National Recovery is Affected by REOs and Shadow Inventory

Several financial sectors suggest economic stabilization and growth, but the nation’s housing market continues to dampen overall conditions, according to the credit bureau Equifax. Equifax, based in Atlanta, has released the results of a study it conducted during the month of May analyzing national credit trends. The company points to shadow inventory and REOs as …

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Six must-haves for mortgage approval

Interest rates are hovering around historical lows, and low interest rates increase affordability, making it easier for buyers to qualify. Yet stories of buyers waiting months to gain loan approval and home purchase transactions not closing on time due to lender’s strict underwriting are all too common. Some buyers are turned down for illogical reasons. …

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Four ways to avoid refinance rejection

“My application to refinance my $200,000 loan was recently turned down … do I have any recourse?” If by recourse you mean a third party of some standing who will direct the lender to make the loan, or attempt to persuade them to do it, the answer is “no.” No third party is going to …

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Factoring energy efficiency into a home’s value

Under the SAVE (Sensible Accounting to Value Energy) Act, estimated energy-consumption expenses for a house would be included as a mandatory new underwriting factor. When you apply for a mortgage to buy a house, how often does the lender ask detailed questions about monthly energy costs or tell the appraiser to factor in the energy-efficiency …

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