At Home In Scottsdale | Your Guide to Scottsdale Real Estate
Scottsdale real estate, neighborhoods, events, and great places around town
Posts tagged as:
Shailesh Ghimire over at CTX published a post last week that gives some insight into the inner workings of the HR 3221, the Housing and Economic Recovery Act of 2008. Entitled, How to Take Advantage of the Mortgage Rescue Bill, the article explains how the process works, what the roadblocks could be, and cost of accepting government assistance. Good info to know, especially, if you are in need of help.
Related Post:
Foreclosure Prevention – Resources for Scottsdale, Arizona Home Owners
I love it when I come across something new (to me) that will save home buyers money!
While financing for buyers with large down payments still seems to be sliding through the mortgage machine, first-time home buyers and other with less that 20% down are having to be even more diligent in their financing search. Now that the second mortgage options seem to have virtually dried up, mortgage insurance is back into the picture.
In Tyler Osby’s “Make Your Lender Pay Your Mortgage Insurance!” post yesterday, he clearly shares what it is and why you want to learn about it. His quote, “I used to tell customers that having mortgage insurance was like lighting your money on fire.”, cracks me up and at the same time aligns with my own perspective.
Since this lender pay option is was new concept to me, I did a little searching about the web to see what I could find.
It’s funny how information is presented to us, and we miss it. Timing is everything.
This week, I have a client who could really benefit from lender-paid mortgage insurance. His lease is up very, very soon and is buying his first house. As with most first-time buyers, money is tight, not much down payment, and yes, there are closing costs, too. Looks like this little gem of timely info is going to save him some money and help him get into his first home.
www.flickr.com
|
