northwest indiana fha: Don't wait to buy an Indiana Home - 01/28/10 04:15 PM
- Waiting Could Cost You $1000's
This is no April Fool's joke, but if you wait to buy an Indiana home you will be the fool. On April 5th, the required up-front mortgage insurance premium (MIP) will increase to 2.25%. So, buying a $150,000 home in Indiana with 3.5% down payment of $5250, the up-front MIP will be increased by $732.76. Granted, the up-front MIP is financed as a part of the loan, by why pay extra when you don't have to. Also, later on this Spring, Indiana Home sellers will no longer be allowed to give more than 3% in … (0 comments)
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northwest indiana fha: Looking Past the Headlines - 01/16/09 11:51 AM
Looking Past the Headlines
I have preached and preached about the negative news that we get, but they are still up to it and it still makes me mad as a hornet. In the latest, Mad Mortgage Machine blog and videocast, I go off on the papers a little as they expound and do not give the whole stories and how the banks are requiring more upfront points.
Here is the video and the link to the Rest of the Story. I love Paul Harvey.
Dave Woodson
… (1 comments)
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northwest indiana fha: Wait for it...Do it, Do it NOW - 01/15/09 11:57 AM
After a weak holiday shopping season, annual retail sales declined in 2008. I know we did a smaller Christmas in our family and extended family
It is the first time annual Retail Sales declined since the government started tracking the data some 40-odd years ago.
It also gives nod to the notion that the U.S. economy is suffering through a deeper recession than I previously ever thought. There was a large pullback in spending, especially in December which is the heaviest shopping month, this highlights just how cautious and tentative the nature of the American shopper.
I find it strange … (2 comments)
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northwest indiana fha: Supplying Demand - 01/13/09 06:01 PM
Everything we buy is based on Supply and Demand, oil, cars, food, hdtv and even Real Estate.
* If demand outweighs supply, home prices rise (think 2002-2007) * If supply outweighs demand, home prices fall (think last year) So, it was good news for sellers last month that the inventory of “used” homes fell 6% nationally last month. Less supply often means higher prices. Think of “Tickle Me Elmo” on Christmas Eve, your kids wants one and you got the means, what are you willing to pay?
And, of the 29 metro areas that are tracked by the real estate … (2 comments)
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northwest indiana fha: My Predictions for 2009... - 01/07/09 12:22 AM
I Predict that… 06 January 2009 | Business, Mortgage, real estate | admin
The New Year is not even a week old but that is not stopping the market “experts” from predicting what’s in store for us in 2009.
The calls on Indiana housing and Indiana mortgage rates run the gamut:
* Home prices will fall more * Home prices have hit bottom * Mortgage rates will dip just a bit more * Mortgage rates will rise a lot
If you put it all together it is pretty clear that the “so-called” experts have no clue what the future holds for … (5 comments)
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northwest indiana fha: Short Cuts - 11/19/08 01:11 PM
Short cuts Equal short checks
I used to work with a guy whose motto that was to all of us. Whenever, we had the urge to maybe try to get around something. He would magically appear at our door and announce, “short cuts equal short checks”. That has stayed with me for many years now and you would not believe how true that statement really is.
I know of a transaction in LaPorte County some years ago where either the Seller or the Sellers Agent did not order a survey on the property that was being sold. Then at the … (5 comments)
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northwest indiana fha: A Legend Remembered - 11/15/08 11:23 AM
I was at the gym today sitting in the sauna after a hard bike ride. I was flipping through my iPod at the videos that I have stored there. I came across one of my favorites that I forgot was stored there. The NFL Films of Walter Payton. I miss him, he was such an awesome competitor. He'd rather run you over than go out of bounds. He hurt his tacklers as much as they tried to hurt him.
He was a successful business man, restaurant owner and race car driver after he left football. He was a kidder he loved … (11 comments)
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northwest indiana fha: Prove Yourself - 10/29/08 09:53 AM
"Any job you're given is an opportunity to prove yourself." Meg Whitman (1956 – ) Longtime CEO of eBay
How well do you do the little jobs? I may gave told this one before, but it bears repeating as I watch some younger people walk away from good jobs.
One day out of high school, I took a 4 hour job with ManPower to unload a truck at the new Lighthouse Place Mall in Michigan City. I was told that I would be paid for four hours whether or not I worked the four, but I would be paid more if … (3 comments)
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northwest indiana fha: Yeah, well, up yours - 10/21/08 04:03 PM
Here is my number (219)872-8000, in my town and I am sure it is in your town and city. The phone numbers like mine are vanities. I used to have another one, but I lost it when I decided to move into the Mortgage Bunker. As, you are aware there are different prefixes as well, like in my area is 872, 873, 874, 877, 878, 879 and 871. I know one of my older numbers was very similar to a gas station.
Well, my (219)872-8000 is very close to (219)879-8000. How, you ask, well people see that this the 879 line … (3 comments)
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northwest indiana fha: Indiana USDA - Rural and a not so Rural Loan - 10/14/08 06:19 PM
While there are sections of the state that are out of bounds, there are whole counties that this is very useful home loan product and it is a great option for those that may have a limited income. This can also be used for new construction and even development of new home sites.
There are few stipulations and each address must be verified, but for more information visit Indiana USDA for more information.
Here is a great scenario to think of as well, since this is a no-money down program, but with the tax credit from US Gov't some buyers may … (1 comments)
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northwest indiana fha: I am in the Top 10 - 10/12/08 02:06 PM
My first ever blog was on October 4th, 2006, I sputtered and spattered for the next year to August 10th, 2007. Where I seemed to get what blogging was all about.
