Forclosure projections and Risk Based Pricing

New tools for assessing mortgage risk. With foreclosures projected to reach 2 million nationwide by the end of next year, bankers are rethinking how they set mortgage rates. Eventually, mortgage pricing may come to resemble pricing for, say, homeowners insurance, which takes into account dozens of factors. Lenders "want to be able to assess the risk, practically down to the biological level, that you won't pay your mortgage," says Keith Gumbinger, vice president of HSH Associates, which tracks the home-lending market.

Housing data: no secrets left. With more innovative real estate Web sites popping up, everyone now knows how much everyone else's house is worth, and consumers will continue to have unprecedented access to housing information that was once found only in multiple listing services. Source: Money

New Trends in Real Estate

New trends will reshape tastes in homes and transform how you buy and sell, experts say. So what will the housing market of the future look like? Money magazine interviewed developers, architects, lenders, and more, to paint the following picture--Smaller houses. In a February survey of potential home buyers by the National Association of Home Builders, 60 percent said they would rather have a smaller house with more amenities than vice versa. "In the past, people would say 'Give me space and I'll add the features later,' " says Gopal Ahluwalia, the NAHB's vice president of research. Newly built houses will have layouts that can "live bigger" than their square footage would suggest, with rooms that can do double duty, experts say.

FHA Guidelines

FHA case number assignments on or after 7/14/08, FHA will implement “risk based” MIP Premiums on 1 to 4 unit mortgages?



Some of the highlights regarding FHA’s Risk-Based Premiums are:



UFMIP will range from 1.25 percent of the loan amount (currently 1.50%) for lower risk borrowers, to 2.25% percent for higher risk borrowers.
No borrower who qualifies for a FHA/HUD insured mortgage will pay more that 2.25% on the UFMIP and .55% for the annual premium.
Borrowers with credit bureau scores must be risk-classified by FHA TOTAL Mortgage Scorecard (AUS).
Borrowers with no credit scores will need to be manually underwritten, and the premium will be determined by the LTV.


So what if your borrowers don’t have 3 credit scores….what then?



3 scores…the middle score is used.
2 scores…the lower of the two is used.
1 score…..that score is used.


What if there are multiple borrowers?



If more than one person is applying for the loan, you use the lower of all borrowers.



What if there are multiple borrowers, and one doesn’t have a credit score?



The borrower representing the greatest risk will determine the MIP factor to be used. Example:



If one borrower has a 620 and the other borrower has no FICO score, then the factor to be used would be the “Non-Traditional” factor.



First Time Homebuyers



HUD has always “suggested” that a FTHB complete a pre-purchase counseling course. Now, if they do, they will benefit from a lower UFMIP factor……BE CAREFUL!!!! HUD requires that this class is a one on one, face to face class that has to be completed BEFORE a purchase contract is executed. HUD wants to make sure that the borrowers understand:



Budgeting and Credit
Assessing Homeownership Readiness
Financing a Home
Shopping for a home…including the professionals involved in the process
Maintaining a home

Source: Mortgagee Letter 2008-16 addresses

The Atvantages of FHA Loans - 100% Financing

The Advantages of FHA Loans

In many regions of the U.S., FHA loans have not been utilized for years, so a lot of real estate agents and mortgage originators aren't familiar with this great resource. The following are a just a few of the recent changes that have made FHA loans a more attractive option again for some
consumers looking to buy a new home or refinance an existing one:

1) Congress passed the Stimulus Act of 2008. During the recent housing boom, home values surpassed FHA loan limits in many regions of the U.S. The recent enactment of this important legislation, however, increased FHA loan limits up to $729,500 in many high-cost regions of the U.S. through the end of the year. FHA loan limits vary by county, so give us a call for loan limits in your area.

2) The FHA changed its appraisal and fee negotiating guidelines. In the past, many sellers steered clear of FHA loans because the appraisals were too strict and certain fees were non-negotiable. The FHA has greatly loosened these guidelines to make it easier for both buyers and sellers.

3) FHA loans are much cheaper now. Because FHA loans are federally insured, they tend to trade at a higher premium in the secondary market.
This means lenders can often charge a lower rate.

Other FHA Benefits

• FHA loans are not credit-score driven. Borrowers can have a lower score than other products and still qualify for a good rate.

• FHA loans require as little as 3% down.

