrowing. 2. Mortgage features  There are sever...
Read Post [Posted on 04/11/2014 By Susan Roddy]
Fewer first-time home buyers are obtaining mortgages with down payments of 6 percent or less, according to the National Association of REALTORS®’ latest Confidence Index Survey. In February, 61 percent of REALTORS® reported that their first-time buyers had obtained mortgages with 6 percent down or less compared to 74 percent of REALTORS® reporting the same in 2009. “Along with the re-em...
Read Post [Posted on 04/11/2014 By John Askins]
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