I have covered topis from getting kicked out of a Best Buy Store to my wife and child. I am real person. I feel pain and I know when I am being attacked by the average Joe LO. I have had some ups and downs on AR. I have read posts that made me laugh out loud and I read some that made me shut my office door so I … (16 comments)
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northwest indiana fha: Chili for Breakfast & 700 billion seconds ago - 09/29/08 10:01 AM
It is what all the mortgage champions are eating for breakfast.
I love pizza, and I really like Chili. I really like it for breakfast it is a super food. No, I am not going to break into the "beans the magical fruit" song. Well, for one my chili does not have beans. It has corn, and turkey, Italian sausage, diced tomatoes, spices from the gods and BAM we got chili. I ate it all day yesterday, but I am sure we all know that chili is best the next day or even the day after that.
Well, why am I … (6 comments)
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northwest indiana fha: Bounce, we like a good bounce - 09/23/08 09:18 AM
Hey, everyone, I just wanted to share a Mad Mortgage Machine Minute with everyone.
We have a nice bounce off of the 25-day moving average. We are 44bps at this point in the day. Oil is down under $108/barrel and stocks look to open higher. Here watch this quick video from deep down in the Mad Mortgage Machine Bunker
If you have any questions or concerns - just let me knon. I have my FHA Training ready for Realtors, I can come to your office or even do it face to face in a Starbucks for those that would … (1 comments)
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northwest indiana fha: Hey, I Tried - 09/22/08 09:00 PM
Saturday, while I was out running a few errands. I came across a Realtors sign that had a call capture # on it. I called it to see who or what it might say. And, I got a "that extension does not exist" recording.
So, today, I drove by the same place as I was out hitting a few places to market to and garner some more business. I called again and again I got the same recorded message. OK, I thought, I will call the Realtor on the sign. I did and that was over 8 hours ago and he … (23 comments)
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northwest indiana fha: 24 hour no AR, but plenty of water - 09/15/08 11:43 PM
Well, I am here in NW Indiana and I am battling the Battle of the Wet Basement.
It is touch and go since Saturday morning, the worst of it seemed to come last night as the rain stopped and waters kept rising. Gosh, I need a Johnny Cash song here right now,
"how high is the water poppa; 2 feet high rising, darling"
OK. enough pf that. We are bad but I am hearing stories of worse in our area with Munster, IN taking a beating and my parents neighborhood they are battling it out, except my Mom and Dad. I … (3 comments)
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northwest indiana fha: Mad Mortgage Machine Show for 09/13/2008 - 09/12/08 12:29 PM
Here is a quick video for tomorrows Mad Mortgage Machine Show and podcast.
This week, I talk to Giovanni from New Beginnings Credit Repair in Merrillville, In. I, also, discuss the fairy-tale foreclosure from the Extreme Home Makeover in Atlanta, Ga, the possible affects of the the fed taking over Fannie and Freddie, and the possible resurrection of Down Payment Assistance.
So, tune in tomorrow for the Mad Mortgage Machine Radio Show on WIMS am 1420 or WIMSRadio.com
The NW Indiana FHA Lender of Choice
Dave Woodson
The Mad Mortgage Machine
… (0 comments)
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northwest indiana fha: Now this has to stop... - 09/10/08 08:26 AM
Do you know that this housing disaster(as some people are calling it) is hurting some of our most prized processions. No, not the Declaration of Independence, the Bill of Rights(that gets trampled everyday) or even the home of our first President. No, the people being hurt by this housing crisis are our very own NBA basketball stars. Even the ones that don't like to practice.
AI (Allen Iverson) for those that don't read the sports page or watch ESPN with regularity, and it certainly does not stand for artificial intelligence, which I am not sure if has ever displayed any at … (2 comments)
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northwest indiana fha: Unchain my heart and set me free - 09/09/08 09:23 AM
Just heard that song and it sounded like a good title for what I am doing here and now
The fed is making it easy for us to go back into a refi boom. Rates dropped yesterday on the news that the Fed was taking over Fannie and Freddie and I will still be honest with you. I am not sure what to think, but I am going to act and get it out there right here and now.
Use this window to refi or lock your great rate. We were up 144bps yesterday and today we are up just 6bps. … (0 comments)
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northwest indiana fha: Cue Queen - 09/04/08 02:32 PM
Another one down and another one bites the dust.
I hate to see GMAC go down as far as it has. I like Homecomings, My personal loan was through them for all of 5 minutes till it was sold to someone else. If I can gloat, 5.3% for 30 years fixed. I am not complaining one darn bit.
I nearly took a job with GMAC in Valparaiso, Indiana last month when I decided to shutter my office and work from my home. I am so glad that I did not now, or I would be on the outside looking in and … (4 comments)
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northwest indiana fha: Ever make a mistake this big - 09/03/08 09:31 AM
Did you hear the one about the parachutist that landed in the football stadium to deliver the game ball, in the wrong stadium. Well, it happened last Saturday. "Doh", Homer would say.
I am sure we all have made mistakes and now more than ever people are in a living nightmare by not listening to a true mortgage professional. They went with some fly-by-night, of the TV Li-Tech type of place and got sold on a mortgage they could not afford. Or, even worse, went to the local bank and got sold a loan when they should have gotten another … (6 comments)
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