Doug Jones's (dougj) Blog

Mortgage and Lending - Mortgage Magic



I have many clients who are doing what they can to raise their credit score so that they qualify for a purchase money loan. I am surprised many times when I see a lower score with  perhaps only one minor derogatory account.  In that case the only way to raise the score is to let time pass. Yester...
I teach a class called Mental Magic and a sales class called Sales Magic. In the past I qualified to teach the class because I had enjoyed quite a measure of success; opened a company that funded more than a billion dollars in loans in one year from $600, had a local TV show, interviewed by media...
I find the title to this blog interesting and at the same time disturbing. I also find it to be true. When loans were fast and furious, a prospect (really a suspect) would call and inquire about the rate. Of course that is like calling a mechanic and asking, "What will you charge me to fix my car...
I brokered a loan to the same bank that holds the current mortgage for my client. The bank called and said "It is a good loan but does not pass the benefits test"    ???????  The bank is judging whether the client should refinance or not. The client is lowering his mortgage payment by $150 from t...
Mortgage Magic was built on the concept of service, One of the things I do to serve the community is free magic shows. I am a member of the International Brotherhood of Magicians, the Society of American Magicians and the Fellowship of Christian Magicians. Last month I did magic shows for Free fo...
I began to write FHA loans just over a year ago and am probably close to saying good buy to this lovely little loan. Why? Maybe in San Jose it is just the luck of the draw. But the past two months the profile of my FHA customer has diminished greatly. Many of the clients have serious credit probl...
Recently a client of mine purchased a townhouse in Switzerland. You will not believe how easy the purchase was compared to a purchase in the states (at least California). The client lives in California and is originally from Switzerland. He found the town house  on line and emailed the seller. He...

Doug Jones

Mortgage Broker - NMLS 286668
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