Why I decided to refinance RIGHT NOW- Housing Market 2020 // Are you considering refinancing your mortgage but waiting to see if interest rates go even lower? What documentation is required for a self employed business owner to qualify for a new mortgage loan? In this video, I discuss Why I decided to refinance my mortgage right now instead of waiting for lower interest rates.

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Articles I referenced in this video:

Fannie Mae sees record-low mortgage rates through 2021
https://www.housingwire.com/articles/…

Should I refinance? In this video, I tell you why I decided to refinance my mortgage and why it made sense to me at this time. Are interest rates going lower? Maybe but I wasn’t willing to risk losing the interest rate that was quoted to me and I was in a position where I could qualify so I decided to move forward with the refinance.

I hope this housing market update provides you with insight on refinancing and what you should do if you are considering taking advantage of lower interest rates to lower your mortgage payment.

Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? Do you believe that interest rates will go even lower? Are you one of those that believe there is a real estate bubble or a housing market crash 2020 coming? If so, why do you believe that

Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty

Connect with me:

B L O G ➳ http://www.jebsmith.net/blog
F A C E B O O K ➳ https://www.facebook.com/cbhbrealtor
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Are you a tenant in a multifamily property? Do you own multifamly property currently in mortgage forbearance? If you answered yes to either of these, then I have some good news. Fannie Mae and Freddie Mac just announced a housing market 2020 extension that will benefit both tenants and multifamily property owners. In this video, New Forbearance Update to protect Tenants and Multifamily – Housing Market 2020 I discuss the update released by FHFA, explain the details of the extension and how it might benefit you.

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Articles Referenced in this video: FHFA Provides Tenant Protections
Protections apply to properties with Enterprise-backed loans that are in forbearance

https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Provides-Tenant-Protections.aspx

Other Articles you might be interested in:

Consumer Relief Guide – Your Rights to Mortgage Payment Forbearance and Foreclosure Protection Under the Federal CARES Act – https://files.consumerfinance.gov/f/documents/cfpb_csbs_consumers-forbearance-guide_2020-05.pdf

Fannie Mae Loan Lookup: https://www.knowyouroptions.com/loanlookup
Freddie Mac Loan Lookup: https://ww3.freddiemac.com/loanlookup

when does the foreclosure moratorium end? As of now, the moratorium ends on Aug 31 2020.

can I be evicted for not paying rent? Yes but currently if are renting a property and haven’t been paying your lease or rent payment and the loan on the property is owned by Fannie Mae, Freddie Mac or FHA then you can’t be evicted until August 31st.

FHA Press Release – https://www.hud.gov/press/press_releases_media_advisories/HUD_No_20_081

FHFA Press Release – https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Extends-Foreclosure-and-Eviction-Moratorium-6172020.aspx

I hope this housing market update provides you with insight on forbearance and what you should do if you can’t make your mortgage payment or are currently behind on your mortgage payments .

Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? Do you believe there is a foreclosure wave coming after the foreclosure and eviction moratorium ends? After watching this video, do you believe there is a real estate bubble or a housing market crash 2020 coming?

Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty

Connect with me:

B L O G ➳ http://www.jebsmith.net/blog
F A C E B O O K ➳ https://www.facebook.com/cbhbrealtor
I N S T A G R A M ➳ https://www.instagram.com/jebsmith

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Are you wondering what’s happening in the Real Estate Market for July 2020? In this video, I give you my housing market 2020 forecast as well as my thoughts on a house market crash 2020? In this housing market 2020 Real Estate Market Update: July 2020, I break down the current data including pending home sales, updated mortgage forbearance numbers, buyer demand and interest rates and I also discuss current trends of the housing market 2020 California.

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Articles Referenced in this real estate market update:

US Pending Homes Sales Surged 44% in May
https://www.housingwire.com/articles/u-s-pending-home-sales-surged-a-record-44-in-may/

Mortgage Forbearance numbers rise after 3 week decline
https://www.housingwire.com/articles/mortgage-forbearances-rise-after-three-weeks-of-decline/

New Home Sales jump 16.6% in May vs 1.9% expected
https://www.cnbc.com/video/2020/06/23/new-home-sales-jump-16point6percent-in-may-vs-1point9percent-expected.html

Coronavirus rebound: SoCal pending home sales back above 2019 pace
https://www.ocregister.com/2020/06/27/coronavirus-rebound-socal-pending-home-sales-back-above-2019-pace/

I hope you appreciate this housing market 2020 recovery update as well as this California housing market report from your local Huntington Beach Real Estate Realtor, Jeb Smith.

Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?

Do you believe a house market crash 2020 or real estate bubble will happen? If so, why? What are your thoughts on the huntington beach real estate market and the potential real estate crash for orange county real estate?

Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty

Connect with me:

B L O G ➳ http://www.jebsmith.net/blog
F A C E B O O K ➳ https://www.facebook.com/cbhbrealtor
I N S T A G R A M ➳ https://www.instagram.com/jebsmith

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When will the housing market crash? Are we in a housing bubble? Is there a huge foreclosure wave coming? In this video, I discuss the housing market 2020 in more detail along with my thoughts on housing bubble 2.0 and a potential real estate crash. My advice…..Keep Calm and Carry On.

In this real estate market update with Josh Lewis of Buywise Mortgage, we discuss the housing market 2020 forecast, interest rates and answer the question of will the housing market crash in 2020? I hope this real estate market analysis from someone on the front lines gives you a little more clarity on a potential housing crisis.

Will all of the loans in forbearance turn into foreclosures? Most homeowners have equity in their homes along with Fannie Mae and Freddie Mac helping homeowners with mortgage forbearance lead me to believe that we won’t have a huge foreclosure wave coming. If homeowners get in trouble and can’t make their payments, they should be in a position to sell their homes.

Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast? Do you believe there is a real estate market crash 2020 coming after the foreclosure and eviction moratorium ends? After watching this video, do you believe there is a housing crisis or real estate bubble in the future for 2020?

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Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty

Connect with me:

B L O G ➳ http://www.jebsmith.net/blog
F A C E B O O K ➳ https://www.facebook.com/cbhbrealtor
I N S T A G R A M ➳ https://www.instagram.com/jebsmith

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NEW Mortgage Update – Interest Rates as low as 2.25% on VA Loans // UMW (United Wholesale Mortgage) announced a new VA loan program today for the housing market 2020 that offers borrowers an interest rate as low as 2.25% for both purchase mortgages and refinances. In this video, we discuss whether this is clickbait advertising or a real interest rate that you can take advantage of as well as what it may cost you to do so and what you should be doing RIGHT NOW if you are considering refinancing.

In this video, I break down the new program UWM is offering on VA Loans and super low interest rates and what it could cost you in order to take refinance.

Here is the article that I mentioned in the video: UWM now offering VA loan program with mortgage rates as low as 2.25%

https://www.housingwire.com/articles/uwm-now-offering-va-loan-program-with-mortgage-rates-as-low-as-2-25/

Pending home sales are up while Interest Rates keep moving down, are we seeing a housing market 2020 recovery or will this be the next house market crash 2020?

What trends are you seeing in the housing market 2020 California and what are your thoughts on the current housing market? Do you believe interest rates will head lower?

I hope this mortgage update provides you with the insight you need if you are considering taking advantage of these low interest rates. If you are wondering should I refinance, make sure you call a mortgage broker and have that conversation. They can help you answer that question and let you know if you can even qualify for this UMW loan program, how much it may cost and what documentation do I need to refinance my home

Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? After watching this video, do you believe you should be refinancing your mortgage now or waiting for a real estate bubble and interest rates to drop?

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Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty

Connect with me:

B L O G ➳ http://www.jebsmith.net/blog
F A C E B O O K ➳ https://www.facebook.com/cbhbrealtor
I N S T A G R A M ➳ https://www.instagram.com/jebsmith

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Do you know your rights to mortgage forbearance and foreclosure protection under the Federal CARES Act? In this video, New Forbearance Update – Mortgage Forbearance and Foreclosure Protection I discuss your rights to mortgage forbearance, the foreclosure and eviction moratorium and the steps to request forbearance under the CARES Act. I also discuss the process of filing for a forbearance mortgage after recently refinancing or purchasing a new home.