FHA loans allow down-payment assistance programs. This allows the seller to cover the buyer's down payment and closing costs.

This means borrowers, especially first-time buyers, or move-up buyers with limited funds, have a real opportunity of getting into a home with little or no cash at closing.

For sellers, this means you can offer concessions that make marketing your home without having to lower the price of your home again.

• FHA loans allow
a) Sellers to finance all of the buyer's costs to close;
b) Homeowners to take cash out up to 95% of the home's value;
and
c) Homeowners to consolidate a first and second loan up to 97% of the home's value.


If you or someone you know is thinking about buying or refinancing a home, give us a call. We'll see if an FHA loan is right for your financial goals and needs.

Source: The Loan Tool Box

Risk Based Pricing Impact

The Federal Reserve Board and the Federal Trade Commission have announced proposed regulations that generally would require a creditor to provide a consumer with a risk-based pricing notice when, based in whole or in part on the consumer's credit report, the creditor offers or provides credit to the consumer on terms less favorable than the terms it offers or provides to other consumers. Risk-based pricing refers to the practice of using a consumer's credit report, which reflects his or her risk of nonpayment, in setting or adjusting the price and other terms of credit offered or extended to a particular consumer. Many creditors offer more favorable terms to consumers with better credit histories. The proposed rules would apply, with certain exceptions, to all creditors that engage in risk-based pricing. Under these rules, a risk-based pricing notice would generally be provided to the consumer after the terms of credit have been set, but before the consumer becomes contractually obligated on the credit transaction. The proposal provides a number of different approaches that creditors may use to identify the consumers to whom they must provide risk-based pricing notices. In addition, the proposed rule includes certain exceptions to the notice requirement. The most significant of the exceptions permits creditors, in lieu of providing a risk-based pricing notice to those consumers who receive less favorable terms, to provide all of their consumers with their credit scores and explanatory information.


Source: Mortgage Bankers Association of America

When Higher Rates Are Good News.

When are higher rates good news? The fact that rates on fixed mortgages have moved up in the past few weeks may actually be. Why? Because the rates on Treasuries have moved up further. This means that the spreads between mortgages and other rates are decreasing and could mean that the secondary markets are gaining confidence in mortgages again. Remember, part of the reason that rates on many mortgages have increased in spite of lower rates everywhere else is that the default rates on mortgages were so high. This accounted for the fact that adjustable rate mortgages and jumbo mortgages rose dramatically over the past year despite generally lower rates. Source: Origination Pro - Dave Hershman

Over 1 Million Forclosed Homes!

More than one million homes are now in foreclosure, the highest rate ever recorded, according to a trade group which warned Thursday that the crisis will continue to worsen. The Mortgage Bankers Association's first quarter report showed that a record 2.5% of all home loans being serviced by its members are now in foreclosure, which works out to about 1.1 million homes. That's up from the 2% of loans, or about 938,000 homes, that were in foreclosure at the end of 2007. The report also showed that 448,000 homes, or about 1% of loans being serviced, began the foreclosure process during the first quarter. That's up from about 382,000 homes, or 0.83%, that entered foreclosure in the last three months of 2007. The number of homeowners behind on their mortgage payments also hit a record high. Nearly 3 million home loans are now at least one payment past due, while about 737,000 are at least three months past due but not yet in foreclos ure. This marks the sixth straight quarter in which a record percentage of loans went into foreclosure. The trend has led to a widespread decline in home prices, as well as huge losses for banks and other financial firms that issued or invested in the loans. Source: CNN/Money

CalHFA Changes and Other Options for 100% Financing

Here are the changes from CalHFA

Hi All,

Be careful on CalHFA right now!!

*Note the changes below.

1) Seller credit max is 3% - even if you are doing an FHA loan
2) Nehemiah can no longer be used with Cal HFA products
3) 45.00% max DTI on manual underwriting and 55.00% on Automated
approvals
4) 3 years from BK discharge - regardless of what kind of first
mortgage you have
5) Mid low FICO of all borrowers must be 620 for 95% LTV or less or 680
for 95.01% LTV or more (Note this is LTV, not CLTV)

Please make sure you are relaying this info to your clients...

Another option for 100% financing is FHA loans with Nehemiah gifts through seller contributions (up to 6%)!

For Further information please contact our chief FHA and Nehemiah Specialist Joe Littell at joe.littell@partnersnet.com for further information.

