Steadfast FinancesSteadfast Finances - mortgage
26 April 2012

It’s Harder Than Ever to Get a Mortgage and It’s Only Going to Get Worse

 Mortgages         No comments

It’s becoming clear that one of the largest casualties to the collapse of the housing bubble has been easy access to mortgages. A number of changes to lending procedures has and will be restricting the ability for new borrowers to qualify for a mortgage. For the generation of young adults now saddled with record student loan debt and unemployment, being unable to get loans to by a home might be the next shoe to dro

20 April 2012

Turning your home as an investment

 Mortgages         No comments

With home loans at record lows, eager home buyers are taking the opportunity to purchase their first home. A large percentage of previous and current home buyers suffered in the recent crash of the housing market. This was caused by many factors that affected the economy as well as individuals purchasing homes that they could not afford. In addition, mortgage home loan rates were more than double the current home loan rates. In this ideal buyers market for home buyers, it is important to evaluate the best possible route for turning your home into a beneficial investment and not a liability.

12 April 2012

Why are Home Foreclosures Picking Up in 2012?

 Banking,Real Estate         1 comment

After several months of improvement, we are beginning to see home foreclosures pick up again. Last month, data showed that nearly half of states are seeing a dramatic increase in foreclosures. It’s not a giant surprise, many experts are expecting 2012 to be a boom year of foreclosure filings and there are a number of interesting developments that help us to understand why.

2 April 2012

Benefits of an Adjustable Rate Mortgage

 Real Estate         4 comments

Adjustable rate mortgages are loans that offer the buyer low interest rates for some set period of time, such as five years. These rates will fluctuate depending on the prevailing market interest rate. Of course, this means that the interest rates rise or fall depending on the market situation. This fact is especially important when you are living in a crumbling economy like that of the United States with hardly any national income growth these days.

10 December 2010

When Will Real Estate Investors Get Government Stimulus Funds?

 Real Estate         No comments

Many, dare I say most, people believe that real estate investors caused the real estate bubble. At the risk of upsetting the entire mainstream and non-real estate investing crowds, I don’t believe this is the case. Why? Because few people seem to be realize is that the real estate bubble was actually a result of [...]

9 July 2010

Real Estate Sales: A Record Fall to Record Low

I find it mildly amusing when Main Stream Media (MSM) suggests that bloggers, and industry professionals who rely upon the Internet to disseminate their professional opinions/research, should not be considered a trusted resource as a whole. A case in point why MSM’s argument is rubbish: this scathing article by HousingStory.net about the collapse in real [...]

1 June 2010

Should Lenders Have Known Better?

I ran across an interesting article in the New York Times today where it would appear that consumer psychology among homeowners in foreclosure has taken a change for the worse, or better, depending upon your point of view. It [lender giving a home equity loan] was a stupid move by their lender, according to Mr. [...]

10 May 2010

The Social Stigma of Foreclosure is Ending

There is safety in numbers. Or so says the old adage tells us. So with nearly 25 percent of all U.S. homes underwater, and estimates as high as 20 percent of all foreclosures being strategic defaults, more underwater homeowners are beginning to see others crossing the strategic default bridge. In fact, underwater homeowners are beginning [...]

26 April 2010

Strategic Defaults: I Hate to Say ‘I Told You So’ but…

I’m not much for saying “I told you so” regarding my trends that will influence the markets in 2010, but this story of a young professional getting a free bachelor pad in the gorgeous sunshine state of Florida for 28 months (and counting) is just too newsworthy to pass up. The details: Owner purchased a [...]

15 April 2010

We’re Only Halfway Through the Foreclosure Problem

For those who believe the financial crisis has passed us by and the real estate market is set for a super quick rebound, here’s an unpleasant dose of reality for you. For every 1 family who got a government mandated mortgage modification, 10 families still lost their homes. 1.7 million families lost their homes in [...]

6 April 2010

Homeowner Fires Realtor, Gives Away Mercedes Benz to Sweeten Deal

 Real Estate         No comments

Think the economy is improving and homeowners aren’t desperate to sell? Think again. This motivated seller is obviously dissatisfied with his Realtor’s performance, and decided to sweeten the pot with by throwing in his Benz as a freebie. Desperate? Yes. Effective? Time will tell. I realize this example is a bit extreme and might not [...]

3 March 2010

Pay Extra for Turnkey Real Estate or Save with Fixer Upper?

 Real Estate         6 comments

For some time now, I’ve been considering becoming a real estate investor (>1 property) once again. Even though real estate prices haven’t found their absolute bottom yet (my non-professional opinion only), I’m thinking that 2010 might be a decent time to test the waters, do some bottom fishing, and see what sort of deals are [...]

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