The Gurrola Team: Updates and Info

For the first half of the year, three quarters of the nation's metro areas reported an increase in foreclosure filings. RealtyTrac has reported that the worst hit states continue to be California, Florida, Arizona, and Nevada, with Las Vegas being the most affected city. However, the cause of for...

Part of the financial reform bill signed by President Obama includes the creation of a Consumer Financial Protection Bureau that will oversee the mortgage lending industry. However, it may be awhile until we start to see any results from the pr0mised agency. It's going to take some time before th...

May showed a small gain in home prices, rising 1.3% from April and 4.6% from a year before. The gain is most likely a result of the last part of the Home Buyer Tax Credit and does not reflect a real trend in the market. Looking at the larger picture, it is more of a reflection of the stabilizing ...

If your credit score is holding you back from getting a mortgage loan, getting a rescore may help to get you back on track. Mortgage rates are at rock bottom right now, but there hasn't been a great upswing in applications. Some of the catalysts seem to be the expiration of the Home Buyer Tax Cre...

More homeowners were dropped from the government's foreclosure prevention program in June. Usually homeowners are dropped from their trial modifications if they do not complete the required paperwork, don't meet the qualifications, or don't submit their payments. About 45% of people dropped from ...

Fannie Mae is planning to impose a new rule starting on September 1 that will prohibit the lenders selling its loans from changing the value set by an appraiser. They must contact the appraiser if they have any issues with the valuation, but they cannot just chop the price that is supporting the ...

The home buyer tax credit has been extended by another three months. Buyers who signed a purchase contract by April 30 but could not close the deal by the deadline now have until September 30 to do so. The tax credit offers up to $8000 for some buyers. Estimates say that up to 180,000 home buyers...

For those homeowners who are deeply underwater on their mortgages, refinancing is not always an option. However, if they really want to take advantage of the current low interest rates, they can try a cash-in refinance. In the past, homeowners have cashed out some of the equity on their homes by ...

Though it's not really surprising, the level of home sales dropped drastically following the end of the homebuyer tax credit. The National Association of Realtors reported that pending home sales dropped 30% in May. It is the largest monthly decline since the NAR began monitoring sales in 2001. T...

A federal report revealed that more than half of all homeowners that had modified mortgages fell at least 2 months behind on their payments a year after the adjustment was made. Adjustments made in 2009, however, seem to do better because they largely focused on lowering monthly payments. 40.7% o...