arizona home loans: Short sale deals give no guarantees to anyone! - 09/24/09 02:34 PM
Normally, I would not be so negative about short sales, but I have experienced many problems in the last30 days with short sales that we do not encounter with bank forclosures.
Situation #1. Buyer,seller and lender all agree to short sale. The file is opened up, appraisal and inspections are ordered, … (6 comments)
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arizona home loans: Getting a mortgage loan in today’s market - 08/27/09 01:06 PM
I'll be honest; the entire process of purchasing a home is not fun. Having your teeth pulled by a dentist may be more comfortable than getting a mortgage approval these days. When I am asked about my system, I make it clear the more that is accomplished early on will make … (5 comments)
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arizona home loans: Battle of the Home Mortgage Products: FHA vs. Fannie Mae HomePath - 08/12/09 12:58 PM
Recently I have had several inquiries about a number of special loan programs available. The latest, attractive looking product in the market is the Fannie Mae HomePath loan. Depending on your individual needs, this product could be the right fit. However, compared to FHA, the HomePath loan does have some drawbacks.
… (3 comments)
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arizona home loans: Mortgage Loan Modifications: Is This Web 2.0 for the Mortgage Loan Originator? - 10/17/08 05:19 PM
I just got off of a webinar training on Mortgage Coach about Mortgage Loan Modifications. What was so fascinating about the training beyond the sales pitch was the idea of another way for mortgage originators to help distressed homeowners in this time to need.
Arizona is one of states that has been … (18 comments)
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arizona home loans: Mortgage Options for Divesting Real Estate Assets after a Divorce - 10/14/08 05:17 PM
So the decision has been made and divorce proceedings have been started. For many couples who go thru this chapter in their life are really not sure where they stand in terms of being able to keep the home. Some couples just want to sell and move on and others want … (2 comments)
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arizona home loans: And You Really Thought You Can’t Get a Home with $100.00 - 08/29/08 06:45 PM
My speciality for the last 3 years has been primarily to focus on helping 1st time home buyers make the dream of home ownership a reality. Wow what a cliche I just said. Anyhow my question of the week from many real estate agents is: How am I going to help buyers … (17 comments)
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arizona home loans: The Home in 5 Bond Program a great substitute to Ameridream and Nehemiah - 08/22/08 02:38 PM
With so much talk about down payment assistance programs (DPA's) going away some homeowners will be left out in the cold and will be wondering about how they too can buy a home in such a great buyers market.
Most lenders out there are just not offering any 100% financing … (8 comments)
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arizona home loans: Mortgage Financing Tips When Buying an Investment Property: - 08/16/08 10:59 AM
Prices are finally starting to bottom out in most of the best areas around the Greater Phoenix Market and investment opportunities with positive cash flow are easy again for come by. In the last 30 days I am once again getting calls from investors who would like to buy at the … (3 comments)
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arizona home loans: From a Lenders Perspective: Housing & Economic Recovery Act of 2008: HR-3221: The Housing Bill - 08/07/08 01:32 PM
I just got out of a training class yesterday from the corporate powers to be, and this is the layout of this new housing bill from my point of view.
1. Down Payment Assistance is going away September 30, 2008. Officially the funds will be available for a client who if … (1 comments)
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arizona home loans: 62 Days Until Down Payment Assistance Goes Away - 07/30/08 06:25 PM
Well,
I was hoping to never have to write this post. Today President Bush signed into law: The Housing Bill
which has now done away with down payment assistance programs such as Ameridream and Nehemiah.
If you agree or disagree with the politics behind the bill, it does not change … (15 comments)
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arizona home loans: Please Call Me, I am the Advertised Interest Rate - 07/24/08 11:33 AM
"Hi my name is Mr. Mortgage Billboard. I am the big sign you see on the way to work each day. My colors are nice, pretty, and my font type is Helvetica, most appealing to my audience who drives by me each day. My goal is to become your friend. I … (5 comments)
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arizona home loans: The Amortization Schedule: An Old Fashion Way of Creating a Savings Strategy - 07/13/08 11:45 PM
The Amortization Schedule was good for our Grand Parents and Parents, so why have so many consumers moved away from the fundamentals? To answer this question, we must dig in a little deeper of what strategies are available in the first place.
When it comes to building wealth using your primary … (11 comments)
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arizona home loans: Know the Real Facts about Adjustable Rate Mortgage (ARM) Resets - 07/06/08 03:01 PM
This morning I read an article in the The Arizona Republic titled: "Arizona rate increases to peak in July". To paraphrase this article quickly, it basically states that Arizona homeowners will be faced with higher foreclosures due to the number of Adjustable Rate Mortgage that are about to reset.
Let me … (8 comments)
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arizona home loans: It's Official: Arizona Loan Officers will be Licensed by 2010 - 07/06/08 02:31 PM
It finally happened. Arizona Legislators finally got it together and passed a bill that will make loan officers licensed in Arizona starting in 2010.
Attached is the article from Catherine Reagor with The Arizona Republic. Now for the 1st time loan officers in Arizona will have to be tested and licensed.
… (18 comments)
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arizona home loans: Lender Fallout: Finding the Right Mortgage Lenders to Pick Up the Pieces - 07/02/08 01:26 AM
For once I picked up the paper and my local rag of a newspaper finally printed something about the mortgage business that was worth talking about. The Article was posted in The Arizona Republic titled: Finding lender you can count on then, I realized that it was not a new article … (2 comments)
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arizona home loans: The Fragile Mind of a Mortgage Professional June 27, 2008 - 06/28/08 03:24 AM
In the summer, just getting through the week is sometimes the biggest battle.
My week started out great, with some mortgage applications to work on and getting some mortgage financing of my own out of the way.
Right now is one of the best times to buy investment property, and I … (0 comments)
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arizona home loans: Let's Solve a Problem with a Problem: That's how we do it in Arizona! - 06/24/08 06:24 PM
Attention Arizona Taxpayers: Be prepared for the biggest bamboozle to hit your wallet within the year. If you are not aware of this, please turn down the radio and listen closely. Arizona is having a huge budget problem and the way our Governor and our State Legislators want to deal with … (11 comments)
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arizona home loans: The Fragile Mind of a Mortgage Professional June 20, 2008: - 06/21/08 02:52 AM
Well,
I survived another week in the summer heat of Arizona. Yeah, Yeah, Yeah it's a dry heat, heard that one before. When it's 115 degrees outside and you can fry an egg on the sidewalk here in glamorous Tempe, Arizona it's pretty unbearable. I jumped in my pool tonight just … (13 comments)
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arizona home loans: What Needs to be Done to issue a "REAL" Mortgage Pre-Approval Letter - 06/21/08 01:47 AM
I just got done reading a great post from Jesse Clifton titled: I'm sorry, what did you just say? and it made me think about how many loan officers everyday write up pre-approval letters and really give no real thought on the outcome of what they just did.
I have been around … (12 comments)
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arizona home loans: Does your Closing Agent make Housecalls? - 06/20/08 01:57 AM
It's funny how many vendors we are approached by each day stating that have the latest and greatest. Heck my competition is great at this. They like to announce to the real estate agents how they can deliver on time and how their service is better than the next guy, blah, … (2 comments)
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