learning center archive
Foreclosure Financing Options
Foreclosures are up 50% from 2007, the price of homes has dropped more than 20% in top markets, homebuilders hold more than one years worth of inventory, and stock indexes have fallen more than 20%. While this news sounds dire there is some good news;
continued...› | 7/30/2008
How to Find a Foreclosure
According to the first-quarter 2008 National Delinquency survey released by the MBA more than 5% of all loans were at least 60 days delinquent or in foreclosure compared to just over 3% the year before. When buyers have the upper hand in negotiations, the market
continued...› | 7/30/2008
Your Credit Score After Foreclosure
Our credit score has become an important number in our lives. Increasingly, credit scores are being used for purposes beyond determining whether you will make late payments or default on a loan. Our credit score is used to determine whether we can qualify for a loan,
continued...› | 7/30/2008
Subprime Loans: The Loans Behind the Mortgage Meltdown
Not too long ago, when a homebuyer needed to secure a loan, they were pretty much limited to applying for a conventional mortgage. These types of loans were generally noted as having a fixed rate and term, 15 or 30 years. They required mounds of paperwork
continued...› | 7/30/2008
Tips for Buying Foreclosures at Auction
The Auction sale represents the ending of the pre-foreclosure phase. If a borrower fails to cure their loan during the pre-foreclosure phase the property will be sold at public auction. The auction sale takes place at the county courthouse in a public sale to the highest bidder.
continued...› | 7/30/2008
What to Look for When Buying a Foreclosure
If you are interested in buying and/or investing the foreclosure market offers abundant opportunities. Foreclosure filings for May 2008 were up 48% compared to the same time last year. The record number of foreclosures has made it easier than ever for even the beginning homebuyer or investor.
continued...› | 7/30/2008
Home Financing FAQs
ForeclosedHomes.com has compiled a list of frequently asked questions about home financing. Simply choose and click on the question you are looking for or read the entire list to help increase your home financing knowledge.
continued...› | 7/30/2008
Down Payment Assistance FAQs
So you are interested in buying a home. You qualify for a loan but do not have the finances for a down payment. You may be eligible for one of several down payment assistance programs. ForeclosedHomes.com has assembled a list of FAQs to help answer your questions about down payment assistance programs.
continued...› | 7/31/2008
Down Payment Assistance
Effective October 1st, 2008 Non-Profit Down Payment Assistance Programs were ELIMINATED:
President Bush signed H.R. 3221 – Housing and Economic Recovery Act on July 30th, 2008. Section 2113 of the bill prohibits seller-funded Down Payment Assistance for loans backed by the FHA.
continued...› | 7/31/2008
Pre-Approval Tips
Pre-qualification is an informal way to see how much a potential homebuyer can borrow and is usually free. A lender estimates how much mortgage a buyer can afford by examining the potential homebuyers credit report, income, long-term debts, and any other information the potential homebuyer has on hand.
continued...› | 8/1/2008