Home for Sale By Owner in Cherry Hill, NJ 08002 - Flat Fee MLS Listing $395 16 Knoll Ln Cherry Hill, NJ 08002 - Realtors welcome, buyer agent commission paid at closing !Please check listing details here at MLS# 5846666. 4 beds, 2.5 bathrooms This spacious two story colonial (One of Largest in Neighborhood) has newly finished hardwood floors throughout with new wall-to-wall carpeting in the Den and Living room. New kitchen with updated appliances and television. Brick fire place in family room. Newly installed crown molding and plantation blinds in Dining Room and Living Room. Large Master Bedroom w/private bath and large walk-in closet w/window. Full, unfinished basement has perimeter drain system w/ Sump Pump. Large fenced backyard with concrete patio across entire rear of House. Rece... 06/19/2011

Mortgage rates are falling, falling, falling. On a wave of uncertainty about Greece and its debt; and weaker-than-expected economic data at home, conforming 30-year fixed rate mortgage rates have fallen to levels not seen since December 2, 2010. Mortgage rates have dropped 8 weeks in a row. Not even last year’s Refi Boom produced an 8-week winning streak. This season’s streak is historic. The 30-year fixed rate mortgage now averages 4.49% nationally, down 42 basis points, or 0.42%, since early-April. For every $100,000 borrowed, that equates to a monthly savings of $25.24. Adjustable-rate mortgages have shed even more, giving back 50 basis points since the streak began. Because of low rates, it’s an excellent time to buy or refinance a home relative to just a few weeks ago. Note, thoug... 06/14/2011

  Fannie Mae HomePath Loan Program – Another great method of financing With so many types of financing options, not all are discussed by loan officers. Many loan officers don't know much about such programs as USDA, The Fannie Mae HomePath, or My Community. The HomePath program is not known by many and is underutilized. Not only does it allow you to put 3 percent down with no MI, monthly mortgage insurance, but that you can get very good homes at discounted prices.   Highlights of the Home Path Program Minimum of 3 percent down Down payment can come from borrowers own funds, gift, grant, special loan programs from local or state government, loan from a non-profit, or employer No appraisal is required – Property sold ”As Is” –  I personally suggest a home inspection No monthly mortgage ... 06/13/2011

  Shopping for Mortgages & Shopping for Interest Rates Smartly You now want to buy a home and need a mortgage. You would think it would be easy to call around to mortgage companies and ask, “What is today’s interest rate”. Sounds simple, right?  Au contraire mon frere…. On the contrary. There are a few misconceptions that many have when shopping for interest rates. That all lenders have one basic rate to offer That big lenders or big banks have better rates than smaller lenders and can give discounts That referrals will get you a better interest rate     All lenders have many different types of interest rates, which is dependent on many different factors. The end result, all rates should be relatively close, as long as you aren’t being deceived or that your rate will be baited and swit... 06/10/2011

  Mortgage Market Report - Interest Rates hit historic low for 2011 As of yesterday, mortgage interest rates were hitting historic lows for 2011. Today was the key focal point if rates were to continue to go lower based on non-farm payrolls and on unemployment.  As of this morning, the news is reporting that non-farm payrolls only increased by 54,000 in May, significantly less than 150,000 increase that the economists had been expecting. Regarding the private sector, private employers only added 83,000, instead of the 180,000 that was anticipated. And unemployment rose from 9.0% to 9.1% the month prior. Depending on your credit scores, the type of mortgage, your down payment, and your loan amount, interest rates yesterday were from 4.375% to 4.875%. As of right now, the FNMA 30 year 4.... 06/03/2011

Home for Sale By Owner in Cherry Hill, NJ 08003 - Flat Fee MLS Listing $395 412 BROWNING LN in Cherry Hill, NJ 08003 - Realtors welcome, buyer agent commission paid at closing! 4 Bedrooms, 3 Bathrooms WALK INTO A PICTURE PERFECT PARK-LIKE SETTING OF OVER AN 1 AC. YARD INCLUDES AN IG POOL, HOT TUB, CALIF. STYLE DECK W/ BUILT-IN BENCHES, TABLES, FLOWER BXES, CABANA, & 2 EQUIPMENT SHEDS. ORIGINALLY A LOVELY CAPE COD-- NOW W/SIGNIFICANT ADDITIONS, OAK FLRS, C/H COL FOYER LEADS TO 2ND FLR. EXQUISITE VIEWS FROM ALL RMS & CROSS BREEZE WINDOWS. 4 BRS, 3 BATHS, 4TH BATH IN CABANA. LRG ATTIC, FINISHED PANELED BMST W/DRY BAR, 1ST FLR LAUNDRY W/EXTRA FRIDGE, W/D, CABINETS & SHELVES. MANY BUILT-INS, WALK-IN CLOSETS. 2 ZN FORCED AIR OIL HEAT & CA. ATTACHED GARAGE, WIDE ASPHALT DRIVE. KITCHEN-PRESTIGE... 06/02/2011

