With only 3 1/2% down will they bail when housing prices drop again in two years? Will the people with Conventional loans hang in there? Will the banks and the government own all the homes? Will we become a company state. Where as the house, car, food stores and job you have are all be company ow...

09/20/2009

Short Sales AKA Long Sales

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I started this “SHORT SALE” in November of 2008. The seller had started BK after trying to get a Loan Modification. It took me two months and countless phone calls and Fax’s to get it out of B of A, BK department The first offer was submitted January 4, 2009. After 4 months phone calls 2-3 ...

09/12/2009

First Time Home Buying 101 REO's Sept 2009

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1. Decide what area you want to start your home search. 2. Know what your price range is. 3. Rule of Thumb: You can afford housing costing up to 2.5 to 3 times your annual income. SAVE up for a down payment. You need 3.5-5% for FHA and 10% down for conventional, and 20% down avoids extra co...

09/07/2009