Rates dropped below 5% for the first time since March. Freddie Mac reports that the rates dipped to 4.93% which was 30 basis points the week ending May 13th. Adjustable rates ended up reporting even lower, and dropped all the way down to 3.95%. So, what does this mean?
It means that refinancing might take off, but as far as home purchase many sellers are still struggling to get out of their homes. This leaves many families considering listing their home as a short sale. A short sale is when the seller ends up selling the house for less than the homeowner owes on the home. This gives them an opportunity to get out of the home, while avoiding a foreclosure on their credit. This doesn’t feel good, but getting out from under an obligation that you can’t pay does a lot for the stressed out homeowner.
There are options out there, but it is a matter of finding the right professional to educate you on those options. I am a professional, and I can help you through every step of the home buying process, and I can help you get your home listed for short sale. I have the tools and the resources to help you get into a better position.
If you are in a good position to buy, I can help you with that as well. What I offer is a relationship, not a sale. When you don’t know where to go or who to trust, call me and I will show you the ropes. Buying a home doesn’t have to be a headache, and listing your home shouldn’t give you one either. I look forward to speaking with you today. Call me today at 310-498-2700.
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