Friday, September 13, 2013
Thursday, September 12, 2013
How to refinance your home without perfect credit
NORFOLK, VA, Sep 12, 2013—Are you hoping to refinance, but nervous because your credit is not where it should be? Unlike what you may have heard, it's still possible to refinance your mortgage without great credit. Below, Louis Eisenberg, Associate Broker REALTOR ABR SFR of Prudential Towne Realty provides us with several tips how.
Start with clear expectations. You may be hearing about great refinance rates. However, without great credit, these will probably not be available to you. “Although you won't be applicable for the best rates, you can still refinance.” says Eisenberg. “Just be ready for higher interest rates.”
How is your equity? “Your equity may be more important when refinancing than your credit,” Eisenberg cautions. If you have a scant amount of equity, this could be your greatest challenge. “Try applying for an FHA-backed loan, as they're easier to secure.”
Show your best assets. If your credit history is shady, show your lender that you are, in fact, improving. Show how you're working hard to pay off your debt. Highlight that you have a long-standing, steady and secure job. Provide any bank statements that show a full savings account, and highlight that you haven't made any risky purchases—new car? That's a red flag right there.
“While securing a refinance is more difficult with bad credit, it isn't impossible. Be sure to put your best financial foot forward and you can most likely still find a lender,” says Eisenberg.
For more refinance information, please contact Louis Eisenberg Prudential Towne Realty, 109 E. Main Street, Norfolk, VA 23510, leisenberg@prudentialtownerealty.com, (757) 572-7244, or www.LouisEisenberg.com .
Wednesday, September 11, 2013
If you are considering selling your home, the time is now
As
more inventory comes on the market, buyer urgency will wane and price increases
will slow and even decline seasonally in many areas this winter.
Tuesday, September 10, 2013
Monday, September 9, 2013
Why Do American Families Buy a Home?
The following post is Courtesy of KCM Blog
There is a plethora of opinions voiced by real estate gurus as to why the dream of home ownership is so important to most Americans. However, study after study reveals the same five reasons families decide to buy a home. They…
Why Do American Families Buy a Home?
kcmblog.com/2013/09/09/why-do-american-families-buy-a-home/There is a plethora of opinions voiced by real estate gurus as to why the dream of home ownership is so important to most Americans. However, study after study reveals the same five reasons families decide to buy a home. They…- Want a good place to raise children
- Want a place where their family feels safe
- Want more living space
- Want control of that living space
- Realize that owning makes better financial sense than does renting
If you are considering purchasing a home, look at the five reasons mentioned above. If any of them apply to you and your family, perhaps it is time for you to take the plunge. With both prices and interest rates rising, waiting will only increase your monthly cost as we move forward.
Friday, September 6, 2013
Thursday, September 5, 2013
Homeownership still the American Dream
The following article Courtesy of KCM BLOG:
A big question facing the real estate industry over the last few years is how the housing crisis would impact the public’s belief in homeownership as a major component of the American Dream. Many felt the tragedy experienced by so many families would force them to reconsider their desire to ever be a homeowner again.
A recent study by the Joint Center for Housing Studies at Harvard University addressed this question. Their paper, Reexamining the Social Benefits of Homeownership after the Housing Crisis, revealed some interesting findings:
Harvard: Homeownership Still the American Dream
A big question facing the real estate industry over the last few years is how the housing crisis would impact the public’s belief in homeownership as a major component of the American Dream. Many felt the tragedy experienced by so many families would force them to reconsider their desire to ever be a homeowner again.A recent study by the Joint Center for Housing Studies at Harvard University addressed this question. Their paper, Reexamining the Social Benefits of Homeownership after the Housing Crisis, revealed some interesting findings:
Homeownership Still Preferred Over Renting
“Even after the dramatic loss of equity and the high foreclosure rates, the early evidence suggests that people seem to believe that, over the long run, owning is still preferable to renting…The long term cultural preference for owning seems to have weathered the recent housing crisis.”
Americans Still Expect to be Homeowners
“The research on home-buying expectations supports the conclusion that very large percentages of Americans still expect to buy a home at some time in the future.”
Younger Americans More Desirous of Homeownership
“Moreover, the finding that younger renters and owners are more likely than their older counterparts to expect to own bodes well for the future of the housing market.”Even after one of the most difficult decades in this country’s real estate history, the belief that homeownership is a part of the American Dream still lives on.
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