Home loans … from choosing a lender & making application to payoff, and the less desirable alternatives

Credit Rating – Current scope too limited

What payment histories are considered in determining a credit rating? How many of the following do you think are included … Rent payments? Utility payments? Cell phone network payments? Consider this situation … we’ll use “Kelly” as the name of a hypothetical young man or woman who graduates college, having been able to do so … Continued

FREE MONEY!! AzHFA – Renters … Check this out!

Mr/Ms. Renter … You are likely paying more to rent than you would pay monthly to buy the equivalent home or condo!  In Maricopa County, i.e., metro-Phoenix, rents have increased that much, interest rates are still that low, and home prices are still reasonable. While low rates is good news, there’s even better news!  You may … Continued

Arizona Home Buyer Assistance

Arizona is a great place to live, but not because of consistent progressiveness across the gamut of life issues. Our politicians are about as muddled and “backwards” as can be, but in some ways Arizona is a model for how to do things right. A great example is the variety of Arizona home buyer assistance … Continued

TRID … a BIG factor to Home Sales with a Loan Involved

If a home purchase transaction is an all-cash deal, TRID doesn’t apply. If the purchase is financed by the Buyer, TRID regulations structure the process and very much affect timing of various process events and the close date. Truth In Lending Integrated Disclosure Rules … somehow, the Feds get to TRID for the referring acronym. As … Continued

Free Money … Really!

A “grant” of up to $15,000 that you NEVER pay back in any form or fashion … this seems like free money to me! The Industrial Development Authority of (1) Maricopa County and (2) Phoenix have joined to assist home buyers to obtain FHA, VA, or USDA-RD financing to purchase a home anywhere in Maricopa County. Through the Home in Five Advantage … Continued

Interest Rates History – USA 223 Years

My neighbor brought to my attention a very interesting chart … the interest rates history in the USA since 1790.  The chart is for the rate on 10-year Treasury bonds. A large version is available in the linked web page. I wonder how creditable the data is for some of those ancient years, but it … Continued

NPV – An important Acronym for Homeowners

NPV – Net Present Value … is especially important to “underwater” homeowners. A “hardship” letter is a basic part of every “package” that goes to a lender to justify a loan modification, short sale, deed-in-lieu of foreclosure, or some other form of debt “write off”. With this letter, the borrower is explaining to the lender why the “relief” sought … Continued