Roll Tide Roll! Today is the Day! - 11/29/08 08:53 AM
Talk about great rivals, Alabama and Auburn!  This is THE SEC game of the year.  This year the Alabama Crimson Tide has seen success on the football field we have not experienced in years.  Coach Nick Saban has led the Tide to victories in every game which has been amazing but...the Alabama/Auburn game is the defining moment of our entire year!  Folks in the great state of Alabama are gearing up for a day of football and only one will be happy at the end of the great game.  This year Alabama may earn the bragging rights!  We are going to … (12 comments)

Black Friday - 11/27/08 09:41 PM
  I have always shopped Black Friday but the past few years there have not really been many great deals.  This year it looks like we may get a little more bang for our money.  I know there are many nervous people in the retail industry and we can certainly sympathize with them.  The Lord knows we have had the corner on "nervous" markets.
My mother, daughter and myself are heading out at 4 am to try and capture those doorbuster sales.  This year every dollar saved is very important.  We will enjoy this time together and hopefully find a few great gifts and help the retail numbers.  … (15 comments)

God Still Performs Miracles and I Have One To Share! - 11/26/08 11:32 PM
I have a very special Uncle.  He was diagnosed last year with melanoma.  It was already in his lymph nodes.  Doctors immediately put him on agressive chemo and then they found it had spread to his brain.  He was so so sick.  The doctor performed brain surgery on him to remove the tumor and ease his pain and mind games.  We were expecting a couple months at best.  When he had his next PET scan about 2 months later another tumor was on the other side of his brain. 
We prayed for his healing and today he is cancer free and … (9 comments)

Mortgage Bonds Received a Leg-Up, Rates are Falling In Response - 11/25/08 02:33 PM
What we have all been waiting on!!! 
The FED has announced it would purchase $600 billion of Mortgage Back Securities from Fannie Mae, Freddie Mac and Ginnie Mae.  This is an act of brilliance by the Federal Reserve and should increase credit availability and lower fixed mortgage rates.  Today, already we have seen rates drop.  Get your buyers off the fence and don't miss this opportunity.  I believe we are also about to be in a refinance boom.  What can I do to help you?
… (1 comments)

Living in Helena AL - Helena takes great pride in it's Parks! - 11/24/08 12:25 PM
You must see Helena, you will fall in love.  For financing call me, together with Debbie we will get you closed before Christmas so you can enjoy this special occasion in style!
Via Debbie Hutchins - REALTOR - GRI,CRS,ABR,CSP :
 

  
HELENA, ALABAMA IS A GREAT PLACE TO LIVE, WORK AND PLAY!
You will enjoy shopping and dining in OLD TOWN HELENA where the historical town has been preserved into a quaint shopping village with restaurants and specialty shops.
The OUTDOOR AMPHITHEATER  is a place for concerts, festivals, movies, weddings and special events.  Some of the annual events held here … (0 comments)

Ruby Apple Congealed Salad, Brings The House Down - 11/24/08 10:14 AM
Are you ever pondering over which congealed salad you should prepare for the holidays?  The one dish that compliments everything on the table and everybody wants to know, "Who brought the salad?".  This one will surely become a must have for years to come.  This is an old recipe and one that is tried and true.
Ruby Apple Salad
1 package (3 ounces) cherry flavored gelatin
3 apples finely chopped
2 Tablespoons Red-Hot Candies
1 3/4 cups boiling water
2 cups chopped finely chopped celery
1/2 cup chopped walnuts
In bowl, stir gelatin and candies in boiling water until dissolved.  Chill … (3 comments)

First Time Homebuyers - Did You Know.......? - 11/21/08 09:17 PM

Via Debbie Hutchins - REALTOR - GRI,CRS,ABR,CSP :
First Time Homebuyers need to get some paper and a pen and take notes!
There is a great opportunity for you that is being offered by the government called a
FIRST TIME HOMEBUYERS TAX CREDIT!
This is part of the Housing and Economic Recovery Act of 2008
Some of the Basics are:
$7,500 tax credit for first time homebuyers First time homebuyers are defined as anyone who hasn't owned a home in the preceding 3 years There are income limitations to qualifying Tax credit is available for anyone who purchases a home between April … (1 comments)

Someone Dropped The Ball... - 11/21/08 09:10 PM
My week was great, I closed three mortgages and then today...somebody dropped the ball.  There are many people in a transaction and each person has a specific role to play.  From the time the first ink is on the paper until funding, the chain cannot break.
Whether chosen by the realtor or myself, THE CLIENT, is counting on us to look out for their best interests.  It is not about the partners we like the most, our friends or even the amount of money given to sponsor an open house.  It is about SERVICE.  When an agent choses someone in the … (0 comments)

