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Turned Down for a Mortgage? What to Do Next

One reason it is recommended to get pre-approved for a mortgage early in the home buying process is to reduce barriers once you find a property. However, the pre-approval process is not a guarantee. While it is not common, there are occasions when a client has …

NBC Segment on Mortgage Interest Rates

NBC Nightly News just aired a segment on mortgage interest rates and a renewed refi craze. 30 year rates are down from 4.5% this time last year to 3.81%. The experts crystal ball is that rate will remain …

2015 FHA Mortgage Insurance Changes

Before the year even started, 2015 was deemed the “Year of the First-Time Homebuyer.” If the latest changes to the FHA Mortgage Insurance Premium (MIP) is any predictor, this moniker is likely to ring true. The FHA mortgage insurance changes coming into …

4 Reasons Why You Should Get a Pre-Approval Letter for Mortgage

If you’re considering purchasing a home, you’re likely to be asked “have you been pre-approved?” For some, the answer is an easy “yes.” However, for others, it may leave you wondering what the fuss is about – especially if you’re …

More Portland Houses Close with Cash

July 2007 is considered the peak of Portland real estate’s boom.  Since then, the housing market has dropped nearly 30% in the Metro area. The way people are paying for homes has changed greatly too and that has …

Bounced Out of Buying a Home by NSF Checks

Boxes packed; 72 hours from closing.  First time buyer is excited and seller is moving up to a bigger home in a location they love.  Poof!  Both deals dead over bounced checks.  We represented the seller, not the …

New FHA Rules Change Payments

On October 4th, FHA rules will change regarding Mortgage Insurance Premiums collected up front and the monthly rate charged. Any FHA case number issued after October 4th will be subject to the new rules. The application for a …

FHA Loan Changes in the Works

Federal Housing Administration (FHA) home loans make up 30% of all home loans; up from 3% in 2006.  Whereas a “normal” loan requires 20% down, a home can be bought with an FHA loan for as little as …

One Percent Gets You Five

Do interest rates matter?  For quite a few years now we’ve all been hearing that “rates are at historic lows and will only go up.”  It was true then and it seems to be true now and the …

Some Options If You Are Delinquent On Mortgage Payments

The following eight are things that you need to consider before listing your home for sale if you are delinquent on your mortgage payment.  The list is from a Prudential Northwest Properties’  disclosure.  There are some serious ramifications …