Kansas City Real Estate Network

Question: My Chapter 13 has been discharged for six months and I have a 704 credit score (avg.) with a debt to income ratio of 28%. As such, can I qualify for a Mortgage to buy a home in Kansas City? If so, where should I look for a mortgage? Thanks. Charlene, Kansas City Answer: Unfortunately, Charlene, I'm going to be the bearer of ...

USDA Rural Development Loan Limits for 2012 have increased. This means that home buyers looking in USDA elegible areas and using a USDA RD loan can purchase a slightly more expensive home. Eligible cities in Kansas City on the Kansas side of the state line are: Spring Hill, Gardner, Edgerton, Baldwin City, Wellsville, Paola, ...

Fannie Mae Issued New Forbearance Guidelines for Unemployed Borrowers who are Behind on Their Mortgage Payments  Fannie Mae issued new guidelines to its servicers this week that allow lenders offer a temporary forbearance program of suspending or reducing the monthly payments for borrowers who are unemployed. Servicers can approve ...

MANY KANSAS CITY HOMEOWNERS GET AWAY WITH DEFAULTING ON MORTGAGE PAYMENTS FOR YEARS.... Never realizing the long-term impact of all of those missing payments on their credit scores. Reggie and his wife Barbara called and asked me to help them market their home for a short sale.  We had an in-depth telephone conversation prior to our ...

4 men plead guilty to conspiracy to defrauding approximately 4,000 underwater homeowners.  According to court documents, the men opened up loan modification business in 2008. They used high-pressure sales tactics and outright lies to induce customers to purchase $1,995 to $4,495 loan modification services. They used false claims ...

Choosing the wrong mortgage company can hurt you when buying a home in Kansas City  Loan officers and mortgage companies are all the same. The have the same products and all of their real work is done on a computer. So why not choose a loan officer or mortgage bank by what their interest rate it is, right? I wish more Kansas City home ...

6 Fannie Mae and Freddie Mac Top Executives Charged with Securities Fraud The U.S. Securities and Exchange Commission on Friday charged 6 six Fannie Mae and Freddie Mac former top executives, including their former chief executives, with securities fraud. The U.S Securities and Exchange Commission allege that the 6 former executives misled ...

How do you finance a distressed home in Kansas City that needs lots of repairs? If you are looking to buy a home in Kansas City that needs repairs, then you may have already found that finding the distressed home is the easy part. There are plenty of opportunities in the Kansas City real estate market. There is a record number of distressed ...

Are you somebody who has decent credit but very little cash, and you want to buy a home in Kansas City? In the old days of the housing boom, there were many ways to solve this problem. But today, no money down programs are few and far between, so cash-strapped home buyers need to explore all of their options. The USDA Rural Development Guarantee ...

If you haven't heard, the attorney general of Massachusetts, is taking to court 5 mortgage companies for possible foreclosure fraud. In an effort to stop the harassing phone calls and properly foreclose on homeowners, Bank of America has organized a good-intentioned event: Bank of America plans to meet in mortgage holders in Boston, face ...

If you haven't heard, the attorney general of Massachusetts, is taking to court 5 mortgage companies for possible foreclosure fraud. In an effort to stop the harassing phone calls and properly foreclose on homeowners, Bank of America has organized a good-intentioned event: Bank of America plans to meet in mortgage holders in Boston, face ...

For the second consecutive week, the FDIC and state regulators did not close any U.S. banks. 2011's total still stands at 90 banks closed. Here is a week-by-week comparison of bank closures over the past four years: RE/MAX sells more homes than any other real estate company. For a reason...should we talk? Blog post written by the Dowell ...

Senate Democrats and House Republicans proposed a plan to pay for the proposed payroll tax-cut extension. Their plan will increase  the ''guarantee'' fees that Fannie Mae and Freddie Mac will charge mortgage lenders. The government-sponsored enterprises, Fannie Mae and Freddie Mac, use the guarantee fees to cover defaulted mortgage loans ...

You Would Be Surprised Who Owns One of the Largest Mortgage Companies Who is Committing FraudDid you know that the attorney general is going after one of the largest mortgage companies for using fraudulent documents in foreclosure proceedings. The large mortgage company actually foreclosed in homeowners without holding the actual mortgage and also ...

Ally Financial's GMAC Mortgage Stops 3rd Party Lending After Being Sued for not Following the Law When Foreclosing on Homeowners In a move that the Massachusetts attorney general Martha Coakley says indicates that the lender has a problem, knows it and doesn’t want to be held accountable for it, Ally Financial’s GMAC Mortgage will stop doing ...

As Global Grew, 30-Year Mortgage Rates Drop Have Dropped - Now Mortgage Rates are Below 4%For the first time ever, 30-year fixed-rate mortgage rates have fallen to well below 4 percent, according to a mortgage market survey provided by Freddie Mac.  In the past month mortgage interest rates have continued to set new weekly record lows, but ...

Kansas City Real Estate and Mortgage INFO THAT HITS US WHERE WE LIVE... Last week's ''difficulty'' for the housing market came from the news that New Home Sales dropped 0.7% for July, to a 298,000 annual rate. They've been in this low range since May of last year, competing with existing homes selling at discounts. But there is ...

Obtaining a Mortgage After the Foreclosure of your Kansas City Home - Some Interesting Facts If your Kansas City home has been foreclosed by your lender, it must be a terrible experience for you. What is even more shocking is that on certain occasions, foreclosures become inevitable. For instance, unexpected unemployment or a health problem ...

 Federal Reserve Watch   Forecasting Federal Reserve policy changes in coming months...As far as the Fed is concerned, rate hikes are off the table through the first half of 2013. Economists are taking this as a given for now. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the ...

Kansas City’s gain was Johnson County ’s loss in a string of business announcements today that reinforced the increasingly fierce economic development border war within the metropolitan area.Several companies will be relocating to Kansas City, the largest of which is the mortgage lending operation of North American Savings Bank; members ...