Sherri 's Blog

This is a much needed legislative change in MN.  Our state needs to do away with deficiency judgments for those who have exercised a short sale.  Contact your state representative and be heard! In some regards, the MN legislature was ahead of the curve on the mortgage and housing crisis. They re...

You've just completed the renovations.  New paint, carpet, kitchen, bathrooms, you name it.  You took a nasty dwelling and completely transformed it into "home-sweet-home" for that buyer lucky enough to reap the benefits of your hard work and skill.  AND YOU DID IT IN RECORD TIME.  Two months aft...

Hey All, It is time again to take action.  Yes, this is in regard to YOUR INCOME...YSP and SRP.  This is in regard to having the ability to continue to offer valuable services to our clients.  This is about NOT letting our government create order takers out of us by being paid no better than a mi...

MN homeowners, like so many other states, are facing this same dilemma.  What should I do?  How do I protect myself?  What is the best recourse for my own personal circumstances? Should I refinance under HARP? Should I modify under HAMP? Should I try to short sale my home?  Heck, what IS a short ...

I'm certainly not an appraiser or an expert on home values, but being in the biz as long as I have, I do have a fairly good understanding of appraised home values and the ever restrictive lending requirements behind it.For many who have had an appraisal done in the past year or so, may be able to...

Just purchasing a home and it needs a few repairs?  Or perhaps you are already a homeowner in need of funds to "fix up" your castle? Either way, you may want to stay away from the sometimes expensive rehab loans and look to the State as a wonderful alternative. The State of MN offers a very attr...

Amidst the rising foreclosures in our country, the Federal Housing Administration has seen dramatic losses and its reserves have fallen below Congressional required levels.  In response, FHA is raising fees and tightening lending standards in an effort to bring more revenue to the agency and cont...

Mortgage Client:  "I'm confused.  I don't understand.  None of this makes sense.  This paper does not even give me the numbers I need to know."Loan Officer: "Why, Mr. and Mrs. Mortgage Client, you are absolutely correct...all this confusion compliments of our wonderful government and their ivory ...

Short Sales and Deed in Lieu of Foreclosure (commonly referred to as Cash for Keys) have received major attention on the Hill. The Feds are stepping in AGAIN, perhaps to the advantage of everyone...homeowners, buyers and the real estate community.  In an effort to curtail foreclosures, the Feds h...

If there is one question that I get asked the most, it is "Sherri, how low will mortgage rates go?"  Or another version, "Will interest rates go down further?" Let me start by saying, THAT is the million dollar question.  In the last 3 weeks, I have seen 30 year fixed rates as low as 4.375%, only...