Dallas Home Appraisals News and Information

We have read several articles over the past couple of weeks describing the difficulties homeowners are facing in getting help with their mortgages, especially when it comes to getting a remodification under the not-so-new-anymore government program.

CNNMoney has an interesting article on some of the reasons you might be having trouble getting help with your mortgage.  At the top of the list, surprisingly, is technology. Click here to read more.

If you are considering a loan remodification under the government program, or considering a refinance that might not have been possible a few months ago, please contact us.  Although interest rates are higher than they were in the spring, they remain at historic lows and if your current rate is over 6% now might be the time to refinance.  Several factors will play into your decision and your eligibility, including your current FICO score and the current market value of your home.  In some areas of North Texas summer sales and foreclosures have led to a decline in values. But in many areas summer sales have actually rebounded, and values are up over where they might have been last time you checked.

At Blue Star Appraisals Inc. we can help you research market values in your neighborhood and/or refer you to a broker who can help you determine if now is the right time for a refi.  Remember, the rules have changed regarding how an appraisal can be ordered if your loan will end up with Fannie Mae or Freddie Mac, so we will not let you order an appraisal directly from us if it looks like you won't be able to use it for your loan.  Contact us today if you think a refi might be right for you but you aren't sure how to get started.  We look forward to hearing from you!