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mortgage: If It Sounds Too Good To Be True.... - 02/03/09 06:24 PM
Many of our clients are getting mail from different mortgage companies offering "special deals" for loans. What happens is as soon as a mortgage lender pulls your credit, the credit bureaus sell your inquiry to mailing lists that are distributed to direct solicitation companies who then call or write you about refinancing with them.  Coincidence, huh? 
100% of the time I have looked at the direct mail solicitation, it has been deceptive advertising a bait and switch scam, or simply not as advertised when the client called to take advantage.  
For instance: 
A client and friend of mine dropped off a piece … (1 comments)

mortgage: Don't Wait Until It's Too Late to Lock Your Record Rate! - 01/26/09 09:04 PM
Let's face it, everyone wants to get the best deal out there.  We want to get that house at the bargain basement price, we want to buy the car after making the car dealer say "mercy", and we all want the VERY lowest possible rates on our mortgage.  For the past 5 years, with the exception of a few brief moments, mortgage rates have generally been in the high 5's to high 6's.  When rates went down into the 4's a couple of weeks ago, many people jumped on the opportunity to get an unprecendented rate on their home loan.  However, there … (0 comments)

mortgage: 6.5% vs. 5.0%....What's the Real Difference? - 01/24/09 10:35 AM
Have you ever wondered the difference in payment and interest savings between a rate of 6.5% and 5%?  Here you go:

As you can see, the savings is significant:  $152 per month payment difference, $23,782 interest savings over 10 years, and over 8 years off your mortgage if you continue to pay the 6.5% payment with the 5% rate. 
Many consumers will miss out on a tremendous amount of savings trying to time the bottom of the rates and get the "perfect rate".  If you are over 6%, don't hold out for 4.5% if you can get 5% currently.  It's … (0 comments)

mortgage: America's Savings Rate (Or Lack Thereof) - 07/02/07 12:17 AM

As you can see, Americans are spending more than they are making!  This has never happened before, but is now a trend that has been in place since 2005. 
What is frightening about our lack of savings is we will be facing a huge problem at retirement if things don't change.  3/4 of Americans age 55-64 have less than $56,000 saved for retirement.  They can't live off of that considering the average social security benefits are less than $1,000 per month.
97% of Americans with children do not have a college savings plan.
65% of Americans live paycheck to paycheck.
As mortgage professionals and … (6 comments)

mortgage: Tips for a Smooth Closing - 06/29/07 12:13 AM
Buying a house is a big deal.  There is no way to completely eliminate the stress associated with buying a home, especially your first home.  However, if you follow a few simple steps, you will be able to keep the stress levels to a minimum.  
ALWAYS get pre-approved BEFORE you begin looking at specific homes and especially before you make contract on a home.  Different clients qualify for different programs and payments may vary greatly on the same home and loan amounts.  Have a clear understanding of your budget and how your new loan will fit into that budget BEFORE you … (7 comments)

 

Brent Sute, LWC

Tuscaloosa, AL

More about me…

Hometown Mortgage

Address: 1635 McFarland Blvd. N., Suite 503, Tuscaloosa, AL, 35406

Office Phone: (205) 409-7865

Cell Phone: (205) 310-2335

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