Short Sale and Forclosure News

Banks say they want to help troubled homeowners, but they are delaying deals that could save everyone - including the lenders themselves - a lot of time and money. Lenders are taking much longer than necessary to approve short sales, according to Duane LeGate, of House Buyers Network, a short sale specialist. In a short sale, a homeowner who cannot keep up with their loan asks the lender to take a dollar amount less than what is owed on a home's mortgage, and forgive the remainder of the unpaid debt. So if a borrower has a mortgage balance of $100,000 and finds a buyer who will pay $95,000 for the house, the lender agrees to accept that $95,000 and close out the loan. "There was a much greater chance of success with these in the past," said LeGate Ideally in a short sale, everyone wins. Borrowers avoid the ugly foreclosure process that destroys their credit, while lenders recoup more of their costs than they would by s pending the time and money it takes to kick an owner out and resell the property. Lenders typically lose about 19% of a mortgage's value in a short sale, according to Clayton Holdings, a Conn.-based, provider of loan analytics, while they lose an average of 40% on loans that go into foreclosure. Coldwell Banker CEO Jim Gillespie agrees that short sales are taking too long to complete. And he speaks from firsthand experience; a short-sale offer he made on a house in Marin County, Calif. in late fall didn't win approval until April. But most buyers can't, or won't, wait that long."That's been our biggest challenge - keeping the buyers interested long enough as we wait and wait for an answer," said Jeff Morrell, a Colorado Springs real estate agent who specializes in short sales. Source: CNN/Money

Fannie Mae Removal of 5% Market Decline!!!!!!!

Following a similar decision by Fannie Mae, Freddie Mac has eliminated its controversial policy of requiring borrowers to put up larger downpayments in markets where home prices are declining. "Beginning June 1, 2008, we will allow maximum financing up to 95% LTV for most Freddie Mac mortgages in all markets," Freddie says in a May 16 e-mail message to its approved lenders. Under its declining-markets policy, the maximum amount of financing was reduced by 5% in markets where lenders determined that house prices are falling. On May 2, Freddie issued a bulletin to its lenders revising the policy so that the loan-to-value ratio of 95% became the floor for most loan products. "The practical effect [of the May 16 change] is that lenders no longer have to make that determination about a declining market," a Freddie spokesman said. As previously reported, Fannie is scrapping its declining-markets policy starting Jun e 1. Source: National Mortgage News

Industry Update

With prices falling around the nation, home price affordability has improved dramatically in many U.S. cities. As a result, 53.8% of all new and existing homes sold nationwide during the first three months of 2008 were affordable to families earning the median household income of $61,500, according to the latest Housing Opportunity Index released Tuesday by Wells Fargo and the National Association of Home Builders (NAHB). That's up from 44% during the first three months of 2007 with home prices the most affordable they've been since the three month period that ended June 30, 2004. "Three factors combined to substantially increase housing affordability," said NAHB president, Sandy Dunn, in a press release accompanying the report. "Mortgage rates returning to near the record low levels of a few years ago, a $2,500 rise in family income nationwide (from 2007 to 2008) and lower house prices." Home prices dropped about 8% compared with a year ago, according to NAHB, but that doesn't mean that buyers are flocking back to the market. "This measure can only take you so far in implications for the market," said Dave Seiders, NAHB's chief economist. "There're several factors that the index does not capture." Source: CNN/Money

Why are rates better today and what caused the improvement.

Incase you were wondering why rates are better today
and what caused the improvement in pricing…

 

Bonds are off to a tremendous start this morning in reaction to a very weak employment report. 
The economy lost 80k jobs in March and the job losses in Feb we revised to -76k from a previously reported -63k.  January’s number was revised lower, as well.  In addition, the unemployment rate increased to 5.1%.  The first quarter of 2008 has painted a bleak picture of the labor market. 

 

So what does this mean for bonds and in turn mortgages and home sales? 
You probably know that a poor employment report is good news for the bond market (as it was today).  The main reason bonds like a poor employment report is that higher unemployment means a larger supply of labor in the economy.  A larger labor pool means wages should remain low.  Lower wages generally mean lower prices and lower prices equal lower inflation.  Inflation eats away returns on long term investments.  A lower risk of inflation also means a better chance of more Fed easing.  So as long as the bond traders aren’t the ones losing their jobs they like higher unemployment.

