Updates from October, 2009 Toggle Comment Threads | Keyboard Shortcuts

  • Steve Young 7:55 AM on October 10, 2009 Permalink | Reply  

    There is hope! 

    baldeagle For home and property owners that are having a hard time making ends meet and paying their mortgage, don’t give up, there are several opportunities for you if you’ll just try. I am seeing lenders doing things today that I’ve not seen in my 20 years of real estate. Oh, sure there have been programs to assist in the past, but not like the different ways of assistance the market is realizing now. “Short sales” (simply a real estate transaction in which the seller sells their property with the agreement and consent of the lender to accept less than a full payoff of the outstanding mortgage balance.), loan modifications (including refinance, adjusting the interest rate, etc) and a deed in lieu of a foreclosure (owner transfers the property to the lender) are some of the scenarios. Call or email Steve Young with RE/MAX to discuss alternatives that might be available to you. Remember, don’t give up!  http://www.steveyoung.pro & steve@steveyoung.pro

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  • Steve Young 7:29 AM on October 10, 2009 Permalink | Reply
    Tags: Arlington homes for sale   

    LOAN APPS UP AS INTEREST RATES REMAIN LOW 

    WASHINGTON (Mortgage Bankers Association) – The Mortgage Bankers Association released its Market Composite Index Wednesday, recording a 16.4 percent increase in mortgage loan application volume between the week ending Sept. 25 and the week ending Oct. 2.

    The Refinance Index increased 18.2 percent during the same time period.

    The average contract interest rate for 30-year fixed-rate mortgages hung below 5 percent for the third consecutive week, falling from 4.94 percent on Sept. 25 to 4.89 percent on Oct. 2.

    The average contract interest rate for 15-year fixed-rate mortgages decreased from 4.34 percent to 4.32 percent.

    The average contract interest rate for one-year adjustable rate mortgages increased to 6.56 percent from 6.40 percent.
    Real Estate Center at Texas A&M University http://recenter.tamu.edu/

     
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