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Rents are Rising is it Time to Buy

When Millions of Americans where losing their homes in this latest recession, many needed a place to live, and started moving into apartments and rental properties. That shift caused rents to soar.  Going back in History, it shows that since 1988 rents have doubled and are expected to continue to rise as long as the demand is there.

Well folks, Tax Time is now upon us again, and a lot of you will be getting a nice return, so those of you that have been saying you are tired of paying your Landlord's mortgage and would love to get a home of your own, what are you waiting for??  Every situation is different and yes some of you do not have a choice, however this is directed at "you" yes you, that do have a choice and just cannot muster up the courage to make the plunge.

Home values and Mortgage Interest rates are projected to continue rising in the next few years so buying now might make a lot more sence than...

Is it a Good Time to Refinance

         As you have heard on the News lately, interest rates are still at an all time low, but no surprise, experts are predicting that they will start going up in the near future with our improving economy.  If you now own a home and have no plans on moving, you may want to think seriously about Refinancing to a 15yr. Mortgage. While it may cost you a few bucks in the beginning, in the long run you will save a bundle, not to mention getting your home paid off a lot sooner at a lower interest rate and building a lot of equity at the same time.  Then down the road when, and if you decide to sell, that equity will come in handy toward your new home.  Talking with a Lender (which may I add will not cost you anything) can give you the exact figures on what you can save.

Here is a little more info on the state of our Housing Market. In 2015 experts...

Finding a good Team, when Buying your New Home

Based off of years of experience with the larger banks like Wells Fargo, Bank of America and Chase, only to mention a few. When you try to apply for a loan with them to buy your new home, you will be dealing with base line employees, which means they work per hour and get nothing more for meeting deadlines. Remember always, "You're the BOSS" when buying a home, and not meeting deadlines will cost "you" 1,000's, so it is in your best interest to meet all deadlines.

When you use an outside Mortgage Rep. they are paid by commission and get nothing till the home goes to closing, so it is in their best interest to get you there as quickly as possible. Again they get nothing if the loan does not close as it should. 

The interest rates on a loan can change hourly based on numerous factors and the interest rate you get on a loan determents what your payment will be so the higher the rate, the higher your payments, this could mean paying 30K to 80K more in interest over the life of the loan. ...

FHA Delinquencies on the Rise in September 2012

As of September 2012, the Federal Housing Administration has seen a 17.3% rise in the number of delinquent mortgages it holds. The October 2012 edition of FHA watch showed that the FHA has lost $28.3 billion in written off mortgages, if the GAAP standards imposed by privately run businesses have been complied with. With a 4% capitalization taken into account, the FHA stands to lose up to $67 billion this year.

When the FHA formed in 1934, down payments with a 20 year mortgage were reduced from 50% to 20%. However, this momentary stability was altered when congress, in the 1950s, permitted the FHA to allow a 30 year period of 95% LTV, which meant that, for the first time, borrowers had to fork out only 5% of the down payment. Thus, purchasing houses became easier and house sales blossomed. This came with the unprecedented consequences of increased foreclosure and...

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