Blogging the truth about mortgages

Do you really want to send that picture?

Ann Guy (NA) — Mon, 28 Jan 2008 21:06:28 -0600

It's Sunday morning and I am sitting here in my kitchen enjoying my pancake breakfast and coffee. I pulled out my laptop to look up a recipe for dinner tonight. We all have to admit, the world wide web is a wonderful tool with wealth of information. After all, you can find just about anything you want if you look hard enough, such as how to combine steak and pineapple to make a meal. You can even google my name and find me at the top.

After I found what I was looking for, I decided to go on the website for my local paper, The Morning Call®, and check out the news. Front page is an article featured, The Naked Truth: No privacy online. At a local high school, it seems that pictures were circulated of minors in, shall we say, compromising positions of a sexual nature.

When I first read about it. my reaction was "wow, imagine having to go home and have that discussions with your parents". Then, in true "Ann Fashion" I took it a step further; How would I react if that were my child?

I would be mad. Not at the fact that it happened. I would be angered at the fact that my child let it happen. Seriously, how stupid can you be?

Let's face it, we have all done things in our life that was a bad judgment call. But what do you expect when you allow someone to take risqué pictures of you, and then let that person maintain possession of the said risqué pictures. What makes you think that they will not end up on the internet? Worse yet, why would you send pictures you took yourself?

I can honestly say that I have seen pictures of people that I do not know from friends that were laughing about it. I have also seen pictures of people that I do know that were sent to others, as in the case at the local high school. These things get around faster then ‘whisper down the lane'. And it can be a lot more embarrassing.

So, if you so choose to take pictures that is your prerogative. Keep in mind, there is a strong chance that it will not be for the intended's eyes only. So be careful what you send and post, you parents and your children may see it.

Sand and Stone

Ann Guy (NA) — Sat, 24 Nov 2007 09:33:32 -0600

Two friends we walking through the desert. During some point, they had an argument; and one friend slapped the other in the face.

The one who got slapped was hurt, but without saying anything , wrote in the sand: "Today my best friend slapped me in the face."

They kept on walking, until they found an oasis, where they decided to take a bath. The one who had been slapped got stuck in the mire. But the friend saved him.

After he recovered from the near drowning, he wrote in stone: "Today my best friend saved my life."

The friend who had slapped and saved his best friend asked him "After I hurt you, you wrotewrote in the sand and now you wrote on a stone. Why?"

The friend replied: "When someone hurts us we should write it down in the sand, where winds of forgivness can erase it away. But, when someone does something good for us, we must engrave it in stone where no wind can erase it."

HalloWeekends at Dorney Park

Ann Guy (NA) — Mon, 22 Oct 2007 15:59:20 -0500

Dorney Park, located in Allentown, PA can help you celebrate the Halloween season with their HalloWeekends.

The park is decorated for the season. There are hay bales, pumpkins, tombstones and cob webs around every corner. You can also occasionally catch a glimpse of a ghoul walking around. (Since all ghouls are employees of the park, they ask that you not wear mask or costumes.)

You can visit two haunted houses or go to the fright zone. I was able to enjoy the haunted train ride with Talisesen, who thoroughly enjoyed Trick-or-Treat Street. He left with a bag full of candy.

Because Wild Water Kingdom attractions are closed fr the season, admissions prices are discounted. Adult regular admission for a full day pass is $29.95. Starlight admission is $18.50. A price that is well worth it.

If you are like me and love this season, hurry to Dorney Park. There is only one HalloWeekend left to ride you favorite ride.

Everything has a price

Ann Guy (NA) — Wed, 17 Oct 2007 16:13:14 -0500

I have traveled the turnpike countless times. Last week, I actually took notice to the Stop Pay Toll sign. Mainly because there is no EZ Pass express lane at the Lehigh Valley exit off the Pennsylvania Turnpike.

At that moment, I thought to myself, everything has a price, even a day trip to see you family. What a great blog topic!

