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Home Gaye Granice, Associate Broker

Gaye Granice, Associate Broker

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Short Sale Can Save You the Pain of Foreclosure

01-21-12
Gaye Granice, Associate Broker

Are you unable to make your mortgage payment? Are you in over your head and don't know

which way to turn. Don't get overwhelmed by an unmanageable mortgage payment. I can

help you to get your home sold before its too late and you are facing the uneasiness of

foreclosure. At Appleseed Homes we are well-trained to help you get a quick sale and move

on with your life, free of the burdens of a home you really can't afford. You will receive

professional advice and help, we are equipped to deal with the banks and get the job done for

you.

If you are interested in a private and confidential meeting, you can call me, Gaye Granice

Associate Broker at Appleseed Homes, at 917-575-0583. You are under no obligation.

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SPRING IS COMING - HOME MAINTENANCE FOR THE SPRING

02-17-11
Gaye Granice, Associate Broker

Spring is just around the corner. As a homeowner, there are certain maintenance we should do at different times of the year. Take a look at these helpful hints to keep your home in tiptop shape:

OUTSIDE THE HOUSE

>Remove storm windows.

>Install window screens

>Recheck caulking and windows.

>Inspect porches, steps and patio for

surface cracks, peeling and paint rot.

>Clean out gutters.

>Check flashing around chimney, dormers

and vents.

>Inspect roof.

>Air out the basement.

INSIDE THE HOUSE

>Shut off humidifier, clean and drain.

>Inspect air conditioner system. Call for repair if necessary.

THESE TIPS WILL HELP YOU HAVE YOUR HOME READY FOR THE LAZY DAYS OF SUMMER.

IF YOU ARE THINKING OF SELLING YOUR HOME AND WOULD LIKE A FREE MARKET ANALYSIS, CALL ME.

YOU ARE UNDER NO OBLIGATION, AND I WOULD BE HAPPY TO TAKE THE TIME TO GIVE YOU THIS SERVICE.

GAYE GRANICE, ASSOCIATE BROKER

APPLESEED HOMES, CELL # 917-575-0583

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New York Courts Supplying Homeowners Facing Foreclosures With Lawyers

02-16-11
Gaye Granice, Associate Broker

New York is the first state to suppy homeowners facing foreclosures legal aid. Criminal defendents are guaranteed legal assistance, but New York will be the first state to extend that pledge to foreclosures. Right now there are about 80,000 active foreclosure cases in the New York courts, and in more than half of them only the banks have lawyers. This is an uneven scenario. Banks wind up with the property and the homeowner winds up on the street. It is not in anyone's best interest, including the banks.

Within the next few weeks, the procedures will be put in place in Queens and Orange Counties and across the state by the end of the year. Any homeowner in foreclosure, who does not have a lawyer will be supplied one by legal aid groups or other pro bono groups. This will make the proceedings more efficient.

Several major banks have been cited as using improper methods to speed foreclosure. Homeowners can sharply delay the proceedings by simply responding to a foreclosure notice in court. This is a change from when the foreclosure crisis began a few years ago. Most homeowners would not show up at court proceedings and would simply abandon their homes. Inevitably, the lenders would be the winners. Now, New York mandates settlement meetings overseen by a judge and and attended by the lender. Homeowners are participating but those without lawyers are not equiped to defend themselves.

This will be a great asset to homeowners facing foreclosures because attorneys can take more of an early intervention in the case, helping with the accuracy of the documents and significantly slowing the pace of the foreclosure. Homeowners, dealing with the necessities of life, now will get a fair day in court.

If you have a home to sell, and would like a current market analysis, with no obligation, you can call me at

917-575-0583

Gaye Granice, Associate Broker

Appleseed Homes

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SUPERBOWL SUNDAY - ENJOY THE GAME!!!!

