| |
mortgage loans: California's 2010 Tax Credit for New Home Owners Update 05/14/2010 - 05/14/10 02:39 PM
As of 05/13/2010 California has received 2,470 applications for the $10,000 tax credit for new home owners totaling $13,283,000. So it's not too late to get your application in. Remember submitting an application does not guarantee you'll get the tax credit.
For more information e-mail or call me today:
E-Mail: e...@e....com
… (0 comments)
|
mortgage loans: Some People Take the Cake - An honest to goodness phone call - 04/29/07 03:08 AM
I'm sitting here minding my own business when the phone rings, Sally Shopper is on the other end. Sally want's to refinance her current 30 year fixed 5% mortgage to take out $100,000 to purchase an investment property.
Sally would like to remain at a 5% fixed rate and not pay any points, and also purchase her investment property with the same 5% fixed rate. After asking all the obligatory questions, I get around to qouting Sally rates.
Sally: Ed I know there are 5% 30 year fixed loans available because I have one, are they just all sold out?Me: No, Sally they're … (86 comments)
|
mortgage loans: Predatory Lending Schemes - 02/19/07 01:29 PM
By: Ed BrophySynergy MortgageFebruary 19, 2007
Before purchasing a home, research information about the prices of homes in the neighborhood.
Shop for a lender and compare costs. Beware of lenders who tell you that they are your only chance of getting a loan or owning your own home.
Beware of "No Money Down" loans. This is a gimmick used to entice consumers to purchase property that they likely cannot afford or are not qualified to purchase. Beware of the mortgage professional who falsely alters information to qualify the consumer for the loan.
Do not let anyone convince you to borrow more money … (4 comments)
|
mortgage loans: Mortgage Lender Files Chapter 11 - 02/06/07 07:06 PM
Another sub-prime lender bites the dust. With the instability of rates and the slow down in home sales it makes you wonder if we're headed for a late 80's early 90's market. I guess it all depends on which expert you listen too. Expert: "ex" as has been - "pert": a drop of water - "expert" a has been drop of water!
"Mortgage Lenders Network USA Inc. filed for Chapter 11 bankruptcy protection Monday, becoming one of the largest casualties among so-called sub-prime lenders as the U.S. housing market slows. The Middletown, Conn.-based company, which had been the 15th-largest U.S. sub-prime lender, … (3 comments)
|
mortgage loans: Don't Get Stuck in the Contingency Wasteland! - 01/19/07 01:26 PM
Mathew Ryan recently wrote Backup offer for more than original contract. In a nutshell he and his client accepted an offer with a 20 day finance contingency, and then received a backup offer for $11,000 higher. My 1st question is why one would accept a 20 day finance contingency in today's day and age of almost automatic approvals.
When I worked as a Realtor (Listing Agent) I always required a potential Buyer to be pre-approved with the Mortgage Broker I had developed a strong relationship with. I'm not saying we required the Buyer to use our Mortgage Broker, what I'm saying … (7 comments)
|
mortgage loans: Why Loan Officers Shouldn' t Work Sundays - 01/14/07 05:47 PM
I really have to stop making promises to clients and prospective clients that I'm always available by phone should they need to talk to me.
This morning the phone rings, on the other end is Nick. Nick wants a loan in the $200,000 to $1,000,000 range. Now that's a wide range for a loan and honestly I stuttered a little bit when he threw the loan range out. I'm thinking this guy is either not really picky on the type of house he wants or he has delusions of grandeur.
Once again I go through the obligatory questions that any good mortgage … (42 comments)
|
mortgage loans: To Pay or Not To Pay, Points That Is. - 01/05/07 02:45 PM
When shopping for a mortgage the first sentence out of the mouths of my clients is "I don't want to pay points!" Points are a dirty word in my business but, they're not the evil many people believe them to be, in fact they're no different than the commission you pay a Realtor to sell your home.
Loan Officers and Mortgage Brokers earn their income one of two ways; they either charge you one or two points up front or they earn their income from the lender in the from of a yield spread premium (YSP).
There are a number of … (0 comments)
|
|
|
|
|
|
Ed Brophy - REALTOR® - DRE #01344385
Palm Springs,
CA
More about me…
Ed Brophy, REALTOR®
Address: Rancho Mirage, CA, 92270
Office Phone: (760) 844-3736
Email Me
A place to learn about mortgages, interest rates, credit and ask the guestions you've been wondering about.
 Links
Archives
|
;)
;)
