Latest Updates: Mortgage RSS

 Print This Post
• 

  Top 10 Tips for New Homebuyers

  John Butzko 3:44 pm on March 2, 2010 | Comments:0 Permalink | Reply
  Tags: buyers (23), first time buyer (14), homebuyers (25), Mortgage, real estate market (100)

  

  Work with professionals to avoid purchasing a home too small for your family.

  Buying your first home is the realization of the American Dream. This exciting, overwhelming and even frightening experience brings an array of emotions brought upon by feelings of achievement, apprehension and joy–all wrapped into the walled and roofed structure you now call home.

  To make the most of this life-enhancing event, you need to be sure that every step you take is in the right direction and with your best interests in mind. Before you sign those closing papers, there are many things to consider. To help you along, here are the top 10 tips for new homebuyers who plan to get the most from their first home: (More …)

  • 
   

  Reply Click here to cancel reply.

  Name (required)

  Email (required)

  Web Site

   
 Print This Post
• 

  Ask Ann- Describe the Mortgage Options Available for Today's Distressed Home Owner

  Holli Schleicher 4:57 pm on February 16, 2010 | Comments:0 Permalink | Reply
  Tags: homebuyers (25), housing market (15), housing recovery (9), Michael Saunders & Company (44), Mortgage, real estate market (100)

  We asked Ann Stickel-vice president of Affiliated Services for Michael Saunders & Company Mortgage, LLC-what government programs are available for distressed homeowners? Also, how these government loans help keep people in their homes and the foreclosure rate at a minimum.

  If you have questions for Michael Saunders, email AskMichael@michaelsaunders.com.

  • 
   
 Print This Post
• 

  Ask Ann - The Government's Impact In The Mortgage Industry Over The Past Six Months

  Holli Schleicher 4:50 pm on January 5, 2010 | Comments:0 Permalink | Reply
  Tags: first time buyer (14), homebuyers (25), housing market (15), Michael Saunders (30), Michael Saunders & Company (44), Mortgage, real estate market (100)

  Ann Stickel, Vice President of The Michael Saunders Division of Affiliated Services, discusses the changes in the mortgage industry over the past six months. These changes will help protect the consumer as well as give the consumer a better understanding of their mortgage product.

  To view the view, please click here.

  • 
   
 Print This Post
• 

  How Will The New FHA Guidelines Affect YOU?

  Ann Stickel 3:42 pm on December 10, 2009 | Comments:0 Permalink | Reply
  Tags: buyers (23), credit score (2), DTI, Federal Housing Administration, FHA, Gino Blefari, home, Intero Real Estate, loans, Mortgage

  By Gino Blefari, President and CEO – Intero Real Estate Services, Inc.

  For many years, the Federal Housing Administration, by virtue of its policies designed to help people with lower incomes or those just starting out, made it possible for millions of Americans to purchase their own homes. They made it possible for these people to take part in the American Dream.

  Fast-forward to 2006, at the height of the “boom” real estate market, and the FHA found itself backing just 3 out of 100 home loans, as “non-conforming” loans were being given to, pretty much, whoever asked for them, and their requirements were virtually hassle-free when compared to those that the FHA had in place.

  Today, the FHA backs 3 out of every 10 new home loans, because, as other lenders have tightened restrictions, FHA has followed the status quo, keeping things fairly liberal.

  The result of all of this? Problems. Big ones.

  On December 2, 2009, the Secretary of Health & Urban Development, Shaun Donovan, stood before Congress and announced that the FHA’s cash reserves have fallen well below the Federally-mandated level of 2%, to a staggering .53%.

  To try to alleviate the FHA’s problems and raise reserves to their legally-required levels, Mr. Donovan indicated sweeping changes would be coming to the FHA’s loan process. Here’s some of what you should expect:

  (More …)

  • 
   
 Print This Post
• 

  The Neighborhood Report - Manatee County

  John Butzko 3:55 pm on September 3, 2009 | Comments:0 Permalink | Reply
  Tags: Bradenton (8), inventory (25), lakewood ranch (9), manatee (18), Michael Saunders & Company (44), Mortgage, Sarasota County (19)

  

  Properties on Tidy Island

  Turn-of-the-century bayside villages, quiet rural settings, country club communities, comfortable urban neighborhoods and secure retirement enclaves are all part of Bradenton and Manatee County.  Bordering the Gulf of Mexico between Tampa and Sarasota, Manatee County has earned the reputation of being one of the friendliest communities in on the Gulf Coast, in addition to its diverse neighborhoods and Florida charm. The agents of our Bradenton office proudly serve the residential opportunities throughout Manatee County and beyond.

  Manatee County Sales Reports

  Pam Ali, branch manager of Michael Saunders & Company’s Bradenton office, is pleased to report significant activity in home sales throughout Manatee County. In the Multiple Listing Service (MLS) for Manatee County, there were 243 single-family homes that sold in the last 30 days. The average sales price was $230,488. (More …)

  • 
   
 Print This Post
• 

  Making Home Affordable: Help for America's Homeowners

  Ann Stickel 3:27 pm on August 31, 2009 | Comments:0 Permalink | Reply
  Tags: Fannie Mae, Financial Stability Plan, Freddie Mac (2), Making Home Affordable, Mortgage, refinance program

  As many homeowners continue to struggle with making their home mortgage payments and fear of losing their homes, there is help available. The government program and website http://www.MakingHomeAffordable.gov provides homeowners with home mortgage information from both Freddie Mac and Fannie Mae as well as contact information for the mortgage servicers who have committed to assist eligible homeowners with either refinance or modification options which may provide them with the opportunity to stay in their homes.  The Making Home Affordable site also shares some great “how to’s” to guide homeowners through these challenging times and help them avoid pitfalls when reaching out for assistance.  I’ve attached a flyer which provides an overview of some of the support options available – please feel free to share this with homeowners you may know who could use this information.

