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Foreclosures

10 Reasons to Buy a Home

by Tayeb Realty GroupSeptember 16, 2010 Foreclosures

Time magazine is being overly pessimistic in its recent cover piece that called into question the benefits of homeownership. In fact, now is a great time to buy. And, what’s more, tomorrow will be a great time to own, because the fundamental strength of homeownership hasn’t changed. Why is now a great time to buy? [...]

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Fannie and Freddie May Not Survive Overhaul

by Tayeb Realty GroupSeptember 15, 2010 commercial real estate

A top Treasury official will announce Wednesday that mortgage giants Fannie Mae and Freddie Mac won’t survive a revamp of the U.S. housing finance system in their current form. “Private gains will no longer be subsidized by public losses, capital and underwriting standards will be appropriate, consumer protection will be strengthened and excessive risk-taking will [...]

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Study: Shady Short Sales on the Rise

by John TayebSeptember 14, 2010 Foreclosures

Fraudulent short sales are threatening the viability of this refuge for struggling home owners. A recent study by financial consulting firm CoreLogic says one common practice is for a real estate salesperson representing the seller to negotiate with the lender to obtain approval for a low selling price. Then the property is sold to a [...]

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4 Steps To Attaining A Mortgage

by Tayeb Realty GroupSeptember 14, 2010 Foreclosures

If you’re serious about buying a home, cleaning up your credit should be the first item on your agenda. After going through your credit report, identifying, paying off and closing most of your credit cards, your next step is to shop for a mortgage. In this article, we’ll go over the preliminary steps of getting pre-qualified and/or [...]

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Expert Proposes Rewarding Good Borrowers

by Tayeb Realty GroupSeptember 13, 2010 Foreclosures

At least one mortgage financing expert thinks that the government ought to consider rewarding people who are in financially sound shape and who want to continue to pay their underwater mortgages on time. Keith Gumbinger, a vice president at the HSH Associates mortgage-consulting firm, told Fortune magazine that he wants the federal government to issue [...]

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Recipients of First Tax Credit to Begin Payback

by John TayebSeptember 13, 2010 Foreclosures

Borrowers who took advantage of the original 2008 home buyer tax credit must begin paying the credit back this year. The Inspector General for Tax Administration (TIGTA) says 950,000 owe money. The required payments are amortized over 15 years – $500 per year. If the property is sold, the credit must be paid at closing. [...]

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30-Year Mortgage Rates Rise

by Tayeb Realty GroupSeptember 12, 2010 commercial real estate

Average interest on 30-year fixed mortgages rose for the first time since June, lifting to 4.35 percent this week from 4.32 percent last week and 5.07 percent a year ago, reports Freddie Mac. Rates for 15-year fixed loans held at 3.83 percent, the record low set last week. Also, the five-year adjustable-rate mortgage averaged 3.56 [...]

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Mortgage Rates Fall Yet Again

by John TayebSeptember 7, 2010 commercial real estate

Mortgage rates have hit a new record low for the 10th time in 11 weeks as investors continue to turn to Treasury bonds as a safe haven; the shift in money is cutting yields, which mortgage rates tend to follow. Freddie Mac reports that 30-year fixed loans averaged 4.32 percent, down from 4.36 percent a [...]

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Fed Officials Call for More Housing Help

by Tayeb Realty GroupSeptember 7, 2010 Foreclosures

Federal Reserve officials attending a Fed conference reviewed the housing crisis and called for more programs to address broader issues. Eric Rosengren, president of the Fed’s Bank of Boston, said he is in favor of a more “holistic” approach. “My own view is that too little focus has been on community problems because the focus [...]

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Mortgage Rates Continue to Fall

by Tayeb Realty GroupAugust 31, 2010 commercial real estate

Average interest on long-term mortgages slid to a record low for the eighth time in nine weeks and could dip more. Freddie Mac reports that 30-year fixed loans averaged 4.36 percent this week, down from 4.42 percent a week ago; the 15-year fixed rate fell to a new low of 3.86 percent from 3.90 percent; [...]

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