ARCHIVED BLOG POSTS
2010
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I started a Reverse Mortgage a while ago for a client who is 92 years old and his property is in Trust. No problem. I have done lots of loans where the property is in Trust. Got to the end of the Transaction and the bank called and told us that they could not do the loan the way the Trust was cur...
07/14/2010
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I am going to tease a bit because if you want to find out the number one sales tip of all time you have to watch the video...... http://www.youtube.com/salesmagicsuccess#p/u/9/467ZwqYKkiM Someone will watch it and implement it and double their income ! That's good and makes me happy.
07/14/2010
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Join a Winning Mortgage Team Beginning January 2011 all loan officers who are doing loans under the Department of Real Estate must become MLO- Mortgage Loan Originators and work with a company that chooses to be a loan broker. Many have opted to not continue with loans. Mortgage Magic has been a...
07/14/2010
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Reverse Mortgages can make a lot of sense for the right borrower. The conditions are simple- be 62 years old and have equity in your home. There are Reverse Mortgage Calculators (go to AARP) that let you know immediately how much a person qualifies for based on the equity. All you need to enter i...
07/14/2010
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These words, "I'm a businessman. I have to be upbeat" are the last words in an article printed in the New York Times by David Streitfeld, Biggest Defaulters on Mortgages Are the Rich. The article caught my attention because of the title, because of the location that is written about (Los Altos) a...
07/13/2010
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FHA down payment still only 3.5% and it can be gift. The closing costs can also be paid by the seller up to 6% of the closing costs. Credit scores still low at 620 and the debt ratio is very reasonable at 46/56.. The Rates are low. Prices are low. FHA only requires 3.5% down..It IS the time to bu...
07/13/2010
Mortgage Magic has had the Mortgage Magic TV show for 5 years and during that time we have had dozens of Realtor guests and even mortgage broker guests appear on the show. Even though the mortgage broker is a competitor or ours we appreciate good people who do a good job and are good for the indu...
07/13/2010
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Yes...I write the FHA purchase money loans. Of all the loans I do I really do like the first time home buyers and those who have a little bit of a challenge to get into the home. I am good at explaining all the questions the client SHOULD have- most times they don't know what to ask. So, I make s...
07/10/2010
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WOW ! This trick is called WOW and with good reason. Take a 3 minute break away from the business and worries of the world and enjoy my latest YouTube posting. I encourage you to get your business all over YouTibe- it really has brought a lot of business my way this past year ! Here is the trick ...
07/09/2010
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Took my MLO National Exam this week and passed (very high score !) but it hit me that the loan industry is filled with initials. Here are just a few from the exam....HVCC, SAFE Act, HOEPA, ECOA, TILA, RESPA, HMDA, FCRA, FTC, HPA, FFIEC, PMI, CRA, FACTA, GLB, MMI, APR, GFE,USDA, MDIA, DNC, FRB, FH...
07/09/2010
Rainmaker
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Doug Jones
Mortgage Broker - NMLS 286668