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House Prices, Going up or Going Down? - August 21, 2008
from Mortgages Made Simple with Rick Gundzik August 21, 2008
Are house prices going up or going down? Well, depending on which statistics you read, the answer is both. Because of this, the most frequent question we receive is "Should I buy now or will prices continue to fall?" The answer boils down to your own personal situation. If you need a house, buy one. If you dont, don't. We don't think prices will fall too much more, prices are already down quite drastically in certain areas. Remember real estate is extremely localized, so pick a stable area to live in. We discuss some of the latest economic news and give you our opinion on the housing situation. Also, The Los Angeles Times real estate section will no longer be published. So be sure to subscribe to our podcast to get all the latest real estate news. Listen to "House Prices, Going up or Going down" If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com. Tags: podcast podcasting mortgages loan loans bank home finance money mortgage http://www.text-link-ads.com/xml_blogger.php?inventory_key=9HU86RCX76S49MVO3IHK&feed=1
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Housing prices bottoming - August 7, 2008
from Mortgages Made Simple with Rick Gundzik August 07, 2008
We continue to receive a lot of interest regarding these 3 areas; Auctions, Bank owned property and housing prices. So this week we answer 3 listener questions in this encore episode. Have Housing Prices bottomed?, are Home Auctions worth my time to attend? and is a bank owned owned home easy to buy? We present some compelling reasons to believe that housing prices have reached bottom. Looking back at past housing market bottoms gives us a good idea what might happen this time. Home auctions are heavily advertised, but can you get a deal, or will a cash rich investor grab your dream home from you? Many people advertise seminars which teach you the best way to get a deal on a home is to contact Banks that are trying to sell their inventory of real estate owned. But can the average home shopper crack this market? Listen to "Have housing prices bottomed, Home Auctions and Bank REOs ?" If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com. Tags: podcast podcasting mortgages loan loans bank home finance money mortgage http://www.text-link-ads.com/xml_blogger.php?inventory_key=9HU86RCX76S49MVO3IHK&feed=1
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Housing Relief Bill, Will it help You - July 31, 2008
from Mortgages Made Simple with Rick Gundzik July 31, 2008
We have received a ton of inquiries about this bill, so we decided to post this encore podcast for those who can't find it. There were a few changes in the final bill signed by the president, but nothing earth shattering. The best part of the bill is the tax credit for home purchases. This latest economic stimulus type Bill has the following three goals: 1. Help distressed homeowners, 2. Tax credit for First time homebuyers and 3. Permanently increase Fannie Mae loan limits to $625,000. The most shocking provision of the Bill requires lenders to reduce a borrower's loan balance to 85% of the home's appraised value. The distressed borrower will then be able to refinance to an FHA loan. The tax credit for first time homebuyers will be $7,500. However, it will only be eligible for homes purchased from April 9, 2008 until July 1, 2009. And finally, it will increase loan limits to $625,000 to try and keep the high cost states humming along. Listen to "Housing Relief Bill, Will it help You?" If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com. Tags: podcast podcasting mortgages loan loans bank home finance money mortgage http://www.text-link-ads.com/xml_blogger.php?inventory_key=9HU86RCX76S49MVO3IHK&feed=1
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Mortgage Payments and Stated Income Loans - July 24, 2008
from Mortgages Made Simple with Rick Gundzik July 24, 2008
Will the Housing relief bill help? This week we answer a listener's question whether or not the new housing bill will help him. We also had another listener ask us why he just can't seem to get a loan to buy a house. He has perfect credit, makes good money, and is putting in a big down payment. But he is self employed and his income is seasonal, high in the summer and low in the winter. He is a perfect candidate for a stated income loan. However, those loans do not exist anymore. Listen to "Mortgage Payments and Stated Income Loans" If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com. Tags: podcast podcasting mortgages loan loans bank home finance money mortgage http://www.text-link-ads.com/xml_blogger.php?inventory_key=9HU86RCX76S49MVO3IHK&feed=1
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Indymac, Fannie, Freddie and You - July 17, 2008
from Mortgages Made Simple with Rick Gundzik July 17, 2008
This week brought the collapse of Indymac Bank. Their collapse wreaked havoc in the financial markets, but it can have a greater effect on individual depositor's stress levels. This could be witnessed in the unnecessary bank run on Indymac this week. Many people do not realize they should not keep more than $100,000 in any bank. Insurance only covers up to $100,000 in deposits, any amount over that is negotiable to as low as 50 cents on the dollar. But for those who have a smaller amount on deposit, don't worry, you will get every penny back. We also discuss Fannie Mae and Freddie Mac's current troubles and why they are so important to the housing market. Listen to "Indymac, Fannie, Freddie and You?" If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com. Tags: podcast podcasting mortgages loan loans bank home finance money mortgage http://www.text-link-ads.com/xml_blogger.php?inventory_key=9HU86RCX76S49MVO3IHK&feed=1
