This makes for a very competitive purchase market, producing multiple bids - many over list price. Consult a Realtor in your area for expert advice or ask me for a professional referral.
It also allows homeowner who have been unable to refinance their existing home mortgage the past five years an opportunity to review their existing equity position. Of course, many underwater homeowners were assisted with a loan through the HARP (learn more here) program. However, many mortgages were ineligible for a variety of reasons. So, now may be a great time to take advantage of a refinance if your mortgage note rate is over 4%.
Please feel free to contact Craig at Southwest Direct Mortgage, LLC with any mortgage questions in Arizona or California. Craig has over 20 years of finance industry experience as a mortgage banker and entrepreneur.
Craig Turley
NMLS 80917
480-385-1422
Source: Mortgage Daily News
