Reno Mortgages 
Information regarding Mortgages in Reno Real Estate
There are currently 6 blog entries related to this category.
Reno Real Estate Blog
Friday, January 21st, 2011 at 5:11pm. 555 Views, 0 Comments.
I've just partnered up with 3 of Reno's top Real Estate Industy leaders to bring you an informative Real Estate blog.
www.RenoRealEstateGurus.com
David Hughes - Reno Residential Guru Reed Simmons - Reno Commercial Real Estate Guru Stephanie Hanna - Reno Mortgage Lender Guru Erin Schiller - Reno Title and Escrow Guru We are excited to be bringing you all the news and updates from all aspects of the Real Estate Market. We will also be adding other authors such as a home inspector, appraiser, water rights expert etc., this will become the resource in the Reno area for all of your Reno Real Estate questions. Reed Simmons with Grubb and Ellis in Reno has been in the real estate industry for 30 years and was once a partner at Dickson Realty.…Bank of America Back in Business on Foreclosures
Friday, October 22nd, 2010 at 6:17pm. 602 Views, 2 Comments.
That was quicker than I thought, it was just 2 weeks ago that they had halted foreclosures due to the Robo Signing scandal. Bank of America has resubmitted affidavits in 102,000 foreclosures in 23 states. This would allow them to resume foreclosures in those states.
They plan on resuming foreclosures in the remaining 27 states as soon as it completes the review of the foreclosure process in each one of those states. According to a bank spokesperson the basis for the foeclosure decisions was accurate, meaning the people they are foreclosing on are behind on their payments and should be foreclosed on.
Bank of America is just one of 6 loan servicers that have been under scrutiny for allowing employees to sign off on affidavits without reading them. BOA and…
Reno Foreclosures to be halted
Thursday, October 14th, 2010 at 9:16am. 528 Views, 2 Comments.
Bank of America announced last week they will be halting foreclosures in all 50 states while they investigate their pending foreclosures for fraud. Apparently they have been engaging in something you have probably heard about called "Robo Signing", which basically means bank employees forged notarized documents to accelerate the foreclosure process.
The arrogance by which these banks have operated throughout this foreclosure process is appalling. What does this mean for the average buyer and seller is a delay of the inevitable. Most guestimates are a 3 to 12 week bump in the road. In the short term could be good for sellers because this will give them less competition, in the long run this could hurt values as there will be a flurry of foreclosures that…
New FHA changes as of October 4, 2010
Wednesday, September 29th, 2010 at 11:50am. 248 Views, 0 Comments.
FHA Changes effective October 4, 2010: What's it really mean to the average buyer?
The good: FHA has maintained a miniumum 3.5% down payment.
More Good:The up front mortgage insurance premium (ufmip) has been reduced from 2.25% of your loan amount down to 1%. This amount is not actually collected upfront, but rather financed back into your loan. The lower this is, the lower your final loan amount is.
The Bad: The monthly mortgage insurance, or annual premium as FHA calls them is going from .55% to .90% on all loans that are for 95% or more of the sale price/value, and from .50% to .85% for all loans less than 95% of the sales price/value. So this monthly premium is almost doubling.
Simply put, for a buyer purchasing a $100,000 home with an FHA loan…
Senate Extends Tax Credit for another 3 months
Thursday, June 17th, 2010 at 12:10pm. 458 Views, 3 Comments.
The key here is you have to have been in contract by April 30 of this year. If you were, they are giving you until September 30 of this year to close and take advantage of the $8000 tax credit for first time home buyers and $6500 credit for homebuyers who are buying a new primary residence.
The first tax credit that was to expire June 30 of this year has caused some back log with buyers trying to meet that deadline. This new deadline to September 30 should give everyone some breathing room.
Read the Reuters Article lining out the details of the extention.
Love it or Hate it, the Stimulus Bill Definitely has Some Positives for Home Buyers
Monday, February 23rd, 2009 at 11:15am. 551 Views, 0 Comments.
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The following article was written by Stephanie Hanna, Platinum 1st Mortgage It doesn’t really matter what side of the political fence you sit on, there’s no denying that the new stimulus bill offers good news for potential home buyers. The way I see it, there are two specific portions of this bill that impact buyers most directly: - Increased tax credit benefit for first-time homebuyers. Let me first define a first-time homebuyer because the government’s definition is probably different than what you’re thinking. If you have not owned a principal residence in the past three years, you are considered a first-time homebuyer. |
If you fit that bill and you purchase a home between January 1, 2009 (yes, it is retroactive) and December 31, 2009,…
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