Quantcast
Channel: Raleigh Mortgage Gals » Buying a Home
Browsing latest articles
Browse All 94 View Live

Raleigh Report: Why FICO Was Created

FICO was not created to sell you credit scores.  It was not created for you at all.  You weren’t even supposed to see it.  If this is true, why was it created? To answer this question we have to enter...

View Article



Financing a House That Needs Work or Upgrades in Raleigh, NC

Vickie’s problem: She found the house she wanted.  The layout suited her family, loved the yard and location was great.  But kitchen was outdated.  What to do? Ronald helped her evaluate their options....

View Article

Can You Buy a House While on Maternity Leave in Raleigh?

Adelaide is pregnant and on maternity leave.  It’s important to her that she brings her baby home to their house, not an apartment.  Is she out of luck? Her husband Monte shares her dream.  He also...

View Article

Buying Home: What You Should Offer in Raleigh – October 2012

You found a house you want to own, what’s next?  A difficult decision faces aspiring home buyers.  Nobody pays sticker price, but how do you know what to offer? In real estate negotiation is still...

View Article

Are Veterans the Only Ones Eligible for a VA Loan?

Michael visits a military family in Raleigh and the conversation turns to VA loans.  He knows Gordon qualifies after have served 24 years, but who else? Different types of service have different...

View Article


Avoid Living Next Door to a Sex Offender and Other Stories

Geoffrey’s great aunt Melissa always said “What good’s the perfect house in a lousy neighborhood.”  Short of going door-to-door, what can Geoffrey do? Childhood scars have Geoffrey’s wife Martha...

View Article

Help Your Real Estate Agent Find Right Home for Your Family

You want the perfect home for your family and you’ve found a real estate agent to assist you.  Did you know that even the most skilled agents need your help? The MLS stated that 5,661 homes were for...

View Article

The Due Diligence Clause Now – Real Estate Agent Feedback

The residential real estate contract (NC) underwent a big change on January 1st, 2011.  Buying/selling a house will never be the same.  Is this good for you? Understanding and dealing with the due...

View Article


December 2012 Raleigh Real Estate Market Favors Who Now?

Who does Raleigh real estate market favor in December 2012 –buyer or seller?  Media sound bites are normally national in scope.   Here’s Raleigh, NC. trend. What are media comments based on?  In my...

View Article


State of Housing Market Today December 2012

Raleigh.  News media shouts that the housing market is back.  Is it?  How does answer to this question affect you if you want to buy or sell a house?  Find out. Let’s peel back the headlines and look...

View Article

Does a Good Credit Score Mean Mortgage Approval Today?

Raleigh – They bought a home in 2002 with nothing but a good credit score and their word as to how much they made.  Can they today?  They thought so.  Surprise. Umberto and his wife Taylor owned their...

View Article

How to Get Your VA Certificate of Eligibility

Raleigh –My cable company requires proof before they answer any question.  So do you think VA will issue you a Certificate of Eligibility on your say so? I think not.  For the VA to issue a guarantee...

View Article

Tips: How Much to Offer When Buying House – January 2013

You found a house you want to own, what’s next?  A difficult decision faces aspiring home buyers.  Nobody pays sticker price, but how do you know what to offer? In real estate negotiation is still...

View Article


Credit Tips for Buying House Now

Raleigh.  Overwhelmed with credit repair info?  What should you do?  Hire a credit repair company?  Can I provide tips on what to do?  Yes, here’s key info. Tina and Fred want a house now.  They’re...

View Article

Special Gotcha on VA Home Loans

Raleigh.  Ruth, a veteran, applied for a VA home loan.  She and her husband had FICO scores over 700.  Yet mortgage was denied due to this special gotcha. No other mortgage program has this...

View Article


Be Careful I Kiss and Tell

Raleigh.  Arthur and Dorothy (Dot) loved cruising neighborhoods and open houses in search of their dream home.  Were they about to make a very costly mistake? They found a house.  Talk about curb...

