by kramoltz@hotmail.com | Jul 16, 2020 | Home Ownership, Mortgages + Lending
Reverse mortgages are a way for homeowners 62 and older to convert the equity in their homes into cash. These loans create cash flow to pay financial obligations when the owner doesn’t want to sell the home. The amount of a reverse mortgage is based on the equity or...
by kramoltz@hotmail.com | May 9, 2020 | Home Ownership, Mortgages + Lending
If your home is foreclosed on and your home is worth less than the loan, Arizona law provides for protection from being sued for that deficiency. This prevents a lender from recovering a money judgment against you if your home is “upside down” if the loan was used to...
by kramoltz@hotmail.com | Jan 17, 2020 | Mortgages + Lending, Real Estate Facts & Figures
Metro Phoenix ranks number 2 in VA home loan originations in the U.S. That means lots of veterans are moving to or buying homes in the Valley of the Sun. This demonstrates the continuing popularity of Arizona to the U.S. armed forces community (and their dogs).
by kramoltz@hotmail.com | Jan 2, 2020 | Mortgages + Lending, Real Estate Facts & Figures
The Federal Housing Finance Agency has increased the conventional loan limit from $484,350 to $510,400. This gives borrowers more buying power, allowing them to avoid more expensive Jumbo Loans and their stricter restrictions. So you can now afford to buy more home in...
by kramoltz@hotmail.com | Dec 6, 2019 | Mortgages + Lending
A new program is providing lender-paid private mortgage insurance on conventional loans through December 31, 2019. Save big when you buy a home by avoiding the traditional 20% down required to avoid monthly PMI payments. You can avoid PMI by putting down 15% as little...
by kramoltz@hotmail.com | Nov 5, 2019 | Mortgages + Lending, Selling Your Home, Uncategorized
If you are thinking of selling your property with a carry back loan, the Dodd-Frank Act created rules applying to residential seller financing. A carry back loan makes a property more attractive as a buyer doesn’t have to come up with the entire purchase price in...
