Tag Archives: home loan information

Loan Modification Secrets

For some Homeowners in Danger of losing their home to Foreclosure, there has been a lot of Incomplete Information out there…. 

For example, many believe that a loan modification is a “cure-all” for distressed homeowners. While it is true that it can be a good option for some people, it isn’t always the best solution.

There are many more options available to homeowners. As a real estate professional with the Certified Distressed Property Expert (CDPE) designation, I have put together a list of 5 questions that anyone who is in danger of losing a home should ask before they make a decision.

If you are in need of “A Financial Life Line”…Take a look at the Resource Information on this site www.SCVResourceCenter.com and download a copy of my report entitled “Loan Modification Secrets.” read more

Mortgage Rates Reach All New Historic Lows!

Home loan mortgage rates have hit a milestone as they drop to a new record low. On average, a 30 year fixed mortgage rate is currently offered at around 3.53%, with 15-year rates dropping below 3%. These rates are based on approved credit by your lender.

This means that there has never been a better time to buy a home. With rates like this, you May qualify either for a lower mortgage payment, or a higher loan amount, which allows you a greater selection of homes and price ranges to choose from. read more

Rise in New Home Sales Show Promise For Market Recovery

When the economy took a negative turn a few years ago, one of the industries hardest hit in the real estate community were new home sales. Recovery had been slow for this industry, but this year, it appears new home sales have turned a corner in the positive.

According to the Commerce Department, new home sales in April rose 3.3%, and the median selling price of a new home is up 4.9% over the previous year.  Sales are still slow compared with the boom years when they reached a rate of close to 1.4 million, but the month’s results were slightly better than expected. read more

First-Time Home Buyer Grants

2012/2013 First-Homebuyer Grant Program for San Fernando & Santa Clarita Valleys

The Southland Regional Association of REALTORS® is currently offering grants to qualified homebuyers who purchase their first home within the San Fernando or Santa Clarita Valley and have a low to moderate income-level. The amount of each grant will be $2,000 and will only be paid to qualified applicants after the close of escrow while funding lasts. Repayment of grant is not required.

NOTE: THERE ARE A LIMITED NUMBER OF GRANTS. GRANTS WILL ONLY BE AWARDED TO THOSE APPLICANTS WHO QUALIFY AND WILL BE DISTRIBUTED ON A FIRST-COME, FIRST-SERVE BASIS. THIS GRANT PROGRAM WILL LAST ONE YEAR BEGINNING MAY 7, 2012 OR UNTIL ALL GRANTS HAVE BEEN AWARDED, WHICHEVER COMES FIRST. BUYERS MUST BE ADVISED THAT SIMPLY SUBMITTING AN APPLICATION DOES NOT GUARANTEE AN AWARDED GRANT. read more

So Why Aren’t Condos Selling?

Well, I shouldn’t say they aren’t SELLING, they are; but they are lagging far behind single family residences in sales volume.

While single family home inventories are significantly low, condos are also still dropping in price. A great sign for buyers, but for sellers? Hmmm…

Median condo prices bottomed out in January at $184,500 and then improved in February to $194,000 but slipped again in March to $190,000 – down 19.1 percent from the year-ago price of $235,000. Condo prices haven’t improved year-to-year since April 2011. read more

Things to Think About When Buying a Home

So you’re gonna do it. You’re jumping into the homeownership game. Well, it’s not a game, really, it’s one of the most important decisions anyone makes in their life. It’s an investment and, if done wisely, will add to your overall financial value with growth in equity.

That being said, there are some things to think about when you are in the process of looking for, and then buying, a home.

Let’s start with looking:

I’m going to assume you’ve done the right thing and consulted with a mortgage lender to pre-qualify for a home loan. This is THE FIRST THING you will do. Why? It makes sense to know exactly how much house you can afford. Another great reason is that it shows the seller you’re serious about your commitment to purchase when you make an offer on their home. read more

Steps in Home Buying Process: Pre-Approval for Home Loan

Pre-approval is one of the most important steps in the home buying process. You should apply for a loan and receive approval from a lender before searching for a home.

Here are some reasons why being approved at the beginning of the home buying process is so important:

 1. Pre-approval for a home loan will determine your price range. Based on your down payment and that pre-approved mortgage amount, you’ll know what you can afford before you start looking. This saves you time and allows you to focus on houses that you can actually purchase. read more