Nothing in life is free. Think about it. We pay for food, gas, cars, bikes, clothes. I personal favorite monetary spending is shoes (just ask Rob Robinson). Heck, even traveling 30 miles on a road cost me $1.50 in tolls.

When you buy a house, there are closing costs. You have to purchase title insurance, pay your transfer tax, pay your mortgage broker, your county recording fees for the deed and mortgage, an underwriting fee, the document preparation fee and please do not forget your notary. (Disclaimer: Closing costs will vary from State to State).

If you are selling your home, there are costs involved. You pay your REALTOR® for their hard work, your transfer tax, your county recording fees to release the mortgage, the document preparation fee and the notary fee.

However, not all things have a monetary cost. Think of your closest friend. That took time to build, trust, tears, laughs, smiles. In essence, effort. How about your family? That not only takes me $3.00 in tolls, it also takes effort. You family may have to love you, but they don't have to like you.

I have yard work that needs to be done before winter. I have all the supplies. However, it is going to cost me quite a bit of time. And we all know how valuable time is. An abundance of spare time is something that most of us lack.

I could go on and on with examples. However, I think you get my point. Nothing is free; everything has a price. This includes my services as a mortgage broker.

I assure you, I am worth every cent.

Readjusting mortgage rates

Ann Guy (NA) — Fri, 12 Oct 2007 15:41:25 -0500

Does the picture to the left describe how you feel? You do not have to feel frustrated. I am a mortgage broker here in the Lehigh Valley and I understand.

Since 1996, I have helped many customers with the refinance their Adjustable Rate Mortgage. Weather you rate is rising .5% or 3%, I am here to tell you that there is still hope. As a matter of fact, on numerous occasions, my customers qualified for a much lower rate then what they were currently paying. Wouldn't you like to see of you can get a lower rate?

First and foremost, you need to speak to a mortgage professional. Please be honest and give you professional all the information that is requested, weather it is verbal or written. As a mortgage broker, I work for you.

The rumors are true, there are many changes currently going on in this industry. However, that is no reason to panic. In my opinion, things are going back to normal.

Have you received you notice that you mortgage is going to adjust? Do you feel as though it's time to look into a fixed rate mortgage? Then call a mortgage professional, some who can help you. If you have questions, do not hesitate to ask them. I will make my recommendation and offer information based on my professional opinion.

**Picture courtsey of www.icanhascheezburger.com

The Great Pocono Pumpkin Featival

Ann Guy (NA) — Mon, 08 Oct 2007 11:32:28 -0500

According to the weather today, Fall is arriving. If you want to welcome the season, I would like to suggest The Great Pocono Pumpkin Festival at Country Junction in Lehighton, PA.

I decided to take the 40 minute drive from the Lehigh Valley this past Saturday and I was not disappointed. The first incentive is thefree parking and free admission. You can shop in the store, enjoy the concession stands, play some games; I left with large stuffed fish, a big ball and a train whistle because my son has good luck at these games.

We also enjoyed Pappy's Petting Zoo and make friends with the goats, alpacas, ducks, peacocks, peahens or even the giant rabbit. We tried to feed them however, it was later in the day and everyone beat us to it so the animals we not interested in our cones.

For $6, you can enter Ghost Town USA. There is a haunted house, a corn maze, a hay maze, The Islands of Adventure, and hayrides. $8 gets you a pass to ride all the amusement rides there, including the Round UP, the ferris wheel, and the big slide.

On the way out, don't forget to stop and buy a pumpkin to take home. They have pumpkins available for purchase from 5 to 50 pounds. All pumpkins are the same price; $3!

The Great Pocono Pumpkin Festival runs from September 29th through October 28th. Hours of operation are Monday through Saturday 11-7 Sundays 11-6.

Advertise as though you are the consumer

Ann Guy (NA) — Tue, 02 Oct 2007 16:01:21 -0500

In this industry, name recognition helps with our business. Well, what I meant to say is that it should help with business. I know I do not want anyone to cringe when the hear Ann Guy.

