Featured Articles
FHA Mortgage Insurance and Seller Concession Changes – Ramifications
HUD has regrettably increased the annual mortgage insurance premium and soon will have succeeded in reducing the allowable seller concessions. It’s easy to know that this will have a big impact but it will actually change the lending landscape by dramatically decreasing FHA’s presence in the marketplace and shifting loan volume to Fannie Mae and FreddieMac who share an uncertain future... [Read more]
Buying a Home after a Short Sale
I’ve written on this subject before but I want to be more thorough this time. There have been too many articles put out lately that discourage people from contemplating a home purchase after doing a short sale. These articles express cynicism about home sellers’ financial habits and Realtors alike. Most Realtors doing short sales know how to cover the bases for their client to make... [Read more]
Monthly Private Mortgage Insurance – It Doesn’t Make Any Sense
It is inevitable that FHA will play less and less of a role in the lending market. As this unfolds, it’s critical for loan officers, Realtors and borrowers alike to understand the many options in the improving private mortgage insurance market. In the distant days when home values were increasing, it made perfect sense for borrowers to opt for monthly mortgage insurance and wait till their home... [Read more]
Return on Green – Do “Green” improvements matter?
Without a doubt. There is no question “green” improvements matter. The question is how much and to whom. A recent study in the Seattle market, where green is a search criteria in the Seattle Multiple Listing Service (MLS), finds green certified homes sell for approximately 5% more than non-certified homes. Even more compelling, green certified homes are on the market 24% less time than non-certified.... [Read more]
Upside Down on Your Home? – Here’s Your Playbook
In my home state of Minnesota, Minneapolis and Saint Paul have nearly 39 percent of homeowners under water. I’ve had the question, “I’m upside down on my home, what are my options?” so many times that I wanted to prepare a menu of options for people to reference. This article briefly outlines 9 potential solutions that may serve you well. The target audience here is not necessarily... [Read more]