lenders: The BIG Old (cumbersome) Banks... - 06/05/09 09:02 AM
So perhaps 2 blog posts in a row about big lenders being bad is a bit much. But when I have clients completely Sc%$@*d by a bank - I tend to get a bit "annoyed".
After Bank of Everywhere - threw customer service out of the window and made my clients … (25 comments)
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lenders: We can't just blame Wall Street or the Government... - 04/08/09 12:49 PM
I am going to write about a very sensitive subject. There are strong opinions on both sides - however I am someplace in the middle. Now this was inspired by someone whom I have the utmost respect for; fellow blogger and Real Estate Broker, Lenn Harley."They Bought Homes They Couldn't Afford" … (49 comments)
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lenders: Oh Mr Loan Officer - Behave yourself. - 04/04/09 08:34 PM
Now and again we all run across Loan Officers who don't always do the right thing. The good thing - they are farther and fewer between than years past. Still - sometimes they are out there. Waiting - lurking - preying on Buyers who don't know any better.
Mine was one … (5 comments)
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lenders: Interest Rates - What are they doing ? - 12/28/08 08:58 PM
With the recent news of lower Interest Rates; I am gettng calls every couple of days with folks asking; "What have they done today?"
While every bank differs slightly; the averages are below. Source: BankRate.com
30 Year Fixed 5.36% Up from 5.27% Last week
15 Year Fixed 5.23% Same as Last … (1 comments)
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lenders: Have Lenders not learned their lesson? - 10/15/08 04:16 PM
Last week on the way to a settlement I had the buyers loan officer call me. It seems he made a wee bit of an error - in the sum of $3400! The credit he was suppose to give the buyer from my client, the seller; was having issues clearing the … (2 comments)
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lenders: "Declining Market" Lender Guidelines continue to hurt the market - 06/02/08 07:30 PM
While I have noticed a definite increase in business; the Real Estate market continues to suffer because tougher lender guidelines.
Last month, Fannie Mae announced they would scrap their High down-payment requirements for borrowers in "declining markets". This policy change went into effect June 1st. The policy called for 5% more in … (6 comments)
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lenders: Navy Federal Credit Union - Announcement : Oversight or Snub to the US Coast Guard? - 05/30/08 11:41 AM
Navy Federal Credit Union has been an often popular Mortgage Lender for Navy members and their families. While not known for the best 'service'; they offer some of the most competitive mortgage interest rates around.
An Announcement by Navy Federal Credit Union states:
"We are now offering the benefits of Navy Federal membership … (9 comments)
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lenders: Financing makes the condo market that much tighter... - 04/03/08 05:01 PM
Everyone know that the Real Estate market is slower than years past. Everyone also knows that there are many - MANY homes for sale. Even in Washington DC; where our local Real Market has not suffered anywhere close to many parts of the country; we have a great many homes for … (2 comments)
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lenders: How to Choose your Lender? Ask your REALTOR®! - 02/09/08 10:38 PM
Early in my Real Estate Career I had a new client who was starting the process in buying a home. I advised him that he should use a lender that was with a name-brand bank; with a local office. I even gave him a short list of Lenders whom I had … (1 comments)
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lenders: The Rates are dropping the Rates are dropping! - 01/04/08 10:29 AM
Better to have Falling Mortgage Interest Rates than the sky - that's for sure!
I was just speaking with one of MY Preferred Lenders at Country Wide and she told me rates on many products have dropped again this morning.
Currently she was quoting 5.75% on a 30-Yr Fixed with No Points!
For those of … (5 comments)
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lenders: Mr Lender: I really don't want your Free Lunch - 12/26/07 08:06 AM
Mr Lender: I really don't want your Free Lunch - Honest I don't.
About twice a month, I receive an email or phone call from a new Lender. They always tell me how they heard how wonder I was or saw my great website, etc, etc, etc. (Thanks for stroking my ego … (11 comments)
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lenders: Should I refinance now? - 12/20/07 08:26 PM
Should I refinance now? Is a question that many Home Owners are asking themselves. Especially those with ARM's that will reset and head UP in the coming months.
Currently Mortgage rates have climbed for the past 2 weeks. This week the 30-year fixed averaged 6.14% an increase from last week when it was 6.11% average. This … (1 comments)
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lenders: In Escrow vs. Escrow Account ... - 12/02/07 10:40 PM
With my recent posts about "Escrow Accounts" some folks have emailed me questions about what "Escrow" really means.
I want to clear up a few points....
What is "Escrow" or "Being in Escrow" compared to an "Escrow Account" ??
In different parts of the country we have different words, language or terms for the … (0 comments)
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lenders: Escrow Anaylsis - 11/28/07 11:36 AM
If you do not what an Escrow Account is then read my Post : What is an Escrow Account?
What is an Escrow Analysis? Your lender (or the company who services your escrow account), will run a report generally every 12 months. The purpose is to compare the amount of money being put INTO … (1 comments)
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lenders: What IS an Escrow Account? - 11/24/07 09:52 PM
Well by definition: it is A trust account held in the borrower's name to pay obligations such as property taxes, home owners insurance premiums and flood insurance (if required).
Do lenders require it?
Many do yes and for good reason. If your home is destroyed by a fire, the lender will have lost … (4 comments)
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lenders: How much does that Interest Rate drop save me? - 09/18/07 11:04 PM
I remember last spring when I had a buyer that had waited just over a year to buy his home. He had been pre-approved and ready to go; but then stories of the "BUBBLE" scared him away.
He felt that the market outlook in Northern Virginia looked better; so he was ready to buy. What … (5 comments)
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lenders: Interest Rates Update... - 09/08/07 03:25 PM
When talking about Interest Rates; BAD News is GOOD News.
HUH? Basically when the economy gets bad news - Interest Rates tend to decline. When the economy get good news - rates generally climb.
This week the August job report came out and showed a 4,000 job loss. The Dow Jones dropped 250 … (1 comments)
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lenders: More Mortgage Company Woes.... - 08/16/07 10:48 AM
It seems as of late; everyday I hear about more "gloom and doom" for the mortgage industry. Today stories about Countrywide having issues is driving the stock market down further.
I hear lenders and brokers say "Don't worry we are fine"; "We can still write loans"; "We are just reorganizing". While … (7 comments)
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lenders: Points, Origination Fees and Service - Getting a good deal - 08/15/07 08:39 AM
An often discussed topic with my clients (and my colleagues clients). I want to address this.
Everyone wants a deal. Buying a home is a huge investment and having a payment that fits your budget is essential. No one wants to be house poor.
So then, you should shop around and get the … (3 comments)
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lenders: Changes in the Mortgage Business : Choose a Mortgage - The Right One - 08/14/07 12:07 PM
So many types of mortgages - which is the best one?
Well there is no such thing as the "the best one" - The question is "Which is the RIGHT one for you in your current circumstances?"
This post could go on for pages. Lenders have so many programs out there, but let me just hit on … (1 comments)
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