Recently, I decided to go take a day trip to The Philadelphia Zoo. On the way out, across the street from the parking lot, I spotted this building. The sign on it, in case you cant' see, is an advertisement for Superb Roofing.

The building is vacant. In fact, it looks as though it should be condemned.

When advertising, I think you should put your best foot forward. If I put one of my signs in front of a house, I like to make sure that the house is marketable. Not many people want financing on a house that is, well, boarded up. And not many lenders will finance a property on poor or fair condition.

Now I do not mean a "For Sale" sign. So REALTORs®, please do not take offense. This roofing company is advertising a service. A home improvement service at that. Upon visual inspection, there are no improvements on the property. I am pretty sure I would not call them to replace my roof. Yes, I am being judgemental. I am viewing this as a consumer, not as a mortgage broker.

Now there is a thought, look at your advertising as though you are the consumer.I see so many businesses advertising on the paper place mats in diners. I read it out of boredom while waiting for my food. However, I do not think to take it with me for future information. Nor do I write down the information with my First Choice Equity Group, Inc. pen. In my opinion, I would be wasting my money to pay for this advertising space because I do not value it as a consumer.

On the other hand, I do have an advertisement in my Homeowner's Association newsletter. Why? Because I am more inclined to support my local economy first, my village. I go to my neighbor's bake shop, my neighborhood Tastefully Simple independant sales consulant (yes, I refinanced her mortgage).

I have read many blogs asking for advice on marketing and advertising. I now have a good response, or so I think. See your ad as a consumer, not a salesperson. I bet there are some people who change their outlook.

What kind of an investment is Real Estate?

Ann Guy (NA) — Fri, 28 Sep 2007 15:55:13 -0500

Being a mortgage broker, I have been present at numerous settlements. It is our company policy that we attend our settlements. A policy that I whole-heartley agree with.

My customer currently lives in New Jersey. She has an hour commute to work every day, each way. Therefore she decided to buy someing here in Pennsylvania. She found a home close by in Emmaus.

As usual, the settlement was going rather well, since I pre-closeall my loans. I do not like surprises at the settlement table. In attendance besides me was my customer and her husband (the buyers), both buyer's and seller's REALTORS®, the seller and her 2 sons.

The seller, Anna, is 88 years old. She and her husband built that house and raised their two sons. She has been widowed for several years now and taking care of the house was getting to be too much on her. Until today, the seller had been a resident of her home for 56 years!

The closing agent started to explain the paperwork to Anna for her to sign to complete the transaction. She began to cry. This was very difficult for her because this is her home, her life, the place where she watched her boys grow up.

I glanced at her sons and saw that they, too, had started to tear up. That's when it hit me: What type of investment is a house?

When I think of an investment, I immediately think of money. Many people discuss investing in real estate for profit. I learned today that is an assumption.

Anna had invested her life there. She spoke of how much fun she had throughout the years with her neighbors, she told stories of her boys mischief and laughed. And she began to cry again. After all the papers were signed, she asked my customer, the new owner, to take good care of her home, and gave her well-wished for all the fond memories that she was about to create.

Anna walked away with quite a bit of money. Unfortunately, she was sad because she felt like she lost her investment.

Blog what you believe

Ann Guy (NA) — Tue, 25 Sep 2007 15:59:43 -0500

Almost a year ago, I wrote a blog on Phone Etiquette. I spoke if my teacher for my communications class, Sister Kathleen Bonawitz. When I elected to take that class, I didn't realize that it would be one of the most useful classes for my life and career. It is when I graduated that I knew I had gained immensely from that class.

Today, I received a contact via Active Rain. To my surprise and amazement, it was Sister Kathleen! Her niece read my blog and forwarded it to her. She gave me a brief update on her whereabouts. She also said she was happy to have added something to my success.

Many times, when I am writing, I write what I truly believe and feel. I never once thought that Sister Kathleen would see my blog. I never actually thought that she would know how much I did indeed learn in her elective classroom. I never thought she would know how I would carry that information throughout my life, and continually use it.

