Blog – Page 118 – Racheli Refael

20 Jun 2019

NAHB: Builder Confidence Slips in June

Market Outlook

Homebuilder confidence dropped two points in June according to the National Association of Home Builders Housing Market Index. June's index reading was 64, which indicates strong sentiment among home builders for current housing market conditions. NAHB component readings also dropped in June with builder confidence in current home sales one point lower at an index reading of 71. Home builder confidence in home sales conditions over the next six months dropped two points to 70 and builder confidence in buyer traffic was one point lower at 48. Buyer traffic readings seldom exceed the NAHB benchmark reading of 50. Index readings over 50 indicate that most builders have positive sentiment toward conditions…

19 Jun 2019

By Mortgage Blog Content

Buying A Home In Foreclosure

Real Estate

Foreclosure is a process that happens over many months. There are various opportunities to acquire real estate that is in a different stage of foreclosure, including before the foreclosure process completes. This short guide identifies the different stages and the opportunities that may exist to acquire a property at a discounted price. Get The Money Lined Up First To acquire a property at any part of the foreclosure process requires cash or pre-approved credit. Have the full amount of cash available to pay for the transaction or have a recent pre-approval letter from a reliable lender. The letter shows the amount of mortgage financing available and approved for buying a foreclosure.…

18 Jun 2019

By Mortgage Blog Content

The Benefits Of Adding An In-Law Apartment To A Home

Real Estate

One renovation that may add value to a home is an in-law apartment. Even if a homeowner does not have any relatives, an in-law apartment makes wonderful guest accommodations. It is possible to rent it when unoccupied to earn some money. Homeowners who rent out part of a home need to check with their insurance agent to upgrade insurance to accommodate commercial use of a part of the home. Additionally, a person staying in an in-law apartment, who is not a member of the owner's household, may need to get renter's insurance to cover any personal property kept in the in-law apartment. Renovation Plans An in-law apartment may be in a…

17 Jun 2019

By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – June 17th, 2019

Financial Reports

Last week's economic reports included readings on inflation, retail sales and consumer sentiment. Weekly readings on mortgage rates and first-time jobless claims were also released. Consumer Price Index Lower in May as Retail Sales Hold Steady Last month's Consumer Price Index, which is a widely-used gauge of inflation, dropped to 0.10 percent in May and matched expectations. April posted month-to-month growth of 0.30 percent. Core inflation, which excludes volatile food and fuel sectors, rose 0.10 percent in May and fell short of expectations of 0.20 percent growth. April's Core Consumer Price Index grew by 0.10 percent. Analysts reported a likely slowdown in economic expansion last week. Consumers, vendors and financial analysts…

14 Jun 2019

By Mortgage Blog Content

Five Things to Do With a Windfall Other Than Spend it Right Away

Personal Finance

Perhaps you have won the lottery, received an inheritance, or cashed in one of your investments, and now you have a large sum of money you don't know what to do with. Although it is tempting to cruise around town in a brand new sports car it is important to think carefully about how to spend your newfound cash. To give you some ideas on the smartest way to use your new wealth, here are five things to do with a windfall other than spend it right away: 1. Erase Your Debt Your new found money will allow you to clear up all of your debts, which will lift a huge…

13 Jun 2019

By Mortgage Blog Content

How To Buy A Bargain Home As A Short Sale

Real Estate

A short sale is when the mortgage lender(s) agrees to sell the property for a lower amount than the loan-balance remaining. During the worst moments of the 2006 to 2008 real estate crisis, homes sold as short sales for a fraction of their value. Lenders had so many properties with loans in default that they could not manage the ones that they had in foreclosure. Foreclosure is an expensive legal process that causes a lender to lose more money on a property. This is one of the motivators that encourages lenders to accept a short sale because sometimes through a short sale the foreclosure process is avoided. Are Short Sales Still…