View Article

Track Raleigh’s Home Price Trends Today – February 2013

When you want to know if home prices are going up or down, does news media provide information you need?  Not really.  Their data is national in scope. National real estate data does not reflect what’s...

View Article


Pay Credit Cards or Collections First?

Raleigh – Pay credit cards or collections first common question of people who want to fix their credit score.  But another question needs an answer first. Linda and Billy recently asked me that...

View Article

Is Mortgage Payment Shock Fatal?

Being zapped by mortgage payment shock made Isaac a very unhappy camper.  He let the messenger (me) know about it in no uncertain terms.  Can anything be done? Isaac made good money for a guy his age....

View Article

Mortgage Application with 815 Credit Score Rejected – Why?

When you think you’ve seen everything an underwriter rejects mortgage application of borrower with an 815 FICO credit score.  The reason will surprise you. This will never happen to you.  So, other...

View Article

Financing a House is Different than Buying a Loaf of Bread

“Financing a house is different than buying a loaf of bread!” he barked when mom and I were looking at houses on the internet.  Father was subtle like that. I tend to get defensive when he does that....

View Article


Does Insufficient Credit File Mean You Have Bad Credit?

Mortgage application denied.  Insufficient credit file cited as the reason.  This couldn’t mean she had bad credit could it?  She was baffled. Evelyn was quite the successful career women.  She worked...

View Article


Rent vs Buy? The Magical Lease Story

We are entering the land of rent vs buy.  Our first stop a rental house owned by Rod Serling (Twilight Zone fame).  Rod made 2 offers.  Which would you choose? Rod offered choice of two leases.  One...

View Article

How to Muck Up the Mortgage Closing Date

Seller said no to buyers moving in prior to mortgage closing date.  Buyer wanted to move in before school started but were they about to make a big mistake. Richard and Lynn led busy lives.  Cramming...

View Article

Sequestration: Raleigh Real Estate to Take Hit

This will happen with sequestration:  Raleigh real estate to take hit.  Doesn’t sound like I’m hedging does it?  So brace yourself. No, Washington isn’t targeting Raleigh.  To varying degrees real...

View Article


22 Stupidest Mortgage Underwriting Conditions

April Fool’s Days seems like good day to bring you the 22 Stupidest Mortgage underwriting conditions.  Though not funny at the time, they are now. An underwriter (person who approves/disapproves)...

View Article

Can I Ever Buy a Home Again After a Financial Disaster?

Can I ever buy a home again after a financial disaster (bankruptcy, short sale, foreclosure)?  Millions of Americans ask this question and yes is the answer. The biggest second question is ‘when?’...

View Article

Increase in FHA Mortgage Insurance Good for Housing Market?

Increase in FHA mortgage insurance good for housing market? A loud NO is heard.  Is there a silver lining?  Let’s review changes and the silver lining question. FHA charges both an upfront fee...

View Article

Buying Home: What You Should Offer in Raleigh – April 2013

You found a house you want to own, what’s next?  A difficult decision faces aspiring home buyers.  Nobody pays sticker price, but how do you know what to offer? In real estate negotiation is still...

View Article



Mortgage Application Credit Mistakes in North Carolina

Avoid these mortgage application mistakes in North Carolina.  Prepare for a mortgage applications six months in advance advisors say, but there are risks. Doing the ‘right thing’ can cost you.  Steps...

View Article

Why Writing Offer With Short Expiration Can Be A Good Thing

An idea on making offers worthy of consideration.  Brian Robertson explores a strategy that could save you thousands.  I invite you to check it out. As a rule, most buyers like to write offers that...

View Article

Can a 401k be used to buy a house?

Can a 401k be used to buy a house? Mortgage approvals often require borrowers to show they have cash, credit and financial stability.  Can a 401k be used to buy a house? Much is written about FICO...

View Article

Season Your Cash When Applying for a Mortgage

What’s meant by “Season your cash when applying for a mortgage?”  Cash is cash, right?  Not right.  The bursting of the real estate bubble changed that. “But” you say “I know this guy who bought a...

View Article


Can Homeowner Refuse Full-Price Offer?

