A short week after the Labor Day Holiday provided a slack schedule for economic news. Bloomberg reported that residential investment for the second quarter of 2015 represented 3.34 percent of the Gross Domestic Product. Compared to the long-term average reading of 4.56 percent, analysts said that the Q2 15 reading suggested pent-up demand in the housing market that could help propel the economy through any setbacks that could occur when the Fed raises rates. Pent-Up Housing Demand a Plus when … [Read more...]
What is HARP 2.0 And How Do I Know If I Qualify To Refinance With It
If you're looking for home refinancing options, you may have had difficulty in the past - especially if you owe more than your home's value on your mortgage. Getting refinancing consumes much of your home equity, which is in short supply for people who already have a mortgage. But with the government's extension of the HARP Program, you can now refinance your home with a variety of lenders - even if you owe more on your mortgage than your home is worth. This 'HARP 2.0' is a great way for … [Read more...]
The Pros and Cons of Paying Cash When You Buy Your Next Home
With mortgage bubbles and real estate issues still in recent memory, one might feel that their best option is to buy their next home using cash instead of borrowing the necessary funds. In today's article we'll explore the pros and cons of paying cash for that next house or condo. The Pros Include A Feeling of Complete Ownership There's a feeling of pride and joy that comes with owning a home outright. There are several other reasons for paying cash instead of signing on the dotted line and … [Read more...]
A Step-by-step Guide to Preparing Your Finances for the Mortgage Pre-approval Process
Being pre-approved for a mortgage isn't just a way to get a step ahead, in many cases it's a necessity to buying a home. Many sellers don't want to go through the negotiation process of selling their home only to have the buyer drop out when they can't get approval for the mortgage they were relying on. The Difference Between Pre-Qualification And Pre-Approval Pre-qualification is a faster process than pre-approval and is usually a best estimate based on how the borrower answers certain … [Read more...]
