maryland mortgage mama: Committed to Community Service Year Round - 01/02/17 03:17 PM
Committed to Community Service Year Round
 
I love seeing all of the posts about coat drives, food drives and toy drives around the holidays.  Folks are in a giving mood and there is a lot of good done for those less fortunate during November and December.
 
I have a secret for you.
 
 
There are many in need at times other than the holidays, way too many.   There are a lot of great organizations that help people year round, but too often like Old Mother Hubbard, the cupboards are bare.
 
I know that the Real Estate industry as a whole is a very generous … (2 comments)

maryland mortgage mama: Resolutions Versus Intention Setting 2017 - 01/01/17 07:45 PM
Resolutions versus Intention Setting 2017
 
Happy New Year!   
 
 
 
 
 
Like many you may have made New Year's Resolutions. Are you are trying to lose weight, get organized, grow your business, be more kind, spend more time with your family. If so, you are not alone.  According to statisticbrain.com, 45% of American's usually make resolutions.  The sad thing is that just 8% of those folks are successful at it.  
 
Why? 
 
A resolution is a "firm decision to do or not do something".
Many of us start out firm in our decision.  The gym's are packed, donations to organizations like goodwill are high, friends talk of how … (6 comments)

maryland mortgage mama: How do I get rid of student loan debt in Maryland? - 11/17/16 04:47 AM
How do I get rid of student loan debt in Maryland?
 
If you are a first time homebuyer and you have student loan debt, you might be in luck!
 
*You may even qualify if you are a veteran or are buying in a targeted area!)
 
As of 11/17/2016 The Maryland Mortgage Program just announced the opening of the SmartBuy program.  
 
Some of the highlights...Buyer MUST:
Qualify for a mortgage using the Maryland Mortgage Program Conventional 5% down program Purchase a home owned by the Department of Housing and Community Development (the Department) in the state of Maryland.  You can find the properties listed by Cummings … (1 comments)

maryland mortgage mama: Not All Lenders Are Alike - 05/07/16 06:42 AM
I have been in the mortgage business for over 15 years.  My favorite part of this business is the connections that I get to make with my awesome clients and realtor partners. Like you, I have heard HORROR stories of inefficiency, lack of communication and outright lies from folks in the business and consumers. Much of that has gone away over the years with licensing and regulations, but still, not all lenders are alike.   Some lenders will "take your order"- "OH, you want a 10 year loan, here is your rate, would you like fries with that."    These types of lenders … (3 comments)

maryland mortgage mama: So Much More Than Sticks and Bricks! - 04/15/16 12:34 PM
So Much More Than Sticks and Bricks!
Today I had a settlement with Margaret Rome and a wonderful family that proved once again that what we do is so much more than sticks and bricks.
 
It all started when Dad had a medical issue.  Their son realized that it would be difficult for his parents to stay in the home they had lived in for more than 50 years.  He knew that it was going to be important for him to help his parents to find a home that would work better for them.  
Well after 11 PM one night, he started a home search, putting … (5 comments)

maryland mortgage mama: Spring Has SPRUNG in Maryland Real Estate! - 03/10/16 03:46 AM

SPRING HAS SPRUNG IN MARYLAND REAL ESTATE!
We are seeing multiple offers on properties within days,sometimes even HOURS of when a property is listed for sale.  If you are considering a purchase in Maryland it is TIME to get your ducks in a row!
 
Talk to a lender to get qualified for a mortgage BEFORE you start looking at homes!  In the time that it takes a lender to review all of your documentation (which should be done PRIOR to an offer), your dream home may already be off the market!  
Get prepared and get prequalifed.  It is more important than ever … (2 comments)

maryland mortgage mama: FHA Mortgage Insurance - 12/17/15 09:54 PM
FHA Mortgage Insurance
 
FHA has two types of Mortgage Insurance.   This mortgage insurance protects the lender, NOT the borrower, in case of a default (failure to pay) on the mortgage.  
 
TIP:  The insurance that would pay off your mortgage in the case of your death is called Mortgage LIFE Insurance.   In most cases, it is my understanding that a regular life insurance policy would be a better choice for your heirs.  Please check with your financial advisor/insurance provider before making any decisions on this.
 
The first type, Upfront Mortgage Insurance Premium (UFMIP),  FHA UFMIP,  is paid at the time of closing and is … (1 comments)

maryland mortgage mama: 2016 GOAL SETTING SERIES-TIPS TO ACHIEVE GOALS - 12/17/15 02:25 PM
2016 GOAL SETTING SERIES-TIPS TO ACHIEVE GOALS
 
In the first two posts of this series, we have reviewed your income from 2015 and found some things that just might be holding you back from achieviing your 2016 goals.  We determined what impact you want to have on your family and on the world.   Today I am going to share some tips that will help you to achieve your goals.
 
