Interest rates continue to remain at historic lows but some metro areas are seeing larger declines than others in their APR's. LendingTree recently ranked the nation’s 50 largest metros by their annual declines in both purchase and refinance APRs. The Annual Percentage Rate reflects the true cost of borrowing by including the interest rate, points, and fees charged by a lender. As such, it is higher than the quoted interest rate when obtaining a mortgage. It looks like 6 Cali

Here are 6 types of mortgage fraud that have been found in applications. According to Corelogic, fraud is again on the rise. It climbed 12% year over year. Potential borrowers have provided false or misleading information in order to qualify for a mortgage when home prices are rising and demand is strong. This issue was rampant prior to 2007 and many attributed the crash to the banks making loans to those who could not not afford their payment. Are we heading down the same ro

Have you experienced any of these issues when buying or refinancing your home?...... As a realtor and previous REO Manager, all of these problems have come up at one time or another. Financing is a big one so it's very important to make sure you have all your documents in order, you've done everything to keep your credit clean and you pay close attention to your loan officer and get documents to them in a timely manner! #monterey #financing #lending #credit #appraisal