Archive for February 2012

A revision to the monthly mortgage statement was suggested by the Consumer Financial Protection Bureau (CFPB), proposing that it be laid out in plainer terms to comprehend for homeowners. A sample statement has been provided by CFPB to gather the collective opinion on the alterations made. Richard (more…)

In qualifying for a loan, foreclosures and short sales can cause almost as much damage as filing for bankruptcy. Over 4 million homes were lost to foreclosure since 2006, when the housing market fell. Several previous owners are beginning to question when they can buy again. Those (more…)

Mortgage rate leave behind their record lows for the first time in three weeks. Freddie Mac attributes this to the slight growth experienced in the housing market, such as the decline of Loan delinquencies and foreclosure inventory. According to Freddie Mac, as of February 23: 30-year fixed-rate (more…)

A bill to increase the pace of the short sale process was introduced by Senators Lisa Murkowski (R-Arkansas), Scott Brown (R-Massachusetts), and Sherrod Brown (D-Ohio), on February 17th. This proposal was made in the hopes of evading more homes falling into foreclosure. The President of the National (more…)

Mortgage Bankers Association (MBA) recorded during the fourth quarter in 2011, the lowest number of mortgage delinquencies since 2008. MBA’s chief economist, Jay Brinkmann, commented “Mortgage performance is improving faster than the overall economy.” In 2010, the amount of homeowners 30 days behind on payments topped out (more…)

Not only is Idaho overflowing with a wealth of outdoor recreational activities and natural beauties, but it’s also a great place to establish your home and career. The Department of Commerce for the State of Idaho prepared a list of statistics sharing the recognition that Idaho has (more…)

The National Association of Home Builders/Wells Fargo quantified the nations financial means in attaining a home, with a Housing Opportunity Index (HOI). They discovered that families who bring in an average income of $64,200, can sustain the purchase of 75.9 percent of all new and old homes (more…)

Searching for and purchasing a new residence can be difficult and frustrating. Here is some advice on riding out some of those trials: Broker and owner of Buyer Agents in Boston, Gary Dwyer noted that “the seller wants to know that if they do accept the offer, (more…)

Alleviated credit standards and availability are the primary reasons why Capital Economics, a leading independent macro economic research consultant agency, believes this year will see the end of the housing crisis. Currently, 700 is the average credit score needed to qualify for mortgage loans; with no real (more…)

Did you know that the following can effect your credit score? Small unpaid debts. Municipalities and even library fines can and have been known to report delinquencies to credit bureaus. Any unpaid dues can effect your credit score. Unpaid tax liens stay on your credit history for (more…)