The following is a true story.
I have a family member who bought her home in 2005. The economy was better then and real estate was hot in Boulder Colorado. Prices were high, inventory was low, and banks were more lenient with loan qualifications. She makes over $50,000 and has a steady job. However, she just had a baby and would like to buy a bigger home. As expected, she got her home ready to list and had the home appraised first in order to determine a price.
What do you guess happened? Click here to find out.
Many people all over the country, as well as locally in Boulder and Denver, are wondering if they qualify for mortgage help under the Obama administration plan. Homeowners may be in one of two scenarios. For instance, many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates becasuse the value of their home has decreased. Others are unable to make their monthly payments because their interest rate has increased or they have less income. The administration’s housing plan provides two types of assistance that are designed to help make mortgages more affordable for up to nine million homeowners. Find out what the assistance options are and how to qualify.