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mortgage: Why do Mortgage Rates go up when Fed cuts the Rate? - 06/06/08 02:07 PM


When Fed cuts the rates my office is swamped with borrowers who are calling to see if they can get a better rate.  Many of them are surprised that Mortgage Rates went up instead of down.  Luckily, I always lock rates as soon as I can. To me as a mortgage professional, predicting the direction of the rates is not a game. Most mortgage professionals are not bond analysts. More importantly, I've been in the business long enough to see rates go up 6 times in 1 day by a total of 1.5%. 
                                        Let me shed some light … (2 comments)

mortgage: A Little Quiz for You? - 05/28/08 04:01 PM


 Here's a matching exercise to help you learn some mortgage terms:              
  


 
A.     Right of ownership and possession of a property.
B.     Document that transfers the title from the seller to the buyer.
C.     Fees charged at beginning of home-buying process, such as appraisal of the property.
D.     Money paid by buyer to seller at time an offer to purchase the home is presented.
E.     Professional estimate of what a home is worth, based on style, appearance, construction quality,              improvements, usefulness, and comparable value of nearby properties. 
F.     Principal, interest, taxes, and insurance-the 4 main parts … (1 comments)

mortgage: 4 ways to build wealth and financial security - 05/13/08 06:23 AM
I have recently followed up with my clients and I am so glad that I can use my knowledge to influence people's lives.
About 6-7 months ago a young couple came to my office with a lot of questions, concerns, and a clear sense of urgency. The owner of the house that they were renting advised them that he was going into Foreclosure and that they have 6-8 months to move out and find another place to live. It was a shock for a young couple because the house that they were renting was close to work, their kids had friends in the neighborhood … (0 comments)

mortgage: Protect yourself by Protecting your mortgage - 05/07/08 02:19 PM
Lately I've had a lot of people asking me about new mortgage protection life insurance and how it works.
Well, here it is in a nut shell:
Mortgage protection insurance is a type of life insurance that will pay off your mortgage in case of disability or death. Sounds pretty simple to understand right? However, there is a lot more to mortgage protection mortgage than just paying off the loan if you die. What if you life and are not able to work? What Happens then?
Statistically a lot of people lose their home not because the breadwinner dies but because he/she … (2 comments)

 

Dmitry Perlovich Wealth Building Coach

Palm Coast, FL

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Open Mortgage LLC

Office Phone: (386) 445-2775

Cell Phone: (386) 627-1348

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