Dec 15
30 year mortgage interest rates headed higher this week over last week, following U.S. Treasury yields move higher. This is the second consecutive week of increases. Even with the increase, today’s mortgage interest rates are still incredibly low and will probably hover around these ranges until the first quarter of 2010.
Current 30-year mortgage rates increased to 4.97% this week, a slight increase from last week’s average 30 year rate of 4.95%. This week is the fifth consecutive week 30 year mortgage rates stayed below 5.00% in MBR’s Weekly Mortgage Rates Survey. An all-time low of 4.85% was set the week of November 30, 2009.
15 year mortgage rates remained unchanged at 4.40%. This is the seventh consecutive week 15 year mortgage interest rates remained below 4.50%. An all-time low of 4.35% was set the week of November 30, 2009. The most recent high of 5.20% was set back in June of 2009.
Tagged with: Loan Rates • Mortgage Rates
Nov 12
Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:
• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
• Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.
Tagged with: Real Estate Tax
Oct 06
When trying to contact your lender to work out a payment plan or some other deal, knowing who owns your mortgage can be very helpful. Unfortunately finding out is not as easy as it sounds since more often your mortgage lender is not the one who owns your mortgage. I have my mortgage with Wellsfargo bank, as it turned out, the record shows that Freddie Mac is the owner of my mortgage and Wellsfargo as an investor.
Chances are your loan is backed by either Fannie Mae or Feddie Mac. You can try the following links to check out if your loan is with these two agencies Fannie Mae’s Weblink and Feddie Mac’s Weblink. You can also call 1-800-7FANNIE and 1-800-FREDDIE.
If you have an FHA loan, contact FHA’s National Servicing Center to determine who owns your mortgage: (800) CALL- FHA or send an email to hsg-lossmit@hud.gov
One of the most important steps to saving your home from foreclosure is to get in touch with your lender immediately. Better yet, hire a qualified attorney with experience in foreclosures and loan modifications to contact your lender on your behalf, so you have legal representation on your side.
Oct 06
Business Opportunity to own an Auto Parts for Free. Considerable Goodwill Value is Free, just buy the wholesale inventory for $79000. Owner would like to retire after over 40 years in the business. Prime location on Keyes, this store has done no advertising or marketing, which could be a nice upside for new owner. Great opportunity to do Auto Parts business. Low rent, owner is also owned the building. The retail space can be used to configure for other businesses. Owner is motivated.
Please contact listing Agent Alan Nguyen at 408-835-7743 or email me at alan@i2realty.com for more information.
Jul 24
So you found a bank owned property and you want to finance it with a mortgage loan. Here is the dilemma. Bank owned properties typically need repairs, but sellers want to sell it as-is offer. Meanwhile, your lender wants you to make repairs before they will approve the loan. So what can you do?
Add repair costs into your offer. Ask your lender what items would require to fix so you could get an estimate the cost of repairs. Once you have an estimate, add it to your offer price, then ask the seller to credit you for repairs.
It’s essential to ask these concessions at the beginning. Once you have presented the offer, it is impossible to ask for addition concessions. If you make it simple to the seller, it is easier they will entertain your offer.
