Good news for the Denver home owners. Median home prices rose 14% in March.
What seems to be impacting this percentage the most is more people are purchasing homes in the 300,000 to 450,000 price range. The actual value of homes have not risen 14% but more people are purchasing homes in a higher price range.
People are just now starting to buy homes again. With mortgage rates staying low, and the new home buyer tax credit, it has impacted people purchasing homes again. Rates are expected to increase over the next several months.
Denver’s market did not see the overinflation in values nor the drop in values that other parts of the country experienced. The Denver market is much more stable overall than other home markets.
Wednesday, April 28, 2010
Wednesday, April 21, 2010
Thursday, April 15, 2010
Monday, April 5, 2010
More Help for Upside Down Home Owners
The government is releasing more help for homeowners who have lost their job. They could have reduced mortgage payments for 3-6 months.
What does it mean to be upside down in your home? Basically, when you owe more than your house is worth, you are upside down in your mortgage. The government will encourage lenders to reduce the principal owed for home owners that are upside down in their mortgage.
Obama’s administration announced last Friday, March 26th, that it hopes its Home Affordable Modification Program will help three to four million home owners avoid foreclosure in 2012. So far, 170,000 home owners have had their mortgages permanently lowered.
By reducing a home owner’s mortgage, it would allow some borrowers to stay in their home and avoid foreclosure. In some cases, some home owners may want to sell their house as a Short Sale to avoid foreclosure. A Short Sale is the lender approving a sales price that is less than what is owed on the home.
Bank of America Corp will erase as much as three billion dollars in principal money owed to them. This will help many home owners who are delinquent on their monthly payments.
How do you qualify?
Your mortgage owed must be less than $729,750. There must be proof of financial trouble. Also, thirty one percent of your pretax income must be spent on your mortgage.
To apply for help, call your mortgage company to see if you qualify. If you have trouble getting through try calling a nonprofit housing counselor.
Some borrowers might be able to refinance with an FHA loan. Lenders might reduce the homeowners ‘primary mortgage by ten percent.
The government is releasing more help for homeowners who have lost their job. They could have reduced mortgage payments for 3-6 months.
If you are interested in talking to someone further, call David Ruch at (303) 840-9252.
Visit our website today @ http://www.real-estate-denver-colorado.com/
What does it mean to be upside down in your home? Basically, when you owe more than your house is worth, you are upside down in your mortgage. The government will encourage lenders to reduce the principal owed for home owners that are upside down in their mortgage.
Obama’s administration announced last Friday, March 26th, that it hopes its Home Affordable Modification Program will help three to four million home owners avoid foreclosure in 2012. So far, 170,000 home owners have had their mortgages permanently lowered.
By reducing a home owner’s mortgage, it would allow some borrowers to stay in their home and avoid foreclosure. In some cases, some home owners may want to sell their house as a Short Sale to avoid foreclosure. A Short Sale is the lender approving a sales price that is less than what is owed on the home.
Bank of America Corp will erase as much as three billion dollars in principal money owed to them. This will help many home owners who are delinquent on their monthly payments.
How do you qualify?
Your mortgage owed must be less than $729,750. There must be proof of financial trouble. Also, thirty one percent of your pretax income must be spent on your mortgage.
To apply for help, call your mortgage company to see if you qualify. If you have trouble getting through try calling a nonprofit housing counselor.
Some borrowers might be able to refinance with an FHA loan. Lenders might reduce the homeowners ‘primary mortgage by ten percent.
The government is releasing more help for homeowners who have lost their job. They could have reduced mortgage payments for 3-6 months.
If you are interested in talking to someone further, call David Ruch at (303) 840-9252.
Visit our website today @ http://www.real-estate-denver-colorado.com/
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