Houston Real Estate Blogosphere
Houston Real Estate Blogosphere brings together all the blog posts of REALTORS from the Houston area in one place
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Mortgage & Finance

The most recently published posts in the Mortgage & Finance category
Janet Yellen and the Federal Reserve just declared the U.S. economy well enough to leave intensive care, though it is not yet the picture of health.The Fed has announced that it is ending a two-year stimulus program designed to keep interest rates low and boost the economy. The program -- known as "quantitative easing," or "QE3," for the fact that it was the third round of such stimulus ...
Read Post [Posted on 10/30/2014 By John Askins]
A new sign that the foreclosure crisis may largely be in the rearview mirror, new filings in the third quarter of this year were down 16 percent from a year ago — bringing overall foreclosure activity down to its level before the housing crisis, according to RealtyTrac's Foreclosure Market Report. What's more, default notices, scheduled auctions, and bank repossessions in September dropp...
Read Post [Posted on 10/30/2014 By John Askins]
A credit study estimates that 17.3 million prospects for new mortgages are being overlooked by lenders. Many of these prospects hold little credit history and, therefore, may be viewed as a risk to some lenders in making a loan. Experian, a credit analytics provider, notes that lenders will need to widen their market base if they are to grow their portfolios. That may require lenders to expand who...
Read Post [Posted on 10/28/2014 By John Askins]
The old joke: the greatest trick the devil ever pulled was convincing the world he didn’t exist.The sad truth: the greatest trick a lender could ever pull is pretending your best interests are at heart while laughing all the way to the bank after giving you a bad loan.When you go to shop for a loan, look for these bad loan warning signs—and be prepared to run—not walk—away from the table, fro...
Read Post [Posted on 10/27/2014 By Michelle Cannon]
Borrowers with minor imperfections on their credit applications — like a brief loss of employment or a temporary dip in their credit score — are starting to have better luck at snagging a loan with smaller lenders, Bloomberg reports. At least 15 smaller firms this year are offering slightly riskier mortgages, which in some cases come with higher interest rates and larger down payment req...
Read Post [Posted on 10/25/2014 By John Askins]
With still low home interest rates, the housing market is still offering “perhaps the best deals of a generation,” notes an article by Bloomberg Businessweek.  “It’s hard to see the possibility of losing on a home purchase right now, with these mortgage rates,” says economist Dean Baker. The article notes the following scenario: Buying a $289,000 home with a 4.5 percent mortgage rate and a ...
Read Post [Posted on 10/25/2014 By John Askins]
It’s still not easy to get a loan these days, say housing experts. Even home buyers with excellent credit are struggling to get approved for a loan, as home lending standards have tightened to some of their strictest level in decades.  Tightened credit is affecting home sales and hurting the housing industry’s recovery, economists note, as more borrowers face increased scrutiny in qualifyi...
Read Post [Posted on 10/25/2014 By John Askins]
A study released by Bankrate, Inc. shows that the majority of Americans think wealth is beyond their reach and that it won’t be easier to get rich any time soon.Among the findings:-70% of Americans believe that it is more difficult to get rich today than it was in the past;-More than half of those surveyed believe it will be even more difficult to get rich in America in the next ten years, while 2...
Read Post [Posted on 10/25/2014 By John Askins]
Lesson 2 How often does my credit score change? Your credit score changes as your credit report changes. This depends on when creditors report information to credit. Your credit score could change daily. Till tomorrow........
Read Post [Posted on 10/24/2014 By Angela Angell]
Lesson 1 How is my credit score calculated? 1. Payment History ( 35% of credit score) 2. Debt Level ( 30 % of credit score) 3. Age of credit ( 15 % of credit score) 4. Mix of credit ( 10% of credit score) 5. Credit Inquires ( 10% of credit score) ...
Read Post [Posted on 10/24/2014 By Angela Angell]
Your ability to buy a home with a mortgage depends on how much net income you have after all monthly debts. If your debt payments absorb your income—particularly credit card payments—you may have to put the brakes on the mortgage application.Most home buyers realize in order to purchase a home, they need at least good credit—and a better credit score means a better chance of qualifying.One of...
Read Post [Posted on 10/24/2014 By Michelle Cannon]
As interest rates have stayed low, home owners are rushing to take advantage of some of the lowest rates of the year.  "Growing concerns about weak economic growth in Europe caused a flight to quality into U.S. assets, leading to sharp drops in interest rates,” says Mike Fratantoni, the Mortgage Bankers Association's chief economist. “Mortgage rates for most loan products fell to the...
Read Post [Posted on 10/24/2014 By John Askins]
Young, first-time buyers are struggling to purchase a home. 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 than any other age group, according to a USA...
Read Post [Posted on 10/24/2014 By John Askins]
More applicants could qualify for a mortgage if lenders took a broader look at an applicant’s credit data, according to a report by CEB TowerGroup, commissioned by CoreLogic. Alternative credit data or extra credit information -- like an applicant’s unsecured credit, payday lending, and property history -- are good indicators of an applicant’s true credit risk, and taking into account such addit...
Read Post [Posted on 10/24/2014 By John Askins]
Which tax benefits do home owners miss? Will you get audited if you take the home office deduction? Find out the answers to these questions and more before Tax Day.There are a lot of home ownership tax benefits — if you don’t forget to take them. To make sure you get your due, HouseLogic asked tax expert Abe Schneier, a senior technical manager with the American Institute of CPAs, f...
Read Post [Posted on 10/23/2014 By Garrett McWhorter]
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