Consumer Relief Guide – Your Rights to Mortgage Payment Forbearance and Foreclosure Protection Under the Federal CARES Act – https://files.consumerfinance.gov/f/documents/cfpb_csbs_consumers-forbearance-guide_2020-05.pdf

Fannie Mae Loan Lookup: https://www.knowyouroptions.com/loanlookup
Freddie Mac Loan Lookup: https://ww3.freddiemac.com/loanlookup

Fannie Mae Forbearance Call Script: https://singlefamily.fanniemae.com/servicing/covid-19-forbearance-script-servicer-use-homeowners
Freddie Mac COVID-19 Call Script: http://www.freddiemac.com/about/pdf/covid_19_forbearance_servicer_script.pdf
FHA COVID-19 Questions and Answers: https://www.hud.gov/sites/dfiles/SFH/documents/SFH_COVID_19_QA.pdf
VA Circular 26-20-12: https://www.benefits.va.gov/HOMELOANS/documents/circulars/26_20_12.pdf

when does the foreclosure moratorium end? As of now, the moratorium ends on Aug 31 2020.

can I be evicted for not paying rent? Yes but currently if are renting a property and haven’t been paying your lease or rent payment and the loan on the property is owned by Fannie Mae, Freddie Mac or FHA then you can’t be evicted until August 31st.

FHA Press Release – https://www.hud.gov/press/press_releases_media_advisories/HUD_No_20_081

FHFA Press Release – https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Extends-Foreclosure-and-Eviction-Moratorium-6172020.aspx

I hope this housing market update provides you with insight on forbearance and what you should do if you can’t make your mortgage payment or are currently behind on your mortgage payments .

Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? Do you believe there is a foreclosure wave coming after the foreclosure and eviction moratorium ends? After watching this video, do you believe there is a real estate bubble or a housing market crash 2020 coming?

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Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty

Connect with me:

B L O G ➳ http://www.jebsmith.net/blog
F A C E B O O K ➳ https://www.facebook.com/cbhbrealtor
I N S T A G R A M ➳ https://www.instagram.com/jebsmith

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Interest Rates are now below 3% so how do you take advantage if you are looking to refinance or purchase a new home? What factors go into determining the interest rate that you are quoted? In today’s video “How do you get the best interest rate – New Housing Market 2020 Update” I go over the factors that your mortgage professional uses to determine your interest rate, explain the difference in interest rate vs apr and also give you some things you should be doing if you are considering refinancing in the near future.

How do you get the best interest rate? There are several factors that go into determining your interest rate. While each of these is a factor, they all build on one another. What I mean, is just because you have a good credit score doesn’t mean you get the best interest rate, the other factors are just as important

1. Credit Score
2. Loan to Value (LTV) – What you owe versus what the home is worth
3. Loan Type – Conventional, FHA, VA, USDA, etc…
4. Loan Purpose – Purchase, rate term refinance, cash out refi
5. Attached vs Detached
6. Occupancy Type – Owner Occupied vs Investment vs Second Home
7. Loan Amount – Conforming vs High Balance vs Jumbo

All of these factors determine your interest rate in addition to how your mortgage broker gets paid. If they build their commission into the interest rate, that may also mean you get a higher interest rate versus paying any origination points to get a lower interest rate

Interest Rate vs APR – Interest Rate is how your monthly payment is calculated where APR is the fees associated with the cost of your loan amortized over the life of the loan.

I hope this mortgage update provides you with insight on interest rates, apr and what you should be doing if you are considering doing a cash out refinance, refinancing rate term or purchasing a new home.

Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? Do you believe interest rates will head lower? I’d also love to know if you believe there is a real estate bubble or a housing market crash 2020 coming?

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Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty

Connect with me:

B L O G ➳ http://www.jebsmith.net/blog
F A C E B O O K ➳ https://www.facebook.com/cbhbrealtor
I N S T A G R A M ➳ https://www.instagram.com/jebsmith

➜➜➜ SUBSCRIBE FOR MORE VIDEOS ➜➜➜
To never miss a video about personal finance & real estate related topics, please subscribe to my channel & then hit the bell notification here ➜ https://goo.gl/NZB1S6

Fannie Mae, Freddie Mac and FHA just announced they have extended their foreclosure and eviction moratorium for the second time pushing it out 2 months until August 31 2020. In my latest Housing Market 2020 Update: NEW Foreclosure and Eviction Moratorium Extension Video, I read the most recent press releases and give you my thoughts on what the future holds for foreclosures and evictions.

when does the foreclosure moratorium end? As of now, the moratorium ends on Aug 31 2020

can I be evicted for not paying rent? Yes but currently if are renting a property and haven’t been paying your lease or rent payment and the loan on the property is owned by Fannie Mae, Freddie Mac or FHA then you can’t be evicted until August 31st.

