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6 reasons to shop around for the best interest rate available!

Jeffrey Tung — Thu, 26 Aug 2010 22:30:00 +0000

Everybody has gone shopping for one thing or another so this should apply to mortgage loans too. By taking the time to shop around for the best rates available, you could be saving thousands of dollars during the life time of the loan. So it pays to be aware of the cost associated in obtaining a loan. Not to mention, you will be more confident about affording and purchasing that home that says “buy me”.
After all, purchasing a property could be the most expensive thing you buy in your life time. Why not take the plunge now? With the lowest interest rates ever available and lots of homes to choose from, plus slow economic recovery of the market, this is the best time to do so.
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$3 Billion more to help homeowners

Jeffrey Tung — Fri, 13 Aug 2010 23:36:00 +0000

Our government has said they would spend another $3 billion to help homeowners keep their home if they lost their job or have a medical condition that reduces their ability to work. Eligible homeowners could receive a no-interest loan up to $50,000 for as long as 24 months and stay in the home. This program is to prevent further home foreclosures, but will it help and make a difference? According to RealtyTrac, foreclosures have increased 8% to $1.65 million in the first 6 months of this year with the current programs, so will this help or are we digging a bigger hole in the money pit for the next generation to cover? I hope it does help and get us out of this mess. However, it’s going to take some time to see if the extra money spent will make a difference, but at least, the government is trying to help people keep their homes.
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What can you do to avoid forclosure?

Jeffrey Tung — Mon, 09 Aug 2010 23:02:00 +0000

Having a hard time keeping your payments up? If you’re like millions of people facing the thought of loosing their home, here are some options from Fannie Mae, that may help your situation. A little knowledge goes a long way. You may be surprised to know that there is a way for you to keep your home.

Things to know about getting your loan modification reviewed

Jeffrey Tung — Fri, 06 Aug 2010 23:55:00 +0000

Are you having problems with your payments? Need some help to keep your payments manageable? Then you might want to contact your lender/bank and let them know that you’re having financial difficulties. They will be able to help you keep your home if you fall into their criteria. This loan modification process can be a long one and can be stressful, however here are some tips that can help you through the process in a timely manner.
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The best time ever to buy a home

Jeffrey Tung — Mon, 02 Aug 2010 22:52:00 +0000

Have you been thinking about when it may be the best time to purchase a property? Well, here’s 5 reasons why you might want to make that big step now. Don’t forget, real estate has cycles. We are now in a buyer’s cycle and it’s the best time to take advantage of the market place. Remember, not too long ago, the last seller’s market? Do you remember when prices went through the roof and properties were selling like hot cakes? Does multiple offers to buy a home and bidding over the asking price sound familiar? Well, it’s better now. If you can get into a property today, you’ll be able to ride the wave of the next seller’s market.
So how are you going to get the money to take advantage of the opportunity? Unless you have lots of cash to make that purchase, you should see your banker or loan agent to see how much you can borrow. If you need to scrape up some money for a down payment, here’s 7 ways that may help. Good Luck!
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