Early in your loan application process, your lender will arrange for a home appraisal. Borrowers are sometimes confused about this process. They have a pretty good idea about what the home they want to buy is worth but the appraised value can sometimes be very different from that number. Continue reading What’s involved in the Home Appraisal Process?→
Regardless of whether you believe that the so-called Great Recession was caused by reckless and irresponsible mortgage lending or government perversion of free markets by encouraging banks to make risky mortgage loans to people with questionable credit and practically no down payment or a combination of the two, one thing is irrefutable;
The government has created a whole new bureaucracy called the Consumer Protection Financial Bureau (CFPB) whose authority is far reaching and made possible by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).
According to the statistics recorded in the Triangle Multiple Listing Service there’s good news and there’s really bad news for the Raleigh Real Estate Market. I prefer the bad news first because it always make the good news sound just a little bit better so here’s the bad news;
Median & Average Sales Price Declines in Raleigh by double digits
One of the booming cottage industries that has emerged from the Great Recession is credit repair companies. Most are by the same people who flew the sub prime mortgage industry into the ground lying to home buyers about their ability to refinance out of a high cost mortgage into a more affordable long-term mortgage in just two short years once their credit improved. Continue reading How to DIY Credit Repair Tips→
a first-time home buyer is defined as someone who has not owned a primary residence in the three-year period ending on the date of purchasing the home. Married couples are considered first-time buyers if neither spouse has owned a residence in the previous three years.”