Mortgage lending standards were the lowest during the recent housing boom. This leniency also brought the lending industry down with the housing bubble burst that started in 2008. Lenders all over the country have had to significantly tighten their loan applicant requirements, which have led to a … [Read more...]

Following a sharp drop in the months immediately after expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts … [Read more...]

It really has to do with lowering buyer out of pocket expenses by minimizing the amount of prepaid interest a buyer pays on the mortgage at closing. Interest on a mortgage starts from the date the contract closes, but the majority of loans are due on the first day of the month. So when the loan … [Read more...]