REO refers to a home that the homeowner lost in foreclosure. The lender then tries to sell the real estate-owned property to minimize their losses.
In this installment of our First-Time Home Buyer Q&A Google Hangout (that never ceases to be a mouthful), the experts are asked about appraisals: What are you supposed to do when, after you make an offer on a home, the home is appraised for less than your offer?
An FHA mortgage is insured by the Federal Housing Administration and has less strict qualification guidelines for the homeowner. This and much more are discussed in our First-Time Home Buyer
Although ARMs were one type of loan used prior to the crash, what was called an ARM then and what is an ARM now are very different.
2013 has seen some major economic events, and balance probably isn’t the first word most people would think of to describe them. However, there’s some balance coming in 2014…to the housing market, at least. A recent article on CNNMoney discusses how the housing market is shifting and will provide more opportunities for both buyers and sellers, as long as you’re a savvy player in the game.
Anyone can assume a VA mortgage – as long as their income and credit qualify – but children of veterans can’t get VA loans themselves.
When it comes to VA loans, there are a few different fees that must be paid by the seller, and individual lenders may have additional guidelines on top of those from the government. Check out this recap of our VA Loan Google hangout for more information.
In this week’s installment of our Buying a Home series, we’ve created a checklist of some of the main things you should be thinking about and looking for in the basement of a home. Thinking about all of these different things beforehand can help you decide on the right home for your needs.
Buying a home is a tricky, complicated, expensive, draining and stressful process. Okay, not always, but it definitely can be. One seemingly easy way out would be to buy a home from a family member or friend. You’d get a lower price, a quicker process, potential for owner financing, and wouldn’t it be much easier to deal with someone you already have a great relationship with? Buying a home in a non-arm’s length transaction might be a great idea, but there are a number of things you need to know before you can pop the cork.
The mortgage market is one area that potentially stands to lose heavily if the shutdown continues, but it’s been holding its own so far. Rates have actually dipped a bit because stocks have been so volatile that investors are looking to the safer MBS market.