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lenders: Responsible Lenders - Self-Help Featured in Raleigh News & Observer - 08/18/08 09:13 AM
Self-Help was featured in a local paper, the Raleigh News & Observer, over the weekend. Our mantra when selling homes and lending money is to use common sense and always look at the big picture. It's kept us afloat so far, and hopefully will allow us to continue to do good things for the people and communities that need our services. As an organization, we usually go out of the way not to blow our own horn, but I'm glad the N&O decided to do a story on us. I think it's good for people to know that not all lenders … (0 comments)
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lenders: Pick-A-Pay Part II - 04/15/08 11:50 AM
And the other shoe drops. Wachovia has just reported a $393 million first quarter loss, and plans to cut 500 jobs. Much of the loss is attributed to Wachovia's expansion into the mortgage industry, just as this sector was about to collapse. I reported on Wachovia's ill-timed acquisition of Golden West Financial and its flagship Pick-A-Payment loan product over the weekend.The Pick-A-Pay loans were portfolio loans for Wachovia, meaning that the lender kept these loans in house instead of selling them to outside investors. Wachovia received the benefit of the higher interest rates on these loans, but also had all of … (0 comments)
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lenders: Wachovia Reigns in Pick-A-Pay? - 04/12/08 08:24 AM
When I saw the television ad for Wachovia's Pick-a-Payment mortgage, my jaw hit the floor. I saw the commercial at least a month ago, but couldn't formulate a coherent blog entry until now - I was that irritated.In the midst of the fallout over shoddy lending practices, Wachovia chose to push THIS? For those who have never encountered a pick-a-pay loan, let me explain. The real name for this loan is an option ARM. Each month, the borrower gets four payment options: 1) Pay the fully amortizing principal and interest payment (basically as if you were paying on a 30 year … (4 comments)
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lenders: M/I Homes Beats Lennar's Deal - 02/22/08 02:47 PM
A couple of weeks ago, I posted about a great deal being offered by new home builder Lennar. Apparently, M/I Homes has decided to go one better. Lennar offered a 30 year fixed rate mortgage at 4.875% - M/I is offering 3.875% for the first year, which adjusts to 4.875% in years 2-30. Looks like the deals keep getting better and better. Check out their TV ad and see which markets qualify for the offer at the M/I website. … (1 comments)
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lenders: Lennar Offers a Deal - 02/09/08 07:11 AM
National homebuilder Lennar is offering a deal: a 30 year fixed rate mortgage at 4.875% if you purchase one of their homes using their preferred lender. Plus, they are paying up to 6% towards closing costs. An interest rate this low is worth a serious look, as it will boost buying power significantly. There is, of course voluminous fine print attached to the deal - read carefully and review with your real estate agent. Another note of warning: Lennar is on the Ailing/Watch list over at Builder-Implode.com. DO YOUR RESEARCH on any Lennar neighborhood you are considering. I've read some horror … (10 comments)
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Tamara Heyward
Durham,
NC
More about me…
Self-Help
Office Phone: (919) 956-4423
Cell Phone: (919) 490-7014
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