Real Estate And Mortgage Section

Real Estate And Mortgage Section (REAMS) consists of information relating to real estate and mortgage financing… with emphasis on FHA 203k financing.


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One of the programs that I wrote extensively about on this blog and spent much of my time promoting, while still active as a mortgage lender representative, is the FHA-insured 203k rehabilitation loan. Having said that, I recently came across a video on the subject of 203k mortgages which does a great job of promoting the program and I want to share it with you. Click the REbuild USA link below to watch the video:


REbuildUSA With 203k on NBC Miami

Here are my remarks on this video:

This video hits the nail on the head about the FHA-insured 203k program!
It manages to convey (in 4 minutes, 45 seconds) the true essence and real benefits of the program, something I have been writing about for at least 3 years.
Thanks to Dennis & Teresa for putting 203k in the spotlight where,
hopefully, more first-time home buyers and qualified refinancing homeowners,
will take advantage of the program. I do intend to feature the video on my…
RealEstateAndMortgageSection.com (REAMS) website.

Reams Admin.

Read This Story About The Grand Colonial

An Ideal Time to Sell Your Home Might Be Now

If you are a home owner who contemplated selling your home, but was apprehensive, unsure or even tentative because market conditions were still not reflective of the promising signs you had expected; then now may be the time for you to take another, closer look at the real estate market.

First you will notice that the Conventional 30 Year fixed rate mortgage (FRM) at the time of this writing is 4.09% (FHA: 3.75%) which is closer to the 52-week low of 3.94% (FHA: 3.50%) than the 52-week high 4.85% (FHA: 4.60%) and therefore is more favorable for attracting more buyers.

You will be pleased to learn also that home prices have – according to leading analysts – have rose in February and March of this year, but more importantly property values “…rose 13.1 percent compared to February 2013…” and were “…up 12.9 percent on an annual basis….” according to a Mortgage News Daily article titled, ‘Price Increases Slow in Latest Case Shiller Report,’ in which the home pricing index reports were relied upon.

And this from an article published to CNBC’s website: “Year over year, the index jumped 12.4 percent, S&P/Case-Shiller said, a slightly slower rate than February’s 12.9 percent surge but well above Wall Street’s estimates.”

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What this means is the rise in property values even exceeded what the Wall street experts had predicted, and when the market out-performs the experts, it might be time to approach the matter of selling in a more serious way.

However, this is not to suggest that you rely solely on what is being said here, as it is always important to do your own research and market watch in a more consistent and closer manner using the above data more as a starting point. Another factor which must be taken into consideration is what can only be thought of as “pent-up” demand of your buying market after such a long cold winter.

Pent-up demand is a term often used by real estate professionals to describe a condition that exists in the marketplace.

It is a condition which can be described as previously restrained home buyers now eager, and maybe overly anxious to buy a home thereby satisfying a previously overwhelming desire to acquire the home they have long coveted but were unable to because of an existing condition that prevented them, albeit a condition they had no control to stop or to change, such a phenomenon in this case was the weather.

The long, cold winter to which I refer is known as the polar vortex which crippled a large swath of the country, with the northeast having been hit hardest, thereby rendering any home buying activity almost non-existent.

Other factors that strengthen this current demand is the consistently low interest rates already mentioned, the sustained appreciation in property values evidenced by market data and analysis and “double-digit price increases” seen in many of the country’s metro areas over the past year and supported by “home price index reports” mentioned above, as well as the ever decreasing supply of available homes for sale.

This decreasing supply of homes can be attributed to a phenomenon that has its origins in a statement made by the highly regarded and respected investor, Warren Buffett who holds the multiple positions of chairman, president, and CEO of Berkshire Hathaway, a company he started some fifty years ago.

Candace Taylor, in her article ‘Hedge funds try to turn a profit, one home at a time’ quoted Mr. Buffett as saying that he would ‘buy up “a couple hundred thousand” single family homes if it were practical.’

Based on Mr. Buffett’s immense influence in the investment community, this statement – as with most other statements he makes – has had a tremendous influence on other investors, and was enough to create a single family home buying frenzy “so intense that distressed homes in [a number of] areas have grown scarce, driving up prices and forcing investors to expand to other markets.” Types of investors participating, and the markets in which they were first active as described by Ms. Taylor are captured in the following passage from that article:

REITs, hedge funds and private equity players have competed to buy thousands of foreclosed houses in states like California, Nevada and Arizona — where the downturn left thousands of homes available for pennies on the dollar — renting them out to yield handsome returns.