 

In other words, when the stock market and its driving forces are hurting, Bonds are improving and vice versa. 

 

*One issue that the bond markets haven’t seen in a very long time is that there is a massive reluctance to buy mortgage backed securities because of the instability of the housing market.  What this means is that, just because the stock market takes a hit, there is still some investor reluctance to the traditional seeking of safer investments in the bonds market.

 

This is indeed a market like none of us have ever seen.  My suggestion is that you team up with someone who not only watches the market but understands it, so they can pass along information that will be affecting you directly.  For example, just like this information today and how the weak employment reports created a dip in rates and created a favorable market for home buyers and those in need of a refinance.

 

I hope this helps!

 

 

Courtesy of,

Joe Littell
Mortgage Planner

Joe's Home Page

[Mortgage News Network] There are still a few ways to get to 100% financing!

There are still a few ways to get to 100% financing!

Keep in mind that these are the options for first time home buyers with little or no reserves or down-payments.

The market is here and as you know, there are multiple offers all over the place, so fence sitting time is over!

• 100% financing is available through VA. 6%

• FHA: Go 97% LTV. Combine it with 3% gift; 3% CHDAP thru CalHFA; or 3-6% thru Nehemiah.

• CalHFA: Go 95% on their Conventional product or 97% on their FHA: Both at 6.75% for Moderate Incomes; 6% Low Income.
  Combine it with their 2% CHAP and/or their 3% CHDAP. You can also layer their extra Credit Teacher program if qualified.

• My Community or Flex: Both at 95% LTV. You can use DAP (Down Pmt. Assistance) or gifted funds to get to 100%.

There are a few specialty products such as PERS/STRS, First House and Access. All are at 95% LTV.

Please see below for links to all programs.

Cal STRS Guidelines

http://www.chl-mrb.com/BondManuals/StaticData/MRB/BondManuals/MRBBondManual.asp?bondManual=CalSTRS

Cal PERS Program Guides

http://correspondent.citimortgage.com/calpers/CalpersServlet?PageID=GetLoanEligibilityGuidelines&type=2

Cal HFA Program Descriptions

http://www.calhfa.ca.gov/homeownership/programs/index.htm

FHA Keyword Index

http://www.hud.gov/offices/hsg/keywords.cfm

FHA Lender Resource Page

http://www.hud.gov/groups/lenders.cfm

VA Lender Home Page

http://www.homeloans.va.gov/ls.htm

NHF First House Library

http://www.nhfloan.org/pub/firsthouse_guidelines.htm

NHF ACCESS Library

http://www.nhfloan.org/pub/access_guidelines.htm

DRE Broker/Agent Licensee Search

http://www2.dre.ca.gov/PublicASP/pplinfo.asp

DRE Appraiser License Search

http://www.orea.ca.gov/html/lic_appraisers.asp

NEHEMIAH Home Page

http://www.getdownpayment.com/

HART Home Page

http://www.hartprogram.com/staging/nuke/index.php

--
Posted By Mortgage News Network to Mortgage News Network at 4/01/2008 01:05:00 PM

- Final Thought -

"Problems are only opportunities in work clothes."

~Henry Kiaser

LAST MINUTE TAX TIPS!

Last Minute Tax Tips

 

Before you file your taxes, you may want to consider several last-minute tips before sending your

W-2s to Uncle Sam by April 15.

 

IRA Contributions

The maximum contribution for 2007 to your Individual Retirement Account (either Roth or traditional)

is $4,000 (increasing to $5,000 for 2008). Individuals who have reached age 50 before Dec. 31,

2007, are allowed an additional "catch up" contribution of $1,000. It's not too late to make your 2007

IRA contribution: Taxpayers have until April 15, 2008, to make their 2007 contribution. In fact, a

deduction may be taken on your 2007 tax return even though the contribution has not as yet been

made.

 

Capital Gains

The 2007 alternative capital gains tax rate for individuals in the 10 percent or 15 percent tax bracket

is 5 percent. Beginning in 2008, a 0 percent rate replaces the 5 percent rate. If you qualify for this

rate, you might consider selling capital assets that have appreciated while this 0 percent rate is in

effect. While this rate is presently in effect for next year as well, there is no guarantee that there will

not be a tax change, so you might want to take advantage of this rate in 2008.

