There are a lot of perks to living in Dublin Ranch, but skyrocketing property values is one we’ve not enjoyed for a while. Many homeowners have been looking forward to the Federal Rescue plan, but after Obama’s speech on February 18th in Phoenix, it may seem like a lost cause. What to do? Don’t give up – call your lender and see if they will modify your loan to fit your financial picture.

We just had a client who worked out their loans with Wells Fargo on a condo in the Villas. They were about four months behind on their payments, and had interest rates of 6.75% and 8.25% on their first and second loans respectively.

We heard so much about it for so long; was it worth the wait? Before the President’s speech in Phoenix this week, the expectation of many in the real estate community could have been likened to the Second Coming of Christ. So now it’s here, and you have a home in Dublin Ranch – will you qualify for help with your mortgage?

The truth is, probably not. There are a couple of reasons for that. We’ll talk about them shortly here, and if you want more info we’ll refer you to this article.

First, anyone with a “jumbo” mortgage will not qualify. A jumbo mortgage is also considered to be a “non-conforming loan” which, until last year, was any loan above $417,000. I can’t think of one client we’ve helped in the last little while who owns a Dublin Ranch home, condo or townhome, who is in trouble, and who has a first mortgage less than $417,000.

As part of a weekly email marketing campaign, we received an interesting article last week from a local loan professional.  If what it says is true, loan rates may be increasing substantially in the coming months and it may be worthwhile considering your purchase of a Dublin Ranch home sooner, rather than later. 

 The following is an excerpt of the article: