Tagged : lender

Found 3 blog entries tagged as "lender".


foxnews.com - As a first-time real estate buyer, you probably have no idea how the overall purchasing process works or how to make sure you’re making a smart decision to purchase. And you’ll probably be very surprised to learn how much work it really is just to buy a home. To get you started in the right direction, and this is just a start, here are a few tips that you should consider.

Get lender-qualified and find a good real estate agent

To start off, you should get qualified by a lender to see what price range you can realistically afford and interview some real estate agents to find the right person to represent you in your transaction.

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When prospective buyers want to enter the real estate market they naturally are looking for the best rate with the lowest fees.  Bargain shopping is the new pastime during these fiscally challenging times.  It is the American way to try to find “the best deal”.  After all the more money you don’t have to spend, the more you can use toward your new home.  That seems logical and intelligent, right?  I would have thought so too before now.

Here are potentially incorrect assumptions:

  • your mortgage request will be approved because you have great credit.
  • lenders will honor your timeframe 
  • if buyer and seller agree on a price, the rest of the pieces will fall into place
  • local or national, the service is the same.
  • a mortgage pre-approval is almost a
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Fannie Mae and Freddie Mac have issued new guidelines designed to speed up short sales and make them more consistent, but real estate agents question whether they are achievable in the real world.

In a short sale, a lender agrees to accept less than the amount owed on a property and release its lien.

Under the new guidelines, which take effect June 15, servicers have 30 days to review and respond to short sale offers or requests. If they need more than 30 days, they must provide the borrower weekly updates and a final response within 60 days.

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