June 2009 
There are 1 blog entries for June 2009.
Make Sure You Get Your Rate Lock In Writing
Tuesday, June 16th, 2009 at 3:50pm. 734 Views, 0 Comments.
One of the results of these turbulent economic times that we find ourselves in is what's known as "Rate Lock Failure". This refers to a situation where a borrower has been offered a "locked" interest rate (meaning the interest rate quoted cannot change if the deal closes within the lock period). The locks are usually offered in writing, although sometimes they are verbal or done by email. The problem is that not all lenders honor these locks in every instance. It's common knowledge among mortage professionals, but not as well known among first time home buyers.
The worst thing that can happen is for a buyer to expect to be signing a loan application based on an interest rate that was agreed upon and locked in, only to find that now the lender isn't…
The Oakland Real Estate Market is HOT
I'm happy to say, that there is definitely a significant increase in activity compared to this time last year. Multiple offer... Add Comment Read MoreShort Sale Debt Cancellation Set to Go Away
Originally, when you did a short sale you were taxed on the amount that you were forgiven by the lender. This was a seri... 13Comments Read MoreChanges To FHA Mortgage Insurance Premium
The Federal Housing Administration recently announced an increase in the upfront Mortgage Insurance Premium. Mortgage insuran... 4Comments Read More
