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Is The Gyrocopter Hero A Bad Guy?

Before you get angry with Douglas Mark Hughes, the Florida letter carrier who landed a gyrocopter on the west lawn of the Capitol, you might want to think about what he did — and why. In an interview with the Tampa Bay Times, Hughes explained that he objects to the importance of political donors and […]

April 20th, 2015 | | 0 comments | Continued
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How To Get Rid of FHA Mortgage Insurance

Question: Can I get rid of my monthly FHA mortgage insurance premium (MIP)? I believe my HUD case number was assigned before June 3, 2013, even though my loan closed after that date. How do I find the case number and date for certain? My loan is 14 months old, and my appraisal qualifies the […]

April 13th, 2015 | | 0 comments | Continued
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Will Student Loans Ruin The Real Estate Recovery?

Student debts have grown like crazy during the past few years and yet there’s no evidence that recent graduates are any brighter, more accomplished or better able to get a job than past collegians. However, what’s patently true is that student debt is piling up and the result plainly impacts mortgage applications. At the start […]

April 6th, 2015 | | 2 comments | Continued
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What Are Pending Real Estate Contracts?

Question: On a frequent basis I see news reports concerning “pending” home sales. What are they and are they significant? Answer: Pending home sales are a measure of real estate activity released monthly by the National Association of Realtors. “A sale is listed as pending,” says NAR, “when the contract has been signed but the […]

March 30th, 2015 | | 0 comments | Continued
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Should We Dump Mortgage Insurance?

Question: I have always felt that mortgage insurance benefits just a select few and if it were withdrawn or otherwise eliminated and people required to put at least 5 percent down and preferably not more than 10 percent, you would see huge home sale increases. People would also have a much easier time when they […]

March 23rd, 2015 | | 0 comments | Continued
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Does It Make Sense To Prepay An ARM?

Question:¬†We often hear about the advantages of prepaying fixed-rate mortgages but not the benefits of paying ahead with ARMs. I have prepaid my ARM over time and now enjoy far lower monthly costs because of less principal and lower rates. Why not encourage more people to take this approach? Answer: You raise an important point. […]

March 16th, 2015 | | 0 comments | Continued
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Does Wall Street Home Buying Hurt You?

Question: Wall Street firms are buying up huge numbers of single-family homes. How does this impact private home buyers? Answer: We usually think of single-home real estate investors as local people who buy several properties and keep them over time or as rehabbers who buy properties, fix them up and then quickly re-sell. The entry […]

March 9th, 2015 | | 0 comments | Continued
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Is Your Real Estate Offer Confidential?

Question: We made an offer on a home. The listing broker said there were three more offers and we would have to increase our bid. The other offers, like ours, were all cash. How do we know there was another bid or that it was higher? If we raise and win (or lose) can we […]

March 2nd, 2015 | | 3 comments | Continued
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Fast Refinancing After A Short Sale — Here’s How

Question: We did a short sale on our home in May 2012. We then bought a house with cash in Oct 2012. Can we get a fast refinancing on our current home? Answer: A short-sale is a situation where a home has been sold for less than the mortgage debt, meaning the lender has taken […]

February 23rd, 2015 | | 0 comments | Continued
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Cash Buyer Discounts For A Fast Home Sale?

Question: Many buyers in today’s market are purchasing homes for cash. Sometimes cash buyers say they should get a discount because they can settle faster. Is this true? Answer: It’s likely true in most jurisdictions that cash buyers can settle faster than purchasers who need mortgage financing. However, this is not necessarily a reason for […]

February 9th, 2015 | | 0 comments | Continued