Greg 's Blog - Archives September, 2007

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Government approves FHA Bail out for Subprime ARM morgage holders - 09/21/07 09:57 PM

Looks like relief has arrived for many subprime ARM mortgage holders! Here are some details and remember FHA remains a full doc loan program. See my seperate blog on FHA lending guidelines.
Greg Zaccagni @ http://www.mortgageadvisor.info
September 5, 2007
SUBJECT: The FHASecure Initiative and Guidance on Appraisal Practices in Declining Markets … (4 comments)

Subprime Mortgages Defined - 09/16/07 08:58 AM

We hear the term nearly every day. What does "subprime" really mean? Greg Z @ http://www.mortgageadvisor.info/ Subprime mortgages As with subprime lending in general, subprime mortgages are usually defined by the type of consumer to which they are made available. According to the U.S. Department of Treasury guidelines issued in 2001, … (0 comments)

What's Your Rate? - 09/13/07 07:26 AM

With all mortgage ads it's easy to see why some think mortgage rates are an off the shelf item. Truth is they are more like life & health insurance quotes - subject to your personal situation.
Just as an insurance agents ask height, weight, family health history etc... a meaningful mortgage rate requires its … (5 comments)

Financing home repairs & improvements - 09/08/07 10:18 PM

financing unexpected & planned home improvements
Bad News:
Unsecured lines of credit are really glorified credit cards without tax deductible interest. Non-deductible interest for homeowners is like throwing money away unless you're able to pay it off in short order or plan to default on the loans.
Liquidating interest bearing accounts like savings, CD's, … (2 comments)

Do credit pulls affect my FICO score? - 09/03/07 07:37 AM

Mortgage lenders are asked this question all the time. I send inquiries directly to the source for an unbiased answer. According to the Fair Isaac Corporation (FICO) same "type" inquiries will be treated as a single credit pull as it is apparent you are shopping for one loan. Here is what … (3 comments)

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