mortgage application: Is it Worth it? A Reflection on the Current Mortgage Process - 05/10/13 10:14 AM
 
Is it Worth it? A Reflection on the Current Mortgage Process  
     The current mortgage process has a bad reputation ... let's face it.  You can't listen to newscasts or read the papers without seeing or hearing stories conveying that perception.        Although I understand that today's mortgage process is far more detailed than it was previously (and yes, sometimes even borders on silly), I think in many cases the current mortgage process is getting a bad rap.  And bad news makes for good copy and good ratings ...
     A recent call from clients of … (27 comments)

mortgage application: "Mortgage Anatomy 101" ... the Current Mortgage Process, Part 2" - 03/26/13 03:34 PM
 
"Mortgage Anatomy 101" ... the Current Mortgage Process, Part 2"      In Part 1 of the post, "Mortgage Anatomy 101" ... the Current Mortgage Process" ... I detailed much of what happens in the initial portion of your mortgage process.      In Part 2, I will continue to dig deeper into the mortgage
process and touch upon your mortgage file's submission into  Underwriting, the Underwriting itself, and then Loan Approval.      At this portion of the mortgage process, your  Loan Officer  and Loan Processor have reviewed your file and agreed that it is ready for submission into Underwriting.  All … (9 comments)

mortgage application: Hansel and Gretel were the original participants of "Survivor" - 12/28/12 02:49 PM
 
Hansel and Gretel were the original participants of "Survivor"  
     It's not one of the most often-heard fairy tales.  I think because it's rather "dark" in nature.  But the old  Brothers Grimm  fairy tale of "Hansel and Gretel"  contains some good lessons regarding survival within it.  Lessons I think, that when applied, can help new Home Buyers (and those Refinancing) to survive and thrive during their mortgage processing.
    "Hansel and Gretel" were the original participants of "Survivor", in my opinion.  For those that might not know the story of "Hansel and Gretel", there's a portion of … (39 comments)

mortgage application: What to Expect When You Apply for Mortgage Financing - 05/31/12 08:46 PM
 
 
What to Expect When You
Apply for Mortgage Financing
 
 
 
    So you've heard that applying for mortgages ... and mortgage processing itself ... is a pain in the tush, huh?
 
      I cannot lie to you.  It can be ...           But I think that stories, heard over and over again, contribute to perpetuating some of those problems. I believe that what an applicant hears (and thinks) prior to mortgage application, can influence what ends-up happening during their mortgage processing.          How's that, you say?  Let me explain ...   … (22 comments)

mortgage application: Being Mentally Prepared to Apply for Your Chicagoland Mortgage is Just as Important as Being Financially Prepared ... A Lesson From the 3 Stooges - 12/16/11 12:22 PM
Being Mentally Prepared to Apply for Your Chicagoland Mortgage is Just as Important as Being Financially Prepared ... A Lesson From the 3 Stooges               For good or bad, my wife and I are fans of the 3 Stooges.  Having grown-up in a family of all boys that were faithful viewers, thankfully I married a woman that "gets" the humor of this comedic trio.  (Thank you to my brothers-in-law for helping to raise her right.)       On a Saturday evening when Marilyn and I are home rewinding from the previous week, we typically find the Stooges … (9 comments)

mortgage application: I'm Flaming Red! Have you seen the new Google service being launched in regards to seeking a mortgage? - 05/23/11 02:22 PM
    
     I sincerely thought about doing this entire post in FLAMING RED.  That's how frustrated ... how upset I was ... how close to flames ... after reading and viewing a video about a new Google service being launched regarding mortgage and financial services.    
     Attached you will find that link to the video I speak of.  As a mortgage lender, this new service they are promoting to potential home buyers alarms me greatly.  It totally undercuts the important messages that I am personally trying to get across to my clients and potential clients.
     In this day and age ... after … (96 comments)

mortgage application: Be Prepared for Mortgage Application .. Start Gathering These Documents NOW - 09/19/10 05:38 PM
 
Be Prepared for Mortgage Application .. Start Gathering These Documents NOW
 
 

     
     Thinking about Buying a Home or Refinancing soon? 
       Read on and be better prepared when applying for your new Mortgage ...
 
 
    
     The news and blogs are currently filled with stories regarding the huge and sometimes overwhelming demand for documentation during the mortgage lending process.  Much is presently being made of the number and kind of requests being made for proof of finances, payments, credit, and more by lenders and their underwriters during the processing of loans.
     I personally don't … (36 comments)

mortgage application: Credit Scores Down! Will Prospective Buyers Be Denied? - 04/22/10 06:49 PM
 
     I have been in contact and working with a prospective client for well over a year while he and his wife were tackling some credit issues.  This couple took it upon themselves to gear-up their home search once again and have actually found a property they are interested in purchasing.  After being in the works for so long a time, I obviously had to run an updated credit report to start the purchase process again.
     To my surprise ... because I had been assured that the correct measures were being taken to improve scores ... the new credit scores came in lower.  A monthly mortgage payment … (18 comments)

 

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