Rules are inherently restrictive, but if there’s one thing the mortgage industry does well, it’s circumvention. For example, taking what appears to be a pretty… Read More »It Turns Out the Qualified Mortgage Rule Is Pretty Flexible
At first glance, the headline doesn’t make a lot of sense. Why would all-cash home sales increase if mortgage rates were hitting new lows for… Read More »All-Cash Home Sales Hit New High as Mortgage Rates Fall to 2014 Low
An interesting thing happened to a pair of Ocean City, New Jersey homeowners recently. Residents Bill and Barbara Doughten received an anonymous handwritten note from… Read More »Real Estate Agent Leaves Nasty Note for Homeowner Who Parks Car on the Front Lawn
If you’re currently in the market to purchase a home, you’re probably pretty frustrated. After all, it has become increasingly difficult to find a property… Read More »Even Flippers Are Having a Hard Time Finding Homes to Buy
Everyone seems to agree that Fannie Mae and Freddie Mac need to go away. Well, maybe not the hedge funds that hold their stock. Nevertheless,… Read More »Mortgage Rates Will Only Be Marginally Higher If Fannie and Freddie Disappear
Two words: Buyer’s remorse. Not a big deal when buying lunch, but a pretty huge deal when purchasing a home you don’t like. A new… Read More »One in Four Homeowners Wouldn’t Buy Their Current Home Again If Given the Chance
Well that didn’t take long. Only about six months after we bid adieu to 3% down mortgages, they have resurfaced. Just in time for the… Read More »The 3% Down Payment Mortgage Has Returned
Sure, short sales have come to a relative crawl after carving out a decent slice of the real estate market over the past couple years,… Read More »The Nation’s Most Expensive Short Sale Finally Sold This Week
Earlier this week, the National Association of Realtors sent a letter to FHA Commissioner Carol Galante urging her to rethink the agency’s new mortgage insurance… Read More »Higher FHA Premiums May Have Priced Out 375,000 Potential Home Buyers
Update: Carrington Mortgage Services now allows FICO scores as low as 500 for both FHA loans and VA loans, which is the minimum credit score… Read More »Wholesale Mortgage Lender Drops Minimum FICO Score for FHA and VA Loans to 550
