The Specialist in Seattle Real Estate
A new program is about to roll out to help first-time home buyers. So far it’s been reported about in a couple of places I could find, The Capitol Record in Olympia, and a short article in the Seattle Times. But I think this is going to be a big deal. I first heard about …
Fannie Mae just announced a new policy regarding pre-foreclosure short sale transactions that is effective March 1, 2009. The policy provides that the closing of a pre-foreclosure short sale involving a Fannie Mae loan may not be conditioned upon reducing real estate brokerage commissions to a level below what the listing agent negotiated with the …
The Marlborough House, a recent condominium conversion, is officially in foreclosure. A TheSeattleSpecialist blog reader recently commented (Thanks, Aaron!) that The Notice of Foreclosure was posted on the building. I searched the county records and found that on 2/20/2009 a Notice of Trustees Sale (NTS) indeed was recorded showing over $18,000,000 in default. The current …
Talk to any mortgage broker around Seattle right now and they will tell you they are doing way more FHA loans than they did before. Many mortgage people are doing exclusively FHA. Why? Because of low-down payments, less restrictive credit requirements, and increased loan limits that finally work in our market. Now if only agents …
Many Buyers do not understand the difference between a mortgage broker and a mortgage banker, and how it relates to their purchase. Just a quick overview… A mortgage lender lends you your funds from a specific lending institution that they are associated with. Like Countrywide, Bank of America, or Wells Fargo, to name a few …