Once you have your goal written down, every decision you make should be measured against your goals. Is it going to take me closer to or farther away from my goal?
 
If it’s going to … (3 comments)

maryland mortgage mama: 2016 GOAL SETTING SERIES-BIG HAIRY SCARY GOAL - 12/17/15 02:22 PM
 2016 GOAL SETTING SERIES-
BIG HAIRY SCARY GOAL
 
Set your goal, a BIG HAIRY SCARY
GOAL and ask your self these questions. 
 
WHAT LIFESTYLE DO I WANT TO LIVE? Dream car?  Dream Home for your family, not just your clients?  Be debt free? 
 
WHAT IMPACT DO I WANT TO MAKE? Help a friend, a family member in need? Donate to a cause?  Start your own charitable giving campaign?
 
WHAT EXPERIENCE DO I WANT TO SHARE?  A trip to Europe?  A cruise?  A mission trip?  Climbing Mount Everest?  Hiking the Appalachian Trail? Bali?
 
WHAT SUPPORT DO I WANT TO GIVE? Do More Charitable works?
 
How many more people can you … (3 comments)

maryland mortgage mama: 2016 GOAL SETTING SERIES-MEASURING SUCCESS - 12/17/15 02:17 PM
2016 GOAL SETTING SERIES-MEASURING SUCCESS
 
When I became a loan officer I determined that my goal was to provide value beyond rates, and mortgage information.  I am happy to provide all of that you need, but this 2016 GOAL Setting Series will be focused on helping you to make more money,  and even to step a little bit out of your comfort zone. 
I am not going to get into how many calls lead to a yes ,that lead to an appointment, that lead to an opportunity, that lead to a sale.  I am here to motivate, encourage and get you excited … (2 comments)

maryland mortgage mama: Should I use an FHA Loan When I Buy A Home? - 10/04/15 01:53 PM
Should I use an FHA Loan When I Buy A Home?
 
It may make sense to use an FHA loan when you buy a home, it really depends on your situation and your goals.
What is FHA?
Federal Housing Administration (FHA) Administered by the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration was formed in 1934 to help consumers with homeownership.
The FHA is not a mortgage lender. It's a mortgage insurer. And, like other insurers, the FHA collects regular payments known as mortgage insurance premiums which fund the claims it pays to lenders.
(NEW Guidelines 4000.1 Effective 9/14/2015)  There were 66 changes … (2 comments)

maryland mortgage mama: Ending Gun Violence In 2016 - 10/04/15 01:17 PM
Ending Gun Violence In 2016
 
The gun violence continues in the United States.  
 
When tragedy strikes in a big way, with multiple deaths by one or a few shooters, all the politicians come out.  The pundits are up in arms, it's all over the news and the talk of the day around the water cooler.
So sad, those poor people.
See, we need better gun control.
It's not guns that kill, it's people that kill people. The guns are not the problem.
THOSE people, THEY are the problem.
How was it that nobody knew?
 
Everyone has something to say, but there is not enough ACTION.
 
Something has to be … (6 comments)

maryland mortgage mama: BUYING INCENTIVES FOR BALTIMORE CITY 2015 GRAND SLAM - 09/09/15 05:08 AM
WOW!!! CHECK OUT THIS BALTIMORE CITY (Not Just for) FIRST TIME BUYER GRANTS! GRAND SLAM BALTIMORE!
 
The newest incentive for Baltimore City Home Buyers-Not Just For FIRST TIME BUYERs!  ACT FAST, LIMITED FUNDS, SHOULD HAVE HOMEBUYER EDUCATION IN PLACE TO QUALIFY.
From the MMP directive:

We are pleased to announce that, effective today, September 2, 2015, we are offering four special incentives (hence, the name Grand Slam) for borrowers who are purchasing a home in Baltimore City.
The Maryland Grand Slam Program in Baltimore City will be open for reservations until the allocated funds for the grants are expended. The remaining balance of these … (0 comments)

maryland mortgage mama: Timeshare Default -Shows as a Foreclosure! - 08/11/15 09:39 AM
Timeshare Default -Shows as a Foreclosure!
 
A borrower recently contacted me about purchasing a home in Maryland.   After discussing her needs, I reviewed her credit.
 
She has a timeshare owned jointly with her ex that he has not made payments on it since about 4 months after they purchased it (almost 2 years ago).  She was very surprised to find that her credit report is showing the default as a "Foreclosure; Real Estate Mortgage".
 
