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Down 33.8% from last year, pending home sales are still managing to remain above market forecasts. With contract signings increasing 2.5%, HG House Market seeks to provide potential buyers with the best advice & rates for homeownership. Find out how we're helping buyers today!
The "war for top talent" is a major issue in the business world today. Many companies are moving their operations to locations where they can find and retain the best employees. This article discusses the reasons for this "war" and why companies are moving their operations.
When a borrower files for bankruptcy, their assets and debts are evaluated by the court. The court will then determine whether the borrower can repay their debts and, if so, how much they can repay. If the court finds that the borrower cannot repay their debts, they will be discharged from them. As a lender, you can prepare for bankruptcy filings by evaluating the borrower's assets and debts, as well as their ability to repay their debts.
The appraisal process for a home purchase can be lengthy and stressful for all parties involved. However, there are some best practices that can help to speed up the process. For buyers, it is important to be prepared with all required documentation upfront. This includes a loan application, proof of income, and a credit report. Sellers can help by providing a list of recent home improvements, as well as any relevant HOA documents. Appraisers will need access to the property, so it is important to clear any obstacles in advance. Lastly, everyone should be available to communicate throughout the process to avoid delays. By following these best practices, the appraisal process can be much smoother and quicker for all involved.
As the home equity space continues to grow, lenders are looking for ways to reduce costs. One way to do this is by using technology to automate the process. This can help reduce the amount of time it takes to close a loan and can also help reduce the amount of paper that is used. Additionally, lenders can use data to better target marketing efforts and to identify potential fraud.
In recent years, lenders have begun convincing potential homebuyers to "marry the house and date the rate." In other words, they encourage buyers to find a home they love and then shop around for the best mortgage rate. The problem with this approach is that it can lead to buyers overpaying for their homes.
Mortgage rates are at historic lows, so now is a great time to buy a home. However, lenders are urging buyers to be cautious when shopping for a home. They should make sure to find a home they love and then shop around for the best mortgage rate. This way, they can avoid overpaying for their home.
According to Fannie Mae, home sales are expected to nose dive in 2023. The decrease in sales is attributed to several factors including: the decrease in purchasing power for buyers, the rise in interest rates, and the decrease in affordability. In addition, the number of homes on the market is expected to decrease, further hindering buyers. Despite the decrease in sales, Fannie Mae expects prices to continue to rise due to strong demand and limited supply.
The FHFA is set to replace the classic FICO score with a new credit model that is more inclusive of a wider range of borrowers. The new model will consider factors such as rent and utility payments, which are not currently included in the FICO score. This change is expected to help expand access to credit for millions of Americans who have been historically underserved by the financial system.
