Getting the best possible deal for a home or condominium is compromised of two parts. One is buying the home or condo at a good price and the other is getting the best mortgage deal. Any savings on the price of a residence can be reduced by paying higher interest rates for a mortgage loan. [...]
Entries Tagged as 'mortgage'
Las Vegas home and condominium buyers should get pre-approved before making an offer, here is why. Countrywide’s Real Estate Purchase Addendum, conclusion
August 17th, 2008 · No Comments · Las Vegas Real Estate, Las Vegas condos, Las Vegas homes
Tags: buy Las Vegas condominium for sale·Buy Las Vegas home·Henderson foreclosed condominium·Henderson foreclosed homes·loan·mortgage·pre-approved·underwritten approved
Contribution by interested parties toward buyer down payment is going away Oct 1st; Las Vegas home and condo buyers should act now
August 11th, 2008 · No Comments · Las Vegas Real Estate, Las Vegas condos, Las Vegas homes
A negative side effect of Hope for Home Owners act is that as of October 1st, interested parties in a real estate transaction are forbidden to contribute towards buyer’s down payment if the loan is backed by FHA. This includes the seller, buyer and seller’s agent and Escrow Company and the lender and down payment [...]
Tags: 000·down payment assistance·Las Vegas condominiums foreclosures·Las Vegas condos·Las Vegas homes under $250·lenders·mortgage·short sale homes
Why Las Vegas private home and condo sellers have a hard time selling now? Over 74% of Las Vegas residential July sales are foreclosures and 9% short sales
August 8th, 2008 · No Comments · Las Vegas Real Estate, Las Vegas condos, Las Vegas homes
Private home or condominium sellers have to compete with deep pocketed banks and other lenders to sell their property in Greater Las Vegas. Not only do these lenders have a great deal more money than a typical owner occupied home owner, any and all laws that have been passed by the congress so far in [...]
Tags: condominiums·foreclosures·Las Vegas condo sellers·Las Vegas home sellers·lenders·mortgage·sell Las Vegas home·short sales
Few points about Hope for Homeowners Act of 2008, passed by Congress to try to help steer as many as 400,000 distressed home owners away from foreclosure
July 30th, 2008 · No Comments · Las Vegas Real Estate
This legislation will allow distressed home owners who qualify, to cancel their old mortgage loans and replace them with 30-year fixed-rate loans for up to 90 percent of the home’s current value. The lender has to give the owner 10% equity in the home/condo. The catch is that the home owner’s current mortgage holder [...]
Tags: bank·distressed home owners·Hope for Homeowners Act of 2008·lender·mortgage·real estate
Foreclosure process timeline and who to seek advice from
July 21st, 2008 · No Comments · Las Vegas Real Estate, Las Vegas condos, Las Vegas homes
When distressed Las Vegas home owners start missing payments on their mortgage, they often have no idea how long they can keep their home or condo or where to look for advice. Unfortunately, they turn toward their mortgage holder or the bank for advice; doing so is seeking advice from your adversary. How smart is [...]
Tags: condos·homes·Las Vegas distressed home owner·Las Vegas foreclosures·lender·mortgage
An excellent post in our Las Vegas Real Estate Forum about understanding mortgage rates as it relates to current real estate by John Le Francois
July 15th, 2008 · No Comments · Las Vegas Real Estate
I have admittedly ignored the third and in my opinion the best part of Las Vegas Homes, condos, land and commercial real estate and that is the Las Vegas real estate forum. The reason is lack of time and that it needed to be updated to function properly. But the forum is updated now and [...]
Tags: ·condos·fixed rate·land·Las Vegas Commercial Real Estate·Las Vegas homes·Las Vegas real estate forum·mortgage
Making offers on Las Vegas short sales that are not approved by the lender and priced exceptionally low to get an offer often fail
July 12th, 2008 · No Comments · Las Vegas Real Estate, Las Vegas condos, Las Vegas homes
These days some Las Vegas Realtors price a short sale much lower than other comps so they can open negotiations with bank with an offer in hand. Making a purchase offer on these short sale homes or condos often end in a long wait for the buyer, and eventual rejection by the lender. Approval for [...]
Tags: Las Vegas short sale condominiums·Las Vegas short sale condos·Las Vegas short sale homes·lender approval for short sale·mortgage
Mortgage rates are lowest since 2004 as Fed cuts rates by 1.25% in eight days
January 30th, 2008 · No Comments · Las Vegas Real Estate, Las Vegas condos, Las Vegas homes
According to Freddie Mac’s survey last week, the average rate for a 30-year fixed mortgage was 5.48%. This is one of the lowest rates since 2004. Furthermore the Fed has cut rates by 1.25 percentage points in eight days, and has lowered the target for the federal funds rate to 3%. It is possible that [...]
Tags: condos·Fed·fixed rate·homes·interest rate·Las Vegas·LIBOR·loan·mortgage·owner
Analysis of a Las Vegas home owner (whose home is facing foreclosure) interview with KVBC TV
September 1st, 2007 · No Comments · Las Vegas homes
Following is an excerpt from a distressed Las Vegas Home owner’s interview with KVBC TV. “”It’s really very hard, very emotional.” Christine Young of Henderson is in a bind like so many in our valley. She refinanced her four bedroom, nearly 2,000 square foot home more than a year ago. And at the time was [...]
Tags: buyer·condos·foreclosure·homes·Las Vegas·loan·mortgage·Nevada·owner·seller
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