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Low Rates versus Low Prices - July 3, 2008
from Mortgages Made Simple with Rick Gundzik July 03, 2008
This week we help out a listener who couldn't get a straight answer to a simple question.....Is it better to buy when interest rates are low or house prices are low? Our listener asked several people, but unfortunately, this industry is still full of inexperienced people who don't know a 30 year T-bond from a Fannie MBS. Fortunately we want you to be armed with knowledge so you get the best loan possible. We answer this question in depth and take a quick step on the soapbox about the real estate industry. Listen to "Low Rates versus Low Prices" If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com. Tags: podcast podcasting mortgages loan loans bank home finance money mortgage
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FHA Loans, 2nd Homes and Rental Homes - June 26, 2008
from Mortgages Made Simple with Rick Gundzik June 26, 2008
FHA loans can be the greatest thing since sliced bread for some people. A buyer can receive gift funds, use a non-occupying co-borrower and put less money down than on your typical home loan. These are great loans for 1st time homebuyers or just about anyone who needs a little extra push to buy a home. We also answer a listener's question regarding the difference between a 2nd home and an investment property. There are different qualifications, interest rates and a few other things we discuss that you need to be aware of. Listen to "FHA Loans, 2nd Homes and Rental Homes" If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com. Tags: podcast podcasting mortgages loan loans bank home finance money mortgage
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Housing Equity and Short Sales - June 19, 2008
from Mortgages Made Simple with Rick Gundzik June 19, 2008
The Federal Reserve released their latest report on Housing prices across the country. It reported homeowners have lost a combined $880 billion over the last 12 months. But it's not as bad as it sounds, we'll tell you why. We also answer a listener's question regarding Short Sales. We explain how they work and why you need patience if you're involved in one. Listen to "Housing Equity and Short Sales" If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com. Tags: podcast podcasting mortgages loan loans bank home finance money mortgage
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Recessions and Housing Prices - June 12, 2008
from Mortgages Made Simple with Rick Gundzik June 12, 2008
Are we in a Recession??? Technically no, but a lot of people feel like they are. With gas prices up and housing prices down, psychologically people feel poorer. So this tends to create a slow down in consumer spending. A full blown recession does not appear likely, but a commentator I like to read, John Mauldin, prefers to call it a "muddle through economy." By this he means we will meander our way through a period of no meaningful growth in the economy. This isn't good by any means, but not the doom and gloom some people are predicting. And in an election year, a recession would be devastating for the Republican party. We also discuss how a recession affects housing prices and give you some buy versus rent examples. Then we give you a few more ideas on buying a home today. Listen to "Recessions and Housing Prices" If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com. Tags: podcast podcasting mortgages loan loans bank home finance money mortgage
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Credit Reports and REO's - June 5, 2008
from Mortgages Made Simple with Rick Gundzik June 05, 2008
When you're getting ready to buy a new home, what's the first thing you think of......? Your credit report is correct. Three or four months before you begin shopping for a home you should get a copy of your credit report. This will help you save time in the long run for two reasons. First you will know exactly how your credit looks and second you will have plenty of time to fix any errors or information you didn't expect to find on your credit report. And if there are any errors you can start fixing them yourself by using the links below. We also discuss the current REO(Real Estate Owned) market in California as it shows signs of life with a rapid increase in activity. Many real estate agents are receiving mulitiple offers on homes due to reduced prices. This activity will help stabilize home prices throughout California. Listen to "Credit Reports and REO's" If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com. Show Notes: Annual Free Credit Report Experian Equifax Transunuion Tags: podcast podcasting mortgages loan loans bank home finance money mortgage
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Appraisals, Upgrades and Renovations - May 29, 2008
from Mortgages Made Simple with Rick Gundzik May 30, 2008
When you add a room to your house or put in a fancy backyard pool, does it help your home go up in value? And can you buy a home for more than it appraises for? On this show we give you insight as to what helps your home's value most in terms of bang for the buck, a new kitchen or a new pool. And we explain why some upgrades just don't create much value. Also, can you buy a home for more than it is worth? You can, but the obvious question is, why would you? We explain this recent, much more common occurence and tell you how to work around it. Listen to "Appraisals, Upgrades and Renovations" If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com. Tags: podcast podcasting mortgages loan loans bank home finance money mortgage
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