Lawmakers Target Seller-Financed Homes

Seller-financed deals are increasingly coming under scrutiny. The Consumer Financial Protection Bureau is investigating some larger investors using seller financing in real estate deals, accusing some investors of abusing the practice by evicting buyers for missing just a single payment or selling homes at the end of the agreements that are in complete disrepair. Legislators […]

3 Foreclosure Alternatives: What to Do Before Your Mortgage Goes Underwater

  DS011/iStock   Maybe you’ve missed a couple of monthly mortgage payments. Maybe a notice of default from your lender is looming right now. You understand the severity of the situation, but what most homeowners don’t know is that foreclosure is not the only option you have when you’re no longer able to afford your house. The […]

Mortgage volume stuck for second straight week, but jumbo loans get cheaper

Perhaps it is the August lull or the start of a more prolonged slowdown in the housing market, but homeowners and homebuyers seem unimpressed by the lowest mortgage interest rates of the year. Total mortgage application volume barely moved last week, down 0.5 percent from the previous week, according to the Mortgage Bankers Association. That’s […]

ARM rates on the rise

The average adjustable rate mortgage (ARM) rate on a 5/1 ARM was 3.23% in July 2017. This is up from a year earlier when the rate was 3.08%. ARM rates increased significantly going into 2016 and again going into 2017, partly due to the Federal Reserve’s (the Fed’s) decision to increase the target Federal Funds rate. Expect […]

Refinances down following interest rate rise

The number of residential mortgages refinanced in California fell in the first quarter (Q1) of 2017. Just 61,500 mortgages were refinanced in Q1 2017, down from 90,900 one year earlier. Still, the number of refinances remains above the recent trough of 46,000 occurring in Q1 2014. Recently, refinancing was most popular at the end of 2012, when mortgage rates were […]

Study: Buying Is Still Better Than Renting in Most States

Affordability challenges are weighing on the housing market, as many homebuyers and sellers contend with either being unable to compete or to find a new home within reach. Buying a home, however, is still better than renting one in most states—35, to be exact, according to a recent study by GOBankingRates. Analysts for GOBankingRates factored […]

Make That Home Greener: Energy-Efficient Mortgages

If you’re in the market for a new home, there’s a way to save the environment and some cash at the same time: Consider a “green” mortgage. An energy-efficient mortgage (EEM), the umbrella term for these types of loans, allows buyers to fold expenses for energy-saving home improvements into their mortgage. Photo credit: Shutterstock EEMs […]