Oh Hurray....we get calls, e-mails....lenders everywhere are screaming the interest rates are 5ish percent....Yahoo,.....a stimulating factor to the housing market...call your buyers...tell your folks to re-finance....save money....! Now...we get calls from the folks who THOUGHT they could take advantage of this new low rate....and did not realize that the housing market slide in values means that the equity they thought they had....because they.....had a down payment, made improvements....the house down the block (never as nice as theirs) sold for $X two years ago...is gone...the house would not appraise today for a price that would give them at least 5% to be able to re-finance and take advantage of a lower interest rate. Unless there is more money to pay down the mortgage....and the homeowner is re-financing less....back to upside down. Unfortunately, lower interest rates aren't the answer for everyone.
If you are unsure of what your home is worth...want to take advantage of a lower rate....have missed mortgage payments...just don't know what to do....Call us...from anywhere in the country and we will find you a local, qualified professional to evaluate your situation and get you the advice you seek and the help you need to make the best possible housing decision.
Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS
Sally
How correct; there are many variables that make up the equation.
How is your refrigerator? Tell it I said hello.
Tom Braatz
Waiting for you to raid the refrigerator....and thank you for your comment !
I find most of the time people remember what a home went on the market for but not the price it sold at. Plus, they don't stop to consider that falling prices means their home's value has decreased as well, nor do they typically understand loan-to-value ratios. It's standing, so it must be worth something, they reason. :)
Hey, I see you are a fan of Angie's List. Me, too!
Sally,
There are 19 reasons to refinance!
I have to tell you, I am impressed by your "Real-ness," you get the same Sally on her blog as you do on the phone or in person. Kudos to you for your honesty and integrity!
Thanks Joe....we call it "Hansons House of No Repressions"....tell it like it is...
U bet Elizabeth..Angie rocks....!
Telling it like it is is so important for clients especially in today's market of lower prices and so many being upside down. Unfortunately, what you say is too true, many can't refinance because of their value.
Thanks Christine for the comment....it is nasty to pay when folks have been current on the mortgages and money is tight....not to be able to take advantage of saving money is a cruel economic penalty.