The process of buying a foreclosed home is slightly different from the process of buying a non-foreclosure home. If you want to invest in Phoenix foreclosures, therefore, it is important to understand the different ways by which to purchase a foreclosed home....
A short sale is when a property is sold for less than its remaining mortgage principal balance, and executed as a way for both the existing homeowner and mortgage lender to reduce their respective losses. Typically, although not always, short sales are reserved for...
In the aftermath of Hurricane Sandy, stories have emerged of homeowners whose hazard insurance coverage was too low to cover the damage to their respective properties. Unfortunately, this scenario is common among U.S. homeowners, and is not just limited to...
As a home buyer or refinancing household in Tempe , you have choices with respect to your mortgage. You can choose a loan with accompanying discount points in exchange for lower mortgage rates; you can choose adjustable-rate loans over fixed rate ones; and, you can...
To refinance a mortgage means to pay off your existing loan and replace it with a new one. There are many reasons why homeowners opt to refinance, from obtaining a lower interest rate, to shortening the term of the loan, to switching mortgage loan types, to tapping...
Nationwide, mortgage rates are low in Arizona and home prices remain relatively low, too. This combination, plus rising rents, is pushing renters in some cities -- including Tempe -- toward first-time homeownership. Buying your first home can be exciting, but you...
The U.S. housing market recovery is underway. New home sales are at a multi-year high, housing starts are at pre-recession levels, and home builders plan for a strong 2013. Since late-2011, falling mortgage rates have boosted buyer purchasing power. Now, today, in...
Mortgage rates in Arizona continue to troll near all-time lows, boosting the purchasing power of home buyers statewide. According to Freddie Mac's most recent Primary Mortgage Market survey, the average 30-year fixed rate mortgage is now 3.39 percent nationwide, just...
With mortgage rates at all-time lows, purchase and refinance activity is climbing. Home sales are at their highest levels since May 2010 as home buyers take advantage of favorable economic conditions. Home prices are low, household income is rising, and rents are up...
For today's home buyers and refinancing households, the value of "good credit" has never been higher. Mortgage approvals hinge on your FICO score, as does your final mortgage pricing. If you're shopping for a home in Illinois , therefore, or contemplating a refinance,...
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