My New Blog

EXISTING HOME EQUITY LINES OF CREDIT

American’s percentage of home equity in their homes fell below 50 percent for the first time on record since 1945, the Federal Reserve said. As a result of these statistics, lenders have “frozen” or removed existing equity lines of credit on properties that fall into this category. During these more difficult times, many of us have depended upon these equity lines to make up the difference in our monthly commitments. If you fit into this category and want to keep your full line, you may consider putting the remaining line into a money market account or certificate of deposit to avoid any hardship down the road.

Interest rates should be falling again soon - be ready to take advantage of rates that we may not see again soon!

Have a great spring day.

Carol

Hi everyone,

I hope you all had a great weekend with family, friends or just were able to enjoy some time off.

February sales were finally up and mortgage rates are consistently in the 5's.  Spring seems to be bringing a bit more folks taking advantage of the low prices and rates before they go on the rise.  Are we at the bottom - Who knows?

Warmer weather coming back tomorrow!

Carol

Hi Everyone

Check out this article from the Wall Street Journal and have a great weekend.

 http://online.wsj.com/article/SB120485702722118581.html

Carol

Hi everyone,

Check out the great new FHA - Fannie Mae-Freddie Mac conforming loan limits out - use them and get that property you've been thinking about!

https://entp.hud.gov/idapp/html/hicostlook.cfm

Talk to you soon.

Carol

http://cg.ciniva.com/pdf/news-home-two/currituck-sound-area-transportation-study-presentation.pdf

Use this site to get the latest info on the Mid-Currituck Bridge

Also - anyone coming down the weekend of March 15-16th - the OBX HomeImprovement Expo is at the Outer Banks Mall in Nags Head - over 75 exhibitors and free admission! 

Saturday 10-6 and Sunday 12-5

Have a great weekend!

Carol