News: Low Mortgage Rates May Not Be Here For Much Longer

While you may have become used to seeing mortgage interest rates at or below 4 percent, the age of historically-low rates may be coming to an end. In fact, the Mortgage Bankers Association (MBA), the national association representing the real estate finance industry, predicts 30-year mortgage rates to rise to 4.4 percent by the end of 2013. Continue reading

5 Tips For First Time Homebuyers

1) Establishing a Realistic Price Range
A common mistake among first-time home buyers is purchasing more house than they can afford. You should not rely on banks to determine what you can comfortably spend on a new home. Banks are adept at determining the amount of monthly debt in the form of mortgage, insurance, credit card, student loan and auto loan payments. Continue reading

Short Sales/Foreclosures – 10 Myths

[ Note: this is an except from an excellent article by Brandon Brittingham. If you want, you can read the full article here.]

It’s likely you’ve heard the term “short sale” thrown around quite a bit. But what, exactly, is a short sale? A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. Continue reading