A Millennial’s Guide to Homeownership
The Millennial Generation is the largest generation in United States history. According to the US Census Bureau:
“[Millennials] born between 1982-2000, now number 83.1 million and represent more than one-quarter of the nation’s population. Their size exceeds that of the 75.4 million baby boomers.”
If you’re one of the millions of Millennials who’s seen their peers begin to buy homes recently and are wondering what it would take for you to do the same… you’ve found the right eGuide!
There are so many stereotypes and myths about the Millennial Generation as a whole…AND about what it takes to buy a home in today’s market.
Myths have prevented many Millennials from considering homeownership as an option for them and their families.
Our goal with this eGuide is to provide you with the information you’ll need to make the best decision for you and your family in regards to homeownership. We’ll break down the myths and stereotypes that have long been believed to be true, as well as shed light on the opportunity you have to build wealth using your monthly housing cost.
Congress Considering Extending Home Buyer Tax Credit Closing Deadline
What if the home-buyer tax credit worked too well? That’s the latest concern from the real-estate industry, which says that a last-minute home-buying rush in April created bottlenecks at lenders and real-estate service companies that may not be able to finalize...
Bank of America's Matt Vernon Pushing Cooperative Short Sales
Earlier this week a top executive at Bank of America told an REO conference in Dallas that the lender would be focusing more on short sales than ever before. At first hearing this, I assumed it was because of the government's Home Affordable Foreclosure Alternative...
Another Blow For Housing…Refinancing…going. going…gone?
A surprise in this morning's weekly mortgage applications report from the Mortgage Bankers Association. I'm not talking about the part that said purchase applications tanked another 5.7 percent, now down 42 percent from where they were at the end of the home buyer tax...
30 Yr Mortgage Hits 4.58%…Creeping Ever closer to Free Money!
Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.58 percent, down from 4.67 percent at this same time last week. This is the lowest rate recorded since Zillow Mortgage...
Sheryl Crow Bailing Out of Tennessee…$7,500,000 for 154 Acres and a Sweet Pad
Singer Sheryl Crow discovered you can take the girl out of the country, but you can’t take the country out of the girl. And so, in 2008, Crow bought a magnificent 154-acre farm about 40 minutes south of Nashville to be near her sister and family in Missouri and moved...
Bank Of America Prefers Short Sales to REO's! Avoiding Foreclosure
Homeowners, this is fantastic news! Bank of America, is one of the largest lenders holding mortgages here in California... Bank of America also stated they were anticipating more strategic short sales as the housing market continues to decline. They are willing to...
Bank Of America…Equator Platform equals 200,000 Short Sales Completed
Equator, formerly known as REOTrans, has seen 200,000 short sales close on its automated platform in seven months, said Chris Saitta, CEO of Equator. Lenders can elect to enable the agent-initiated feature within Equator’s network platform, a move that the firms says...
Unemployed, Tips For Job Search..Uplifting Article, Good Source
We know times are tough, and there are a lot of you that have been laid off and looking for work. I came across this article today....for anyone that needs some encouragement and good tips on the job search. Everyone has been told it's easier to get a job when you...
Real Housewife of NJ’s in Foreclosure…More Gossip!
Nearly $11 million. That’s the amount of debt that Real Housewives’ of NJ Teresa Giudice and her husband, Joe, are facing, and includes the foreclosure of their Towaco, NJ mansion (above), which is used in the Real Housewives’ series. They have filed for bankruptcy...
Bank Of America Starts Principal Reduction.. Forbearance In The Mix….
In a recent article, Bank of America "Circles the Wagon" on principal reduction....Lot's of "May" and "If"....nothing about how much principal "May" be written down...Until we get more information....here you go! Bank of America said it has initiated its new earned...
California Assembly Bill 1639 Requires a Foreclosure Mediation Mortgage Workout Program or "MMW"
You know...the more we read about CA the less I am concerned that we are the litigious state that we have the esteemed label of being. Lot's of new laws hitting the Halls of Sacramento for consideraton...laws that have already been in place in many other states...
California Senate Bill (SB) 1275 Passed This Week More Protections for Homeowners
This new bill will protect home owners facing foreclosure on their Single Family residence by: Making it mandatory for mortgage servicers, mortgage companies and banks to file a "declaration of compliance" stating that they have followed the CA state foreclosure laws....
Shadow Inventory Up 9.1% in 1st Quarter 2010 from Last Quarter 2009
This information is hot off the press...Thanks to the fine folks at Housing Wire... According to SNL Financial and Morgan Stanley Foreclosed Properties...Increased to $41.5 in Q1 '10 up 12.4% from previous quarter. Shadow inventory up 9.1% in Q1 '10 to $78.6 BILLION...
Bank of America's Principal Reduction Program Underway
My very skeptical thoughts on this... Short Sales are successful, however, BofA does not want to pay the commissions, pay toward the 2nd and 3rd lien holders, past due taxes, etc...that is required in a Short Sale and in the HAFA program. Bank of America is going to...
Bank Of America Negotiating With Sellers Who Opt For Strategic Short Sale
This is fantastic news from Jack Schakett, Bank of America Senior Vice President for credit loss and mitigation strategies. A huge stumbling block for a homeowner doing a Short Sale is the fact that their lender may pursue a deficiency judgement. The government has...
Ontario, CA Council to Add 'In God We Trust' to the city seal at City Hall
This was such an uplifting and unexpected turn of events in our city. It makes us proud to be Residents of this city. Here is the story from our local newspaper. What is sad is that the newpapers editor had to find some "athiest" clown from another state...some place...
Rent A Home Or Buy A Home…What's Better In This Economy?
Obviously as prices come down, which obviously they have, renters who never thought they could afford a home now can. Add in a couple of government subsidies, like a tax credit and artificially low mortgage interest rates, and a touch of desperate un- or...
What's Your Opinion on Strategic Short Sales?
First an explanation of what a Strategic Short Sale really is..... You own a home that is upside down in equity. You can afford to make the monthly payments. You have made a decision to Short Sale the property and cut your losses-thinking non emotional about an...