Can You Keep A Secret? I Can't! - 11/20/08 09:19 PM
WISTERIA, SHELBY COUNTY'S BEST KEPT SECRET 
Valerie Springer, Benchmark Mortgage Preferred Lender for Wisteria
The homes of Wisteria are built exclusively by Wisteria Development Company, LLC and A.J. & Sons Construction, LLC - companies committed to designing communities and neighborhoods that stand the test of time. Wisteria is privileged to have the Builder / Developer Team, Roger Massey and Jason Picklesimer. Their combined reputation, experience and talent ensures high quality craftsmanship and attention to detail. This standard ensures that the vision of a delightful, spirited and beautiful community, complete with charm, is realized. Convenient to all, Wisteria provides easy access to … (2 comments)

THERE IS STILL MONEY TO LEND - 11/19/08 08:52 PM
I was talking with a realtor in my area earlier.  She had spoken with a few other prominent realtors and builders and they had all encountered people that thought there was no money to lend.  One of the realtors children even thought they could not be approved for a loan and had mentioned renting for at least a year til there was some money.
I have closed three loans this week and let me assure you THERE IS MONEY TO LEND!  If you have a stable job, 3% downpayment and decent credit you should be approved for a home purchase.  Spread the … (4 comments)

$7500 Tax credit - 11/18/08 10:07 PM
First time homebuyers still have the $7500 tax credit available in 2009, when they file their income taxes if they close before December 31.  This credit is interest free and paid back over 15 years.  If your client usually gets back $500 they would get back $8000.
There are other specifics that I would be glad to explain, but I think we should focus on getting the word out to the public quickly.  If you've never owned a home before and are pretty certain you will buy, buy now and reap the harvest!  What do you think?
… (11 comments)

Appraisal May Be The Question? - 11/16/08 10:01 PM
Friday evening about midnight, I was watching the news as all of the World Leaders were arriving at the White House to meet and discuss what global changes could help our sinking economy.  I was thinking of the conversations I had during the week.
Many believe for the next 18 months we will have a refinance boom.  Liquidity is pumped into the economy, credit guidelines would be less picky and we would slowly begin to recover.  But...what about the appraisal? 
Appraisals are based on the last 90 days in most cases today.  The money will be there for the loan, the … (7 comments)

Fireproof...A lesson learned & A Praise of Thanksgiving! - 11/16/08 08:42 PM
Today has been simply lovely!  We started the morning off with church, went to lunch with the family and some friends and then decided to go see the movie Fireproof.  I have been married 27 years to a wonderful man that has never failed to let anyone know that I was the love of his life and it started in high school...It has been a fairy tale dream come true.
So what could we take from this movie?  Whether you believe one day you will marry, a newlywed, or a seasoned spouse, Fireproof is a great movie.  Men and women are … (6 comments)

Information for the Self-employed or Commissioned Borrower - 11/13/08 01:52 PM
Today was a sad day for a purchaser, realtor and myself.  I had to decline a great loan because of the adjusted gross income.  A few months ago investors would have been happy to loan money with these credit scores and years of self-employment.  Today, that just doesn't happen.  Here are the details for S/E or Commissioned buyers documentation requirements.
Last 2 years tax returns all schedules, income is figured by averaging the last 2 years adjusted gross income.
If you have rental income you must show it on your taxes to prove you are receiving. (You can do an amended return … (8 comments)

Reports to Move the Market This Week - 11/09/08 07:35 PM
There are five reports coming out this week that could move mortgage rates.  Three will have a moderate  and two will have a high impact on rates.
The first two due out on November 13 will have be the ones to have a moderate impact on rates.  They are Balance of Trade and Jobless Claims (Initial).
The second two will be out November 14 and will have a high impact on rates.  They are Retail Sales and Retail Sales ex-Auto.  Also on this date will be Consumer Sentiment Index (UofM) which will also have a moderate impact.
The first three days of … (2 comments)

REFLECTING ON FORREST GUMP!?! - 11/08/08 09:32 AM
Forrest Gump was not an Einstein...What would he do if he were a realtor or loan officer in today's market?  Sometimes I think we are all to eager to show our knowledge and impress people with our certifications, titles  and accomplishments.  Of course we need to do our part to be educated and know our jobs but certification's don't count for much if our hearts and motives are not simple.
I believe that most people would rather work with someone that is not so focused on themselves and their accomplishments but rather the client.  I try to explain the process of … (4 comments)

How Do These Changes Affect Mortgage Interest Rates? - 11/07/08 09:54 AM
With the news of the lost jobs, the FED would normally cut interest rates to help boost our economy, but with a FED funds rate at 1%, where is the room to cut again and what impact will this have on interest rates?
We were expecting a loss of jobs to be around 200k but the numbers were far worse coming in at 240k which was massive.  A total of 1.18 million jobs have been lost and 651k of those were in the last 3 months.  This news should put selling pressure on stocks and cause the bond market to move … (3 comments)