However, thanks to this fantastic forum that I am part of, Sister Kathleen knows. I have not replied yet, I will do that next. I first wanted to share my success story with all of you.

When blogging, write what you feel; write what you believe. You just might receive an email from one of your favorite teachers. I just did.

It takes a village to raise a child

Ann Guy (NA) — Mon, 24 Sep 2007 15:25:18 -0500

This African proverb has been on my mind quite a bit lately.

I must admit, I live in the best neighborhood in the world. For the privacy of the village children, I will not disclosue the exact location. I am part of a community. We have things such as National Night Out,Breakfast with Santa, Easter Egg Hunt, our community yard sale. These are just a few of the activities offered.

Without my neighbors, who have become like family to me, I am not sure where I would be.

I am a single mom to a 2 1/2 year old, Taliesen. He is the apple of my eye to say the least. However, it's not easy. I work, take care of my home, and try to spend as much quality time with my son as possible. Sometimes I feel overwhelmed. Sometimes I worry that Taliesen is not getting enough time and attention from me. And me time? Ha! How could I be so selfish?

I have come to learn that I am not alone. One of my neighbors/dear friends, is also a single mom. She also has the same concerns I do, x 2. This spring, she and I have really bonded along with a few of our other neighbors.

We spend time together and help out each other. At least once a week, we have a 'covered dish' type dinner where everyone chips in something. Granted, some days we cheat and order Chinese, but we do it together. And at least once a week someone cooks for all of us.

With two single moms in our 'circle' and three children, things are hectic. Sometimes we do a child swap so we can do something as simple as mop the kitchen floor. As silly as it may sound, sometimes a quick and easy task can take hours.

Being in this industry, I do work some evenings. My neighbors/dear friends are quick to offer their assistance. And one has no children of his own! Talk about an angel.

It definatley does take a village to raise a child. And without my village, I would be lost.

My village is by far the best!

Sow the seeds of change

Ann Guy (NA) — Sun, 23 Sep 2007 20:51:37 -0500

That is the theme this year’s 3^rd Annual Pennsylvania renewable energy & sustainable living festival in Kempton, PA.

Since the weather was supposed to be beautiful all weekend here in the Lehigh Valley, a friend if mine suggested that would be a great excuse to be outdoors and enjoy the fresh air with Taliesen. Along with that, we can learn how to be a little more green.

Throughout the day, there are different workshops discussing energy topics such as solar power, solair power, recycling and building green.

We also got to see some transportation alternatives. Besides the Toyota Hybrid car that you can buy a chance to win, there were several converted cars. Some run electric, some run on vegetable oil. Taliesen was especially interested in the solar powered tractor.

With plenty of food (served on biodegradable plates), activities for children, live entertainment, and information, it was worth the trip to Kempton this weekend.

**picture courtsey of paenergyfest.com

Sow the seeds of change

Ann Guy (NA) — Sun, 23 Sep 2007 20:48:10 -0500

That is the theme this year’s 3^rd Annual Pennsylvania renewable energy & sustainable living festival in Kempton, PA.

Throughout the day, there are different workshops discussing energy topics such as solar power, solair power, recycling and building green.

With plenty of food (served on biodegradable plates), activities for children, live entertainment, and information, it was worth the trip to Kempton this weekend.

**picture courtsey of paenergyfest.com

Negotiations are Back!

Ann Guy (NA) — Thu, 06 Sep 2007 17:02:27 -0500

Two weeks ago, I talked about getting back to normal.

A week ago today, a REALTOR® referred a customer to me so she can take advantage of our September incentive (If you don't know about it, find out how you can save your customer thousands here). Within 24 hours, I had sold the deal, received all the signed RESPA, and collected the supporting documents. Wow, I'm good! (Yes, I am applauding myself.)

My customer found a house and completed an agreement of sale on Monday. In the past few years, when you put an offer in, it had to be the best possible (often over asking price) because seller had an array to choose from. At least that was the trend in the Lehigh Valley.

