Interest rates are low, and cash buyers are ready to go By Ron Wynn Sam DeBianchi of DeBianchi Real Estate discusses changing trends in the housing market, specifically what trends have changed amid the coronavirus. Depending on which report you read and on which day of the week, you can find conflicting quotes about the real estate market in certain areas. One thing agreed upon by all is that we are in a seller's market, and it's a good market for both sellers and buyers. Interest rates are low, and cash buyers are ready to go. On a more specific level, there are segments of the market that are hotter than others. Move-in-ready, entry-level homes are in huge demand, for...
Hippotecca Staff Forbearance is when your mortgage servicer or mortgage lender allows you to pause, suspend, or reduce your mortgage payments for a limited period of time while you regain your financial footing. Forbearance as always been an option available when you are experiencing a financial hardship. Rather than getting behind on your mortgage payments, damaging your credit and possibly losing your home to foreclosure, a homeowner can request a temporary Forbearance from their mortgage servicer or lender. Because of the Coronavirus and millions of homeowners losing their jobs and income, mortgage servicers have become overwhelmed with mortgage forbearance requests. Keep in mind a forbearance does not forgive mortgage payments or interest owed on your mortgage loan. Once your forbearance...
via beNICEmedia FICO factors in 5 things in the algorithm to produce a score based on those accounts. See below. 1. 35% Payment history-are bills paid on time? Collections reporting? (If you have a late reporting on an account, call and request a “goodwill removal” of the late and if a collection is reporting in the last 24 months, call and request them to delete it, if you agree to pay it or provide documentation you don’t owe it. Get it in writing. Record your call.) 2. 30% Credit Utilization -the amount reported once a month by credit cards as a balance versus the limit on the card. (Keep the balance between 5-19% of the limit...
Is bad credit holding you back? Brought to you by Housingwire.com As many young adults begin to reach home buying age, rising home prices and lack of inventory may not be the only thing holding them back from owning a home. In fact, many Millennials are choosing the urban lifestyle, and living in the core of the city as opposed to moving to the suburbs where affordability is much less of an issue. They prefer the urban lifestyle to paying lower mortgage payments in the suburbs. For those that do want to buy a home, however, credit scores may be a stumbling block. A recent TransUnion survey found that about 33% of Millennials, aged 18...
Is selling your home to an investor a scam? By Mateo Garcia - beNICEmedia As a home seller you want be educated on all of your options when selling a home, and how the process works when you do this. We have all seen and heard the numerous ads on TV, Radio and Social Media about selling your home directly to companies like OpenDoor, OfferPad, Zillow, and hundreds of others in your local market. Is this a scam where an investor is trying to buy your home for pennies on the dollar or an option to seriously consider when selling your home? How does selling your home to an investor compare to selling your home the traditional way through a Real...
