Home Front: Lenders' phones silent as rates rise
Home Front: Lenders’ phones silent as rates rise
By Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/1940229.html
Mortgage rates, rising quickly from near-historic lows earlier this year, are already having negative consequences in the capital region.
"All of a sudden the phones just stopped ringing," said Michael McGee, ...
Posted by Brian Creel at 5:09 PM in Category:
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Looking For the Free and Discounted Stuff on Tax Day
USA Today is reporting that a number of restaurants are offering free food and discounts today (tax day), to add a little comfort food to the sometimes uncomfortable tax day activities.
•Free gift cards. T.G.I. Friday’s will give Wednesday customers $5 Bonus Bites gift cards for food and beverage purchases of $15 to $25 and $10 cards for those who spend more than $25. Members of the...
Posted by Brian Creel at 8:06 AM in Category:
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Common Closing Costs for Buyers
Common Closing Costs for Buyers
The lender must disclose a good faith estimate of all settlement costs. A check to cover your closing costs will probably have to be a cashier’s check. The title company or other entity conducting the closing will tell you the required amount for:
• Down payment
• Loan origination fees
• Points, or loan discount fees you pay to receive ...
Posted by Brian Creel at 2:34 PM in Category:
Buying PropertyLink directly to this article.
Understanding Points
Often home buyers who are obtaining a mortgage for a newly purchased home, will ask their GreatWest GMAC Real Estate Professional, “What are points?”
The answer - Each point or discount point, as real estate professionals and mortgage lenders often refer to them, are equal to 1% of the loan amount. For example, on a $100,000 loan, one discount point equals $1,000. And ½ discount point ...
Posted by Brian Creel at 9:29 AM in Category:
Buying PropertyLink directly to this article.
Mortgage Market Mayhem
Swanepoel speaks out
RISMEDIA, August 13, 2007–The public media this past week headlined the apparent surprise “mortgage meltdown” as many reported the filing for bankruptcy protection by the nation’s 10th-largest residential financer; American Home Mortgage Investment Corp., Melville, New York. Real estate, contradictory to its glamorous profile a year or two ago, was again headlined but...
Posted by Brian Creel at 4:13 PM in Category:
Mortgage & FinanceLink directly to this article.
Common Closing Costs for Buyers
The lender must disclose a good faith estimate of all settlement costs. A check to cover your closing costs will probably have to be a cashier’s check. The title company or other entity conducting the closing will tell you the required amount for:
Downpayment
Loan origination fees
Points, or loan discount fees, you pay to receive a lower interest rate<...
Posted by Brian Creel at 4:00 PM in Category:
Buying PropertyLink directly to this article.
