home mortgage: How to get out of your underwater house and live to tell about it!!!!! Part Quattro. - 07/15/11 07:16 PM

Desert Center Wild Flowers
Three weeks ago I started on a series of blogs to go over the nuances of the underwriting guidelines where a home owner can purchase another home to be used as their primary and turn their current home into a rental or second/vacation home.
Today is the final installment.  I want to thank those of you who have taken the time out of your busy day to read my blog and to make comments.  I truly appreciate it.
As stated before the four possible conversion groups are 1.  Principal residence that is in pending sale status, … (2 comments)

home mortgage: How to get out of your underwater house and live to tell about it!!!!! Part Deux. - 06/29/11 05:09 PM

Last week I started on a series of blogs to go over the nuances of underwriting where a home owner can purchase another home to be used as their primary and turn their current home into a rental or second/vacation home.
The national news outlets have reported this week that according to the S&P/Case Shiller house price report the market has seen a slight increase in home prices month over month, however home prices are still about 4% below where they were last year.  One month does not a trend make, but it's better than another down report.
Interest rates … (6 comments)

home mortgage: How to get out of your underwater house and live to tell about it!!!!! - 06/22/11 09:25 PM
Over the last few months I have gotten an increasing number of phone calls and emails wanting to know the process where a home owner can purchase another home to be used as their primary and turn their current home into a rental.
In the Arizona market, home prices have plummeted; for example a home in the West Phoenix Valley that sold in the mid $400K's in 2006 can now be bought for under $150K in 2011.  The same holds true for California, Nevada, Florida or any market that has experienced the rapid decline in home prices.  They are candidate for this type of activity.
(7 comments)

home mortgage: NEW COMPANY, NEW FREEDOM, NEW SERVICES - 06/22/11 05:15 PM

Rainbow in the Desert
I resigned a week ago from a local credit union, great people but my reputation was taking a beating due to their limited home loan offerings.  I am now employed by Ovation Home Loans, A division of Grand Bank, N.A., Member FDIC. 
In today's mortgage world of regulation and guideline changes almost on a daily basis, aligning oneself with a larger national organization gives me the best chance of staying competitive and able to offer the various products and services needed to meet the financing needs of my customers.
Ovation Home Loans is a direct seller servicer with a nation … (7 comments)

 


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