Turning current homes into rentals....think again! The rules have changed....again! - 09/22/08 03:31 PM
We just got information from HUD on changes with FHA in regards to a buyer turning their current home into a rental and using current rents to qualify for a new home. I'm still working out the details but this is going to change our market period, I can think of several who have the intention of renting out their property to buy again. Check all of your buyers that were renting out their properties to make sure they still qualify.   To sum it up, there will only be certain circumstances in which using rental income will be allowed. These are the … (4 comments)

Near-Term Home Sales to Stay in Narrow Range - 09/22/08 12:25 PM
The level of home sales is expected to show little movement in the months ahead, according to the latest projections by the National Association of Realtors®.
      The Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed in July, fell 3.2 percent to 86.5 from an upwardly revised reading of 89.4 in June, which had risen 5.8 percent from May. The July index remains 6.8 percent below July 2007 when it stood at 92.8.
      Lawrence Yun, NAR chief economist, said home sales continue to edge up and down. "Pending home sales are oscillating month-to-month, with the long-term … (1 comments)

Economic Indicators for the week of the 21st - 09/22/08 12:08 PM
 
Below are the economic indicators for the week of the 21st, when you click on the link you can chart it out as well.
… (1 comments)

How much time do you put in? - 09/18/08 01:53 PM
As I come home after another crazy day, I have dinner with my family and my kids ask how was your day. After a deep breath I begin to go over it.....20 minutes later and the eyes of my family glazed over,I realize... that they just don't get it! So to a community of craziness...I want to know on average how many hours do you put into your business. Also, do you think that your effective 100% of the time or could you be better. I know personally I put way to many hours in, I have a hard time staying … (12 comments)

Stupid Question Here.... - 09/17/08 08:19 AM
So I'm working on getting pictures in my blog but now I have seen more linking withing a blog. Like linking a name, linking another website and linking other blogs. How the heck do I do that and what are the benefits to doing that. I thought I was tech savvy but I'm not feeling that way now!! Thanks, Catherine.
… (6 comments)

Best Place for a Long Life..... - 09/12/08 09:20 AM
Larimer County was 24 out of 25 and tied with Orange County in Money Magazine. I have always loved where I live and now I'm know I will love it for a long time! I'm one of those dorks that could walk around wearing a shirt that says "I Heart Loveland"! Loveland and Fort Collins are an incredible place to live your life!
Article from Money Magzine...
Best places for a long life
Residents of these 25 counties enjoy some of the highest life expectancies in the U.S.
24. Larimer County, CO (tie with Orange County)
Towns include: Fort Collins, LovelandLife … (0 comments)

Whoops....a lesson learned. - 09/12/08 08:23 AM
I have a new buyer that I'm working on their loan, they are buying a new house (right down the block from their current home) that is already under contract. They are not happy with their current lender so the builder has recommended them to me. So back to working on the file, they have a current house that they are going to rent out. I apply the rent because they already have a rental agreement. I run the loan through the system....great credit and good ratios. I get an approve eligible with a new alert that I have never seen before.
… (0 comments)

Pictures in your Blog? - 09/11/08 09:41 AM
I see a ton of pictures in blogs, often times they are distracting (if there are too many) but I have tried to put a picture in and it doesn't go so well. How do I do that and is there a benefit of having a picture in your blog? Are their copy-write issues? Lastly, do you find that pictures are better in a blog or are they distracting?
Thanks for your help!
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Lehman & WAMU going down? I'm surprise it took this long. - 09/11/08 08:58 AM
The portfolio of products that these companies offered were CRAZY in the industry! Lehman or their mortgage company Aurora Loan Services were the first ones to come out with the 100% interest only, ARM, stated, investment loan! 100% investment loans are crazy but pushing it through as a stated is even crazier! WAMU has the a different problem that is coming to surface, investors are finally starting to take notice of what I have been saying for a while. WAMU & Countrywide were the front runners of the Option Arm, the negative amortization loans. These should have been brought up long ago as a … (10 comments)

Real Estate Rules....are you playing by them? - 09/10/08 09:10 AM
When it comes down to a deal closing and getting paid if you had to break the rules to get a deal done would you? I personally think that turning a blind eye or playing stupid in real estate won't get you out of court but there are so many that do. I recently overheard a conversation where the agent's listing had inspection issues, the lender would not allow an escrow and would not allow the buyers to get more than their earnest money check so they made a side agreement outside of closing. I heard the other agent say "well … (7 comments)

Don't Trust Me....I'm Your Lender! - 09/02/08 07:17 AM
Can you believe that is what I tell every single one of my clients, be it a first time home buyer or someone down sizing? Guess what? They are listening!!! Instead of shopping me they are educating themselves by doing extra homework (that I give them) and making sure they are prepared at closing.
I explain to them that I'm a commission only employee, their closing of their home is what feed my children. How do they know that I will look in the best interest of them and not myself....really? After all, I'm not stuck with their debt for 30 … (4 comments)

Don't Trust Me....I'm Your Lender! - 09/01/08 10:27 PM
Can you believe that is what I tell every single one of my clients, be it a first time home buyer or someone down sizing? Guess what? They are listening!!! Instead of shopping me they are educating themselves by doing extra homework (that I give them) and making sure they are prepared at closing.
I explain to them that I'm a commission only employee, their closing of their home is what feed my children. How do they know that I will look in the best interest of them and not myself....really? After all, I'm not stuck with their debt for 30 … (6 comments)

Real Estate & Lending...can you really do both? - 09/01/08 04:02 PM
I'm more than a FULL TIME Loan Officer, I say more than full time because with all the changes, file issues, bank owned issues and the continued excellent service that I provide...it keeps me very busy.
I came across an Agent who is also a Loan Officer, he called me on a pre-qual letter that I wrote. He asked questions he shouldn't (credit score and other info about the buyers loan). He also demanded me tell him how I was doing 100% Mortgage for the buyers, which I didn't. He pressed me more and said well since i can't tell him how … (9 comments)

 
Catherine_4683

Catherine Eusea-Mortgage Lender at

Fort Collins, CO

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Prospect Mortgage

Address: 2032 Caribou Drive #102, Fort Collins, CO, 80525

Office Phone: (970) 223-8300

Cell Phone: (720) 300-6777

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