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Useful Mortgage Information

Here are some additional discussions relating to the mortgage industry from my main information site.
http://bestvirginiahomeloans.com/why_do_i_apply_once_get_15_calls_641.htm
http://bestvirginiahomeloans.com/content/stop_foreclosure_now_113.htm
http://bestvirginiahomeloans.com/content/mortgage_faqs_886.htm
http://bestvirginiahomeloans.com/content/should_i_get_a_fixed_rate_or_an_adjustable_rate_895.htm
http://bestvirginiahomeloans.com/content/will_my_mortgage_be_sold_and_why_988.htm
http://bestvirginiahomeloans.com/content/what_lenders_look_for_783.htm
http://bestvirginiahomeloans.com/content/improve_my_credit_score_608.htm
http://bestvirginiahomeloans.com/content/arm_adjustment_caps_898.htm
http://bestvirginiahomeloans.com/content/links.htm
http://bestvirginiahomeloans.com/content/below_500_refinance_630.htm
http://bestvirginiahomeloans.com/content/credit_dos_donts_during_the_loan_process_602.htm
http://bestvirginiahomeloans.com/content/should_i_own_a_home-rent_vs_own_ 755.htm
http://bestvirginiahomeloans.com/content/how_can_an_arm_loan_benefit_me_629.htm
http://bestvirginiahomeloans.com/content/refinance_180.htm
http://bestvirginiahomeloans.com/content/jumbo_home_loan_233.htm
http://bestvirginiahomeloans.com/content/what_are_discount_points_130.htm
http://bestvirginiahomeloans.com/content/do_i_need_a_mortgage_broker_291.htm
http://bestvirginiahomeloans.com/content/credit_repair_guide_7.htm
http://bestvirginiahomeloans.com/content/loan_programs_for_people_with_low_fico_score_189.htm
http://bestvirginiahomeloans.com/content/credit_collections_-_should_i_pay_537.htm
http://bestvirginiahomeloans.com/content/lenders_for_terrible_credit_465.htm

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March 2008
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Are We There Yet (the bottom of the market)?

Just a brief recap of the (very) local market. Of the 14 homes listed for sale in my development, all but 2 have the infamous “3rd party/ (lender) senior management approval required” blurb on the MLS listing. The bad news, 4 home sold at foreclosure auction at the convention center last weekend. The two closest to my house went for $230,000 or roughly 60% of their purchase price 2 – 2 1/2 years ago at the TOP of the market. One owner relocated, purchased another home in Texas and tried to rent/sell for 6 months before the house finally went to foreclosure. On the brighter side, there was an actual sale 2 homes west of the foreclosure property and I should know within the next couple of days what the sales price was. I know the last listing price was in the mid $300’s and this house was purchased 12 December 2004 for $366,000. The highest sales price I have seen in this development was $424,000 in June 2005, but this home has been vacant/listed for 10 months now and I fear that it will go to foreclosure soon.

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