KCM Blog

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Loans

Can Option ARMs Bear the Weight of Interest Rates?

March 11, 2010

In a previous post, we talked about our concerns regarding the number of families in 2010 that were going to have their Option ARM mortgages resetting or recasting. The term ‘reset’ deals with the change of interest rate. The term ‘recast’ deals with the actual change in the mortgage amount. In either case their mortgage payment could be affected. [...]

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FHA 203(k) – Understanding Its Real Value – Part 2

March 5, 2010

Here is Part 2 of Skip Schenker’s two part series on understanding the FHA 203(k) and its real value. In case you missed yesterday’s, here is a link to Part 1.
How Is the Appraisal Completed?

The appraiser is given a detailed report from either a licensed contractor [for the “Streamline” 203(k)]; or from an FHA 203(k) [...]

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FHA 203(k) – Understanding Its Real Value – Part 1

March 4, 2010

Many readers have requested a post on the FHA 203k program. I was lucky to meet Skip Schenker, a national expert and instructor on the subject, while we were both speaking at a conference in Dallas last month. I asked him to share some of his thoughts. Here is his contribution. – Steve Harney
The FHA [...]

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Buyers and Sellers Team Up on Financing- Part 2

February 18, 2010

Last week, we began with a premise…that Buyers have a WANT (the lowest monthly payment, even more than the lowest Sales Price) and Sellers have a NEED (to differentiate their home from all the others on the market), and that creative approaches to financing is a method to satisfy both Buyers and Sellers.  Part I [...]

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Buyers and Sellers Team Up on Financing

February 11, 2010

Let’s start with the premise that buyers do NOT buy big ticket items (like a home or a car) based on its sales price; rather, they buy based on their proposed monthly payment (or cost).
Additionally, when looking to sell your home with so much availability of homes on the market, the biggest challenge a seller [...]

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6 Questions You Should Ask Your Lender

January 6, 2010

This article is brought to you by guest blogger and mortgage planning specialist, Dean Hartman.  Feel free to leave Dean any questions or comments below.
More and more, consumers are learning that there is much more to getting a mortgage than just the interest rate and points.  A good mortgage planner is more in the advice [...]

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Money to Purchase AND Renovate Your Home

December 17, 2009

Whether you are looking at a Foreclosed Home, Bank REO, a Short Sale, or any home really, you need to be aware of the FHA 203K Program.  The general condition of real estate has taken a dip over the past few years, as homeowners are not sprucing up their homes as they have in the [...]

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