“My whole family fell in love with this house so we offered the asking price.  Seller rejected our offer.  Can homeowner refuse full-price offer? “We have been looking for months.  When we found this...

View Article

Calculate How Much House You Can Afford & Avoid this Pitfall

Bryan and Ashley decided they wanted to own their own home.  “To the web” was their battle cry.  They were overwhelmed with choices.  What next? Having just moved to Raleigh they lived with Ashley’s...

View Article

Buy a House and Rent Current Home

Back in the day I decided to buy a house and rent current home.  A good way to build a nest egg.  Things have changed.  Can you do this today? I was reminded of the old days recently when Shawn...

View Article


Win Wake County Bidding War

Buyers want to avoid a bidding war with price spiraling up.  So what can they offer the seller besides more money and still win Wake County bidding war? Most people wouldn’t think of this but some...

View Article


How Raleigh Gets Rid Of Student Loans Without Paying Them

Student loans can stop loan applications cold.  This about how Raleigh gets rid of student loans without paying them off than the mortgage approval process. Can this impact the housing market?  You...

View Article

Are Mortgage Approval Standards Loosening? July 2013

Many borrowers, real estate agents and loan officers felt home sales were hurt by strict mortgage underwriting.  Well are mortgage approval standards loosening? In spite of the drop in home prices and...

View Article

How to Get a Mortgage when Your Income Is Not High Enough

Mary wants to raise her son in their own house.  She wants to know how to get a mortgage when your income is not high enough.”  What can she do? Many solve this dilemma by asking someone to move in...

View Article

Find a Good Credit Repair Company in Raleigh NC

Randal and Constance have an opportunity to buy a special house at a “personal price” from Randal’s uncle, but their FICO score is too low.  What can they do? Randal’s uncle is moving from Raleigh to...

View Article


Will Rising Mortgage Interest Rates Hurt Real Estate Market?

I believe mortgage interest rates are on the rise.  I’ll tell you why and answer this question “Will rising mortgage interest rates hurt real estate market?” Sure, in the short term no one knows which...

View Article

Home Sales Surge in Raleigh Triangle, but Whose Buying?

Agents, appraisers & loan officers like me smile again.  Why? Market reports show home sales surge in Raleigh Triangle, but whose buying?  Is this important? First let’s review the numbers....

View Article


Buying Home: What You Should Offer in Raleigh – Aug 2013

You found a house you want to own, what’s next?  A difficult decision faces aspiring home buyers.  Nobody pays sticker price, but how do you know what to offer? In real estate negotiation is still...

View Article

Current Housing Market Trends August 2013

What is the condition of housing market today?  Let’s peel back the headlines and look at the numbers including some of the less-reported figures S&P/Case-Shiller-Home Price Indices:  Probably the...

View Article


The Impact of Seller Contingencies on Home Sales

Some sellers insert a long ignored contingency clause in real estate contracts.  What is the impact of seller contingencies on home sales? Whoa Kathy.  Slow down.  What’s a seller contingency?  Why...

View Article

IRS Tax Credit Helps First Time Home Buyers

Buying your first home?  IRS tax credit helps first time home buyers and you may be eligible to save up to $2,000 a year every year.  Here’s how it works. I’ve recently been approved by the North...

View Article

VA and FHA Appraisals Differ From Normal Appraisals

People are attracted to VA and FHA loans since they’re designed to make it easier to purchase a home.  The surprise comes when home is appraised.  Why?  How? I’ll deal with why this is true first.  VA...

View Article

Avoid This FHA 203K Deal Killer

The Federal Housing Administration (FHA) 203k loan allows buyers to wrap repairs/upgrades into their mortgage.  Make sure you avoid this FHA 203k deal killer. Actually, the 203k streamline program...

View Article


September 2013 Raleigh Real Estate Favors Buyers or Sellers?

Who does Raleigh real estate market favor in June 2013 –buyer or seller?  Media sound bites are normally national in scope.   Here’s Raleigh, NC trends. What are media comments based on?  In my...

View Article

Browsing latest articles
Browse All 94 View Live




Latest Images