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home loans: FHA Mortgage Program is AWFUL! - 10/20/08 03:11 PM
Use to be, I could get all the business I wanted just concentrating on my referral partners in Cary. With business such as it is, I now find myself heading further out to hook up with borrowers and referral partners. I've been listening to CNBC as the market works it's way up and down.
Maybe you've listened to XM too and heard the fella' who says, "It's the Biggest No Brainer In the History of Earth!"
The guy on XM now has a newer ad out about the Mortgage Bailout Bill. Click here and see if you think he might be … (17 comments)
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home loans: Latest And Greatest Underwriting Changes for October, 2008 - 10/03/08 12:37 PM
We could think of this as the latest effort to make Main Street feel more comfortable about the "assets" we are holding in Fannie and Freddie (and I guess that extra 700 Billion too)... but anyway you look at it, mortgage lending rules are getting tighter. See that guy balancing on one foot, on a tightrope while playing the fiddle at night? He's got it E-A-S-Y!
Effective October 10, 2008 Mortgage Insurance on Investment Property is no longer available. Period, End of Story - better have 25% to put down.
MI Companies are also tightening the Debt to Income (DTI)requirements - meaning that … (6 comments)
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home loans: Bailout Part Deuce - 09/30/08 09:51 AM
I'm with most folks. I know that we probably need the Bailout - but I don't want it. The markets are going to be better today - because it's the end of the quarter and there are somethings that have to happen, and those events will cause a temporary improvement - but tomorrow it's going to be back downhill.
I was listening to various Congress "persons" and found myself nodding my head when several said, "Paulson had a YEAR to bring this information to us!" Yep... and then I read the following in Inman News and found myself nodding again. Sorry, Pres, … (4 comments)
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home loans: Buying A Home While Self Employed in NC - 07/16/08 04:15 PM
Are you a professional fisherman - or are you just "fishin'" for sales? Either way, if you are self-employed and you want a new home in North Carolina there's some important steps you need to take! North Carolina has been the LEADER in creating Preditory Lending laws that help insure "unsavory" lending practices do not continue to add to the "credit crunching" mortgage meltdown. Unfortunately, that has a direct affect on the "ease" for a self employed borrower who needs a loan. Is it IMPOSSIBLE?? NO!
Get your credit checked. As an owner of a business, you already know how important it is … (6 comments)
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home loans: NAHB Looking For Grassroots Effort - 06/17/08 08:36 AM
The National Association of Homebuilders believes we need an Emergency Stimulus Bill... afterall, housing starts are at the lowest since 1991 (and as Tanta notes "completions followed starts off the cliff...).
The package, according to NAHB needs to include a "temporary tax credit for HomeBuyers," and, in thier Online Newsletter, they urge all members to contact their Representatives as part of a ground swell grassroots efforts. Apparently CTX has already sent 6000 letters!
"At the top of the list of provisions that are needed, he said, is a temporary home buyer tax credit to stimulate home buying and reduce excess inventory. To maximize … (3 comments)
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home loans: Magical Mortgage Programs - 05/28/08 02:42 PM
Our Mortgage Loan Programs...
are designed for REAL People...
Don't you hate reading those ads that say, "Good Credit, Slow Credit, No Credit, No Problem?" Are they kidding?! Yes!
If you have credit problems, it's a problem. It can be solved, but it takes the right credit advocacy program, the right loan officer and the right company...it's not magic.
HERE'S A CONCEPT! We are a 100% referral based company. If you get bad service you are not likely to refer your friends and family to us! We look for the best loan program, and the right credit solution, for your circumstances. The program … (4 comments)
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Eleanor Thorne 919-649-5057 Cary Mortgage Loans
Cary,
NC
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Steve Thorne NC Mortgage Experts
Address: 111 Corning Road, Suite 230, Cary, NC, 27518
Office Phone: (919) 649-5058
Cell Phone: (919) 649-5057
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