Free Online Mortgage Resources For Buyers & Sellers

Popular real estate Web sites like Zillow.com and CyberHome.com offer new features to home buyers and sellers.What would it take to make you move out of your current home? Is there a price that would get your attention? Now, Web sites, like Zillow.com, allow home owners to passively post information about their home, along with a price that would make them consider selling, even if they are not actually selling their home.For the home buyer, you'll search for property on Zillow.com and you'll not only see an aerial view of all the homes and corresponding selling prices in your desired neighborhood, but you'll also see colored flags marking homes which are for sale, recently sold or contain information related to the free “Make Me Move!” feature. The new feature is adding a fresh approach to new home buying.CyberHome.com recently joined the online real estate market by offering online tools similar to Zillow.com. One of the most notable includes allowing visitors to select house upgrades such as new baths, kitchens or flooring in order to see the direct impact of the housing value. All of these new online features help more buyers find their dream home, while giving the sellers a chance to maximize the value of their current home.High Risk Subprime Loans Lead to More Home LossFortunately, 96 percent of mortgagees make their payments on time.Subprime home loans are high risk loans offered primarily to people with blemished credit histories, or low incomes, in an effort to help them enjoy the benefits of home ownership. Unfortunately, the risky loan options are leading many home owners to foreclosure.A March 27th paper, released by the Center for Responsible Lending (CRL), reported that subprime originations during 1998 to 2006 may lead to a net loss of homeownership for almost one million families. The news is shaking up Wall Street, along with high risk players in the mortgage industry; however, according to most analysts and economists, the news is not a surprise. In fact, most of the big players in the mortgage industry, such as Freddie Mac and Fannie Mae, have little to no exposure to subprime loans because of the high risk involved. 96 percent of mortgagees do make their payments on time and are not at risk for foreclosure. Another bright side to the subprime fiasco, according to MortageNewsDaily.com, is that we will begin to see “better managed and more risk adverse companies purchase portfolios of their bankrupt competitors at a discount and go on to make more money, housing prices will return to more reasonable levels to compensate for tightened credit.”Keeping you informed…Keeping you up to date on the latest in the housing market and making sure you are provided with the best options and rates is our commitment to you. Give us a call today at 954.678.5796 or visit our website, to learn more about the best loan options available now.