One would think that with the HUGE inventory of homes available for purchase nationwide that loans would be closing with the snap of a mousetrap! As a licensed loan officer In several states, I can tell you unequivocally that Illinois Mortgage Loans, Wisconsin Mortgage Loans and mortgage loans from coast to coast are becoming more and more difficult to close. The good news is that it is a buyer’s market, prices are being slashed and they are priced to sell. The bad news is that the majority of … [Read more...]
How to Appeal Property Taxes!
April 27, 2011 By Leave a Comment
Property Taxes; An Appealing Subject "If you drive a car - I'll tax the street, If you try to sit - I'll tax your seat If you get too cold - I'll tax the heat, If you take a walk - I'll tax your feet" - Tax Man, The Beatles Dear Jan: I don't know if you can help me with this issue but I think that I am in the same position that a lot of new homeowners are. I purchased a home in San Diego, CA earlier in the year. The property (some time ago) was worth $600,000. I got the home for an … [Read more...]
Buying a Home in Foreclosure
April 26, 2011 By Leave a Comment
Property Taxes & Buying a Foreclosed Property - Buyer Beware! By: Jan Leasure, Super Saver "A house is made with walls and beams, a home is made with love and dreams." - Author unknown Two weeks ago I was shopping at the Chico's outlet and purchased a $109 blouse for $9! I used to think that was a great bargain until I realized that home buyers are now thinking in terms of "bargains" when they purchase a home that was in foreclosure. I want to preface this column by reminding … [Read more...]
Home Buyer’s Glossary of Mortgage
November 8, 2010 By 1 Comment
Home Financing can be confusing and actually mortgages can have a language all it's own. My banking background encouraged me to post this "Home Buyer's Glossary" to help make your finance quest less intimidating. From time to time I will add articles to further explain the process. In the meantime, if you have any questions or comments about home finance, do not hesitate to add them here! "A" Loan or "A" Paper: a credit rating where the FICO score is 660 or above. … [Read more...]
5 Tips to Consider When Buying a Foreclosure!
June 21, 2010 By Leave a Comment
Some Tips When Buying a Foreclosure By Jan Leasure Our housing market has fallen and it can’t get up, even with a Life Alert. While we are waiting for “Housing CPR” to turn things around, this is of course an excellent time to purchase a foreclosure and take some of the inventory off the crippled hands of the banks. Of course, check with your Realtor for advice on whether or not a foreclosure is a good purchase choice for you and in the meantime here are some tips that might help … [Read more...]
Mortgage Interest Rates – How to Choose
March 29, 2010 By Leave a Comment
By: Jan Leasure, Super Saver It’s no secret that the housing industry, the businesses that facilitate the buying, selling, lending and collecting for home buyers, has suffered a massive hit in this failing economy. Although many people are struggling through, the recession has affected the job market, which has meant that people are no longer able to pay their mortgage payments, and they are losing their homes at an alarming rate. Much of this is caused by the fact that lending companies … [Read more...]
Home Loan Interest Rates – Choose Wisely
March 29, 2010 By Leave a Comment
By: Jan Leasure, Super Saver If you’ve been paying any attention to the news lately, you already know that they housing and real estate markets in the United States are in a sad state right now. Every night it seems like you are hearing more and more about people losing their homes to foreclosure. Of course, there are many factors that went into creating this situation for people. Not only did lenders have a hand in the mess by giving people loans at extremely high interest rates that they … [Read more...]
A Short Sale May Save Your Credit
March 28, 2010 By 1 Comment
Why would you do a short sale? If you cannot sustain your mortgage payments, cannot refinance and are behind in your payments you may only have two options; Sell the home for less than you owe or allow the bank to Foreclose. Short sale v Foreclosure? A short sale hurts your credit, but because it is a negotiation settlement, like the settlement of a credit card debt, it does not damage your credit as seriously as a foreclosure. Because a short sale is a negotiation, sometimes you can … [Read more...]
Getting Your Financial House in Order
March 27, 2010 By Leave a Comment
First Step is Knowledge 1. Know What You Owe! Did you know that 85% of bill paying adults really don't have a clue about what they really owe? Make a list of every bill you have from your mortgage and auto to the smallest credit card and utility bill. 2. Prioritize Payments: After you have made a list, prioritize the bills in order of urgency and due dates. 3. Create a Budget! Add a section in the budget for items that do not appear on your credit report such as food, utilities, … [Read more...]
Getting a Mortgage!
January 12, 2010 By Leave a Comment
By: Jan Leasure, Super Saver Getting a mortgage whether you are making a purchase or trying to lower your rate for a refinance has become a VERY sophisticated process. I will cover this process in it's entirety, however here are some tips that you should be aware of: 1.)YOU HAVE 3 CREDIT SCORES: Your lender will use the MIDDLE of the three scores. 2.) KNOW YOUR CREDIT SCORE; Two years ago you could purchase a home with a 560 middle credit score. Now to qualify for a government insured … [Read more...]
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