  Click on the document below to open and save as a PDF.
  

  
  

  • 
   
 Print This Post
• 

  7 Tips for Getting a Preapproved Mortgage

  Ann Stickel 3:31 pm on August 19, 2009 | Comments:3 Permalink | Reply
  Tags: Ann Stickel (3), banks, brokerages, buyers (23), credit score (2), financial biography, homebuyers (25), income, loan, Michael Saunders and Company (5), Mortgage, mortgage lenders (2), pre-approve (2), preapproval letters, rate quote, real estate market (100)

  With stricter qualifications and more scrutiny than previous years for securing a home loan, preapproval letters provide piece of mind for sellers in knowing that the buyer is capable of handling the purchase. The following article lends some helpful tips for homebuyers in today’s market.

  Today, the first step in landing a home loan is obtaining a letter of preapproval. This means a mortgage lender has verified that you’re approved for a mortgage of a certain amount over a fixed timeframe.

  Preapproval letters are prepared even before you’ve picked out your home. They remove some of the uncertainty in the home-buying process. In the current housing market, real estate agents and sellers won’t want to work with buyers unless they have one.

  “Before you even get in my car, you want to get preapproved,” says Gerry Bourgeois, a real estate broker and president of Towne & Country Realtors in Leominster, Mass.

  With a letter in hand, buyers know exactly how much they can borrow – and therefore how much house they can afford. A preapproval letter shows the seller and the seller’s agent that the buyer is capable of buying their house. “For most sellers, the issue is not whether they can get an offer, but whether they can close the deal,” says Tara-Nicholle Nelson, a real estate broker in Oakland, Calif.

  Agents see preapproved buyers as more serious (and more valuable) because they’ve taken proactive steps to secure a preapproval. When it’s time to make an offer, a preapproved buyer will be in a better position to negotiate.

  Here’s what home buyers need to know about the new rules of mortgage preapproval.

  (More …)

  • 
   
 Print This Post
• 

  Survey Says: Consumers Believe in Homeownership

  Ann Stickel 12:05 pm on July 29, 2009 | Comments:0 Permalink | Reply
  Tags: homeownership, Mortgage

  Here is a piece of encouraging news for everyone in our industry. It is comforting to know that consumers still believe in homeownership and recognize this as the ideal time to buy. With reduced home prices matched with low interest rates, we are experiencing a true recipe for real estate success. The big question now: Who is still sitting on the fence?”

  Market In Review: The Wells Fargo View Sm

  Despite the ups and downs in the economy, Americans still believe in the dream of homeownership. According to the June PULSE Top 25 Metropolitan Statistical Areas Survey, 83 percent of consumers believe buying a home is a good financial decision.

  Attitudes of respondents in their prime home purchasing years (ages 25 to 44) had not been adversely affected by the market in the past several years.

  In fact, three-fourths of survey respondents said now is a good time to purchase a home because of home price declines. Low interest rates (see chart), tax benefits, and seller incentives also remain attractive for consumers looking to purchase their first home or move up from their current home.

  

  • 
   
 Print This Post
• 

  The Neighborhood Report - Main Street

  John Butzko 2:04 pm on July 21, 2009 | Comments:2 Permalink | Reply
  Tags: bird key (7), inventory (25), longboat key (17), Michael Saunders (30), Mortgage, pending sales (14), real estate market (100), Sarasota (46), Siesta Key (13)

  

  MS&C Main Street Office

  Sarasota’s downtown is a vibrant destination brimming with a wealth of fine restaurants, specialty shops and splendid cultural attractions. With lifestyle options varying from soaring penthouse residences to quaint cottage-style homes, the downtown area boasts the perfect opportunities for anyone seeking the vivacious pace of city life. Centrally located at 1801 Main Street, Michael Saunders & Company’s downtown office is perfectly sited to allow our Realtors the convenience to serve property buyers and sellers throughout Longboat Key, Lido Key, Bird Key, Siesta Key and anywhere in Sarasota quite easily. 

  How is the Downtown Sarasota Market?

  Gary Loughlin, branch manager of the Main Street office, finds the market to be improving in general with property pricing being the most important consideration for both buyers and sellers. As of July 17, the downtown Michael Saunders office has over 40 pending transactions, a number that already exceeds the total of July 2008. This month’s closings span the pricing spectrum and involve properties that have spent a variety of time on the market. Of course, some are very quick closings and others have been in the works for quite a while. (More …)

  • 
   
 Print This Post
• 

  The Neighborhood Report - Englewood

  John Butzko 3:00 pm on July 9, 2009 | Comments:1 Permalink | Reply
  Tags: Englewood (7), financing (2), first time buyer (14), foreclosures (10), Mortgage, Short Sales (4), tax credit (22)

  Visitors from around the world choose Englewood for its unspoiled beaches and some of the richest fishing grounds found in the Gulf of Mexico. Staffed by an exceptional team of area specialists, our Englewood office is strategically located at the intersection of Highway 776 and Beach Road, along the shores of Lemon Bay.

  How’s the Market in Englewood?

  According to Barbara Fendley Saputo, branch manager of Michael Saunders & Company’s Englewood office, business to date in 2009 has surpassed 2008 in the same timeframe by 27 percent. Every component necessary to make this an opportune time for a buyer is in place:

  • Low interest rates
  • Reasonable prices
  • Favorable exchange rates for foreign buyers (More …)

  •