maryland mortgage mama: SHOULD I PAY FOR A RECORDED DEED IN MARYLAND?
- 11/17/14 08:54 AM
SHOULD I PAY FOR A RECORDED DEED IN MARYLAND?
Mortgage Frequently Asked Question:
I have recieved a letter offering to send me a copy of my recorded deed for $83, should I pay it?
A. NO! You would be throwing your money away!
The letter is from a deed retrieval company that provides a service you don't need.
Your Deed is recorded in the land records and what is recorded is the official Deed. The title company typically sends the original of the recorded deed to the buyers once they receive
maryland mortgage mama: ACTIVERAIN MAKES ME A PROBLEM SOLVER!
- 09/24/14 02:46 PM
ACTIVERAIN MAKES ME A PROBLEM SOLVER!
I received a call from a realtor I had never met before. She was referred by another agent who I work with regularly.
"I am looking for a loan officer for my client. Though they speak English, their first language is Vietnamese and would be most comfortable working with a lender who speaks their language. Agent A said that you might be able to help." Agent B
"I don't speak Vietnamese, but let me check around and see what I can find out." Mortgage Mama
My first thought was...Hmmm, how long would
maryland mortgage mama: Don't Assume You Know the Outcome of a Mortgage Consultation You've Never Had
- 09/09/14 08:55 PM
Gene makes some great points about a MORTGAGE CONSULTATION! It is so important to know where YOU are before you make a final decision about your mortgage.
Rates you find on the internet may have no relevance when it comes to your situation.
Take my client, let's call him Bob. Bob called for a 10 year interest rate. He had already spoken to 3 other lenders and gotten the 10 year rate. When my team and I reviewed his documentation and his situation, a 10 year loan would have added a tremendous amount of undue financial stress in the short term. He was
maryland mortgage mama: The Maryland Mortgage Mama
- 09/08/14 06:28 PM
The Maryland Mortgage Mama
The Maryland Mortgage Mama, it's what I do and who I am! I have been in the mortgage business for about 14 years and over the years MORTGAGE MAMA has grown into not only my tag line, but my persona.
IN THE BEGINNING:
One of the realtors I worked with when I first became a loan originator came home from the Maryland Association of Realtors convention many years ago with a crystal pin that said REALTOR GODDESS. I thought it was cute and thought it was a great conversation piece. She told me about Crystal Persuasions,
maryland mortgage mama: ActiveRain MeetUp in Baltimore See You At Bones
- 08/13/14 11:04 AM
Hope to see you TOMORROW at Bare Bones in Ellicott City on August 14th at 11:30 AM!
The Maryland meetups are always so much fun and I always learn something! We have a great mix of Rainers who show up, from our lovely millionaire hostess, Margaret Rome, to newbies just sticking their toe in the puddle! You don't even have to be a Maryland agent, we have had lots of out of towners stop by for a chat!
Be sure to let Margaret know you are coming (or call Mortgage Mama at 410-960-2061), so we can make sure to set you a place!
maryland mortgage mama: DIVORCE and MORTGAGE DEBT, WHO’S RESPONSIBLE?
- 08/12/14 11:44 AM
DIVORCE and MORTGAGE DEBT, WHO’S RESPONSIBLE?
Divorce is never easy...if there's a family home and mortgage involved, who is responsible to make the payments?
In most divorce negotiations the disposition of property is often one of the most contentious (after custody and child support).
Many times one spouse will remain in the marital home and, if both parties are on the mortgage, the spouse that stays will be required to refinance the mortgage.
BEWARE: Though the marital contract is severed with the divorce decree, the credit contract (the Mortgage) is not released until the home is sold or refinanced
maryland mortgage mama: Do You Think My Work Is Cut Out For Me?
- 08/05/14 06:24 PM
When searching for a home, many buyers have a loose idea of what they are looking for in a new home. Some, like these folks looking for the right home in the Pikesville/Owings Mills area know EXACTLY what they are looking for.
If you are considering putting a home on the market that meets this buyer's list of wants or are a realtor with a "coming soon" that fits this description ...contact Margaret Rome today!
You can reach her at 410-530-2400.
Do You Think
My Work Is Cut Out For Me?
