Strong incentive for home purchase: your landlord. There is some good news stirring in the market, specifically for Central Florida real estate agents.Annual rents are going up! "Asking rents for apartments in metropolitan...
Thursday, May 26, 2011
Rising rents and the real estate recoveryRising rents and the real estate recovery
Rising rents and the real estate recovery - inman.com
Thursday, May 19, 2011
Did you think 100% financing was gone?
It’s Back
Here’s a product that you will want to hear about!!
· No mortgage insurance required for this 100% portfolio product
· Borrowers only need to contribute $500 to the transaction
· No origination fees (on this product or any other @ Key) & 3% seller concessions allowed
· Rates typically run .25 above conforming rates
· No income restrictions in targeted areas (80% of median hud income in upper/middle census tracts)
Ø Verifiable rental history required (12 months) with 3 additional trade lines (24 months—nontraditional or traditional acceptable)
*If prior mortgage appears on credit report (12 months or longer) in previous 4 years, rental history requirement can be waived.
*If the borrower’s housing history cannot be verified, 5% down is required.
Ø 620 minimum credit score with no lates in the last year
Ø Not only for just 1st-time homebuyers but cannot own additional properties
Ø 42% debt-ratio maximum and one month of full payment required in reserves
Let us put you in touch with the lender that is offering this program.
Friday, May 6, 2011
REALTOR® Magazine-Daily News-REO Inventory Reaches All-Time High
REO Inventory Reaches All-Time High
The national inventory of REO properties rose in March to a record high of 2.2 million. Foreclosure starts also increased by 33 percent month-over-month, according to the March Mortgage Monitor report by Lending Processing Services Inc.
However, it’s not all doom and gloom for the housing market. The report revealed a significant increase in foreclosure sales, which is helping to chip away at the swelling inventories that are battering many markets.
Also, delinquencies continue to decline, which is a sign of fewer foreclosures brewing in the pipeline. Delinquencies fell more than 11 percent in March from February — the lowest level since 2008 and a nearly 20 percent year-over-year decline, according to Lender Processing Services Inc. The total U.S. loan delinquency rate, which is for loans 30 or more days past due (but not in foreclosure), is 7.78 percent.
States with the highest percentage of loans where home owners have fallen behind are Florida, Nevada, Mississippi, New Jersey, and Georgia.
On the other hand, states that boast the lowest percentage of delinquent loans are Montana, Wyoming, Alaska, South Dakota, and North Dakota.
REALTOR® Magazine-Daily News-REO Inventory Reaches All-Time High
The national inventory of REO properties rose in March to a record high of 2.2 million. Foreclosure starts also increased by 33 percent month-over-month, according to the March Mortgage Monitor report by Lending Processing Services Inc.
However, it’s not all doom and gloom for the housing market. The report revealed a significant increase in foreclosure sales, which is helping to chip away at the swelling inventories that are battering many markets.
Also, delinquencies continue to decline, which is a sign of fewer foreclosures brewing in the pipeline. Delinquencies fell more than 11 percent in March from February — the lowest level since 2008 and a nearly 20 percent year-over-year decline, according to Lender Processing Services Inc. The total U.S. loan delinquency rate, which is for loans 30 or more days past due (but not in foreclosure), is 7.78 percent.
States with the highest percentage of loans where home owners have fallen behind are Florida, Nevada, Mississippi, New Jersey, and Georgia.
On the other hand, states that boast the lowest percentage of delinquent loans are Montana, Wyoming, Alaska, South Dakota, and North Dakota.
REALTOR® Magazine-Daily News-REO Inventory Reaches All-Time High
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