Foreclosure and Short Sale Affect Ability to Get Mortgage

Foreclosure and Short Sale Affect Ability to Get Mortgage

November 4, 2011 by · 1 Comment 

When clients are facing foreclosure, the Get Home Denver Team counsels clients as to their options.  These options include Selling the home if there is enough equity, loan modification, refinancing, bankruptcy, doing a “short sale”, and letting the bank foreclose.  Of these, foreclosure and short sales are the most common.  One of the most often [...]

$8000 Tax Credit Still Available for Military

July 9, 2010 by · 3 Comments 

[facebook_ilike] The Get Home Denver Team is pleased to publish this post written by VA expert James Kelley. Homebuilders in Denver, CO are very optimistic about the local economy.  According to a recent Denver Post article, builders are buying vacant lots all over Denver with the intention of constructing new homes to meet predicted demand. [...]

HUD Suspending 90 Day Rule

HUD Suspending 90 Day Rule

January 18, 2010 by · 2 Comments 

HUD’s 90 day rule was a condition put upon home sales stating that if the property was owned for less than 90 days, the owner could not sell it and offer FHA financing. The reason for this was to keep unscrupulous investors from buying low, and re-selling immediately for substantial profit. Investors, rehabbers, and the like, needed to wait a full 90 days before the resale could go through with an FHA loan.

Maximize the Value of Your Offer

December 7, 2009 by · Leave a Comment 

When negotiating a purchase, instead of asking for a reduction in sales price, consider asking for that money in seller concessions. It is a wash either way for the seller, and it could save you considerable money on your monthly payment. Let’s assume a $250,000 listing price, 20% down payment and a 30 year fixed [...]

Mortgage Market Update 6-15-2009

June 15, 2009 by · Leave a Comment 

Mortgage bond prices were very volatile last week pushing rates slightly higher by approximately 1/4 of a discount point.

The primary culprits are fears that other countries would shift dollars away from US holdings. Retail sales rose 0.5%, and reinforced the belief that the economy has started to turn. Oil prices continue to rise, and hit over $72 per barrel.

This week the Consumer Price Index (CPI) will be released this week, and is widely accepted…

Making Home Affordable Program

March 26, 2009 by · 4 Comments 

The Obama Administration unveiled the final details of its “Making Home Affordable Program,” which is designed to help up to 9 million American families refinance or modify their loans to a payment that is affordable now and into the future. One of the initiatives in this program is aimed at helping struggling homeowners “modify” their [...]

Advantages of FHA Loans vs. Conventional Loans

February 6, 2009 by · 1 Comment 

If you are considering a home mortgage loan it is best to gather your own facts rather than rely on a loan provider to inform you. Once you have gathered facts you can meet with a loan officer armed with knowledge and the proper questions to obtain the best loan product for your needs. Knowledge [...]

Refi Now or Roll the Dice?

December 12, 2008 by · 1 Comment 

With 30 year fixed rate loans hovering around 5%, is this the time to pull the trigger on a re-finance of your mortgage?  There are two groups of qualified borrowers who should look at refinancing? Image by woodleywonderworks via Flickr Those who have fixed-rate mortgages above 6%. Those who have adjustable-rate mortgages and want the [...]

Fannie Freddie Bailout

September 9, 2008 by · 3 Comments 

We’ve been getting many questions on the Fannie Mae/Freddie Mac seizures by the U.S. Government.  Here is some information to help get your arms around the situation. This from the Wall Street Journal U.S. Seizes Mortgage Giants Government Ousts CEOs of Fannie, Freddie; Promises Up to $200 Billion in Capital By JAMES R. HAGERTY, RUTH [...]

Lenders Becoming More Conservative!

September 9, 2008 by · Leave a Comment 

Fannie Mae has announced that they are lowering the maximum loan-to-value (LTV) ratios for a number of loan types. The three changes that will have the most impact follow: Principal residence, cash-out refinance: Current max is 90%, new max is 85%. This means that if you refinance your primary residence, you can’t get more than [...]

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