Top 5 real estate posts of the day 5/28/2009
1) What happened, what does it mean, and where do we go from here? – Tom Vanderwell takes a good look at the current news headlines and how they effect mortgage rates. And as a bonus, Rhonda Porter looks at what happened to mortgage rates yesterday as they went up, way up.
2) Do you qualify for a loan modification? – Here are some general guidelines that can help determine if you qualify for a loan modification or not. Just remember these are general guidelines and not hard and fast rules as each lending institution is different.
3) Real estate’s nonsensical business model – Jonathan Dalton takes a look at why buyers should hire a professional to help them find a home. While he makes a good case I think the part of the buyer broker agreement that gets ignored is how it protects the buyer, not our paycheck. If you were going to court would you the prosecutor to represent you too seeing he already knows about the case anyways? No, which is why the buyer should hire their own representation.
4) Bait and switch: How to ruin this game – Justin McHood should be the consumer’s favorite read when they are looking for a mortgage and a loan officer’s worst nightmare. He is always good at giving us gory details about what goes on behind the scenes in the loan industry. Buyers and agents representing the buyers both should read this.
5) Joining the NAR’s multiple listing issues and policies committee – It is good to see that we (real estate online community) have one of our own (Jay Thompson) representing us on the MLS issues and policies committee. Good luck Jay, I think are going to need it.
