Listing a home for sale requires most home owners to roll-up their sleeves and do some work to make their home appealing in a buyer’s eyes. Kitchens are one of the first places buyers visit during open houses. If you aren’t able to do a...
Right now, consumers are usually charged for appraisal costs, but that might be changing. The Consumer Financial Protection Bureau (CFPB) recently proposed a new rule that would require mortgage lenders to provide free appraisal reports to applicants. The report would offer a deeper look at...
According to the real estate website Zillow, purchasing a home can pay off, on average, in just three years. In a new analysis they call the “break-even horizon,” Zillow explores the advantages of purchasing a home versus renting. Chief among the reasons are building your own...
HUD’s 203(k) program is a beneficial program that assists home buyers who are looking to rehabilitate and repair single-family properties. Eligible properties include one- to four-family dwellings that have been built for at least one year. Demolished homes can qualify as well, but must have...
A little imagination can go a long way in making smaller living spaces not just habitable but inspirational. Lofts, studios, condominiums and cottage-style single-family homes are excellent options for today’s price-sensitive homebuyers. Since they are traditionally smaller in square footage, challenges like lack of storage, limited...
The Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board recently extended the deadline for free foreclosure reviews until September 30, 2012. Home owners who think they would benefit from a free, independent review are encouraged to submit their requests now. The...
The real estate market is starting to show signs of a recovery, and many people are purchasing vacation homes because of favorable pricing. But many of the vacation homes that people are purchasing are close to their primary residences thanks to the rising costs of...
If fewer foreclosures create a brighter future for the housing market, Bank of America is doing its part to help out. This spring, a test segment of “underwater” BofA borrowers were invited to participate in the lender’s “Mortgage to Lease” initiative. Instead of enduring the...
Fannie Mae and Freddie Mac are tightening up their timelines when it comes to short sales and REO’s. Now, loan servicers that need more than 30 days to make a decision on a short-sale are required to provide weekly status updates and give a yes...
FHA Mortgage insurance premiums on loans higher than $625,500 have recently seen another increase. There was an FHA increase across the board for all loan amounts on April 9th 2012. In early June there was another monthly premium increase of 25 basis points to 1.50%...