We created a Facebook group called DFW Cares, a place where the community can come together and help each other out; we’re helping facilitate interactions by pairing people’s needs with others capabilities and resources.
If you are a homeowner, you should know that interest rates are falling back down because the government announced they’ll be buying up as many mortgage-backed securities as they can to help keep this economy going.
“If you’re a homeowner who just wants to test the market, now is not the time for that.”
Recently, rates have been on a rollercoaster; at one minute, you could be quoted for 3.5% and 5% the next. No one was really sure where they would end up. Thankfully, we’ll start seeing that unpredictability ease as rates fall back down. In fact, our trusted lender Michael DeBacker with USA Mortgage told me to pass on this message: If you have not refinanced and want to still, now is a fantastic time to do so. For more information, reach out to him through his website.
Also, if you really need to sell, reach out to us. We’re still seeing contracts come out on our listings. Dallas County has, as of March 23, issued a ‘stay-in-place,’ ordinance effective until April 3. That means non-essential businesses have shut down. If you’re a homeowner who just wants to test the market, now is not the time for that; ours is a market for those who have an unequivocal need to sell.
On the buying side, rates have fallen, so if you really need to get into a home, reach out to us. We’ve set up guidelines for disinfecting spaces and eliminating unnecessary risks.
If you’ve lost your job and are starting to fall behind on any of your monthly obligations, contact your servicing lenders and explore your forbearance options. In a lot of cases, people can get up to three months’ worth of forbearance on their auto loans—anything to help ensure you can still get your necessity items first. Also reach out to your mortgage lender. The government has mandated that lenders cannot foreclose at this moment.
Please let us know if there’s anything we can do to help you—real estate or otherwise. Now’s the time to rally together. Again, post community needs in our Facebook group, call us with questions, and stay safe. We look forward to hearing from you, and we hope all is well.
