Home Buyers Tax Credits Expire – Home Loan Demand Dives
home mortgage contract
The Mortgage Bankers Association reported today that mortgage purchase applications sank 27.1 percent to the lowest level since May 1997. Requests for home purchase loans have fallen almost 20 percent over the past month despite low borrowing costs.
Walking Away From Your Home Loan
Real estate market
Sad but true numbers tell the story in real estate:
26% of homeowners defaulted when they could afford to pay their loan.
11.3 million … number of U.S. homeowners whose mortgage balance exceeds the value of their home.
2015 is the year the typical homeowner who is now underwater will have some equity in his home.
14% is the average discount on a home sold by foreclosure vs. its equivalent in a traditional sale.
150 Credit score points that someone with a 780 score could lose are a short sale.
760 credit score you need to qualify for the best rates on a mortgage.