100% financing has been getting tougher and tougher to obtain.  With the downturn in the real estate market, and mounting losses for lenders and others, standards have tightened up, and only the most well qualified buyers are able to obtain 100% financing, but it has still been available.  That may not last much longer.
PMI Group […]

Posted in Current Events 2 Comments »

 
Contra Costa REO real estate sales are at all time highs.  The same is true all over.  REO property is starting to sell as the banks face the reality of the current housing market.
REO property is property owned by the bank because it did not sell at foreclosure.  The bank could not sell the property […]

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30 year fixed rate mortgages are soon to become much easier to obtain at the higher loan amounts.  If you have been paying attention to the news, you will have noticed that the economic stimulus package has passed both the house and the senate.  President Bush is set to sign it into effect next week.  […]

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Why can’t I qualify for a loan?  I get this question from borrowers a lot these days, with the tighter lending standards and the demise of no doc loans.  In addition to credit factors and loan to value issues, one of the major issues today is the DTI ratio.  I believe it is important for […]

Posted in Borrower Resources, Terms & Definitions No Comments »

 Refinancing your home is the process of paying off your existing loan with a new loan, preferably at favorable terms. There are plenty of advantages to refinancing your existing home loan; to extend the repayment time of your existing loan,  to lower your existing monthly payments, to remove an adjustable feature or to take cash […]

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