Capital Economics experts report a loosening credit in regards to mortgage loans

The analytics firm noted that the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the housing crisis, it has remained a constant credit score average for a year now. Also there is a loosening of credit availability as , banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times...

Orlando Real Estate Report - Week of February 19, 2012

Orlando Real Estate -Single-family existing homes sales for the third week in February Sales of single-family homes decreased to 239 during the week of Feb 19, from 315 the week prior The median price of single family homes decreased to $125,000, a change of -0.2% The number of single-family home foreclosure transactions decreased to 55 last week, from 60 the week of Feb 12 The number of single-family home short-sale transactions decreased to...

What recently sold in Stoneybrook-Orlando (32828)?

Stoneybrook Orlando-Recent Home Sales (32828)In the past 90 days, there were 9 real estate transactions in Stoneybrook in east Orlanod. Here is a list of homes that sold in Stoneybrook-Orlando plus real estate statistics.Stoneybrook is a gated Orlando Neighborhood located just in east Orlando, convinient to downtown Orlando via the 408. The median price for a single family home in Stoneybrook that sold in the past 90 days is $229,000 with 2408...

Buying Foreclosure in Florida

How to beat the competition and buy Florida foreclosureFinding a bank-owned home for sale these days is hard enough. Actually buying one is an even bigger problem.   Last year the supply of bargain-basement, foreclosure homes shrank, as banks temporarily stopped trying to repossess properties to review possible paperwork errors.Start with your best offer: This isn’t 2007 or 2008, when sales were sluggish and sellers were thrilled with any...

USDA to help thousands of rural homeowners refinance and lower payments

There is a USDA (United States Department of Agriculture) pilot loan program that could help tens of thousands of rural homeowners refinance in 19 states including Florida.The program, which was first announced Feb. 1, 2012. It allows underwater homeowners in rural areas to refinance their homes with lower interest rates, similar to a program President Barack Obama announced earlier this month – although  the USDA’s program does not rely on...

Orlando Real Estate Weekly Report-median price goes up by 8.9%

Orlando Home and Condo Sales -Week of February 12, 2012Single-family existing Orlando homes for SaleSales of single-family homes in the greater Orlando area increased to 315 during the week of Feb 12, from 201 the week priorThe median price of single family homes in Orlando increased to $125,200, a change of 8.9% The number of single-family home foreclosure transactions increased to 60 last week, from 49 the week of Feb 5The number of single-family...

Florida real estate Existing-home sales rise again in January, inventory down

Florida’s housing market reported gains in median sales prices and a reduced inventory of homes for sale in January, according to the latest housing data released by Florida Realtors. In both the statewide single-family and condo-townhome markets, pending sales are higher and the statewide median sales price rose – up 5.3 percent to $129,000 for single-family homes and up 18.8 percent to $95,000 for condo-townhomesThe median is the midpoint; half...

Top Mortgage Lenders for 2011

Who were the biggest lenders in 4Q in 2011 for home loans?According to MortgageDaily.com’s 2011 Mortgage Lender Ranking, Industry-wide production during all of 2011 was around $1.3 trillion, falling from approximately $1.6 trillion the previous year. And the government’s role in residential finance was reduced last year. Fourth-quarter mortgage originations by all lenders were an estimated $381 billion, up from approximately $317 billion closed three...

More short sales being closed on--now some lenders offer seller incentives

More short sales are being sold as lenders are getting more flexible than before. And some banks are allowing financial incentive to owners for choosing short sales when loan modification fail.  The interesting thing is that although a few owners are even getting cash to complete the short sale, the financial incentives  are random and infrequent.Here are some of the lenders offering selling incentives for short sales as reported by USA...

Shopping for Homeowners Insurance- Rates go up

The Tampa Bay Times reported last summer which insurance companies homeowners insurance rates were being raised in Florida: On the rise-State Farm is being allowed to raise homeowners insurance rates in Florida 18.8 percent on average. That includes a 20 percent increase for the most common, nontenant homeowners' policies; a 15 percent decrease for renters; and a 3 percent decrease for condominium unit owners. Here's a sampling of some of the...

U.S. Job Market continues improvement

Good News! The healthier job market has lifted the U.S. economy in recent months. Even better news-- it shows no signs of slowing down, according to the associated press and USA today.Applications for unemployment benefits are near a four-year low . Weekly applications for unemployment benefits have fallen to a seasonally adjusted 348,000- the lowest since March 2008- according to the Labor Department. And applications have dropped 11 percent in...

Getting a mortgage? Know how Credit bureaus sell your info and how to stop trigger leads.

Stopping Trigger Leads - How Mortgage Loan Applications Result in Trigger LeadsHow Credit Bureaus Exploit Borrowers Through Trigger LeadsWhen you apply for a home loan, your mortgage lender will access a copy of your credit report. What happens next is completely legal but most people don't know about it. The credit bureaus will then turn around and sell your information to third-party vendors like other mortgage companies. This is called a trigger...

Foreclosed in 2009-2010? A must read...

Millions who could have their foreclosure cases checked for errors  and possibly get restitution  but most are passing up the chance because they don't know or understand that they can do so. Only 89,000 borrowers have asked for reviews even though more than 4 million got letters from the government late last year telling them that they could, according to USA TODAY. It is reported the letters were not effective and many may have been...

Orlando Real Estate Sales for January 2012 -

A sharp decline in the sales of Orlando area foreclosure homes contributed to a drop of 17.83 percent in overall sales for January, despite increases in the number of both short sales and normal sales. Orlando area foreclosure sales in January dropped by 57.61 percent compared to January of 2011, while short sales increased 23.69 percent and normal sales increased 19.92 percent.There was a significant drop in Orlando condo sales, which are down 48.11...

Mortgage settlement and the FHA reserve crisis

The  $25 billion mortgage settlement with banks last week over fraudulent foreclosure practices might help more than struggling homeowners. Part of the money is slated to go to the Federal Housing Administration (FHA) to help their projected shortfall in the reserves , according to The Washington Post. The major banks involved are Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Financial.Shaun Donovan, secretary of HUD,...

Lucy is Home-Happy Valentine's Day

I love living in Orlando. And I love living in Orwin Manor, a great little neighborhood straddling Winter Park and Orlando. It is one of those places where people really care about each other. Families stick around through the years and grow up, as babies become toddlers, then schoolers and teens. It is great to see people embracing the different phases of life as it comes. Memories...