Archive for February, 2008

Are we getting busy? Is the Market moving?

Posted: 26th February 2008 by Greg Phillips in Mortgage Related, Real Estate Related
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So, the predictions have been made and we have seen some drastic meassures by the feds to help the economy. So have things changed? So far from my personal expirience it seems that people are starting to buy houses. They are also taking advantage of the interest rates being low. Although the overall numbers may [...]

REO Financing – Distressed Property Rehabilitation

Posted: 9th February 2008 by Greg Phillips in Mortgage Related, Real Estate Related
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With REO listings growing and getting a higher demand from home buyers I thought I would start a post about the financing avenues. In the past there was typically a problem in the lending community with education on how to include repairs and rehabilitation in a home purchase. So many loan officers would say they [...]

Grant Money For Down Payment and Home Rehabilitation

Posted: 9th February 2008 by Greg Phillips in Mortgage Related, Real Estate Related
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Federal grant money is available to homeowners needing money for repairs and home buyers needing help with down payment. Home buyers can also repair a property with grant money. How? Call your county! Contact their Planning and Development division. Some have various names for this but anyone working for the county who deals with real [...]

FICO 08

Posted: 9th February 2008 by Greg Phillips in Credit Related
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So, are you ready to see what happens when the new method is released on calculating credit scores? They anticipate a release around March but there is much debate going on about how exactly this will unveil. It is supposed to be better at identifying low and high risk consumers for the financial services industry. [...]

Buyer's Market and Low Interest Rates!?

Posted: 6th February 2008 by Greg Phillips in Mortgage Related, Real Estate Related
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Yes! The market is saturated with homes for sale plus the interest rates are very low. When supply exceeds demand sellers try to cut prices to sell fast.  The interest rates are so low that if you refinanced in the last 4 years you may see an interest break and save some money!