mortgage: Refinancing - 02/08/08 10:46 AM
I read an article this morning on www.cnnmoney.com titled Refinancing:  Only For the Priveledged Few.  The main gist of the article was the difficulty that homeowners are having refinancing their current mortgages.  One of the major reasons for this problem:  lack of equity.  With many markets experiencing deteriorationg conditions, or being in a declining market, homeowners are seeing their equity decrease and lenders are leery of lending money in an area that may be losing value. 
Not all areas have been hit hard by the "credit crunch", and home values here in middle Tennessee have remained stable and are experiencing a moderate amount … (3 comments)

mortgage: FED Cut Rate Again - 01/30/08 01:36 PM
The FED met today and cut the Federal Funds Rate and the Discount Rate by a half percent each.  The Federal Funds Rate is an overnight bank lending rate that affects home equity lines of credit, credit cars, and auto loans .  It is now at 3%.  The Discount Rate is what the banks pay to borrow money directly from the FED.  It is now at 3.5%.  This will not, however, directly effect long term interest rates.
… (9 comments)

mortgage: Expected: Half Point Rate Cut - 01/30/08 11:37 AM
Today the FED meets, and experts are expecting at least a half point rate cut to the Federal Funds Rate and to the Discount Rate.  Some say there is a 80% to 90% chance the FED will lower rates again, this after the surprise three quarter point cut last week.  The markets will react today and tomorrow based on what the FED decides to do, and by the language that they use.  We will just have to wait and see what happens to see how it will all turn out. … (2 comments)

mortgage: Home Buyers Seminars - 01/28/08 02:04 PM
Have you ever done a Home Buyers Seminar and not had a good turnout or response?  Do you know the reason why?  Perhaps it was the time of year that you did the seminar...
The majority of apartment leases expire in the spring or in the fall (68%).  This means this is the best time of the year to do a Home Buyers Seminar.  February through May can produce excellent leads if you market your seminars to apartment complexes, and provide the right information.
… (9 comments)

mortgage: Today's Rate Cut - 01/22/08 07:10 PM
By now it is no surprise that the FED lowered rates by .75% today, in a move that shocked many people.  It is the first time they have reduced rates between a scheduled meeting since the day the market opened after the September 2001 terrorist attack.  They are scheduled to meet again on January 30 and most likely cut rates again by .25% to .5%.
What rates were cut?
The Federal Funds Rate, which is how much consumers pay on credit card debt, home equity lines of credit and auto loans.  It is now at 3.5% (Prime is this + 3% = 6.5%).
The … (1 comments)

mortgage: Rehab Loans - 01/21/08 03:04 PM
With reports of record foreclosures, and more to come, now is a great time to be purchasing investment properties.  Many of the investors I work with have been utilizing Rehab Loans.  They are great for properties that have good potential, but need work.  Distressed properties are great because you can get them for a fraction of the value.
With a Rehab Loan you can get cash at closing to do the repairs necessary to help fix and sell the property.  The investor gets up to 80% of the After Repair Value.  This gives plenty of cash to the investor and protects the … (1 comments)

mortgage: Time Management - 01/17/08 06:02 PM
We've all heard "Time is Money!"  But do we use our time at work wisely, so we can make more money?  Using time management better has been one of the single most important business moves I have made.  Here are a few ways to help use your time more wisely.
Do not play around on the internet:  It is very easy to waste an hour or three surfing the internet accomplishing nothing at all.  Save this for after hours, or while at home.  The time to work is from 8:00am to 5:00 (maybe 6:00)pm.  Do not email friends, shop, and do the things … (2 comments)

mortgage: Time Management - 01/17/08 06:02 PM
We've all heard "Time is Money!"  But do we use our time at work wisely, so we can make more money?  Using time management better has been one of the single most important business moves i have made.  Here are a few ways to help use your time more wisely.
Do not play around on the internet:  It is very easy to waste an hour or three surfing the internet accomplishing nothing at all.  Save this for after hours, or while at home.  The time to work is from 8:00am to 5:00 (maybe 6:00)pm.  Do not email friends, shop, and do the … (0 comments)

mortgage: Two & A Half Yr. Low - 01/16/08 12:59 PM
I read today that rates are at a two and a half year low.  This should be good news for everyone in the Real Estate business.  Let all your buyers and sellers know that now is a GREAT time to be buying or selling, and not to miss an opportunity to get locked in at a rate in the mid to low 5% range!!! … (1 comments)

mortgage: More Rate Cuts To Come - 01/10/08 03:09 PM
Federal Reserve chairman Ben Bernanke said Thursday that the FED is ready to step in and make rate cuts to help the slowing economy stay away from a recession in 2008.  Experts are saying his statements point toward a cut of as much as 1/2 % at the January meeting, and maybe more cuts to come at the March and April meetings.  While some think we could already be in a recession, Bernanke said he expects slower economical growth in 2008, but not necessarily a recession.
With the housing market slowing, do you think these rate cuts will help sales in 2008?
… (2 comments)

mortgage: Credit Score Questions Answered - 10/25/07 12:00 PM
HOW CREDIT SCORES WORK
What goes into your credit score?:
Payment History (35% of the rating)Length of Credit History (15% of the rating)New Credit (10% of the rating)Types of Credit Used (10% of the rating)Debt (30% of the rating) (try to keep all balances below 60% of high credit limit)•      Pay all bills on time.  This is probably the most important factor in the Credit Score Calculation.  If you are consistently 30 days overdue, your score can drop by as much as 100 points, depending on how long the account has been open and how long ago the late payment took place.  … (4 comments)

mortgage: Current State Of The Mortgage Industry - 10/19/07 12:44 PM
 
The Current State of the Mortgage Industry
What Is Happening?
We are seeing unprecedented events right now.  In the last weeks and months, we have seen many companies in the non-conforming mortgage industry experience severe problems.  Many have been forced to close their doors or cease funding loans.  This has affected everyone from Realtors to Mortgage Brokers.
SubPrime rates have continued to rise over the past 6-8 months.  More and more lenders are shutting their doors and ceasing operations.  This has made it harder and harder for low credit borrowers to get 100% financing.  Also, more Full Documentation Loans are needed.  If a borrower … (8 comments)

 
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Clint Haynes

Mount Juliet, TN

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Peoples Home Equity, Inc.

Address: 2685 N. Mt. Juliet Rd., Mt. Juliet, TN , 37122

Office Phone: (615) 288-4452

Cell Phone: (615) 972-8221

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