5 Things You Should Know About Buying a Short Sale Home

Short sales are increasingly seen in the real estate market and some new home buyers may have questions regarding them. Basically if a homeowner has difficulty making mortgage payments, can’t refinance and wants to avoid foreclosure for missed payments they can try to convince their lender to sell the house for less than the mortgage is worth and take the loss. This is a “short sale” because it is short of the amount owed on the mortgage. The seller gets no money but they walk away with their credit relatively intact.The lender loses money but doesn’t have to undergo foreclosure proceedings. It’s not a win-win situation but for both sides it’s not as bad as it could be.

Procrastination Remedies

The Little Book of Procrastination Remedies

Post written by Leo Babauta.

Procrastination is one of those topics that, it seems, I can’t write enough about. There isn’t a person among us who doesn’t procrastinate, and that’s a fact of life.
It’s deep within us. We think we’re going to do something later, or read that classic novel later, or learn French later. But we always overestimate how much we can do later, and we overestimate the ability of our later selves to beat procrastination.
If our current self can’t beat procrastination, why will our future self do it?
I thought I should cover some of the best procrastination-beating strategies, in light of my recent book, focus. People seem to want ways to beat procrastination, so they can actually get down to focusing.
Here’s a quick guide.

Refinance Demand Dips as Mortgage Rates Reach 10-Month High

	Mortgage News Daily
Message from Marty:   If you have questions about refinancing your current mortgage, call me sooner than later because this is only one of dozens of articles I saw this week extolling news of things to come in the mortgage rate world.  Call me at 801-540-5108

Refinance Demand Dips as Mortgage Rates Reach 10-Month High

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 4th, 2011.
The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans.

7 Tax Tips for Your 2010 Return

7 Tax Tips for Your 2010 Return 3/2/2011 11:13:00 AM These breaks could boost your refund -- or reduce what you owe. ...Read the rest of the story

Coming to a Lender Near You: 20% Down Mortgages (that's how you get the best rate and terms!)

20% Down Payment Required? WHY? 



The days of the NO money down mortgage are long behind us, folks.
After the housing boom and subsequent crash, statistics revealed that those with little or no "skin in the game" were much more likely to default on their home loans.

At the same time, banks and mortgage lenders were selling off the bulk of their mortgages to investors, so neither homeowner nor lender was really retaining any risk.  As a result, politicians came up with risk retention requirements under the Dodd-Frank Act, which are set to take effect soon.

Choosing the right Realtor: How can you be sure?

I work with great Preferred Realtors who I recommend without hesitation.  Call, text or e-mail me so that I can refer you to someone who will represent your needs perfectly!  :)

Signs You May Have the Wrong Realtor

Selecting the best agent to represent you in purchasing is one of the more fundamental priorities a buyer ought to have when getting started.

When selecting an agent you should start by doing an internet search of the type of agent that seems to be the best suited to help you in a particular neighborhood or community type.  If an agent puts themselves out there as being an expert in a particular niche, then they likely are.

Wrong House in the right neighborhood? FHA 203k Loans Part 2

Click on the link below for an excellent video about how great the FHA 203k loan is if you would like to buy a home needing repairs.  Call me and I can go over the program in detail.

I have a support team who does 203k loans ALL DAY LONG! 

My processing, underwriting, and closing team are experts at what they do.  THIS is the formula and secret to having a GREAT 203k loan experience!  

Marty Qualls, your 203k loan expert!  

http://tbwsdailyshow.com/2011/03/02/203k-home-improvement-loans-part-2-of-2/

Another Reason to Buy or Refinance Your Home Soon

Another Reason to Buy or Refinance Your Home Soon

April 18th, 2011 is an FHA deadline for another increase of Mortgage insurance; this time Up Front Mortgage Insurance.

203k Loan

203k Home Improvement Loan

The FHA 203k home improvement loan could be the best value for the first time home buyer or the repeat home buyer of today’s market.  Call me with your questions!

Points or no Points? Worksheet included!

Points or No Points?

WHEN IT COMES to mortgage points, it pays to keep score. Be warned, though: It can get tricky. The term points has multiple meanings in the mortgage world.

Mortgage points can refer to loan origination fees (fees charged by the underwriter) or discount points (also known as loan discounts). The worksheet below focuses on discount points, which represent 1% of the total loan amount. By paying a discount point, you can lower your interest rate. Consider it prepaid interest.
In general, you can knock off about 1/4 to 1/8 of a percent off your interest rate for each point you pay
says Keith Gumbinger, vice president of mortgage information provider HSH Associates.

Make a reverse mortgage a smart move, not a financial disaster

5 costly reverse mortgage mistakes

Gina Pogol   HSH.com

Taking on a reverse mortgage can be a smart move or a financial disaster, depending on the type of loan and your circumstances. Avoid these mistakes to make a reverse mortgage a smart move. Here are 5 mistakes to avoid when contemplating a reverse mortgage.