Jose Leon

SNEAKY HOME BUYING FEES THAT YOU NEVER GET BACK-

Well, I couldn’t disagree more. That’s like saying that you are throwing money away buying food because when you eat it, it’s gone. Guess what? There are costs to living. And that includes the roof over your head. There are even home ownership costs you don’t get back.

Buying a home is the biggest money decision you will ever make. Don’t take it lightly, and remember that it’s not about playing house. Buying a house you can’t afford can sink you into financial prison, no matter how nice it is.

Now, homeownership can be the right thing for you, after all. Just know, though, that nothing in finance is one-size-fits all, especially when it comes to buying versus renting your home.

Here are some of the fees that fall under the closing costs umbrella:

Read the Full Story Here! - http://www.forbes.com/sites/nicolelapin/2015/04/13/sneaky-home-buying-fees-that-you-never-get-back/

MORTGAGE APPLICATION RISE POINTS TO MORE HOMEBUYERS-

Loan applications to purchase a home rose for the third straight week, but lower interest rates were not enough to spur mortgage refinances.

Total mortgage application volume rose 0.4 percent week-to-week on a seasonally adjusted basis for the week ending April 3, according to the Mortgage Bankers Association (MBA). The move was driven entirely by a 7 percent surge in applications by homebuyers. Purchase applications are now 12 percent higher than the same week one year ago

"Purchase mortgage application volume last week increased to its highest level since July 2013, spurred on by still low mortgage rates and strengthening housing markets," said Mike Fratantoni, MBA's Chief Economist.

pplications to refinance loans, which made up 57 percent of total volume, fell 3 percent from the previous week and are down 47 percent from a year ago, even though interest rates were 70 basis points higher for a 30-year fixed loan in the same week of 2014.

Read the Full Story Here! -http://www.cnbc.com/id/102567894

MORTGAGE APPLICATIONS SURGE ON SPRING DEMAND-

Despite volatility in interest rates, mortgage applications moved decidedly higher last week, continuing their strong stride into spring.

Total volume increased 4.6 percent sequentially, on a seasonally adjusted basis for the week ending March 27th, according to the Mortgage Bankers Association (MBA).

"This week's mortgage application survey falls right into line with recent indications that home sales – new, existing and pending – are on the rise, as is consumer sentiment," said Lynn Fisher, MBA's Vice President of research and economics."

Pedestrians pass a sign advertising mortgages at a Citibank branch in New York.
Scott Mlyn | CNBC
Pedestrians pass a sign advertising mortgages at a Citibank branch in New York.
Despite volatility in interest rates, mortgage applications moved decidedly higher last week, continuing their strong stride into spring.

Total volume increased 4.6 percent sequentially, on a seasonally adjusted basis for the week ending March 27th, according to the Mortgage Bankers Association (MBA).

"This week's mortgage application survey falls right into line with recent indications that home sales – new, existing and pending – are on the rise, as is consumer sentiment," said Lynn Fisher, MBA's Vice President of research and economics."

Mortgage applications to purchase a home rose 6 percent week to week and were 8 percent higher than one year ago. Applications to refinance, which are more dependent on interest rate levels, rose 4 percent for the week and are 44 percent higher than they were one year ago

Read the Full Story Here! - http://www.cnbc.com/id/102551267

LONG RANGE PLANNING IN YOUR HOA-

A manager of a seniors homeowner association once commented "We have to approach long range planning carefully around here. Many of our residents won't buy green bananas."

While it's understandable that some folks may not relate to long range planning for practical reasons, the truth is that many, regardless of age, live "in the now". This attitude is reinforced by the incredible abundance with which our country is blessed and a sense that no matter what happens, someone will be there to catch us if we fall.

Read the Full Story Here! - http://realtytimes.com/consumeradvice/hoaadvice1/item/33801-20150325-long-range-planning-in-your-hoa