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5 Myths, Mistakes and Misinformation about Homebuying

5Myths_CoverImageThe Minnesota Homeownership Center has created an informative infographic that highlights 5 Myths, Mistakes and Misinformation about homebuying that circulates online or that you might have heard from friends and family when you tell them that you are interested in purchasing your first home.

 

Have you heard any of the following?

–  Hurry and buy now!

–  BIGGER is better

–  Unlike rent, your mortgage payment will never change

–  I need perfect credit to get a mortgage loan

–  New mortgage rules mean I need to put 20% down

 

Learn the reality about these 5 Myths, Mistakes and Misinformation about homebuying using this new infographic.

Use the ‘SHARE’ tab on the side of this page to share this important information with your friends and family!

 

5Myths-Mistakes-Misinformation

Click To Enlarge

Posted on: Thursday, April 17th, 2014

No News is Good News For Pre-Foreclosure Notices

ScreenCap_InfoGraphicSimply put, there’s nothing newsworthy about the number of pre-foreclosure notices issued in the first quarter of 2014 to Minnesota homeowners… and that’s a very good thing!  The number of pre-foreclosure notices came in well within expectations and continued in line with the downward trend we have seen since Q3, 2010.

In the first quarter of 2014, Minnesota homeowners received only 5,528 notices, a healthy 41% drop from the number of notices issued in the same quarter of 2013: 5,528 vs. 9,291.  The Twin Cities Metro received 56% of the notices issued (3,070) and Greater Minnesota received 44% (2,458).

As always, we use the word ‘only’ cautiously when discussing foreclosures, as it still means that more than 5,500 households are not only struggling with their mortgage, but have fallen far enough behind for their lender or lien holder to begin the foreclosure process.

The Center has put together another infographic to help visualize the data surrounding pre-foreclosure notices:

PreforeclosureNotice_Graphic_Q1_2014

(Click to Enlarge)

If you, or someone you know, is struggling with to keep up with their mortgage payments, or is worried about a FUTURE payment… don’t delay, contact a Homeownership Advisor that specializes in foreclosure today!  To learn more, or to contact your local organization, click here.

Posted on: Tuesday, April 15th, 2014

Preforeclosure Infographic

On Wednesday January 29th, the Minnesota Homeownership Center released its 2013 year-end data on the aggregate number of Pre-Foreclosure Notices received by foreclosure prevention specialists in the Homeownership Advisors Network.  The number of pre-foreclosure notices issued continue to show improvement in Minnesota’s housing market.

The Center has produced an infographic to help visualize the data on pre-foreclosure notices:

 

PreforeclosureNotice_InfoGraphic_YE2013

 

For a PDF version of this graphic, click here.

Posted on: Wednesday, January 29th, 2014