Understanding Mortgage Insurance and the different types The keys to home ownership can be tricky and confusing, unless handled by a true professional loan officer. You’ll sometimes hear loan officers and or realtors talk about one mortgage program over the other, telling you how great it is or that the monthly mortgage insurance is less than the other program. But wait, one main ingredient is still missing in this whole equation. What are the credit scores, aka fico scores. Why is this important? When comparing a conventional loan to any other type of mortgage loan, many of the MI companies (mortgage insurance) will have certain restrictions when it comes to credit scores, the percentage of the down payment, and area restrictions.   Let’s quickly look at the four major types of mortga... 05/19/2011

Single-family housing starts dropped by 21,000 units in April on a seasonally-adjusted annual basis. The Housing Starts report measures the number of homes on which new construction "broke ground". It's tracked by the U.S. Department of Commerce which releases new data monthly. Single-family housing starts fell 5 percent as compared to March 2011, and 30 percent as compared to April one year ago.  The figures were worse than what Wall Street expected. For just the second time in 2 years, monthly single-family housing starts dropped below 400,000 units. In addition, single-family Building Permits fell in April as well, shedding 2 percent from March. A building permit is a local government's approval to start home construction and when permits are down, new construction follows. This is b... 05/18/2011

  Do you feel that today's mortgage gudelines are hurting realtors from selling more homes? Do you think it could be the buyer not being in a good position?   People, I get the fact that lending guidelines have become more strict over the last 12 months. I think I have seen it all in the 18 + years that I have been in the mortgage business. But in my honest opinion, I think the biggest hurdle has been the credit score requirements. But is it a challenge that can be over come in a short time period? Read more for my answer/opinion on this topic.       What prompted me to write about this was this article by Christine Ricciardi - Real Estate agents want subprime alternative for too-strict underwriting - Here are a few statements from the article.   I wish I could have interviewed all of ... 05/14/2011

Foreclosure activity continues to drop nationwide. Based on data from foreclosure-tracking firm RealtyTrac, foreclosure filings nationwide fell below 220,000 in April 2011, a 9 percent decrease from March. A "foreclosure filing" is defined as any foreclosure-related action including Notice of Default, Scheduled Auction, or Bank Repossession. April marks the seventh straight month in which foreclosure filings have dropped and total filings are down more than one-third year-over-year. One reason why filings are down is that banks are letting more time pass between delinquency and foreclosure, exploring alternative courses of actions such as short sales and loan modifications. It now takes, on average, 400 days from an initial default notice to bank repossession. That's more than double th... 05/12/2011

A major thing to consider these days before starting your next home improvement project is if the cost to do the work will be reflected in your homes value. This is even a more important if you think you may be listing your home for sale in the near future. Who is doing the actual work? A major expense in a home improvement project is the labor cost. If you are doing all or the majority of the work,You are more likely to have a project that adds more value than cost to your home. Is your home dated? The kitchen and bath area's are the quickest way to make your home look more modern and will absolutely help your home sell. It is possible to not get a full return on your investment here but updating these areas will help your home sell faster. Finish the unfinished. A great way to add val... 05/11/2011

  With housing prices down across the country, there are a lot of homeowners barely breaking even on their respective home sales. Some are even losing money. You may find yourself in that position, too; wanting to sell, but worried about bringing cash to your own closing. It creates an interesting dilemma. You want your home to "show nicely" relative to comparable properties, but you don't want to invest big dollars that may never be recouped into upgrades or renovations. So what do you do? The answer is simple. Do the bare minimum. From an advice piece in the Wall Street Journal, we learn of 10 basic home improvement projects that will help your home have better showings. The advice requires almost no technical skills, and the projects be tackled in a weekend. The theme? Hand... 05/10/2011

  Did you know that one of the popular loans right now is the 30 year fixed "no closing costs loan". Some lenders want you to think it's a magic trick. Today I'm going to reveal to you how it's done. Here's how it works. The loans come at a slightly higher interest rate and then the lender pays your closing costs with the bonus they get by quoting you a higher rate than a "you pay the closing costs" loan. Don't get me wrong, I think this is a great program and recommend it for many of my clients. For example, let's say you have a $200,000 loan at a 7% interest rate. If you refinance to a 6.25% rate, it would save you about $98 per month. But, if the closing costs would then be $3,000, it would take about 2 1/2 or 3 years to break even on the costs. In other words, it would take about 3... 05/09/2011

