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mortgage cary: Use What You Learned on 9/11 To Help Today! - 10/10/08 07:31 AM
"Macy's says that the Consumer might be having some hard times."
That could be the "No Duh" quote for the day. There are TONS of people who are frightened by what's going on in the Global Economy. There are people in their 70s and 80s who are on fixed income who have truly had their worlds rocked... and their children might be some of the folks who have been laid off, lost their homes, or at the very least had their own 401K close to being wiped out.
Now is the time to remember the lessons of 9/11. On 9/11 we knew … (14 comments)
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mortgage cary: A Year Later - How ActiveRain Changed My Life - 10/07/08 07:54 AM
Last weekend marked my one year anniversary on Activerain. I can honestly say...it's changed my life, and the way I look at things. It's affected my confidence, and my "self talk." I was introduced to it during an all day conference last September on "Using the Internet to Market Your Business."
I've always been skeptical about marketing plans that did not start with "networking," and up until then, I thought that meant looking someone in the eye. In our industry, tons of people make money by dialing for dollars or sending out postcards to people they've never met - but that's not the way I built my business...So … (30 comments)
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mortgage cary: Newest Trend in $$ - Peer to Peer - 09/11/08 10:35 AM
Perhaps you've heard of Sir. Richard Branson's most recent venture, Virgin Money. It's a concept my grandfather employed in the 1960' and 1970's when he owner financed homes that he owned for employees. Virgin says:
"A Family Mortgage is a private loan from someone you know that is typically used toward the purchase of a home, or to refinance an existing bank mortgage. Imagine: Aunt Sarah as your mortgage lender!"
There's another Social Lending Company that might offer help for folks who are trying to scrape up the cash for a purchase, or need help getting on with life via a … (7 comments)
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mortgage cary: Pay Off Credit Card Debt Now... - 09/05/08 10:48 AM
Have you looked at the balances on your credit card statements lately? Seriously? OMG!
Everybody I know has been "living" off of credit cards! How expensive is that? Well - If you have a $2000 balance on a credit card with an 18% APR it could take you 24 YEARS to pay it off if you simply pay the minimum balance!
If you've purchased a home in the Triangle during the last 24 months - and the value is less than $300,000 - you might qualify for a cash out FHA loan.
We are refinancing a single mom today who purchased a … (6 comments)
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mortgage cary: Rule Of Thumb Says 3 Times Income - 06/25/08 05:04 PM
I grew up in this business, so I've had a lot of "rule of thumb" stuff I've squirreled away in the back of mind. One of my "old reliables" says that a borrower normally qualifies for 3 times their gross income.
When Lenn Harley issued a Challenge to Loan Officers to see if the average buyer in Fairfax, Virginia could qualify for the average detached home - I was skeptical. The average income is $123,000 and the average sales price is $605,511. Three times the income means the borrower is looking for a loan of $369,000 - significantly below the 95% … (7 comments)
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mortgage cary: Does Your MLS Do This? - 06/24/08 12:13 AM
Do your customers currently compare the energy bills of potential homes? If so - then this might be interesting to you!
We were fortunate to have Dan McFarland, Southern Energy Management in our office today to discuss "HBA Green Built" certifications and "Energy Star" certifications - and specifically how those ratings relate to the cost of home building and home ownership.
In the conversation, he explained that "Home Heating Bills could be lowered by at least $500 annually" with an Energy Star home (as compared to a "regular" home), and that our local power company gives an additional 5% discount on utilites to … (26 comments)
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mortgage cary: 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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mortgage cary: Getting Ahead In A Difficult Profession - 01/02/08 04:29 PM
I love to pass along stories - here's another of my favorites...
Dante Gabriel Rossetti, the famous 19th century pet and artist, was once approached by an elderly man. The fellow had oms sketches and drawings that he wanted Rossetti to look at and tell him if they were any good, or if they, at least, showed potential talent.
Rossetti looked them over carefully. After the first few he knew that they were worthless, showing not the least sign of artistic talent. But Rossetti was a kind man and he told the elderly man as gently as possible that the pictures were without … (6 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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