Not so much anymore. The offer was below asking price. However, that is not what I want to focus on. The sellers counter-offered. My customer countered back. The sellers responded with yet another counter-offer. My customer is going to counter that. This transaction looks like it will have more counters then Chef Gordon Ramsay's kitchen!

Finally, we have some negotiations again. As Merriam-Webster describes it; "to confer with another so as to arrive at the settlement of some matter". After all, isn't that what this industry is all about?

Yet another sign we are going back to normal.

The 155th Annual Great Allentown Fair

Ann Guy (NA) — Wed, 29 Aug 2007 13:10:14 -0500

Yesterday, the 155th Annual Great Allentown Fair opened up with preview day. I could not pass up a chance to take Taliesen.

Located on 51 acres at the Allentown Fairgrounds, on 17th Street between Liberty and Chew, there is plenty to see and do.

Some of the many amusement rides include 3 ferris wheels, the tilt-a-whirl, the zipper, a merry-go-round, swings, a big slide, and the Bear Affair which was Taliesen's favorite. Since my stomach is a little to weak to be spinning in fast circles, he convinced Mariah to take him on. She made sure that they spun around as fast as possible. I am impressed that both Mariah and Taliesen could walk a straight line when the got off.

There are animals to see, including a petting zoo. From now until Labor day, you can see things such as the CrazECrew Stunt Team, culinary contests, Robinson's Paddling Porkers pig racing, as well as strolling attractions.

Not to mention the Grandstand attractions. Last night, we were enjoying the sounds of Hootie and the Blowfish and Counting Crows. During the fair, you too can enjoy the sounds of musicians such as The Bad Boys of Rock, Carrie Underwood, Brad Paisley, Hillary Duff, and American Idols Live. And the Grandstand will close with the J&J Demolition Derby. Tickets are still available.

When you work up your appitate, there is pleany of food thanks to the wide varity of concessions stands.

Music, food, rides, games. There is something for the entire family. No wonder The Great Allentown Fair is 155 years old and going strong.

Ready to go back to normal? I know I am!

Ann Guy (NA) — Fri, 24 Aug 2007 17:50:10 -0500

I am sitting here at the office waiting for a customer and, as usual, I started thinking. More like reminiscing about rates.

I started in this industry right out of college in the mid 90's. Yes, I have been at this for a while now. Back then, I worked for a finance companies (Commercial Credit and The Associates). The mortgage rates I had to offer were double digits for A borrowers. When I started offering mortgages, it was at a fixed rate of 10.99%.

I purchased my first home in 1997. I had to put money down, and I had excellent credit. My interest rate was 7.75% for a 30 year fixed rate. To top it off, I had to pay PMI. There was no other option. It was 20% down, or you paid PMI.

Then rates started coming down. And down. And down. At one point, rates were half of what they were when I started.

This chart shows the 30 year fixed rate for the past 5 years. I know, many may not agree with this. However, interest rates have been ridiculously low! Too low.

Suddenly, everyone wanted to join the industry in some way shape of form. Weather it was a loan officer, REALTOR®, a house flipper, lender...many believed this was a get rich quick job and they wanted to join the fun.

Lenders started giving money to everyone. They had to stay competitive. People no longer needed money down. And you could get up to 6% in seller assist! Suddenly, people didn't have to plan. They didn't have to save. They just went out and purchased. Many of those people are now looking in the face of foreclosure.

I will admit it. I am glad to see rates on the rise. I am glad to see that it is getting harder to impulse buy a house. If you want a house, save your money. Plan. Know your financial status and what you can afford. This is what is 'normal' for buying a house.

The best things in life may be free, but you get what you pay for.

I am ready to go back to normal.

**Chart courtesy of MSNBC**

75 is the magic number, can we do it?

Ann Guy (NA) — Fri, 17 Aug 2007 16:38:29 -0500

It's the weekend, so let's have some fun here. I believe that we are intelligent people so this should be easy, right?

In this picture, there are 75 bands implied. Between all 43,000 + members, we should have this figured out in no time.