 

Personal Energy Credits

Individuals are entitled to a variety of personal energy credits for 2007. Among these are credits for

the installation of certain energy saving devices installed in your principal residence prior to Jan. 1,

2008 (e.g. qualified exterior doors, windows, furnaces, and the like). You also may be entitled to an

alternative motor vehicle credit on your 2007 tax return if you purchased an eligible vehicle last year

(e.g. a qualified hybrid vehicle). Among other requirements you must meet, you must be the original

user of the vehicle. You would claim this credit on form 8910.

 

Foreign Tax Credit

If you are the recipient of foreign source income (e.g. dividends from a Canadian corporation) from

which foreign income taxes were withheld at the source, you may be entitled to a credit against your

U.S. income for these taxes. There are limits to the amount of credit to which a taxpayer is entitled,

but generally most, if not all, foreign taxes paid is eligible for the credit.

 

Charitable Contributions

Unfortunately for tax years beginning after Aug. 17, 2006 (generally meaning 2007), no deduction

for any cash contribution will be allowed without some bank record or receipt. For example, weekly

cash contributions to your local church would not be deductible without some form of substantiation.

 

Excess FICA

If an individual holds two jobs, each employer is required to withhold social security taxes. Since

individuals are liable for the FICA portion of such taxes only up to a total wage base of $97,500 (for

2007), in many instances a person's actual FICA payments may exceed the maximum payments

due. Don't forget that such excess FICA is a credit against taxes owed.

 

Alternative Minimum Tax

In recent years, inflation has overtaken the AMT exemption amount. Congress passed the Tax

Increase Prevention Act of 2007 late in December, which, among other things, raises the AMT

exemption amount. If you are subject to the AMT, be sure that the AMT form you are using (form

6251) is the current form, reflecting this new exemption amount.

 

Extensions

As in prior years, individuals are entitled to an automatic six-month extension to file their individual

tax return (1040). Filing form 4868 by April 15, 2008, will extend the filing deadline to Oct. 15, 2008.

It will not, however, extend the due date for the payment of taxes. The estimated amount of your

taxes is due with the filing of form 4868. Failure pay all taxes by April 15, 2008, will result in the

assessment of penalties and interest.

 

By: John Colliander

 

Joe's Home Page

 

Fed Rate Cut of 75 bps -

Home Page

 

Fed steps in and cuts again
Bernanke pulls out all the stops to ailing economy

The Federal Reserve significantly cut rates today for the sixth straight time since September. This follows a busy weekend where the Fed also extended its hand to Wall Street, bailing out Bear Stearns with JP Morgan Chase. While rate cuts look good at face value, you need to prepare for what's to come.

Why did they do this?
The Fed wants you to start spending money and wants to boost consumer and Wall Street confidence. Consumers are under stress with increasing consumer prices and a slowing housing market. Wall Street banks have been under stress from mortgage defaults and their impact on corporate balance sheets.

How does this impact you?
Fed rate cuts are inflationary. Since the Fed started cutting rates in September of last year, oil prices are up nearly 40%, gold prices are up over 25%. This is the direct result of a falling dollar which occurs from Fed rate cuts.

As a result, mortgage rates will ultimately rise from here. It is inevitable. Inflation is the arch enemy of fixed-income investments, long-term bonds and mortgage-backed securities, upon which mortgage rates are based.

Here's a look at the inflation picture: Gas prices last September, prior to the Fed's current cutting trend, were roughly $2.75 a gallon. Today, gasoline averages $3.25 a gallon nationally, up 18% before the first rate cut. This is a sign of inflation.

What should you do now?
If you are looking to refinance, don't wait. Act now to get a great interest rate. Home loan rates have come down over 1.00% in the last two weeks. But after each of the last five rate cuts, we have seen rates rise significantly in a short period of time. Don't get caught saying "I wish I had…"

If you are looking to purchase a home, I want to hear from you right away. Home prices have to fall over 10% to make back what you lose in monthly housing payments if rates increase 1.00%. There are some great buys out there today!

Next step
Pick up the phone and call me. You owe it to yourself. I will review your situation and let you know what I can do to put some money in your pocket. If you wait, it could cost you thousands of dollars. I look forward to hearing from you.

 

 

 

 

Tell EVERYONE about the NEW FHA LOAN LIMITS!!

I have some information for you and other real estate professionals that is a breath of fresh air.

The new loan limits have come out for FHA and since the real estate industry considers FHA as the new Alt-A loan program this means that more people will qualify to both purchase new homes and refinance out of bad loans!