If you have a conventional mortgage, and put less than 20% down when you purchased your home ( or less than 20% equity when you refinanced your home ) your monthly payment includes "mortgage insurance". Depending on your interest rate, for a 30- year term mortgage and if you put 5% down payment, it will take approximately 11 years to reach 78% loan to value; with 10% down, it will take you about 9 years, and with 15% down, 6 years. If you have an FHA mortgage, mortage insurance is automatically included in your monthly payment. Both types of loans have certain rules where mortgage insurance must be eliminated after a certain period of time - and under certain conditions. Dropping Conventional Mortgage Insurance Rules: Automatically Deleted When: Mortgage balance is reduced to 78% LTV LT... 05/08/2011

In an echo of February’s Case-Shiller Index report, the government’s own home price-tracker — the Home Price Index — showed home values slipping between January and February 2011. The Federal Home Finance Agency data had home values down 1.6 percent nationwide in February, on average, marking the fourth straight month in which prices fell. Furthermore, all 9 regions posted losses from the month prior: Mountain Region : -3.7% from January East South Central : -0.6% from January South Atlantic : -0.9% from January New England : -2.0% from January Before you draw conclusions, however, note that the data at which we’re looking has several major flaws to it. First, it’s old. We’re now in the first week of May and the FHFA’s most recent release only covers through February, a time period end... 05/07/2011

Be prepared for Friday morning. Mortgage rates and home affordability could worsen quickly. At 8:30 AM ET, the Bureau of Labor Statistics releases its April Non-Farm Payrolls report and momentum has been strong. The monthly jobs report is a market-mover and analysts expect that 196,000 new jobs were added last month. If those expectations are exceeded - by even a little - Wall Street would take it mean "economic strength" and the stock market would be boosted. Too bad for rate shoppers, though; a move like that would also lead to higher mortgage rates throughout Pennsylvania. This is because, coming out of a recession, reports of economic strength tend to push mortgage rates up. We've seen it happen multiple times in the last 8 months. Since losing more than 7 million jobs between 2008... 05/05/2011

Without question, today's real estate market is considered a buyer's market. By understanding the reasons why people are having trouble getting a mortgage, you can make sure that you are in position to buy. Learning these issues that others may have encountered you can make the whole home buying process much more enjoyable.  I have said over and over again that buying a home is the largest purchase that you will make... by educating yourself it does not have to be the most stressful purchase you make.   Credit - This is the first item that your lender will look into. My advice would be to check your credit history. There could be items on your report that are old and not reporting correctly that could really hurt your chances of becoming a home owner.  There are plenty of services avail... 05/04/2011

  Among the most challenging aspects of shopping for a mortgage is how rates change constantly. It's hard to pin them down. For example, in 2011, mortgage rates have expired every 3-and-a-half hours, on average. That's fast. There's two main catalysts for changing mortgage rates. The first can be grouped as "scheduled events"; the planned release of market data which includes the Existing Home Sales report, or a scheduled government statement such as when the Federal Open Market Committee meets. When the outcomes of these event-types either exceed, or fall short, of Wall Street's expectations, mortgage markets react. Home buyers and rate shoppers in Voorhees realize this as higher (or lower) mortgage rates. Then there's the other type of catalyst - the "unscheduled event". Unscheduled e... 05/03/2011

Last week marked the 3rd consecutive week through which conforming mortgage rates dropped, the longest such streak since February. Mortgage rates in Voorhees are now scraping their lowest levels of the year. A few interesting stories developed last week. First, the Federal Open Market Committee met and voted to hold the Fed Funds Rate within its target range of 0.000-0.250. In its post-meeting press release, the FOMC said that inflation has been “pushed up” in recent months, but that believes, long-term, that inflation will moderate. This message pleased the inflation-sensitive bond markets, the place where mortgage rates are made. Bond prices rose in response, and mortgage rates fell. Then, because markets believe Greece can’t meet its current debt obligations without restructure, a bo... 05/02/2011

This is now something that needs to go under consideration buy your buyers. The lender paid option will not work for every buyer that you have but for the ones with the higher fico's there is now a new option for them. Here is a quick break down on what customer would fit this lender paid mortgage insurance option. The MI companies will do it with a 660 FICO but we are all well aware of investor over lays so i would really keep it to 680 and above. Price ( rate adjustments) really won't come into play with any borrower with a 720 or higher fico score. I broke down a scenario here to help show what the lender paid mortgage insurance option can do for the right buyer: $200,000 purchase price, 730 fico score, $4500 annual real estate taxes, and $850 annual home owners insurance. Let's see ... 05/01/2011