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Mortgage Delinquencies

by Elizabeth Rodgers

Mortgage Delinquencies - National Numbers

2nd Quarter - 2010

All Mortgages:

     4.57% in Foreclosure     9.40% in Default (30+ days late)     13.97% Total

Prime Mortgages:

     3.49% in Foreclosure     6.66% in Default (30+ days late)     10.15% Total

Subprime Mortgages:

     14.38% in Foreclosure     25.90% in Default (30+ days late)     40.28% Total

FHA Mortgages:

     3.62% in Foreclosure     12.63% in Default (30+ days late)     16.25% Total

VA Mortgages:

     2.50% in Foreclosure     7.48% in Default (30+ days late)     9.98% Total

 

All Mortgages - 2010

Total Distressed Properties:     6,216,650

Total Predicted Sales:            3,830,000

 

For more information go to www.LocalHomeSaver.com

 

*Based on default percentage for all mortgages

**NAR, Lawrence Yun

 

Your Closing Could Be Delayed!

by Elizabeth Rodgers

I found this in the ARA newsletter, and thought I would pass it along.  The artical reads...

 

Dear Mr. Homebuyer,

      Please be advised that your closing could be delayed.  Stated income/stated asset and no doc loans are no longer available.  This means that I am going to verify everything.  Once everything is verified, I am going to do it again before closing.

     If you tell me that you have been at your job for two years and I find out that it has really been one year and nine months, your closing could be delayed.  If you say that you make $40,000 per year and I find out that $10,000 of that is from a part time Mary Kay business, your loan closing could be delayed.  If you fail to tell me about the Mary Kay business and you actually report a loss on your tax return, I will find out and your closing could be delayed.

     If you change jobs or even put in a notice to quit prior to close, I will find out and your closing could be delayed.  I am going to pull your credit at the time of application and then again right before closing.  If you have purchased a new car, charged up your credit card or took advantage of a 10% discount at the Gap by applying for a credit card, your closing could be delayed.  I am going to get a transcript of your tax return directly from the IRS so if you haven't filed your tax return like you say you have, your closing could be delayed

     I am going to verify every penny you have to bring to closing.  If you have large deposits in your bank account or plan on using cash or depositing large sums of cash, your closing could be delayed.  If your loan amount or interest rate changes or anything from your original application changes from what was originally disclosed, your closing could be delayed.

 

Warmest regards,

 

John Q Loan Officer

Any Bank USA

Rent Condo for Hogs Game!

by Whitney Kirkpatrick

One bedroom furnished condo with pull out sofa bed in addition to a queen bed in a private bedroom, stack washer/dryer, dishwasher, stove, microwave and all linens, plates, dishes etc. included. Television in bedroom and flat screen provided in living area. Guests have access to outdoor pool while in season. Basic cable is provided.

Call Today to Reserve this Condo!

by Whitney Kirkpatrick

One bedroom furnished condo with pull out sofa bed in addition to a queen bed in a private bedroom, stack washer/dryer, dishwasher, stove, microwave and all linens, plates, dishes etc. included. Television in bedroom and flat screen provided in living area. Guests have access to outdoor pool while iseason. Don't miss out on this GREAT deal and call The McNaughton Team today!

Rent By The Weekend!

by Elizabeth Rodgers

One bedroom furnished condo with pull out sofa bed in addition to a queen bed in a private bedroom, stack washer/dryer, dishwasher, stove, microwave and all linens, plates, dishes etc. included. Television in bedroom and flat screen provided in living area. Guests have access to outdoor pool while in season. Basic cable is provided. For More information, click here.

 

 

Displaying blog entries 1-5 of 5

Contact Information

Photo of Don McNaughton Real Estate
Don McNaughton
McNaughton Real Estate
4299 W. Persimmon
Fayetteville AR 72704
479-442-9099
Fax: 479-442-0948
       

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