Many years ago, maybe a dozen or
maryland mortgage mama: ActiveRain Memorial Luncheon For Lee Rome-Friends, Food, Fortunate!
- 07/17/14 07:00 PM
ActiveRain Memorial Luncheon For Lee Rome-Friends, Food, Fortunate!
Today we held a special ActiveRain Meetup in memory of Lee Rome, and in support of Margaret Rome.
When Lee passed away 2 months ago, there was an outpouring of love for Margaret. There were folks that wanted to support her but were unable to attend the service. There were folks that found out much too late to attend. Several spoke to me about getting together the local ActiveRain friends support. At the time, though incredibly touched, Margaret was not ready.
About a week ago, we talked about it
maryland mortgage mama: WHY REALTORS DON'T LIKE TO WORK WITH FOR SALE BY OWNER
- 07/14/14 08:53 PM
WHY REALTORS DON'T LIKE TO WORK WITH FOR SALE BY OWNER
I have a friend who has her home on the market. She is selling it by owner. She has paid a company to put her property on the [MSL]. (Multiple Listing Service). She is offering a 3% co-op fee to real estate agents who bring the buyer.
I asked her why she chose to go FSBO. She said, "If I am on the MSL, why do I need an agent? What are they going to do for me? It is important to note that she has not had more than
maryland mortgage mama: ACTIVERAIN Memorial Luncheon for LEE ROME JULY 17th 11:30-1:30
- 07/10/14 02:50 PM
ACTIVERAIN Memorial Luncheon for LEE ROME At Kelsey's on JULY 17th 11:30-1:30
You are cordially invited to celebrate the life of Lee Rome, in support of our beloved Margaret Rome
WHEN: July 17th 11:30--1:30 ish
8480 Baltimore National Pike
Ellicott City, MD 21043
WHO: ActiveRain Friends
Plenty of parking, yummy food.
Please let me know you are coming by Tuesday 7/15 so I can confirm the reservations.
Bridget McGee 410-960-2061 or leave a comment here.
ACTIVERAIN Memorial Luncheon for LEE ROME
JULY 17th 11:30-1:30 at Kelsey's Irish
maryland mortgage mama: Top Four Reasons Loans Are Denied
- 07/08/14 11:30 AM
Top Four Reasons Loans Are Denied
The perception in the market is that loans are harder to get these days. Actually, they are easier to get then they were, but certainly harder than before the mortgage meltdown. It became too easy for unqualified borrower's to qualify for mortgage loans and the result was folks in home who should have either never purchased or homes they really couldn't afford.
What are the top four reasons loans are denied?
1. DTI Debt to Income-Potential buyers have too much debt. The total of all monthly payments on credit cards, student loans,
maryland mortgage mama: ARE YOU GOING AWAY FOR THE 4th? NOPE! I LIVE IN CATONSVILLE, MD!
- 07/01/14 07:08 PM
ARE YOU GOING AWAY FOR THE 4th?
NOPE! I LIVE IN CATONSVILLE, MD!
I was speaking with one of my favorite realtors this afternoon and she asked "Are you going away for the 4th?".
My response, "No way, I live in Catonsville!"
Catonsville is the best big town with a small town feel I know. Located just outside of Baltimore, within an easy commute to DC, Annapolis and beyond, Catonsville, Maryland is a town where everyone you meet knows someone you know. Often when parents move out or move on, their children buy their homes. There are
maryland mortgage mama: WILL CHILD SUPPORT OR ALIMONY BE COUNTED AS INCOME FOR MY MORTGAGE?
- 06/25/14 09:05 AM
WILL CHILD SUPPORT OR ALIMONY BE COUNTED AS INCOME/DEBT FOR MY MORTGAGE?
Child support and alimony can be considered income for mortgage loan purposes, though it is not required to be disclosed/counted as income and documented if not needed for qualifying. Child Support and Alimony will be considered a debt, though if not required to continue for more than 10 months, it may not affect qualifying.
If you are using this income for qualifying or disclose that you have a child support/separate obligation the lender will require:
a complete copy of the separation agreement (if not included
maryland mortgage mama: Live Radio Show Sunday 12 Noon With Margaret Rome and Guest Mortgage Mama
- 06/15/14 04:43 AM
If you or someone you know is considering a home purchase in the future, be sure to listen in today at noon. Margaret Rome and I will be discussing mistakes some folks make. Hopefully we can help you avoid these homebuyer pitfalls for a smooth and joyful journey to your purchase!