Here are the new FHA loan limits! They are significantly higher then expected! Let me know if you need any further information since this program is the loan of the future for non-prime borrowers. These FHA loan limits can go into effect as early as next Thursday!

Three things to keep in mind are that:

1. FHA does not require reserves!

2. Although FHA is subject to risk based pricing, FHA is not fico driven!

3. FHA has the option of 30 and 15 year loans (fully amortized no interest only)!

4. The FHA secure program which is only available until Dec. 31 2008 can refinance people with negative equity. (Call for details)

The memo is below:

NEW FHA LOAN LIMITS BY COUNTY

At a speech today in Orange County, HUD Secretary Jackson announced the new limits for California. Attached are the limits by county. They appear to be about as high as we could have expected. The limits for the rest of the country should be published tomorrow. We understand that FHA will require second appraisals on loans over a certain limit (possibly $417,000) if the following conditions exist: 1) LTV is above 95%, 2) the appraiser has designated the property in a declining market and there is data that corroborates that fact. Mountain West Financial is pleased to announce we will be underwriting and approving loans at the new limits and will advise you as soon as we are in a position to lock loans at these new limits.

California County Limits

Obs	prop_addr_st	county_nm	med_price	FHA_1unit
185	CA	Alameda County	995000	729750
186	CA	Alpine County	438000	547500
187	CA	Amador County	355000	443750
188	CA	Butte County	320000	400000
189	CA	Calaveras County	370000	462500
190	CA	Colusa County	318000	397500
191	CA	Contra Costa County	995000	729750
192	CA	Del Norte County	249000	311250
193	CA	El Dorado County	464000	580000
194	CA	Fresno County	305000	381250
195	CA	Glenn County	230000	287500
196	CA	Humboldt County	315000	393750
197	CA	Imperial County	260000	325000
198	CA	Inyo County	350000	437500
199	CA	Kern County	295000	368750
200	CA	Kings County	260000	325000
201	CA	Lake County	321000	401250
202	CA	Lassen County	200000	271050
203	CA	Los Angeles County	710000	729750
204	CA	Madera County	340000	425000
205	CA	Marin County	995000	729750
206	CA	Mariposa County	330000	412500
207	CA	Mendocino County	410000	512500
208	CA	Merced County	378000	472500
209	CA	Modoc County	125000	271050
210	CA	Mono County	370000	462500
211	CA	Monterey County	599000	729750
212	CA	Napa County	615000	729750
213	CA	Nevada County	450000	562500
214	CA	Orange County	710000	729750
215	CA	Placer County	464000	580000
216	CA	Plumas County	328000	410000
217	CA	Riverside County	400000	500000
218	CA	Sacramento County	464000	580000
219	CA	San Benito County	790000	729750
220	CA	San Bernardino County	400000	500000
221	CA	San Diego County	558000	697500
222	CA	San Francisco County	995000	729750
223	CA	San Joaquin County	391000	488750
224	CA	San Luis Obispo County	550000	687500
225	CA	San Mateo County	995000	729750
226	CA	Santa Barbara County	615000	729750
227	CA	Santa Clara County	790000	729750
228	CA	Santa Cruz County	719000	729750
229	CA	Shasta County	339000	423750
230	CA	Sierra County	228000	285000
231	CA	Siskiyou County	235000	293750
232	CA	Solano County	446000	557500
233	CA	Sonoma County	530000	662500
234	CA	Stanislaus County	339000	423750
235	CA	Sutter County	340000	425000
236	CA	Tehama County	250000	312500
237	CA	Trinity County	200000	271050
238	CA	Tulare County	260000	325000
239	CA	Tuolumne County	350000	437500
240	CA	Ventura County	599000	729750
241	CA	Yolo County	464000	580000
242	CA	Yuba County	340000	425000

Final Thought

"You can't build a reputation on what you're going to do."

~ Henry Ford

Since we are either proactive or reactive, I urge you to reach out to EVERYONE you can and connect with them! Too many people are paralyzed by the bad media and the fear that grips the general populace.

By letting them know that “money is on sale”, because interest rates are so low and inventory is so high, we are all experiencing the epitome of a home buyers market.

The favor lies with the buyers and the sellers that know how to capitalize on the oppurtunities available for buyers...ie the 3-2-1 buydown, ect.

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