ARE WE ON THE RIGHT TRACK?

Eight national banks,  Bank of America, JPMorgan Chase, Citibank, HSBC, OneWest Bank, PNC, U.S. Bank, and Wells Fargo  saw the performance of their first-lien mortgages improved in the fourth quarter of 2014, while the delinquency rate on those mortgages and the foreclosure activity continued to decline, according to a quarterly report on mortgage performance by the OfficeContinue

Is home remodeling worth the investment?

More Renovations are not Necessarily Better. Before you begin any major projects, it’s important to assess your home’s value and the neighborhood it’s in. Determine what it will be the approximate return on the investment (ROI) based on the current market value or how long you plan on staying in the house. Be sure thatContinue

House Price Index Up 0.3 Percent in January

U.S. house prices rose in January, up 0.3 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). The previously reported 0.8 percent change in December was revised downward to a 0.7 percent change. The FHFA HPI is calculated using home salesContinue

El Indice de Precios de Casas incrementó 0.3 por ciento

Los Precios de la vivienda de los Estados Unidos incrementaron en Enero en un 0,3 por ciento sobre una base ajustada estacionalmente desde el mes anterior, de acuerdo al índice de precios de casas de la Agencia Federal de Financiación de la Vivienda (FHFA). El Índice de Precios de las Viviendas (HPI-House Price Index) seContinue

Existing home sales slightly rebound

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.2% to a seasonally adjusted annual rate of 4.88 million in February from 4.82 million in January. Sales are 4.7% higher than a year ago and above year-over-year totals for the fifth consecutive month.

Mortgage Rates plummeted today after Fed’s announcement

While the average improvement of 0.10% might not look like much at face value, it’s the biggest one-day drop we’ve had in 2015, and in a league with very few other players historically. With today’s improvement, the most prevalently-quoted conventional 30yr fixed loan for top tier borrowers falls back to 3.75%.   Some lenders will remain at 3.875%Continue

Negative Equity continues being a Serious Concern Despite Year Over Year Decline!

While the percentage of homes in the United States with negative equity has declined substantially since the fourth quarter of 2013, they experienced a slight increase quarter-over-quarter in Q4 2014, according to CoreLogic’s Q4 2014 Equity Report released last Tuesday. CoreLogic reported that 10.8 percent of all residential homes were underwater in Q4, this isContinue

Keep Your Money Where It Is, if you’re planning on buying a home!

It’s not wise to make any huge purchases or move your money around three to six months before buying a home. You don’t want to take any big chances with your credit profile. Lenders need to see that you’re reliable and they want a complete paper trail so that they can get you the bestContinue

Why Borrowers Pay For Mortgage Insurance…

Because of the risk on default and loss of the loan. Lenders require private mortgage insurance known as PMI on mortgages with down payments less than 20% from the purchase price. If lenders paid for mortgage insurance and passed on the cost to borrowers as a higher interest rate, they might have bumped up againstContinue

$4.5 Billion on Delinquent Debt ready to Hit the Market

Three of the nation’s largest mortgage lenders have put sizable packages of nonperforming and reperforming mortgage loans on the  market for investors to buy, according to New York Mission Capital Advisors. Bank of America has put up approximately $2.56 billion worth of delinquent debt for sale, including nonperforming loans, reperforming mortgages (those in which the borrower was 90 days orContinue