Be sure to listen today (Sunday, June 15th, 2014) on WCBM680 in Baltimore. You can catch the live stream via your computer if you are out of the listening area. AND if your Father's Day plans make it too hard to listen, you can catch a replay on the podcast!
maryland mortgage mama: THREE BIG MISTAKES FOLKS MAKE WHEN THINKING ABOUT A HOME PURCHASE
- 06/11/14 04:21 PM
THREE BIG MISTAKES FOLKS MAKE WHEN THINKING ABOUT A HOME PURCHASE
I have been in the mortgage business for over 13 years. I talk to folks thinking about buying homes in Maryland every day. I find that sometimes these folks just are not ready to purchase, too often, these mistakes can be avoided. Today I am here to share three BIG mistakes that folks make when thinking about a home purchase.
Falling in love with a home before determining how much they can afford.
It’s always fun to browse on line or stop by open houses, but
maryland mortgage mama: SHOP AMAZON SMILE AND DONATE TO YOUR FAVORITE CHARITY FREE
- 06/02/14 06:36 PM
SHOP AMAZON SMILE AND DONATE TO YOUR FAVORITE CHARITY FREE
I am not a fan of going shopping. Any shopping, really, I avoid most stores as often as I can. If I absolutely must shop, I like to get in and get out and shop local when do shop. Luckily I have a husband who doesn't mind grocery shopping and trips to Walmart (Actually, he enjoys it!)
When possible, I tend to do my shopping online. I am an Amazon Prime member. The fee is worth it to me for quick shipping and easy returns.
Amazon has a great new program where they will make a donation
maryland mortgage mama: Consider a local bank on your next home purchase. You'll be glad.
- 05/30/14 07:12 PM
Mike Cooper brings up several stories of big banks causing great stress to buyers and real estate agents alike because there were last minute turn-downs for things that should have been caught at the beginning of the process. It is SO important that lenders review all documentation early in the home buying process to ensure smooth sailing through closing. If you are working with a lender who gave you a prequal without reviewing your documentation thorougly, you may be in for a surprise! This doesn't happen all the time, there are some great folks that work for big banks, but sadly
maryland mortgage mama: First Time Home Buyer Grants and Loans in Maryland
- 05/29/14 01:37 PM
First Time Home Buyer Grants and Loans in MD
Did you know that there are special loans and grants available based on who you work for?
The program is called:
House Keys For Employees (HK4E).
The companies are not all huge corporations, city governments and universities as you might expect. There are small and mid-size companies including hair salons, locksmiths, tire companies, bakeries and more! Each company/organization will have their own rules that will apply to the availability of funds, so be sure to check with your human resources department to see what they have available.
maryland mortgage mama: Germantown, Maryland Has Lots To Offer Residents!
- 05/29/14 08:10 AM
Germantown, Maryland Has Lots To Offer Residents!
Beautiful home in Germantown, Maryland! The all brick home has 3 bedrooms upstairs and one downstairs and plenty of bathrooms in the end of group property! Great for commuters to DC (only 25 miles to the the capitol!), Frederick and beyond. If you are not familiar with all that Germantown has to offer...read on!
Did you know that Germantown is a commuter's dream? Not only are there 3 on ramps to 270 nearby and the ICC (use the Intercounty Connector-avoid the traffic and get where you are going faster!!), there is a Marc train, and it's a
maryland mortgage mama: Maryland and Delaware USDA Loans-EXTENDED CONTRACTS NEEDED
- 05/22/14 05:58 PM
Maryland and Delaware USDA Loans-NEED MORE THAN 30 Days on those purchase contracts!
USDA Loans are great loans that offer no money down financing to folks purchasing in Rural communities. You may be surprised to know that this does not mean that you must purchase farm land. Property eligibility is determined by the density of the population.
As you might imagine, in Maryland, Baltimore City does not offer any USDA financing. Much of Carroll and Frederick Counties qualify for no money down financing with USDA. Parts of Baltimore, Howard and Prince George’s County also qualify for no money