Blog Archives

Mortgage Approval Pitfalls

Mortgage Approval Pitfalls

Congratulations!  You’re pre-approved for a mortgage and ready to find the home of your dreams.  You have nothing to worry about since you have that pre-approval letter in your hand, right?  Not exactly!  This is a common misconception when it comes to the mortgage approval process.  Let me discuss some pitfalls to avoid that will make your life a lot easier to get to the closing table.  Read the rest of this entry

What are YOUR responsibilities while in escrow?

While there are many steps to the process of purchasing your home, one of the last steps is the time in which your loan is being processed. This time is referred to as “being in escrow”.  This occurs after your purchase offer has been accepted and after you have provided your earnest money to your escrow agency. Read the rest of this entry

Is renting cheaper than owning?

That’s the age old question.  Because of today’s growing rental market, I thought it was appropriate to discuss this topic.  This week, I had the opportunity to be a mentor for young ladies in the Girls Going Places program. It’s a GREAT organization that teaches young girls, ages 12-18, how to be financially independent and explore entrepreneurism and leadership in the business world.   During this big one-day event, the girls have to create a business plan, start a business (or choose a career) and budget their lifestyle.  Read the rest of this entry

You Can’t Beat the Competition with Low-ball Offers

Gone is the day when a buyer can find multiple homes of choice to bid on.  It used to be a game to some!  Finding a bank-owned home for sale these days is hard enough. Actually buying one is an even bigger problem.  Last year the supply of bargain-basement foreclosed homes shrank, as banks temporarily stopped trying to repossess properties to review possible paperwork errors.  But 2012 is proving to be a different story. Lenders are starting to resume foreclosure filings, so more of these distressed homes are expected to be listed for sale. Read the rest of this entry

What is the HARP Program?

I am going to interrupt our current flow to send out some information about the HARP program.  As many have heard the government has announced a program to help current homeowner’s secure these historic loan interest rates, even if their home is “underwater” or you owe more than the home will appraiser for.  This program better known as HARP is available and lenders/mortgage brokers are seeing record high increases in loan applications to see if current homeowner’ qualify.  Read the rest of this entry