I’ve always said that I love mortgage lending because each situation is different and unique. It’s an art, not simply a science. That holds very true as it pertains to financing following a foreclosure, short sale or bankruptcy.
Thank you to those who joined us last night for our MN First Time Home Buyer Class. We always enjoy the energy our attendees bring, and the questions they ask! Below we are giving you a sneak peek at a couple answers to some great questions that were asked!
In light of the economic and market conditions that many of us have not experienced in our lifetimes, FHA has decided to create new guidelines to allow consumers who have been affected by catastrophic economic events to re-enter the world of homeownership if they meet certain requirements. FHA has shortened the waiting period to buy your first home or another home…so are you ready?
You should attend this event if: You want to know the best ways to take advantage of current market conditions, you want to buy, but you’ve had prior credit or financial issues, you want to sell your home or move up, but own more than your current home is worth, you are on-time with mortgage payments, but underwater or, you’re in a housing crisis right now.
Are you a home owner in crisis? Do you have questions you need answers to about how to navigate through? Join the Woodbury Community Foundation and leading industry experts, get answers and discover how to make the best choices for your financial and housing situation at this Housing Solutions Summit. Our own Heidi Pavelka will be speaking about mortgage lending options, special mortgage programs and credit.
If you purchased or refinanced your home within the last 10 years in Minnesota, you could very well be asking yourself the question, is moving today the Right Move? The answer truly depends on your individual situation and the answers to a host of questions. For many people today, selling their current home has become not a question of should I sell my home but can I sell my home.
Bank Owned sales can be relatively easy, however there are some banks that are easier than others and there are some things you need to understand about bank owned sales that differ from one company to the next. These could save you time, money and aggravation throughout the process.
In today’s market, Contract for Deed sales are becoming more popular again because there are a large number of buyers who are unable to finance using traditional financing means through a mortgage company. Quite possibly, there could have been a short sale or foreclosure that is preventing them from financing, but everything else looks perfect.
It’s been nearly 4 years now since the housing industry and our nation took a major down-turn and if you turn on the news, it’s quite obvious that we’re still struggling to get things back together as a nation. Housing is a huge part of our state and national health and many people, who took some hard hits early on in the down turn are in a position today where they can and should be homeowners again.
First, look at their record. Do they have the experience to be able to give you sound advice on the properties you are looking at? How many transactions have they been involved in. Simply asking how long they have been in the business may give you a jaded answer. There are many newer real estate agents that have been in the business for only a year or two, but are better equipped with the knowledge of today’s market than someone who has been doing only a few transactions over the last 20 years.
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