Weekly Video Blog #135 – Surprise, Surprise, Surprise
Posted on June 25th, 2011
This week the blog is just packed with the unexpected. You’ll see exactly what happened in Joplin as Dean delivered the money you helped tally up. You’ll also see what the media reported, see a Dean Graziosi student from Joplin and find out why this WEDNESDAY you’ll need to be available for some breaking real estate secrets. As, always, comment, like and spread the word, the real estate revolution is in full swing! PS: Be sure to register for the Wednesday conference call if you haven’t already!
Tags: Blog, Blog 135
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Reverse Mortgages Versus Home Equity Loans
Posted on June 25th, 2011
For decades, home ownership has been touted as one of the main ways individuals and families could build their wealth. When a person makes regular and timely mortgage payments they are taking the essential steps towards building home equity. As the equity builds, the homeowner will end up owning more of their property than their mortgage lender. When that happens, new lines of credit will become available to the homeowner and that is where both reverse mortgages and home equity loans come into play.
Both reverse mortgages and home equity loans will allow you to use your home as collateral when borrowing money, but there are some start differences between the two.
Reverse Mortgages:
A reverse mortgage is a type of loan that provides homeowners aged 62 and older a way to borrow money against the value of their home.
Tags: Home, Home Equity
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Mortgage Rates: Yep. Lows of Year
Posted on June 25th, 2011
We’re back to and maybe even setting new year-to-date mortgage rate lows right now.
These positive developments follow a short period of stagnation where volatility in the secondary mortgage market kept us on edge, but never really amounted to much on rate sheets. Loan pricing drifted mostly sideways since setting new YTD lows on June 8th. And even though we didn’t have far to travel, we’re back to those lows again. And maybe even teetering on lower lows….
In the chart of Consumer Rate Quotes below, if the line is moving up, closing costs are rising. If the line is moving lower, costs are getting cheaper. Sideways mortgage rate behavior followed by an abrupt drop followed by another spell of mostly sideways activity can be seen when looking closely.
Tags: Year
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Americans’ equity in their homes near a record low
Posted on June 24th, 2011
Average home equity plunged from more than 61 percent at the start of 2001 to 38 percent in the January-March quarter this year, the Federal Reserve said in a report Thursday. That drop comes as home prices in big metro areas have reached their lowest level since 2002.Falling real estate prices are eating away at home equity. The percentage of their homes that Americans own is near its lowest point since World War II, the Federal Reserve said Thursday. The average homeowner now has 38 percent equity, down from 61 percent a decade ago.Wells Fargo, Bank of America and JPMorgan Chase — haven’t helped enough people lower their mortgage payments to stay in their homes.
The government said it has started withholding the cash incentives it established for lenders under its 2-year-old foreclosure prevention program.
Tags: Equity, Equity Homes
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Estimating the Cost of Moving House in Philadelphia
Posted on June 23rd, 2011
Moving into a new home requires plenty of hard work. Aside from the time and work that you need to put in, it usually also involves plenty of spending. To make sure that you are able to keep the moving costs to a minimum, especially when moving house in Philadelphia, here are a couple of pointers that you can keep in mind as you estimate your moving costs.
One of the first things that you need to do would be to look for a reputable house movers company that provides the services you require at the best rate. There are plenty of moving companies that have already put up websites so it should be easy for you to browse through what they are offering. Full article…