ARCHIVED BLOG POSTS
2013
What is the best way to shop for a mortgage loan? I think the best answer is find someone you like and trust and deal with that person. Mortgage loans can be confusing. They should be simple and straight forward but the industry and regulators have developed so many forms that anyone can get con...
08/30/2013
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Today the National Mortgage News reported that " FHFA has been analyzing approaches for reducing Fannie Mae and Freddie Mac loan limits across the country, and any such change would be announced with adequate advance notice for implementation on Jan. 1, 2014,” a FHFA spokesman said. The maximum ...
08/30/2013
Build a better mousetrap, and the world will beat a path to your door is a phrase attributed to Ralph Waldo Emerson in the late nineteenth century The phrase is actually a misquotation of the statement. "If a man can write a better book, preach a better sermon, or make a better mousetrap, than h...
08/29/2013
The NSA has been in the news for months and we learn more and more every day about how they spy on Americans and how the information may be used. Do you know that the credit bureaus also know all your credit information and sell that information? I don't mean they sell it to the banks or credit...
08/26/2013
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A young lady came to see me to see if I could help her with some past due credit card payments. I had done mortgages for her in the past and knew when I did the loan that her debt ratio was right at the limit. She printed out a spread sheet that showed a balance of just over $20,000 in credit car...
08/25/2013
This is something a financial planner told me about and it can be very valuable. My wife and I are the same age and we will use this benefit next April 2014. The information below came from www.socialsecuritychoices.com A strategy that many married couples will find valuable is "file and suspen...
08/24/2013
This week I saw three young people interviewed on TV about their lack of success in finding a job after college. One is a law school graduate who has passed the Bar, one has her MBA and I don't remember the degree earned by the third person. The TV station has a political slant and it seems th...
08/23/2013
Last week a Realtor became upset with me because I could not approve a loan where the customer had an 800 credit score, a 20% down payment, and a low debt ratio. The customer is a U.S. citizen but works in India for an American Company and spends a lot of time in the U.S. on work assignments. H...
08/23/2013
When you purchase a new home expect a lot of mail solicitation. Some things you may want to consider and others not. In California I really recommend that you place the home in trust and encourage you to read my blog regarding trust. http://activerain.com/blogsview/3605184/california-if-you-own-a...
08/20/2013
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I grew up as a Lender. I really grew up as a lender because I have been working in Loans since I was 20 years old. The loans I did were very small personal loans but the basics are the same for all loans: credit, income to outgo ratio and collateral. Everything that was written on the loan applic...
08/14/2013
Rainmaker
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376,831
Doug Jones
Mortgage Broker - NMLS 286668