FHA Press Release – https://www.hud.gov/press/press_releases_media_advisories/HUD_No_20_081

FHFA Press Release – https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Extends-Foreclosure-and-Eviction-Moratorium-6172020.aspx

I hope this housing market update provides you with insight on foreclosure and eviction and what you should do if you need if you are behind on your payments and haven’t filed for mortgage forbearance. As I mentioned in the video, FHA not only discusses forbearance in their press release they also mention their partial claim option which tells me they are showing their willingness to help homeowners and tenants avoid both foreclosure and eviction.

Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? Do you believe there is a foreclosure wave coming after the moratorium ends? After watching this video, do you believe there is a real estate bubble or a housing market crash 2020 coming?

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Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty

Connect with me:

B L O G ➳ http://www.jebsmith.net/blog
F A C E B O O K ➳ https://www.facebook.com/cbhbrealtor
I N S T A G R A M ➳ https://www.instagram.com/jebsmith

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Fannie Mae sees record low interest rates through 2021, should you refinance now or wait? What documentation is required to refinance? If I filed for mortgage forbearance, can I still refinance my home? In this NEW Housing Market 2020 Update – Interest Rates, Refinancing and Forbearance video, we are going to discuss the recent drop in interest rates, the documentation that most lenders will require for refinancing, if you can actually get a rate under 3% and the process of refinancing after forbearance.

Are we seeing a housing market 2020 recovery or will this be the next house market crash 2020? In this video, I break down the current data including Fannie Mae’s prediction on interest rates and trends of the housing market 2020 California and give you my thoughts on the current housing market and interest rates with my real estate market report 2020.

I hope this mortgage update provides you with the insight you need if you are wondering should I refinance, asking yourself what documentation do I need to refinance my home or what’s the process of refinancing after forbearance. market report from your local Huntington Beach Realtor, Jeb Smith.

Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? After watching this video, do you believe you should be refinancing your mortgage now or waiting for a real estate bubble and interest rates to drop?

Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty

Connect with me:

B L O G ➳ http://www.jebsmith.net/blog
F A C E B O O K ➳ https://www.facebook.com/cbhbrealtor
I N S T A G R A M ➳ https://www.instagram.com/jebsmith

Buying a home in this housing market can be tough especially with the lack of available homes for sale. How can you beat out multiple offers? In this video, I give you 5 tips that I use with buyers when writing real estate offers to help their offers stand out in multiple offer situations.

In my last video, where I discussed the housing market 2020 forecast (Real Estate Market Update – June 2020), I mentioned how buyer demand was up 13% year over year and how we are experiencing multiple offer situations on a number of the home buyer offers we are submitting. In this video, I will guide you on how to help you put your best foot forward and get your offer accepted by your local Huntington Beach Realtor, Jeb Smith.

How to win when there are multiple offers

1:37 – Buyer Letter – Write a letter to the seller of the home explaining who you are and what you love about the home. You are trying to get the seller to have an emotional response to your offer.

3:02 – Shorten your contingency time frames or Waive your Contingencies altogether

6:00 – Shorten your escrow time frame

8:21 – Put a larger deposit as your EMD (earnest money deposit)

9:45 – Use an escalation clause to get your offer to be the highest price

What is an escalation clause?

Escalation Clause Definition

An escalation clause is a real estate contract, sometimes called an escalator, that lets a home buyer say “I will pay x price for this home, but if the seller receives another offer that’s higher than mine, I’m willing to increase my offer to y price.”

Example of an Escalation Clause in Real Estate

Let’s say that I put in an offer on a home for a Buyer at $600,000 with an escalation clause that says my buyer is willing to pay $1000 more than the highest offer. That would mean that if another buyer wrote an offer for $610,000 then my offer would now stand at $611,000 in this example. This would allow my buyer to always be the highest offer assuming the other side doesn’t do the same thing. I usually recommend that a Buyer put a cap on their price to read something like “buyer is willing to pay $1000 more than the highest offer up to $615,000”, that way you put a limit on the number you are willing to go up to and not get carried away. I also suggest that you put something in the escalation clause that states the listing agent must provide you with proof of the other offer.

Please let me know your thoughts on these tips to win a multiple offer. I’d also love to hear your predictions for the housing market 2020 forecast and the housing market 2020 california?

What are your thoughts on the huntington beach real estate market? Is there a housing bubble? Do you see a real estate crash coming?

Jeb Smith (Huntington Beach Realtor/orange county real estate)
DRE #01407449
Coldwell Banker Realty

Connect with me:

B L O G ➳ http://www.jebsmith.net/blog
F A C E B O O K ➳ https://www.facebook.com/cbhbrealtor
I N S T A G R A M ➳ https://www.instagram.com/jebsmith