 If it is coded on the credit report as a foreclosure, both Fannie Mae and Freddie Mac (conventional financing) view it as they would any other foreclosure.  A foreclosure … (2 comments)

maryland mortgage mama: Where Do I Apply For A Passport In Maryland? - 08/03/15 12:34 PM
Where Do I Apply For A Passport In Maryland?
 
My husband and I have been talking about getting passports for years.  Since he was in the military, he never needed one, mine expired many years ago and since we haven't gone outside of the U.S., we kept putting it off.
 
I finally said "Enough! We need to get them done!"  I grabbed the applications the last time I was at the Post Office and completed them.  My husband took our daughter to get their photos done at the Fed Ex store around the corner one Saturday morning and I stopped in on my way … (3 comments)

maryland mortgage mama: First Time Buyers in Maryland and the Mortgage Credit Certificate - 07/21/15 01:14 PM
First Time Buyers in Maryland and the Mortgage Credit Certificate
 
What is the Mortgage Credit Certificate (MCC), also called the Maryland Home Credit?  
It is a FEDERAL housing program geared to first time home buyers that allows for a federal tax credit on 25% of the mortgage interest paid EACH year for the LIFE of the LOAN!!
 
This is a DOLLAR for DOLLAR reduction against  the borrower's annual federal tax liability.  What does that mean?  It means that a borrower with an MCC can get up to $2000 back on their Federal taxes every year they have the loan.
 
How do I qualify for … (0 comments)

maryland mortgage mama: HARP Extended To December 31, 2016 - 05/18/15 12:54 PM
 
HARP Extended One Year to 2016
 
Per Freddie Mac and Fannie Mae announcements, the implementation of the Home Affordable Refinance Program® (HARP) will be extended through December 31, 2016. The program had been set to expire on December 31, 2015.
 
 
As of December 2014 there were still more than 600,000 borrowers nationwide who would benefit from a HARP loan.  In Maryland there are more than 17,000 loans that would benefit!  Not sure what folks are waiting for!  Are you eligible?
What are the basic eligibility requirements? Current on your mortgage, with no 30-day+ late payments in the last six months and no more than … (5 comments)

maryland mortgage mama: Do I Need To Pay For A Copy Of My Deed? - 04/07/15 09:23 AM
Do I Need To Pay For A Copy Of My Deed?
 
New Home Owner's Beware!
You have just purchased a new home.  There was so much paperwork and so much information, you barely remembered your name by the time it was over. After signing so many pages, your signature sure didn't look like it normally did. Then the big move! The paperwork gets put in a fire resistant safe and you begin enjoying life as a homeowner.
 
A few weeks later you come home to a very official sounding letter offering a copy of your mortgage deed for a mere $39, $69, $89 or more. … (5 comments)

maryland mortgage mama: Could THIS Delay Your Settlement? - 03/18/15 05:00 AM
Could THIS Delay Your Settlement?
 
Spring has sprung in most areas for Real Estate.  My borrower's seem to be involved in competitive offers.  Many of the sales are contingent on other sales to move forward.  A delay in one settlement can be not only frustrating, but the domino effect could be catastrophic.
 
This time of year is always busy.  So many seller's wait to list, and buyers seem to come out in droves! The low rates are still enticing homeowner's to refinance too.
 
With so many loans in process, lenders are BUSY, underwriters and processors are over-worked and loans … (3 comments)

maryland mortgage mama: Who Should I Refer My Maryland Buyers To For Mortgage Financing? - 03/01/15 06:20 AM
Who Should I Refer My Maryland Buyers To For Mortgage Financing?
Just got your Real Estate License and need someone to partner with?
Have a favorite client or family member moving to Maryland and want to help them find the right lender?
Your long time lender is getting out of this crazy business and now you need a new one? 
Frustrated with the lack of communication from the loan officers you have been working with?
Just need some additional referral partners?
Check out this video to learn about why you should consider working with the Maryland Mortgage Mama and her team!!
(4 comments)

 
Bridget "Mortgage Mama" McGee, Maryland Mortgage Mama NMLS#196068 (Corridor Mortgage Group 410-960-2061) Rainmaker large

Bridget "Mortgage Mama" McGee

Maryland Mortgage Mama NMLS#196068

Baltimore, MD

More about me…

Corridor Mortgage Group 410-960-2061

Address: 1825 Dundalk Avenue Ste 101, Baltimore, MD, 21222

Office: 443-574-2560

Mobile: (410) 960-2061

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog