Prescott Arizona Area Foreclosure News

The National Association of REALTORs (NAR’s) Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed in November, dropped to 96.0 in November, a 16.0 percent decrease from October 2009. This decline came after a surge in activity in preceding months, as first-time homebuyers rushed to beat the original deadline for the homebuyer’s [...]

Many lenders, real estate agents, and home builders applauded when HUD said it would let banks and local governments offer short-term “bridge loans” to cover the down payment for first-time buyers eligible for the tax credit. The loans would have been available to applicants for federally insured mortgages such as Federal Housing Administration loans. 
See:  Home [...]

From Tom Henichek, a local loan officer at Mountain Mortgage
 

Tom Henichek

Thinking of buying a home in the Prescott, Arizona area?  Perhaps one of the foreclosed or REO homes? 
 
Now is the time with the incredible decline in home prices and historically low interest rates!  Are you prepared to move forward? 
 
Before you answer yes, have you consulted [...]

From Tom Henichek, a local loan officer at Mountain Mortgage
 

Tom Henichek

 On Wednesday, the Federal Reserve agreed to purchase a large amount of mortgage securities since investors are sitting on the sidelines and not actively participating in these securities. 
This action spiked a short term rally in the stock and bond markets with the bond market seeing [...]

From Tom Henichek, a local loan officer at Mountain Mortgage

Tom Henichek

Many of you are familiar with the $7,500 tax credit if you purchased a home after April 8, 2008 and before July 1, 2009.  Essentially, the government has given you an interest free loan for purchasing this home if you are not a high-income tax [...]