Housing Wire

AUGUST 30, 2022

The next job loss recession, when it happens, will have more foreclosures, short sales, and bankruptcies. The 2005 bankruptcy reform laws and the 2010 Qualified Mortgage laws, once passed, created an expansion that has produced the highest quality homeowners in our lifetime.

Bankruptcy 384

Bankruptcy Days on market Sales Short sale 384

Housing Wire

DECEMBER 8, 2021

Not even 5% mortgage rates in 2018 budged this data line too much. ” Getting ahead of this flawed premise, I wrote a series of articles that point out that this isn’t the credit bubble of 2002-2005, and the loans post-2010 were good. Higher mortgage rates haven’t materialized as expected. However, it’s not happening.

Bankruptcy 518

Bankruptcy Loans Sales Short sale 518

RIS Media

JANUARY 29, 2021

Lenders offer mortgages for borrowers with a wide range of financial circumstances. Between prime (highest-quality) and subprime (lowest-quality) home loans are a category called “Alt-A mortgages.” . The federal government sets guidelines for Qualified Mortgages that focus on a borrower’s ability to repay the loan.

Debt-to-income ratio 93

Debt-to-income ratio Mortgages Bankruptcy Loans 93

HomeLight

DECEMBER 1, 2021

Whatever the circumstance, you should act early if you’re suddenly struggling to make your monthly mortgage payment. We also connected with HomeLight Home Loans Mortgage Sales Leader Richie Helali, who offered an insider’s look at mortgage options that could help you hold on to your home — or let it go without falling into foreclosure.

Purchase and sale agreement 104

Purchase and sale agreement Short sale Loans Mortgages 104

HomeLight

JULY 31, 2020

Loan approval. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process. Dodge move.

Closing 108

Closing Purchase and sale agreement Title search Earnest money deposit 108

HomeLight

MAY 24, 2022

Mortgage interest is tax-deductible , and many homeowners appreciate the deduction. If you only pay cash for the down payment, and take out a mortgage for the remainder of the purchase price, it keeps more money in your pocket. But just how long does it take to close on a house with cash, compared to a traditional loan?

Purchase and sale agreement 102

Purchase and sale agreement Closing Title search Title 102

HomeLight

JULY 29, 2022

When you’re buying a house, the list of what can go wrong at closing includes everything from issues with the mortgage loan and buyer’s credit, insurance snags, appraisal problems, title claims, and events beyond everyone’s control (such as natural disasters, or buyer or seller illness or death).

Closing 103

Closing Purchase and sale agreement Title Home sale contingency 103

HomeLight

JANUARY 13, 2022

An appraisal contingency allows a buyer to walk away from a sale if after an appraisal is completed if the value of the home is found to be less than the purchase price. You’ll likely need this type of contingency even if you’ve been preapproved for a mortgage as that process does not guarantee that you’ll get a loan.

Backup offer 75

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 75

HomeLight

OCTOBER 29, 2020

When you use a mortgage to buy a home, your lender will need to order an independent appraisal to evaluate what it’s worth. That’s why financed offers come with appraisal contingencies — the loan can’t clear until the home has been appraised and the lender knows they’re not lending you too much for the home. Home appraisals.

Purchase and sale agreement 78

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 78

HomeLight

MAY 23, 2022

Schaus does business in the area of Fort Bragg, which means that Department of Veterans Affairs home loans ( VA loans ) are used very often by buyers. Be aware of minimum property standards for certain loans. Say they got an offer for $135,000 cash, but also a VA loan offer for $135,000. Pros of listing a home ‘as is’.

As-is 83

As-is Purchase and sale agreement VA loan Inspection 83

The Close

MARCH 15, 2022

However, unlike in 2008, this time it’s not from unqualified buyers who are buying property with subprime mortgages. One year later, in September 2008 when Lehman Brothers—the nation’s fourth-largest investment bank—filed for Chapter 11 bankruptcy, it signaled the start of the largest real estate crash of our lifetime.

Agents 98

Agents Investor Banks Land 98

HomeLight

JULY 31, 2021

According to the latest data from Ellie Mae, the purchase loans are taking an average of 50 days to close as of May 2021. The CMA does a deep dive into how your property stacks up against the sale prices of nearby homes that are similar in size, style, age, and features. Be careful of signing with a wholesaler. Order a home appraisal.

Earnest money deposit 98

Earnest money deposit Inspection Proof of funds Inspection contingency 98

HomeLight

AUGUST 10, 2022

Founded in 2014 , We Buy Houses Hotlanta is a family-owned operation that advertises Creative Real Estate and Short Sale certifications on their website. It’ll also buy from sellers in any situation such as being upside down on a mortgage. Sale timeline. 115 days average; 61to attract an offer, 54 to close the loan.

Closing costs 74

Closing costs Purchase and sale agreement Closing Inspection 74