Blog

Watch Out for Scams!

Lately, there have been a number of scams that are targeted to businesses who work with other businesses that regularly perform wire transfer payments.

Scams are getting extensive and include attacks on lenders, realtors, borrowers and more, making it easier for hackers to divert the funds to them.

Check out how a scam could happen:

  • A realtor could send an email to a borrower containing important information about details of a loan.
  • A hacker could intercept this email and all its information.
  • A hacker could send a spoof email to the borrower with where to wire cash to an account owned by the hacker.
  • Leading the borrower to follow those instructions.

All borrowers should pay attention to their emails. If you receive an action email about your closing, refer to your lender as soon as possible. Do not send money unless you can confirm where it is going. Verify all your email addresses. If you are suspicious about any emails, it’s important to talk to someone on the phone.

Regency Mortgage knows how important it is to send all of our emails securely. We protect all of our emails that are sent to our borrowers.

Brexit and it’s Impact on Mortgage Interest Rates

BrexitBy now you’ve heard Britain has voted to leave the European Union (EU) and you’ve likely seen what the vote has done to Wall Street, but what about it’s impact on mortgage interest rates?

Greg McBride, Chief Financial Analyst at Bankrate, said rates could sink to record lows in the coming weeks.

 

“If you’re a borrower, don’t wait to lock your rate, as this opportunity may not last long,” McBride said.

They’ve already hit rock bottom this year. In the past month alone, the 30-year fixed-rate mortgage is nearly at a three-year low. Britain’s vote to leave the European Union is expected to drive rates even lower.

This is good news for buyers and sellers. Since the expectation is still that mortgage interest rates will increase by the end of the year, now is a great time to sell your home and trade up, or get out of the rapidly increasing rental market and buy the home of your dreams. For current interest rates contact your Regency Mortgage Planner.

Mark McCauley

Senior Vice President of Sales and Marketing

How to Find the Right Real Estate Agent for You

Whether you’ve decided to sell your home, or buy one, aligning yourself with the right real estate professional can be an important first step.

WorkOnLaptopAlthough you can do a significant amount of research on your own, a real estate agent may know about listings before they are available online and may have additional insight into the property, the market, and the neighborhood.

More importantly, a real estate professional will help you navigate all aspects of a real estate transaction. From targeting the right neighborhoods to pricing, staging, negotiating, financing, inspections, appraisals and more!

How do you begin your search for a real estate agent?

  • Do your homework online. Most real estate professionals have a social media presence, making it easy to get a feel for who they are and what it’s like to work with him or her. Online reviews from past clients offer particularly valuable information. Check out the agent’s current listings online to evaluate their expertise and ability to market effectively.
  • Ask for recommendations from friends and family who have recently used a real estate agent to buy or sell.
  • If you are already working with a mortgage professional to secure financing, ask him or her for a referral to an agent they have worked with and trust.
  • Attend open houses in the neighborhoods you are interested in. Chat with the agents and ask lots of questions.

What questions should you ask a real estate agent?

  • What does the current market look like?
  • What is your advice for competing in a tight market?
  • What neighborhoods do you usually work in?
  • How long have you been in business?
  • How are you going to communicate with me?
  • How will you price the home I’m selling or how will you help me find homes within my price range?
  • When should I put my house on the market?
  • What do you suggest I do to get my home ready to sell?

It’s helpful to have your financing worked out early in your home search in order to target neighborhoods that meet your lifestyle needs as well as your financial guidelines. Contact one of our mortgage planners to help you get started today!