Dora Griffin's Blog

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Mortgage and Lending - D A Griffin Financial.LLC - NMLS 6380

ARCHIVED BLOG POSTS

2011 

SHOULD FHA INCREASE MINIMUM DOWN PAYMENT? There is a plan being floated in the senate to increase the down payment for FHA loans to a minimum 5%. The concern is that the FHA's reserves have gotten dangerously low following the wave of foreclosures at the height of the housing crisis FHA has under...
05/31/2011
I LOST A LOAN AND I DON'T CARE WELL, I really DO care!  But, I'm not going to let it ruin my life. If I've learned anything in my years of originating loans it is that there will be another deal. I usually look back to see what caused the loss, (there are a ton of reasons these days). That can be...
05/27/2011
DO I REALLY NEED TITLE INSURANCE? I'll make this short and sweet! When you purchase a home you often will buy a title insurance policy that covers the lender's interest in the home. WHAT IS TITLE INSURANCE? Title insurance is a one time expense when a home is purchased that covers the parties for...
05/24/2011
REAL ESTATE ONE STOP SHOPPING - IS IT A GOOD IDEA?   AM I SAVING MONEY, TIME, AGGRAVATION? WHY WOULD I ONE STOP SHOP FOR REAL ESTATE NEEDS? Real estate companies are getting more and more involved these days in all aspects of a home purchase. Many of them offer not only a Realtor to help you with...
05/24/2011
BUILDER SAYS BUYER MUST GET APPROVED BY THEIR LENDER EVERY TIME I SEE THIS IN A CONTRACT I SEETHE.  Often when I see this it is because the builder OWNS or is OWNED by the same principals as the lender.  When I'm working with a repeat borrower and a Realtor I've known for many years and the borro...
05/23/2011
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KNOW BEFORE YOU OWE The consumer finance agency is proposing two new forms for evaluation - KNOW BEFORE YOU OWE - they want to clarify certain aspects of a loan. Combining a good faith estimate and a truth in lending form they think will bring clarity to the loan process. Consumers should always ...
05/20/2011
GET YOUR OWN REAL ESTATE AGENT! PLEASE, PLEASE, PLEASE, GET YOUR OWN AGENT IF YOU ARE LOOKING TO BUY A HOME!    DO YOU WANT TO BE SMILING WHEN THE PROCESS IS OVER? NOTHING WILL GUARANTEE THAT EVERYTHING WILL BE PEACHY, BUT THERE ARE A FEW THINGS YOU CAN DO THAT WILL HELP ENSURE A SMOOTHER CLOSING...
05/18/2011
WHAT IS THIS REALTOR PROCESSING FEE? I am about to begin work on a home purchase and the borrower tells me there is a "Realtor processing fee" for the real estate company. I've run into this a time or two, but what is it for? Real estate companies charge a commission that comes from the seller's ...
05/16/2011
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SHOULD I COSIGN? THIS BLOG HAS A LOT OF POSSIBLE CAPTIONS - I COSIGNED, NOW WHAT? I COSIGNED, NOW MY CREDIT IS RUINED! I COSIGNED, NOW I CAN'T BUY ANYTHING. I COSIGNED, NOW I HAVE TO PAY.        DON'T LET COSIGNING DEBT RUIN YOUR LIFE! I see it all the time, someone innocently signs his/her name ...
05/13/2011
LENDERS MUST VERIFY BORROWER'S ABILITY TO REPAY - REALLY??? It seems housing recovery just can't get a break. There is a constant flow of new rules and regulations to  "protect the consumer" increasing costs and reducing qualified borrowers.  The Dodd-Frank duo are busy at work writing rules for ...
05/11/2011
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Dora Griffin

NMLS 6380
local_phone(859) 442-9700
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