Category Archives: Financing News

What do Rate Cuts Mean to Buyers and Sellers

The Federal Reserve (“the Fed”) cut key interest rates another half of a percent today. I’ve had quite a few buyers and homeowners ask me if that means mortgage rates will drop some more. The answer is a resounding “It … Continue reading

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Latest Mortgage Woes

Last week, a credit score of 620 was enough to get buyers the best interest rates. Today you most likely need a credit score of at least 680 and a down payment of at least 30% to be offered the … Continue reading

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Getting Out of an Awful Mortgage

If you think you might be getting in trouble with your current loan because the interest rate is climbing faster than you can keep up, take heart and read on. Lenders really don’t want to foreclose on you, so the … Continue reading

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Refinancing Options

I wrote a earlier this month about a Maryland CDA “Lifeline Refinance” as a way out of your adjustable rate loan, or your negative amortization loan. There is another option — good ol’ FHA. We haven’t seen much of FHA loans … Continue reading

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Choosing a Lender, Part 1

Buyers tend to focus on interest rates to the exclusion of all else. They’ll carefully shop rates looking for an eighth of a point off here and a quarter off there and not pay any heed to the lender’s reputation. … Continue reading

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