For every homeowner who is upside down on their mortgage, this is for you. An upside down mortgage is when somebody owes more on their mortgage balance than their home is worth, hence the term underwater. People who are underwater on their mortgage have limited options unless their mortgage loan is owned by Fannie Mae…
Ever begin shopping for a mortgage loan and then realize the mortgage company you selected isn’t the right fit for you? If yes read on…. Everyone wants a combination of the best interest rate, fees and terms available on any given day for their mortgage loan scenario. Whether a purchase scenario or a refinance scenario,…
The decision to buy a home is a smart one. Real estate prices have never been more affordable and interest rates have never been lower creating a win-win scenario for people entering the market. Many people ask the question “how do I purchase a home? If you’re thinking about buying a home here the eight…
The role of the second mortgage in a refinance situation can sometimes be a challenging obstacle to overcome. Second mortgages usually come in the form of a (HELOC) home equity line of credit or an equity line behind a first mortgage secured against a primary residence, second home or investment property. As values in Sonoma…
New home construction communities continue to offer many incentives to people looking to upgrade their level of homeownership. For many, the idea of being able to purchase a brand-new home with upgrades and have a turnkey real estate experience is an offer too good to pass up. New homes are run by large construction companies,…
Newspapers, the Internet, television and media sources are not the best places to research accurate mortgage interest rates. Advertised mortgage rates are just that, they’re advertised. Real mortgage rates are something else entirely and can change multiple times daily. The reason why you need to be aware of advertised mortgage rates is because the information…
Now is not the time to put the brakes on the home search! If you are pre-approved to purchase a property and are subsequently looking for homes, do not give up and start saving for closing costs. That is a losing proposition in this marketplace. We are in the month of November, Thanksgiving is right…
Congratulations purchase contract is accepted and you are now officially “in escrow”. You go ahead and send in all of your financial information to your mortgage lender, a few days goes by and you get some not so pleasant news. The loan has been counter approved requiring some changes to the mortgage loan program and…