02-05-11
Gaye Granice, Associate Broker

Tomorrow is Superbowl Sunday and everyone is excited to kick back and enjoy the game. Whether you are at a party, or in the comfort of your own home hope your team wins. I am happy to be going to a fun party with lots of good food and drinks and most importantly, great people. I have my numbers, and my team and am ready to enjoy the game. There's only one problem - I don't understand the game. Oh well, there will be plenty of coaches there. HAVE A FUN NIGHT!!!

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7 Mortgage Trends for 2011

02-01-11
Gaye Granice, Associate Broker




Financial experts suggest that borrowers should apply for a new mortgage loan, or refinance their home loan when the time is right for their individual needs, rather than attempt to time the market. While risk takers may be enthusiastic about waiting until the last minute to lock in a low mortgage interest rate, most homeowners and homebuyers prefer to observe general mortgage market trends and focus more intently on their own finances.
Predicting a specific mortgage rate for a particular time is pretty nearly impossible, but real estate market observers have identified a few trends that they anticipate will impact the mortgage market in 2011: 1. Mortgage rates will slowly rise throughout the year The Mortgage Bankers Association (MBA) anticipates that rates will rise slightly in 2011, hovering around 5 percent and increasing to about 6 percent in 2012. Holden Lewis of Bankrate wrote this past fall that economists had predicted a rise in mortgage rates by the third quarter of 2010. At the end of 2010, mortgage rates began to climb out of the 4 percent range and slightly above 5 percent. While any increase in mortgage rates is unwelcome to homeowners who want to refinance or to buyers, a 5 percent mortgage rate is still historically in the low range of interest rates. 2. Overall demand for mortgages will decrease The MBA predicts that total mortgage originations for 2011 will decline to less than $1 trillion, driven by subdued economic growth and a lack of consumer confidence. 3. Mortgage refinancing applications will drop Mortgage refinancing has represented a large portion of all mortgage applications in any given week this year, with the refinancing applications accounting for about 80 percent of all mortgages written this year. The MBA predicts that refinancing activity will drop below 40 percent of mortgages in 2011 and decline further to 26 percent of mortgages in 2012. Not only will rising mortgage rates reduce the demand for refinancing, but the pool of qualified homeowners will shrink. Homeowners who could qualify are likely to have done so in 2010, and others have difficulty obtaining a loan approval because of reduced equity or credit or income challenges. 4. Mortgage applications for a home purchase will become a greater part of the market The MBA predicts that stabilizing home prices and modest increases in home sales will increase the number of applications for a mortgage for a home purchase.
5. Jumbo loan mortgages will be more attractive In 2009 and earlier in 2010, mortgage rates for jumbo loans (loans over $417,000 in most housing markets and above $729,750 in high-cost housing markets) were far higher than mortgage rates for conforming loans. The higher rates prevented homeowners from refinancing and kept some purchasers out of the market for more expensive homes. In the Q4 of 2010, mortgage rates on jumbo loans decreased, which will likely spur refinancing applications and purchase applications for the high-end housing market.
6. All-cash purchases will become a larger part of the market Lawrence Yun, chief economist of the National Association of Realtors, says that all-cash purchases represented about a quarter of all existing home purchases in the last four months of 2010. He anticipates all-cash purchases to continue to represent a significant portion of the market in 2011. 7. The mortgage loan process will remain slow and complex Holden Lewis at Bankrate says even if the number of loan applications drops, lenders anticipate that the time between application and closing will continue to take as much as 60 days. In fact, many lenders recommend a loan lock of 60, 75 or even 90 days to ensure that the loan process will be complete within the lock period. One issue is simply the new level of documentation and verification that is required for a loan approval. Another issue that slows refinancing applications is the existence of a second mortgage or a home equity line of credit, which must be re-subordinated to the first loan when refinancing. Getting a lender to agree to keep the home equity loan in the second position can be time-consuming. The bottom line While these general mortgage trends may impact the real estate market overall, each homeowner or buyer considering applying for a mortgage should meet with a lender to determine the cost and availability of a loan that meets his or her needs.
By Michele Lerner
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