Foreclosures Hit 5 Year Low

Friday, October 12th, 2012

Foreclosure filings were at their lowest level in five years last month, according to a new report by RealtyTrac, an online marketer of foreclosed properties. Foreclosure filings were down 7% in September from the previous month and were down more than 16% from a year ago. That’s the lowest number of filings since September 2007. […]

New Refi Options for FHA Loans

Friday, April 20th, 2012

There’s a new mortgage refinance option for those with FHA loans that can benefit you even if you’re upside-down in your home. The program would lower your interest rate to 4% or below. There are some criteria you must meet in order to qualify: Your current home loan must be FHA-insured and must have been […]

Mortgage applications jump 10.3% as interest rates decline

Friday, November 11th, 2011

According to Housingwire, Mortgage Applications were up this week as rates dropped.   If you are thinking of refinancing, deciding whether or not to buy, or considering an investment or 2nd home, rates look good!   Article below:   Mortgage applications increased 10.3% this past week as more homeowners refinanced existing mortgages or took advantage of […]

Answers to your HARP Questions

Monday, October 31st, 2011

Lots of people are asking me about the governments revamped HARP program.  Here is some basic info about the program and links to more detailed information. There are 4 basic criteria: Your existing home loan must be guaranteed by Fannie Mae or Freddie Mac Your home must be a 1- to 4-unit property You must […]

Troubled homeowners get a lifeline

Tuesday, October 25th, 2011

The government announced a new program to help upside down home owners take advantage of today’s ridiculously low mortgage rates.  If you think the program may be a fit for you, go to our Financing Page and fill out an application to speak w/ Mark Daker at Fidelity Bank. Article below from NEW YORK […]

Possible Changes to FHA Loans

Wednesday, August 24th, 2011

We wanted to pass along a note below from our preferred mortgage banker, Mark Daker, regarding a possible change in FHA loans. Here is Mark’s take: Over the last couple of months, there has been quite a bit of speculation as to whether FHA would drop their loan limits. Initially, I thought this was unlikely […]

Atlanta Mortgage Lending Partner – Mark Daker, Fidelity Bank

Friday, June 17th, 2011

At Team Rich Richardson, we try to surround ourselves with the top vendors in each facet of the real estate transaction. We know how important this is to making your home buying or selling experience the best it can possibly be. When buying a home, one of the most important partners is your lender. They […]

Low 15 Year Interest Rate for Mortgages in Georgia

Saturday, June 11th, 2011

It seems unbelievable that you can borrow money to buy a house for less than 4.0% interest.  It’s true, you can. On June 10th, the mortgage interest rates at Fidelity Bank in Georgia were Conventional 30 Yr Fixed  4.375% Conventional 15 Yr Fixed  3.625% FHA Mortgage 30 Yr Fixed  4.250% Those are some low interest rates!  Want […]

Mortgage rates hit new lows for 2011

Thursday, June 2nd, 2011

Think mortgage rates couldn’t go down any more? You wouldn’t be alone, but last week they just hit the lowest point of 2011 according to The 30-year, fixed-rate mortgage rate fell to 4.6% in the most recent Freddie Mac Primary Mortgage Market Survey, reaching a new low for 2011. That compares to a rate […]

Bank of America to Reduce Mortgage Balances

Friday, March 26th, 2010

Bank of America announced Wednesday that it would introduce a program to help distressed borrowers from losing their home. The program focuses on loan modification for those who have experienced a hardship, yet continue to make payments over a period of time. The article below does a great job of explaining all of the details […]