Foreclosures--Seems the banks don't want to sell them????? - 11/06/08 09:12 PM
Can anyone give me some insight on why the banks take so long in responding to a contract when they have an approved buyer and a full price offer?  One of my realtors has been waiting for 2 weeks for a response on my clients contract.  She calls everyday to check for an update and the only information she gets is someone will let her know as soon as possible.  Rates have dropped and I would love to lock them in but still waiting for word.   What's up???
… (7 comments)

Will You Be Able To Land With One Wing & A Prayer - 11/06/08 03:35 PM
This morning I received a video clip from a realtor.  There was an airplane gliding all over the sky and soaring higher and higher until finally one of the wings fell off.  Everyone on the ground was devastated believing they were about to see the most horrific accident one might witness. 
The plane was swaying back and forth and started its descent to ground.  Miraculously the pilot was able to glide the plane in for a safe landing after finally getting control of what was left.  It was an amazing video.  The question was...will you be able to do this with … (5 comments)

Self-Employed and Commission Borrowers Loan Documentation - 11/04/08 01:43 PM
I was just notified that Fannie will no longer be offering stated programs or no documentation when the new 7.1 version rolls out.  Freddie discontinued these type programs about a week ago.  If you are a self-employed or commissioned borrower, you will be required to submit the last years tax return for proof of income. 
Be aware, underwriters are looking at bottom line so if you write everthing off, your bottom line number may not be enough to get you approval on a purchase or refinance loan.  We knew this would be coming sooner or later.  The days of wine and roses … (4 comments)

Voting This Year Was Different - 11/04/08 10:00 AM
I voted on my way into the office this year.  There were so many folks in line to make their voice heard.  It was different this year.  There was a sense of quietness as folks had their missions on their mind.  Not a lot of chatter in the line and everything was very formal once we were inside the polling place.  The folks working were the ones we see every time we vote but there was no banter.
We need to be prayer throughout the day today for our Nation and the elected officials.  No matter who wins the election, the … (0 comments)

Squatter's Rights--Is It True? - 11/03/08 08:29 PM
I was told today if someone moved into a property that was vacant, the tenant would have squatter's rights and it could take months to get these people evicted?   If someone moves into a home, sets up housekeeping and uses a home as their permanent residence without the permission of the owner, is this not breaking and entering???  Shouldn't they be arrested?
Can some please explain how this can happen and does the owner of the property not have any rights? 
… (33 comments)

ISM High Impact on Mortgage Rates - 11/03/08 01:21 PM
Today the ISM index was posted at 39.8% and was the lowest since September 1982!  It was estimated we would be around 42 which is far worse than expected.  The ISM is based on a survey of purchasing executives of industrial companies.  Around 300 are surveyed.  This signals expansion when numbers are above 50 and contraction when below 50.  Maybe we will see some reduction in interest rates due to more money going into the mortgage bond market.  This index is always released the first business day of the month and has a high impact on mortgage bonds. 
The next report … (0 comments)

First Baptist Church Alabaster - 11/03/08 10:40 AM
Today the First Baptist Church of Alabaster is open for prayer at the alter all day today.  We are encouraged to pray for our Nation and leaders.  If you would like a place of quiet and solitude you are welcome to stop by.
… (0 comments)

In God We Trust - 11/03/08 10:36 AM
For those of you preparing to vote tomorrow, there is only one day left to make your decision.  Yesterday in our church service our pastor spoke about the teachings of the Bible and encouraged us not to vote Democrat or Republican but to vote for the candidates that a belief system closest to ours. 
Today is a day of prayer for our Country, the leaders and the lawmakers.  We need to  seek guidance on who we will cast in our final ballot.  I am prayerful today and hope everyone will listen to that still small voice and vote.  IN GOD WE TRUST
… (0 comments)

Differences in Cash-Out & Rate and Term Refinances - 11/02/08 09:15 PM
A RATE AND TERM REFINANCE is a transaction where you are either reducing the rate, the term or combining a first and second mortgage that were both taken at the time of purchase.  The closing costs can be rolled into the loan if your home has enough equity.  If you are planning on living in your home at least 2 more years and you have two mortgages, now would be the perfect time to combine them.  Your rate would be the same as a purchase, depending on your credit scores, debt ratio and loan to value of your home.  With rate and term you … (0 comments)

 
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Valerie Springer, Home Loan Officer AL FHA, VA, Conventional and Reverse Mortga

Birmingham, AL

More about me…

Network Funding Residential Mortgage NMLS 2297

Address: 248 Inverness Center Drive, Birmingham, AL, 35242

Office Phone: (205) 995-7283 x 305

Cell Phone: (205) 746-1284

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