So yes, now might be as good a time as any – since the pre-recession days of last decade – to sell your home; and this time of the year when the weather is increasingly more pleasant, and potential home buyers who were almost to the point of hibernation in their places of residence due to the harsh winter weather, are more actively looking to buy that home they have wanted for such a long time, is ideal for putting your house on the market.

The Aspect Of Wedding Finance And Avail It

Wedding is one of the biggest days of your life. No doubt you want it to be big and grand. However, the problem of finance may slow down your dream. However, with the help of the loans you can get your bid fat dream wedding with ease. However, before plunging into taking loan you need to know that what kind of loans you can opt for. Also, you need to remember some important points to ensure that the loan process doesn’t prove to be a hassle for you in the future.

Think and act

To finance the wedding people often sell their investments. They also empty their savings to keep up the cost. However, none of it is a good idea. You do not want to put your future in jeopardy for the sake of present. You need to be calculative and practice. To start with you need to set out a proper budget plan. Pick out the things which are non-negotiable and you will have to get them. Then take into consideration the other expenses you are going to have. Also, put away some money for the sake of sudden expense. You also need to demarcate your income sources in order to ensure the amount of money you can spend. It is better to stick to your wedding budget than crossing it and landing up in future trouble. Also, try to clear the heavy expenses first.

Loan against your house

Yes, getting a loan by keeping your house as collateral is often the easiest way to get hold of the necessary wedding finance. However, there may be risk factor associated with it. You definitely do not want to lose your house in order to finance a wedding. While taking the loan check out the terms is a proper manner. There are some interest types where you have to a small amount of interest for first few months and then suddenly the whole amount increases. Before taking a loan against your house, ensure that you are not preparing a huge payment pothole for yourself.

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The insurance loan

Well, if you are having a life insurance policy which is active for years and you have been paying the premiums in a diligent manner, then taking a loan against it can be your best option for access to quick money. The advantage of this installment loan lenders are that you do not have to pay the loan amount back in cash. However, this will have an impact on the death benefit policy. After the demise of the policy holder, the beneficiary will get only that amount which is left after fulfilling of the outstanding loan. Also, if there is a change in the market rate then the interest charged on the loan will also change.

Summing up

The best way to finance a wedding is by saving from an early time. This is the easiest way you can opt for. However, you can also follow the other ways to get instant cash for the wedding. Plan your finances in a proper manner to have a happy wedding.

Maintaining Financial Focus In Life With Loans And Investments

Personal finance management is very important in life. Whatever may be the income in your life, with proper financial management you can maintain a balanced life as well as pepper it with some luxurious items every now and then. Even if your earning is high, you need to spend it wisely and save for future or with some extra money, make more money out of that. Spending wisely is the key to financial management. Spending money wisely does not mean you will not give in to your passion or you will not spend luxuriously, but it rather means striking the right balance between extravagance and frugality.

Loans and its Effects

Trying to keep up with the peer pressure can sometimes lead to debts. In recent times, life is filled with temptations. We need to control these temptations or else it might have a disastrous effect on our lives which can go beyond our reach. If loans have to be taken, it has to be under extreme emergency. Avoid taking multiple loans, as this increases your financial burden. Even if you have taken loans, try and repay the whole amount as soon as you get the opportunity. There is a certain time limit set before which if you wish to repay the loans no credit check you have to pay a penalty. Try and repay the loan after this period. The interest rate charged is so high, that at the end of the loan tenure, you end up paying almost the amount of loan taken.

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In some cases, the scenario takes a pretty bad shape, when the inability to repay the loan leads the person to opt for another loan and so it becomes a trap eventually, from which the debtor finds it difficult to get out of. Soon, this disturbs the everyday life and the person succumbs to depression which can turn fatal. So you have to very careful not to give in to this trap and lead a balanced financial life.

Balancing Personal Financial Life

You have to distribute your income into proportionate parts, for spending, for repaying loans and keeping aside money for investments. Money is required for future, for old age and if not invested properly, then you might have to turn to another loan in that financial crisis, or worse still begging money from others. So, it is best to have the foresight and save for the future, as nobody knows how the situation might turn out to be in future.

Understanding the Dynamics of Loans

In case you have to opt for a loan, understand its dynamics carefully. If you have taken a mortgage loan, be very careful about the agreement. The mortgaged item should be returned back to you after the repayment of the loan. Additionally, go through the clauses and conditions stated in the agreement carefully. If required, get your lawyer to go through it and then agree. A loan might seem to be the easy way out in times of need, but it might not seem so in the long run.