Indiana Mortgage Blog
These days, most homeowners are facing a scary reality: a rapid decline in their home’s value. According to the National Association of Realtors, median existing home prices are down 7.1% from last July — and aren’t expected to recover until well into 2009.
One way to buck the trend and boost the value of your home is to make some basic renovations. There’s no need to embark on big-ticket projects — you probably won’t recoup all of the costs anyway. Instead, seek out some inexpensive projects that will not only brighten up the place, but put a little extra cash in your pocket should you decide to sell your home. Here are five worth considering:
Ask your lender questions! Don’t be afraid to ask questions when you don’t know the answer. Buying a home isn’t something you’ll probably do very often and no one expects you to be an expert when it comes to home financing. The rules are constantly changing and there are many types of mortgage loans. Too many times we’ve seen customers come to us about refinancing because they had no ideal what they truly signed up for with their last loan. If something doesn’t look right, ask about it. If your lender is talking over your head, ask them to re-explain. You’re potentially going to borrow a lot of money so take your time and make sure you understand what your putting your signature on! You can always email us a question at firstname.lastname@example.org.
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NEW YORK (Reuters) — U.S. mortgage applications rose for the first time in three weeks as near record-low interest rates spurred demand for home refinancing and purchase loans, data from an industry group showed on Wednesday.
The jump in demand came several weeks after the unveiling of the strongest government action yet to aid homeowners since the housing market’s meltdown began and may help gauge what is in store this spring, the peak home-buying season.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended March 6 increased 11.3% to 723.4.