Mortgage Rates Are Rising and Buyers Are Hesitating While rates will remain low for the foreseeable future, the numbers are starting to creep back up from their rock-bottom positions. The rising rates are partnered with lower demand for mortgages over the last week. It is too early to tell whether this is a temporary dip…

Lenders Are Keeping High Standards For Mortgage Approval The 2008 housing crisis was fueled by a surge in risky lending practices throughout the mortgage industry. The current boom may cause a bubble, but it won't be a credit bubble. Only applicants with great credit profiles are currently receiving mortgage approvals. This is the time to…

The Refinancing Window Is Closing Interest rates are creeping up and property values are starting to fall from their peak. Homeowners hoping to capitalize on an equity spike need to get their refinancing deals settled now. If you are considering listing now, put your house on the market today. However, potential buyers may benefit…

Ginnie Mae Offers A 40 Year Mortgage Modification To Struggling Homeowners As the forbearance programs come to an end, Ginnie Mae is rolling out a new mortgage program that could provide a permanent solution for financially challenged homeowners. By extending the life of the mortgage, monthly payments are significantly reduced. The forbearance program enrollment ends…

Fannie Mae Will Consider Rental History For Applicants With Thin Credit Fannie Mae is adding a new feature to their automated underwriting system. If you have been paying your rent reliably and this is reflected in your submitted bank statements, the app will automatically identify your rent payments and consider them as part of your…

A Better Renovation Loan Is Available The nation's housing supply is aging, so that new house you want to buy more than likely needs some repairs. Homeowners typically take out a second loan for renovations or put the cost on credit cards. The credit terms for the renovations are usually much less favorable than the…

This Is The Time To Sell or Tap Your Equity Fall usually brings a decrease in activity in the real estate market, and home prices tend to fall during this time of the year. While we are still in the midst of an unprecedented rise in real estate prices, the market is cooling off slightly.…

Homes Are Selling In Days After Being Listed There is currently more demand for homes than there are homes on the market. Not only is this driving up prices and creating bidding wars, it is also drastically reducing the time it takes to sell a home. If you list, be prepared to move fast. Sellers…

The Current Housing Boom Is Correcting The Underwater Mortgage Trend Real estate prices have been driven up by a surge in demand and a lack of new construction. For the first time since the housing crash in 2008, some homeowners have the chance to get out of their underwater mortgages. Despite the fact that…

An Aggressive New Mortgage Assistance Program Is Part of the American Rescue Plan The Biden administration is launching the Homeowner's Assistance Fund as part of the American Rescue Plan. States will receive block grants to provide mortgage assistance, and lenders will be required to offer the aggressive new mortgage modification program to all borrowers.…