Here is my Active Rain Weekend Fun Challenge. How long will it take us to get all 75 listed?

And beware of repeats.....

Let the fun begin! Have a great weekend!

Attention PA REALTORS®

Ann Guy (NA) — Thu, 16 Aug 2007 13:22:13 -0500

At this point, I have been a member of Active Rain for more than a year. I was one of the first 2,500 members and now we have over 43,000 people part of the community. And, as of today, 897 are in PA.

Most of us here became a member to network. Well, now it's time to network.

Here is my proposal.

The owner of my company, Scott Geary, wants to close 100 loans during the month of September. Being a team player, I am going to step up to the plate here. In order to achieve this goal, I am going to 'make an offer you can't refuse' .

I am asking all licensed PA REALTORS® to refer me to your customers. If you are not sure about me, my business practices, etc., take a few moments to read my blog.

I am sure you are now wondering "Why?" That is a legitimate question so let me tell you why. Any REALTOR® referral that I receive and close by the end of September, I will only charge a total of $500. I will use the par wholesale rate(that means no yield spread premium), no processing fee. No joke! There will only be a $500 origination fee, no matter what the loan size is. I will even show you the wholesale rate sheet as of the date the loan is locked and you can compare it to my competition. I assure you, my quality of service will not be affected. I will win your trust.

So, send me you customers. They will thank you for it!

Offer applies to conforming, Fannie Mae qualified applicants.

I look forward to a prosperous September with you!

Karen George's Battle--What AR wants to do

Ann Guy (NA) — Sun, 12 Aug 2007 12:24:11 -0500

Karen George, an excellent blogger on Active Rain, recently shared with us that she is battleing brest cancer, again.

I am glad to see that members of AR are trying to help with contributions, an idea by Sarah Eubanks.

Next time you are out, grab a gift card. You can forward it to the following:

Karen George

C/O Calie Waterhouse

1900 W. Chandler Blvd. #15-282

Chandler, AZ 85224

It is the little things that can make a huge difference in someone's, no everyone's, life.

Celebrating National Night Out

Ann Guy (NA) — Wed, 08 Aug 2007 16:44:03 -0500

August 7th 2007 celebrated the 24th annual National Night Out. which is a night where local neighbors and civil service agencies celebrate their community. This year was a 50's theme, sponsored by my home owner's association with many local businesses in attendance.

There was music hosted by DJ Jimbo with lots of dancing. As you can see, Taliesen is dancing here with a few of the neighborhood girls. I think he is interviewing for a babysitter so mom can go out every once in awhile. He even took part in the Limbo contest. I will have to teach him my technique so maybe next year he will win.

Our local State Police had an officer there with useful information including brochures on helmet laws, dog laws, crime watch and even identity theft prevention. Our local volunteer fire company brought two of their engines to display. They allowed everyone to hop in and take a look around . As you can see, Neighbor Caleb really wanted to take it it for a spin.

We had a special appearance by "Andy the Ambulance". "Andy" is a rather large remote control ambulance that stands about as tall as a toddler. Taliesen was not a fan and stayed clear.

After me free chair massage (which was my personal favorite part of the evening), I enjoyed the live sounds of Tim Marchetto. Tim was a contestant on American Idol and is a finalist in the Star of Bethlehem competition at Musikfest.

And what is a party without food! I was surprised at just how much food was available. We had pizza, compliments of Domino's, cake compliments of Granny Schmidt's Bakery, Rita's Italian Water Ice compliments of Rita's, nachos compliments of a neighborhood REALTOR® Denise Garrity, cotton candy, soft pretzels. There is no reason anyone should have went home hungry.

Lenders are pricing themselves out of the market

Ann Guy (NA) — Wed, 01 Aug 2007 18:49:27 -0500

Yes, ARM's are adjusting. And yes, it is upward. Just what is an ARM anyway? Well, ARMs are not just attached to your shoulders!

