West Palm Beach mortgage, Boynton Beach , FL home loans, real estate loans, home finance information – Todd Dawkins, www.MortgageCreditCare.com

Florida Housing Market

October 6th, 2011 12:05 PM

Bahamas "The Black Pearl"

"The Florida Housing Market"
I have done this month's article as a cartoon by using this new (to me) online software. Let me know what you think of my first effort. Make sure you scroll down after watching to see my personal footage of hurricane Wilma I just uploaded.

or read it:

Procrastination and Interest Rates

Congratulations to all you procrastinators out there! Your procrastination is really paying off in a big way.

What do procrastination and interest rates have in common? Well in this wild and crazy point in the history of America, mortgage interest rates have fallen to unprecedented lows.

Just today, I was pricing out a refinance loan for a client with an existing FHA loan. Today’s pricing on a 30 year FHA Streamline Loan was 3.75% and that’s paying back almost $700 toward her Closing costs, saving her $465 a month. (WOW)

But wait a minute they don’t have a lot of money to pay for closing costs and I HATE putting my clients backwards in their mortgage.

So what we will opt to do is take a 4.25% rate, and that will pay for almost all of her costs to refinance, without her having to take money out of her savings or add money onto her mortgage balance.

A free ride and she will save $386 a month!

That’s it… Your procrastination free ride is over.

From here on out, it is my opinion that your procrastination will hurt you, not help you. That’s right this perfect storm of Greek geratology, employment enterosepsis, and the congressional carcinosis, could be the economic epoch, which we may one day long for, as it pertains to low interest rates.

So call me right away and let’s see if it makes sense for you to refinance, and don’t assume that just because you may be upside down I can’t help you.

There is the DU Refi Plus program and others that will allow you to refinance up to 105% if you have a Fannie Mae loan.

I haven’t been excited about these programs before because the interest rates are higher and it didn’t leave enough room to make it profitable to refinance, but with rates this low it has opened a little door of opportunity.

So don’t procrastinate call me NOW! 561-714-5541

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Eye of a Foreclosure Hurricane

It seems like we are in the eye of a foreclosure hurricane. There has been a precipitous drop off in the number of foreclosed properties hitting the market.

Lets look at are Fannie Mae Home Path foreclosures for Palm Beach County and see what that tells us.

Now....

It really does feel like the eye of a hurricane to me and I should know, I was in one. See the video below of Wilma from my 4th floor condo on the intercostal.

It is really strange the way the foreclosure listings have slowed.

Maybe it is the banks sitting on the properties or maybe a back lash from the robo signing period and the foreclosures have not caught up yet. Maybe they are just drying up having been sold off already. Maybe big institutional investors are buying them straight from the banks?

Remember I said we are going to figure this out together.

Your guess is as good as mine, but one thing is for sure, I will be keeping an eye on the Florida housing market and present you the details as I get them.

To Your Financial Health,
Todd Dawkins
561-714-5541
ToddDawkins@gmail.com

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Hurricane Wilma
These videos are after the eye passed and the winded switched from the west so that we where protected by the building.

This is looking out from a sliding glass door that blew out when we where getting hit head on directly from the east.

A completely different experience than thirty minutes prior when I was too busy mopping up water to take any videos.

Posted by Todd Dawkins on October 6th, 2011 12:05 PMPost a Comment (0)

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