Typically, although not always, short sales are reserved for situations of extreme financial hardship; just prior a bank beginning foreclosure proceedings.
Short Sale : How Do I Write A Hardship Letter?
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Category Archives: The Economy
Coming Soon : New, Mandatory Loan Fees For All Conforming Mortgages
Guarantee fees are fees that mortgage-backed securities providers charge to lenders for mortgage-related services including the bundling, selling and reporting of mortgage-backed bonds. Continue reading
The Treasury Market is Getting Better Today. So Why Aren’t Mortgage Rates Getting Better Too?
Click on the Photo for Enlarged Version. Much easier to read!
With last Friday mornings report, the Bureau of Labor Statistics released its Non-Farm Payrolls report. More commonly called “the jobs report”. Depending on the strength — or weakness — of the data, mortgage rates will change. As expected, the numbers were not as good as we hoped for and money started to flow into the “safe haven” of mortgage bonds. Continue reading
Mortgage Rates Climb Sharply After Retail Sales Report
As reported by the Census Bureau, Retail Sales in February, excluding cars and auto parts, rose 1 percent to $335 billion as 11 of 13 retail sectors showed improvement last month.
February markets the 19th time in twenty months that U.S. Retail Sales increased on a month-over-month basis. Couple this with 24 consecutive months of job growth and you have an economy that is showing some fight! Continue reading
Lock Your Mortgage Rate : New Loan Fees Expected Within Days
As a Lender in Natomas, California, I am prepping my clients for higher fees. 13 months ago, as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Congress enacted a one-year cut to FICA payroll taxes. Continue reading