It had become painfully obvious that many lenders are getting scared. My guess is foreclosures have drastically increased. This in turn causes losses to go up. That cause profit to go down. Wall Street is not happy when profits go down. Investors get nervous and you suddenly hear the frantic yelling of "Sell, sell, sell" on the floor.

How do I know that lenders are getting scared? Let me take a moment to tell you.

First and foremost, may lenders have discontinued many of their ARM products, such as the 2/28 and 3/37 (please refer to the above link if you are unfamiliar with what they are). That's right, those products are on the endangered species list.

However, there are some lenders that still offer the product. But I get the sneaking suspicion that they do not really want to do 2/28 and 3/27 loans. Why ever would you think that? you ask. Because I have seen them pricing themselves out of the market.

Yesterday, I inputed information to get rate quotes on certain loan scenario. For your reference, there will be allot of equity left , I will be verifying all the income, however the credit is not perfect. Upon entering the information, this particular lender will show you a list of all the qualifying products the offer, as well as the rate.

The fixed rate was in the ballpark of what I suspected. The I saw the rate for the 2/28 and 3/27, which happened to be the same for both. The rate listed was....drum roll please....20.25%! No, that is not a typo. 20.25% Why would anyone take a loan for 20.25% when they could have a fixed rate of less than half of that?

That is exactly why they did it.

ARMs are not just attached to your shoulder

Ann Guy (NA) — Fri, 27 Jul 2007 12:52:37 -0500

I am sure you have heard, it's everywhere in the news. Foreclosure rates are ridiculous. And one of the reasons, according to the media, is ARM's

What is an ARM anyway? Just about everyone knows what a fixed rate loan is. If you have a fixed rate loan, the interest rate will never change for the duration of the term, whether it be 30 years, 15 years, etc.

ARM is an acronym for an Adjustable Rate Mortgage. However, there are different types. If not explained properly, you may not fully understand what it is you are getting yourself into. Did you know that many ARMs have a fixed rate period?

Let me explain. I will use the 2/28 as an example. With this particular loan program, the rate is locked in, or fixed for the first two years of the loan. For the next 28 years remaining on the loan, the rate can adjust either up or down, depending on what the market conditions are at that point in time. There is a cap on the rate, which means it can never go higher then X %, called the ceiling rate. There is also a floor rate, which is the lowest rate the loan will ever have. This is usually the rate that you start out with. Some ARMs 'adjust' once a year, some twice a year. Some rates have a maximum increase of 2%, some 3%. Read your mortgage note for the specifics of your loan.

What if you are looking for a loan now? Which program is better for you? Unfortunately, that can not be answered so easily. Every situation is unique. What is good for you is not necessarily good for me.

Here are some things to consider:

Start with your plan. Is the house your primary residence or an investment property? How long are you planing on owning the house?

How much equity is remaining after the loan? Taking an ARM at 100% of the value of the home is risky. With the current housing market, house are not appreciation like they have been for the last several years.

Are you normally a gambler? What I mean is do you normally take risks, or are you on the conservative side? If your answer is the latter, then I would recommend a fixed rate loan.

Weigh you options carefully. If you have questions, do not hesitate to ask them. I will make my recommendation based on my professional opinion. In the end, remember, I am not going to pay your mortgage payment, you are. Ultimately, the choice is yours.

I need to be a better friend

Ann Guy (NA) — Thu, 26 Jul 2007 13:00:51 -0500

How easy it is to forget. I am a commissioned sales person, as many of us are. I have to generate my own paycheck. That is allot of pressure. I own my own house and have to worry about feeding Taliesen.

So I tell everyone what I do. Everyone I am acquainted with know I do mortgages. I have a myspace account with a screen name Ann, your mortgage professional.

And I thought I knew what all of my friends did for a living. I have one in-particular. I have been friends with Steph for 22 years. I know she went to school for computers. I know that she and her husband, Ray, have had a DJ business, Kwality Soundsz, for at least 10 years now. It's something they enjoy doing together and generate some extra spending money.

