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Financing | From 'Urb to 'Burb Blog

Tuesday, May 5, 2020   /   by Vanessa Saunders

Forbearances creating havoc among some home buyers.

From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
05-05-2020
The Coronavirus outbreak has left many Americans dealing with reduced income or unemployment. In response, the federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (CARES), which in part directs lenders to provide mortgage relief options to affected homeowners. But some lenders are mishandling the program and innocent borrowers are suffering the consequences.
The CARES Act requires lenders to offer borrowers up to 180 days’ forbearance, with the option for borrowers to request an additional 180 days’ forbearance or to stop the forbearance at any time. You can be directly or indirectly affected by the COVID-19 outbreak to qualify for forbearance, and you do not have to be delinquent on your mortgage. You can apply before you’ve missed a payment.
Under the terms of the CARES Act, lenders won’t report forbearance to the credit bureaus. ...

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  hudson valley real estate, hudson valley property, buying a home, hudson valley home owners, hudson valley house, financing, mortgage, credit scores, pandemic, lending

Tuesday, April 28, 2020   /   by Vanessa Saunders

An up-side to being turned upside down.

From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate
April 28, 2020.
As a real estate brokerage in the state of New York, my team of agents and I have been told by Governor Cuomo and the New York State Association of Realtors that we cannot have any face to face interactions with other agents, our clients and our service providers. Since much of traditional real estate has been conducted at a personal level, this has made it difficult, if not impossible to operate as we have in the past. We’ve been turned upside down.
You may be surprised to find out that I think this is a good thing.
Sometimes it takes a shake-up to stimulate change. In the 19 years that I’ve been in real estate, I’ve been talking with people in and out of the industry about digitally transforming the closing process. For a long time it’s been “We’ll do it someday.” Thanks to the quarantine, that day has come.
Remote online notarization ...

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  hudson valley real estate, hudson valley home sellers, mortgage process, financing, mortgage, pandemic, the future of real estate, blockchain, cryptocurrency

Thursday, April 9, 2020   /   by Vanessa Saunders

Hands Free Real Estate? Been there. Doing that!

April 9, 2020
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
We’ve been watching as real estate brokerages up and down the Hudson Valley and across the nation are ramping up their technology to offer virtual real estate transactions. They’re figuring out how to take clients through the entire process of buying and selling real estate as a way of practicing social distancing, especially since the state has designated real estate as “Essential”, yet forbidden us to conduct face to face transactions. Try working that one out!
Pardon me, but here at Global Property Systems, we’ve been conducting virtual real estate transactions for years.
As a real estate brokerage with a focus on international business, we learned very early how to do business without a physical handshake at every stage of the process. All our agents work in home offices located in regions where they are local area experts. Clients can consult with them virtual ...

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  hudson valley real estate, 'urb to 'burb, first time home buyer, financing, mortgage, home inspections, pandemic, new technology, the future of real estate

Friday, March 13, 2020   /   by Vanessa Saunders

An economic stimulus worth considering.

By Vanessa Saunders Founder/CEO Global Property Systems (GPS)


Laura Castelli, Italy’s deputy economy minister, told an Italian radio station Tuesday that individuals and households will temporarily not be required to make mortgage payments, according to BBC. During the global economic crisis in 2010, the country also temporarily halted some loan payments.


Consider how this would benefit our slumping economy. A temporary moratorium on mortgages and rents for homeowners and renters would instantly put cash in the hands of most Americans without the government cutting a single check or mailing out one letter. Americans would have the cash to get our economy up and running as soon as the Coronavirus pandemic abates. 


There’s actually a precedent in the U.S. for Italy’s forbearance program, but here, it’s been more focused on victims of natural disasters like hurricanes and flooding.


So far, the president’s plans for economic stimulat ...

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  hudson valley real estate, hudson valley property, home investment, hudson valley home owners, financing, saving the world

Friday, March 6, 2020   /   by Vanessa Saunders

Now's the time to beat down your lender's door.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems.

Interest rates and stock prices have been bouncing all over the place recently, but yesterday was a shocker. 
What’s going on? We're seeing the effects of the Federal Reserve's interest rate-cutting on 10-year Treasury notes this week. The average rate on a 30-year fixed rate mortgage dropped to 3.29% this week, its lowest level... ever.


What’s going on? We're seeing the effects of the Federal Reserve's interest rate-cutting on 10-year Treasury notes this week.

First, keep in mind that 30-year mortgage rates have no free will. They move in lockstep with 10-year U.S. Treasuries. Treasury yields were already at all-time lows because of concerns the Corona Virus would hit future economic growth. (Investors buy Treasuries when they want to play it safe, and yields move inversely to prices.)

In an emergency move this week, the Fed cut interest rates,sending those Treasury yields even ...

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  hudson valley real estate, hudson valley property, buying a home, home investment, 'urb to 'burb, housing sales, selling your home, housing sales inventory, mortgage rates, financing, first time home buyer, lending, fha

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258

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The data relating to real estate for sale or lease on this web site comes in part from One Key, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the One Key, Inc logo or an abbreviated logo and detailed information about them includes the name of the listing broker.

The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2020 One Key, Inc. All rights reserved.

The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.