Rates, Bank owned and short sale tips for Las Vegas Real Estate Blog
If you are making an offer on a bank-owned property, and the listing states “cash or conventional only,” this usually means the home faces extensive repairs and may be difficult to get FHA or VA financing on.
However, if you need FHA financing, don’t be afraid to make an FHA offer, on these properties, with an FHA 203K loan.
Our team is certified to do these loans and this may be an acceptable alternative, in many cases, to those “cash/conventional” listings. If you have questions on this, please call me.
“HOW ARE RATES DOING THIS WEEK?”
From Bloomberg: “Mortgage Rates in U.S. Rise for First Time in Five Weeks, Freddie Mac Says”
From the NY Times: “Largest Bank (Bank of America) Will Resume Foreclosure Push in 23 States”
GOOD QUESTION I WAS ASKED THIS WEEK....
Q “I’m a real estate agent new to short sale. Is there anything you can send me to help?”
A: “10 Tips to a Successful Short Sale” is an education guide that can be found at the Bank of America Real Estate Agent Resource Center, along with many more tools and resources to help you navigate the Bank of America Short Sale process.
Call me or email me for the article link
GOOD QUESTION I WAS ASKED LAST WEEK....
Q: “How do I find out if I am eligible for one of the government-sponsored programs designed to help homeowners refinance or modify into more affordable payments?
Give us a call and we can likely tell you if you are eligible.
Please contact us if you are interested in a home loan using NSP.
Always FREE real estate consultations Contact me. If you need a home valuation, I need your address and return email, have a blessed day!
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