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real estate financing: LoanZen.com-an interesting concept in loan comparison - 12/15/08 12:17 PM
I have come across an interesting website that has the purpose of letting consumers post annomous information about potential loans they are being offered to ask if it is a good deal. Real Estate mortgage information on the site is furnished by other consumers, including first time home buyers, with answers from other consumers, and in some cases by loan consultants. The site is very basic and doesn't have a lot of the bells and whistles that could be used on this type of site. For instance, it would be nice to have a way to contact a poster or responder, … (17 comments)
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real estate financing: Eugene Loan Guy website up and running - 12/12/08 03:30 PM
With the help of RandDArt.com, I have a new website up and running. The site is EugeneLoanGuy.com and I have great hopes of filling it with knowledge, commentary, reviews and real estate listings. I have a couple of posts up already on morgage business, but will be adding more on a daily basis. I invite all of your to visit my site and leave any recommendations as to what you might like to see on this site. It is going to be more region specific that what I have done on Active Rain. I will also be working with the other … (11 comments)
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real estate financing: Does anyone know what the VIX index is? - 10/08/08 04:30 PM
If you don't here it is: The VIX index, also called the fear index, is the market volatility index.
A reading of 20 or below is a very complacent market and things are in pretty good shape, overall. A reading of 30 is a very volatile market as a result of investor fear or uncertainty and there is cause of concern.
Today, the VIX index was at 59, an all time high. AN ALL TIME HIGH in the fear index. Damn!
Winston Churchill, one of my all time favorite inspirational speakers said at a commencement address, "Never give in...!" Unfortunately, I think … (18 comments)
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real estate financing: Paperwork, Green Loans & trust - 07/14/08 01:31 PM
Many years ago, if you borrowed money from someone, you shook hands on the transaction and that was often the extent of the deal. Then things started to change, not necessarily due to a lack of trust, but in many ways that was the final result.
I remember when I started in the mortgage business, back when we used stone instead of paper. Seriously, when I started, I was told that it would only be a few years before the whole process would be paperless. That was a couple of decades ago, so a few years have stretched to a … (6 comments)
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real estate financing: FHA Facts - Mixed use commercial - 07/02/08 03:57 PM
FHA Facts:
Did you know?
A 203(k) mortgage may be originated on a "mixed use" property provided: (1) The property has no greater than 25 percent (for a one story building); 33 percent (for a three story building); and 49 percent (for a two story building) of its floor area used for commercial (storefront) purposes; and (2) the commercial use will not affect the health and safety of the occupants of the residential property; and (3) the rehabilitation funds will only be used for the residential functions of the dwelling and areas used to access the residential part of the property. … (4 comments)
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real estate financing: FHA 203k Streamline - 06/30/08 12:59 PM
FHA offers a Streamline 203k program that allows a homebuyer/owner to finance up to $35,000 of home repairs in the purchase or refinance of a home. This is an excellent program because it doesn't have the same review requirements of a complete rehab loan. I would be surprised if you could make the necessary repairs to this home with $35,000. Would probably take a few hundred more.Following is the "Mortgagee Letter" from HUD.Call me for explanations.MORTGAGEE LETTER 2005-50December 29, 2005TO: ALL APPROVED MORTGAGEESALL APPROVED APPRAISERSSUBJECT: Enhancements to "Streamlined (k)" Limited Repair ProgramMortgagee Letter 2005-19 (ML 05-19) announced the Streamlined (k) … (33 comments)
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Fred Chamberlin - Oak Harbor/Whidbey's #1 Experienced FHA Mortgage Consultant
Oak Harbor,
WA
More about me…
Guild Mortgage Co - Oak Harbor WA
Address: 32785 State Route 20, Suite 5, oak Harbor, wa, 98277
Office Phone: (360) 675-6106
Cell Phone: (541) 221-3455
Email Me
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