mortgage: First Time Homebuyers - Don't Just Check On The Rate! - 09/14/09 04:30 PM
There are tons of first time homebuyers out there negotiating the best deal on their new home, and now it's time to get a mortgage.
Most of them only know how to ask one question: What's the Rate?
We've been in the mortgage business for over 20 years - and … (27 comments)
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mortgage: Why Recommending A DIRECT LENDER Could Make You Choke on Your Coffee - 08/21/09 06:17 PM
This is an excellent point of view regarding the differences in the types of mortgage shops you have available to them. I work for a mortgage banker that also brokers loans. You will get the BEST rates by working with someone who can shop for you!
Via Janet Guilbault California … (2 comments)
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mortgage: Why Won't Rates Get BELOW 5% and STAY there? - 08/04/09 11:07 AM
So many people are waiting for mortgage interest rates to get below 5% - and then they will Refinance -
Or THEN they will purchase...
Well, with rates in the LOW 5's... NOW might be the time to act!
The thing that keeps rates ABOVE the 5% rate is simple... there are indications … (2 comments)
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mortgage: FHA Downpayment Guidelines for NC - You might be Surprised! - 07/20/09 05:13 PM
Are you a First Time Homebuyer, dreaming of the day when you can sit among your boxes, in your new home?
HUNDREDS of first time homebuyers in Cary, Apex, Holly Springs are doing just that, and taking advantage of the now "famous" $8000 Tax Credit made available from President Obama and … (2 comments)
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mortgage: USDA Home Loan Underwriting Updates - 07/15/09 09:54 AM
USDA is quickly becoming one of the Country's most popular mortgage loan programs, and with that, the USDA Rural Development Offices are getting backlogged!
USDA Home Loans are 100% (plus) mortgages - for more information about the program click here.
Because of this increase in volume, there have been several recent AN … (3 comments)
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mortgage: USDA Mortgages and Risk Based Pricing - 07/08/09 03:37 PM
Risk Based Pricing is a term now used by mortgage lenders to refer to how mortgage loans are Priced.
A mortgage with a higher risk to the bank has a higher price, or interest rate. A loan with a lower risk of default for the back, has a better price / … (2 comments)
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mortgage: Hey Joe! Lower Rates Might Help! - 07/06/09 07:58 AM
"We misread how bad the economy was"This is the comment made by VP Biden this weekend as he tried to explain why the administration first declared that unemployment would go to around 8% this year and last week we saw much higher numbers... and many folks are saying that the unemployment … (7 comments)
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mortgage: Important Changes for Purchase Contracts - 06/26/09 01:18 PM
At the end of July, 2009 the Government will be IMPROVING the way consumer's receive documentation and disclosures for their mortgage loan... and in the short run, while everyone is getting use to it...it's not going to be pretty!MDIA is the new Mortgage Disclosure Improvement Act, and here's what it … (12 comments)
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mortgage: It's EASIER To Qualify For a USDA Mortgage Today! 5/1/09 - 05/01/09 09:32 AM
USDA Home Loans have "special" qualifying guidelines that prohibit folks from purchasing if you make "too much" money!
In the past, that means that if you make more than the median income for your area - you might not qualify... but some recent "tweaks" to the system will allow more folks … (9 comments)
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mortgage: Do I really need a home inspection? - 03/20/09 10:54 AM
Mortgage Companies do not require a home inspection - but we definately feel they are important! This is great information for all!
Via Lee & Pamela St. Peter Your Raleigh NC Realtors ~ GRI, CRS, ABR (Prudential York Simpson Underwood Realty):
Why do I need to get an Inspection...
So … (6 comments)
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mortgage: New Opportunity for Investors? - 03/16/09 02:16 PM
The Obama administration is due to release details for the "Troubled Assets" on the Bank's books later this week. Those would be the "Mortgage Loans" that went on the bank books in 2006 before all of this mess happened.
It appears to me that the plan fall along the lines of … (9 comments)
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mortgage: First Time Homebuyers! Get Your $8000 Piece of the Bailout! - 03/03/09 10:10 AM
There is a silver lining to all of this Bailout Business (thank goodness!) and it applies all First Time Homebuyers! In the recent stimulus package, Congress, and President Obama wrote in a $8000 Tax Credit for First Time Homebuyer's who purchase a home between January 1, 2009 and December 1, 2009 (that's … (22 comments)
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mortgage: Contractors and FHA 203K Loans in NC - 03/02/09 01:14 PM
FHA offers a great mortgage program for folks who want to make improvements to their home (through a refinance) or those who are purchasing a home that needs some "TLC!" The program's official name is 203k.
If you are not familiar with the loan, you can find basic program details, like … (12 comments)
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mortgage: The Humor in Lending! - 02/23/09 11:05 AM
This is really funny! The bank's have simply been too compassionate! Ha!
Via Ruthmarie Hicks (Keller Williams Realty):
My last entry was about a great Frontline feature about the banking meltdown. It was a serious program, but worth the time and effort. This is just for fun. There is a great deal of … (0 comments)
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mortgage: Why Credit Scores are Getting Tighter in NC - 02/23/09 10:33 AM
Since the beginning of the year, subtle but significant changes made their way into the underwriting guidelines in NC, and credit score requirements have been changing! As we are all learning, each market seems to be somewhat "dis jointed" when it comes to home values, and jobs - therefore we've seen … (2 comments)
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mortgage: Credit Boo-Boo's - 02/16/09 09:30 AM
This is a repost from last year....
Does your credit look like a train wreck? I've talked to several clients recently who hit a rough spot - and are working their way out. They had some questions I thought other people might need answered too!
How long does negative information … (3 comments)
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mortgage: FICO No Longer Available to Consumers - 02/05/09 02:37 PM
Yesterday, Experian and Fair Isaac decided to end their relationship... and the result will be that in a few weeks, Consumers will no longer have access to their FICO scores.
"Currently, myFICO.com is the only place you can purchase your FICO scores based on your three credit reports
from Equifax, … (9 comments)
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mortgage: Does a 4.5% Mortgage Mean You Can Buy A Bigger House? - 01/21/09 11:45 AM
There are TONS of statistics that point to THIS being the right time to purchase a home... but maybe you haven't looked at how LOWER mortgage rates relate to homes? For instance, this is a beautiful "used" home in Garner, NC... The sales price is $259,900. To keep things easy - … (12 comments)
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mortgage: What I'm Reading About today.... - 01/19/09 03:18 PM
Paul Krugman says be SKEPTICAL of the new ideas regarding Troubled Assets (mortgages)!!
I read this about house prices, and didn't get it...
until I watched the video and looked up ROFLOL (Rolling on the Floor Laughing Out Loud).
House prices, in some areas, still have quite a ways to … (8 comments)
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mortgage: What Obama Needs To Do To Fix The Economy - OPINIONS - 01/13/09 09:55 AM
Obama recently said he wanted to hear the ideas "out there" for a better stimulus package. Paul Krugman, who recently won a Noble Prize for his Economic Genius, has some ideas... and he recently shared those with Rolling Stones!
In his post, Krugman notes... "One more thing: even with the Obama … (11 comments)
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