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Mortgage Lenders
For Information on Qualifying for Your Next Home Purchase, Contact Mark Sicora at Bell Mortgage Email: msicora@bellbanks.com or Phone: 612-750-5508
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Testimonial
"Many thanks to you and your team. You, Cindy and Tiffini were great to work with. As I have always known, but sometimes forget, it always pays to go with the best, and you and your team are THE BEST. Thanks again."
-Gary & Laurel P~
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Welcome!
Although it's always a little sad to see summer pass us by, fall feels warm and welcoming. As we start to sense a chill in the air and the kids head back to school, it's a time to reschedule and bring order to our lives.
The start of the fall season typically brings many changes, and it's a great time to consider buying or selling a home. The market is only getting better, and we are always here to assist you with any of your housing needs. Please feel free to contact us at your convenience.
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Borrowers with bad credit can now buy sooner with FHA
 By Ilyce Glink
MoneyWatch) For those hoping to buy a home again after a short sale or foreclosure, the wait may be over.
The Federal Housing Authority has announced it is shortening the mandatory waiting periods for homeowners with a black mark on their credit, such as a short sale, deed-in-lieu, foreclosure or even bankruptcy, to buy again through an FHA loan.
Instead of waiting the mandatory three years before qualifying for a new loan, buyers must prove, over the period of a year, that they are back on track financially.
The new deal is part of the FHA's Back to Work - Extenuating Circumstances Program, which allows borrowers who lost their homes due to financial hardships to be eligible for an FHA mortgage much sooner than before.
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11952 Welters Way · EDNP, MN
 Amazing cul de sac lot nearly 2 acres features outdoor heated pool, expansive lawn, new fire pit & total privacy! Interior walls freshly painted '13. Updated gourmet kit w/high end appl, wet bar, brkfst rm. Vltd ceilings. Upper bonus rm, fabulous W/O LL!
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Foreclosure and Short Sales at Lowest Level Since 2007
 Minneapolis, Minnesota (September 12, 2013) -Twin Cities home buyers were unflustered by slightly higher interest rates in August as pending sales were up 10.9 percent to 5,244. Along with rising prices, increased sales activity is fueling housing demand, while buyers continue to watch inventory levels for more options. New listings rose 16.5 percent to 6,951, marking the fifth consecutive year-over-year increase in seller activity. Buyers have 15,773 properties from which to choose - 9.9 percent fewer than August 2012 but 21.2 percent more than in January 2013.
The overall median sales price was $208,000, up 16.9 percent compared to August 2012. A shift in sales type is driving this price growth. At this time last year, foreclosures and short sales together comprised 35.8 percent of all sales activity. In August 2013, these two distressed segments made up just 20.7 percent of all sales. On the seller side, the percentage of all new listings that were distressed in August fell to 17.8 percent, down from 32.7 percent in 2012.
"Foreclosure activity and home prices are inversely related," said Andy Fazendin, President of the Minneapolis Area Association of REALTORS® (MAAR). "As distressed activity has subsided, prices have rallied. Sparseinventory has exacerbated this dynamic."
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