Getting A Mortgage Quote In Todays Market - 08/04/07 05:38 PM
With the market changing everyday your Mortgage quote options in today's market are extremely tricky, with so many companies desperate for your business how do you know which ones are right for you? Your local bank can't come close to what a broker or banker can do for you so were do you go? Don't be fooled by those expensive commercials you see on TV, you know the ones who say get up to five quotes to compete for your business. Here's the problem, most people who try this route, usually get frustrated by how many calls and emails they get … (0 comments)

Uneven Regulations - 08/04/07 05:30 PM
·Uneven regulation. State laws on predatory loans don't govern national banks, which are exempted under a ruling by the federal Office of the Comptroller of the Currency. The banks fall under less-restrictive federal rules.
  This means they can charge you as much as they want without any recourse. While there are always advantages and disadvantages with, Banks, Brokers and Bankers, you need to find someone who you can get along with, someone who after talking with them sounds like they have your best interests in mind, and someone most importantly who will educate and explain to you all the costs associated with … (0 comments)

Changing by the day - 08/04/07 05:16 PM
Received an email from one of my account executives about how most companies are doing away with certain programs, the stated income stated assets programs are going to disappear, it will now be a stated income verified assets, with at least 6 months reserves or 25K which ever is greater. You will soon see banks lending only on full doc loans which will certainly destroy the housing market and cause several hundreds of thousands of jobs go down the drain, this is a huge problem, one that needs to be addressed immediately. If the government doesn't do something quick, we are … (5 comments)

Another one bites the dust! - 08/04/07 12:48 PM
It happened again, yet another blow to the real estate market, more lenders went out of business and the mortgage field has lost even more programs, guidelines have been tightened for all stated and no doc income programs, If you have clients who are self employed or have a hard time showing income, there choices will be limited to the programs and LTV they will qualify for, the guidelines for minimum credit score and asset's has been changed and not for the better, The banks/lenders are taking it to far, they are digging there own grave and bringing us down with the ship, the … (0 comments)

 

Mark May

Latham, NY

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Bourdeau Financial Inc.

Office Phone: (866) 530-7300 x 7320

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