I had a meeting the other day with Jayson Boushell. He mentioned that just asking for a referral is not effective. He suggested asked something a little more specific about a situation. For example, Dd you know anyone that...?.

Ok, I'll try anything once.

So, I sent a message to Steph. Something along the lines of "hey, do you know anyone that wants to buy a house?" She quickly responded "The only people I know are the leads I get for new modular homes. Do you construction loans or do you just sell houses? Let me know and I could start sending people that need financing your way."

Hello, McFly! Leads? What leads? I thought she worked with computers! She can send my new construction leads!

Not only did I drop the ball with leads, I do not feel as though I ama very good friend. If I were a better friend to Steph and know what she did...

Well, I can't live on what if's. So from this day forward, I am going to be a better friend!

Have I been phished?

Ann Guy (NA) — Mon, 23 Jul 2007 11:07:20 -0500

Yes, I admit it. Active Rain is an addiction for me. Every time I have access to a computer, I can't help myself, I have to check it.

This morning I finally got the chance to check it out. I always go into Pennsylvania Professionals Group first. I have to see what is happening on the local scene.

I noticed something a little strange. Not the picture here, as stange as it is. There were comments posted by me on Rob Robinson's blogs. That is not too unusual. However, the times that "I" posted the comments. If you know me at all, you know that I am by no means a morning person. And these were posted first thing this morning. I can't think that early; I need some time for my Java Joint beverage to kick in. I went into it to see what "I" posted, but there was nothing there, and no points were awarded. Mayne I didn't pas the human test (insert joke here)

I am starting to think I got phished (which has nothing to do with the band). It happened to me before on myspace. Spammers somehow pull their tricks and get your password. They then use that to post comments for spam. I think they may have found their way to Active Rain. However, I am not sure.

Has anyone else noticed this?

I am going to change my password. I suggest you do the same, if you are leaving comments that you don't recall typing.

Hump Day Quotes

Ann Guy (NA) — Wed, 18 Jul 2007 12:57:32 -0500

I have a collection of quotes that I have seen and I wanted to share. I hope you enjoy, and feel free to use any, or all!

1. "I can see your point, but I still think you're full of @#^*."

2. "I don't know what your problem is, but I'll bet it's hard to pronounce."

3. "How about never? Is never good for you?"

4. "I live in my own world. But that's ok, they know me here."

5. "I'm really easy to get along with once you people learn to see it my way."

6. "I don't work here. I'm a consultant."

7. "It sounds like English, but I can't understand a damn word you're saying." (Jargon)

8. "You are validating my inherent mistrust of strangers."

9. "I'm already visualizing the duct tape over your mouth."

10. "The fact that no one understands you doesn't mean you're an artist."

11. "Any connection between your reality and mine is purely coincidental."

12. "What am I? Flypaper for freaks!?"

13. "It's a thankless job, but I've got a lot of Karma to burn off."

14. "Sarcasm is just one more service we offer."

15. "Errors have been made. Others will be blamed."

16. "A cubicle is just a padded cell without a door."

17. "Can I trade this job for what's behind door #1?"

18. "Too many freaks, not enough circuses."

19. "Nice perfume. Must you marinate in it?"

20. "Oh I get it...like humor...but different!"

Have a great hump day!

Do you go the extra mile(s)?

Ann Guy (NA) — Tue, 10 Jul 2007 15:28:50 -0500

I have a loan that I want to close this month. (Don't we all?)

Some things came up that I need clarification on a refinance I am working. Primarily, a judgement that came up. According to my customer, it has been paid.

As you know, the clock is ticking. The last day to close is Thursday the 26th. They want this to close this month; I want this to close this month; my boss wants this to close this month...ok, you get my drift.

I called my customers. Of course, they have no access to a fax machine, other that having to pay for it. And they seem to be the type to like the 'personal touch'.

With that being the case, I told them that I would come for a visit and pick up their documents that I need. They do not live up the street. They live about an hour and a half away.

I am willing to spend my afternoon going the extra mile(s) for the best possible customer service.