Home Buyer Advice: ‘Forget Short Sales’ Buying foreclosures isn’t always easy, but it isn’t as hard as buying a short sale. A foreclosed home is already owned by the bank. With the short sales only about half of them ever get to the closing. Some end up in foreclosure long before they close even though...Read More
Jumbo Loan Premium to Shrink With the collapse last year of the private mortgage bond market on Wall Street, home buyers, builders and refinancers who relied on jumbo financing were left with few sources except at punitively high interest rates and huge down payments. –Kenneth Harney, “A Big Boost for Buyers Seeking Jumbo Loans” (The...Read More
Mpls. Offers Biggest Home Buyer Carrot Yet Starting April 2, the Minneapolis Advantage program will provide $2 million to fund 200 $10,000 deferred loans to buyers of foreclosed homes in certain Minneapolis neighborhoods. The loan is forgiven if the homeowner lives in the house at least five years. Information about the program will be available...Read More
