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 1^st-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.

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

Greater stability in nondistressed real estate prices

U.S. home prices fell for the seventh month in a row during February, although price declines are increasingly concentrated in sales of distressed properties such as bank-owned homes, data aggregator CoreLogic said in releasing its home price index.

The CoreLogic home price index showed U.S. home prices down 6.7 percent from a year ago during February, a sharper decline than the 5.5 percent year-over-year drop registered in January.

Excluding distressed sales, the index was essentially flat, declining by 0.1 percent from a year ago compared to 1.4 percent in January. Distressed sales include short sales and real-estate owned, or "REO," properties.

"When you remove distressed properties from the equation, we’re seeing a significantly reduced pace of depreciation and greater stability in many markets," said CoreLogic Chief Economist Mark Fleming in a statement. "Price declines are increasingly isolated to the distressed segment of the market, mostly in the form of REO sales, as the stock of foreclosures is slowly cleared."

more... http://www.inman.com/news/2011/04/7/greater-stability-in-nondistressed-real-estate-prices

Your positive attitude will get you further in life than just about anything else.

It's a powerful reminder that we can accomplish things in life that can seem impossible . Please take a minute to watch this video below, I hope that it will give you a boost like it did me.

http://www.idontliketowork.com/?p=788

Real estate affordability sets record in Q4 | Inman News

Indiana, Michigan, Ohio metros dominate for most affordable housing. Home affordability rose to its highest level in at least 20 years in the fourth quarter of 2010, according to an index released by the National Association of Home Builders and Wells Fargo today. The Housing Opportunity Index found. www.inman.com

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Attention Home Buyers

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Fewer Utahns falling behind on mortgages

Fewer Utahns falling behind on mortgages

Fewer Utahns are falling behind on their mortgages, according to the latest report from research firm LPS Applied Analytics. In December, delinquency rates in Utah fell more than 11 percent compared to December 2009. The total percentage of non-curr...

Watch the Video for more information