For Buyers – What to Expect When Buying in this Market

adminBuyer Info, Uncategorized

In a nutshell: The Denver housing market inventory remains low at all price points and prices are higher. In most cases a desirable home will receive multiple offers and usually those offers will be above the listed price. According to a Denver Business Journal headline- “Denver expected to top nation in home price appreciation again in 2016.” The appreciation amount … Read More

Federally Mandated Changes to Home Loan Procedures go into effect Oct 3, 2015

adminBuyer Info, Financing News

The TILA/RESPA integrated disclosures (TRID) rule A new rule issued by the Consumer Financial Protection Bureau (CFPB)  called the The TILA/RESPA integrated disclosures (TRID) rule takes effect on Oct 3, 2015. How it affects the Home Buyer Changes to several standard Mortgage documents Changes to timing on several procedures in the mortgage process. Creating 2 new disclosure forms to replace 4 … Read More

Mortgage Debt Forgiveness Relief Act Expires Dec 31, 2013

adminFinancing News

Mortgage Debt Forgiveness Relief Act (MDFRA) Expired on Dec 31, 2013 MDFRA, a 2007 law that prevents forgiven mortgage debt from being taxed as income. Starting January 1 2014, any mortgage debt forgiven is eligible to be taxed, creating potentially burdensome liabilities for the millions of Americans in stages of mortgage delinquency as they seek relief to prevent foreclosure. Essentially … Read More

Things NOT to Do – When Buying a Home with a LOAN

TamlynBuyer Info, Financing News

Hi Everyone, I have talked about this several times but it bears repeating.  Below is a video prepared by Joe Massey of Castle and Cook Mortgage.  Joe is a great lender and I recommend that you talk with him if you have any questions about the loan process. The process, procedures and rules for lending are continually changing and especially … Read More

First-time home buyers: Know about Your Mortgage Affordability Before Purchasing

TamlynBuyer Info

One of the foremost and crucial things to decide when you are setting out to buy a home for yourself for the first-time is what are your long-term objectives. Moreover, you’ve got to evaluate whether or not those objectives are compatible with your home ownership. It may happen that you’ve planned to turn what you pay in monthly rent into mortgage loan repayments so as to own a tangible asset … Read More

Homes are going under contract FAST!

adminBuyer Info, Local News, Seller Tips

I believe that this current trend of fast offers is another symptom of the lower than average inventory and buyers wanting to get in on the lower interest rates. The other “symptom” of this market is that home prices are continuing to rise. So more people fishing in a smaller pool. I have personally seen an increase in the number … Read More

FHA Suspends New Debt Rule

TamlynFHA, Financing News

Last week, a new FHA rule was to have gone into effect that would have mostly barred borrowers with more than $1,000, in disputed debt, from getting an FHA-backed mortgage. According to some estimates, as many as 20% of potential  FHA borrowers would instantly have become ineligible. The domino effect on the economy could have been significant. The FHA has … Read More