mortgage advice: Mortgage Lending Guidelines and Advice 101 - 11/11/09 11:54 AM
The new cliché in the mortgage industry is that "We are getting back to basics." I have heard this phrase thrown around lately, but sometimes I wonder if anyone except other lenders knows what we are talking about? I have a theory that if you get 2 or more mortgage lenders … (4 comments)
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mortgage advice: Confidence and perseverance wins the day in the mortgage business - 10/27/09 06:28 PM
Last month I had a business partner refer me a customer that was denied by a big bank for home financing. This client was not buying the biggest of homes but just wanted to have the dream of homeownership afforded to her. Like every client, her situation was unique. She had … (8 comments)
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mortgage advice: The future of the mortgage industry - 09/23/09 03:04 PM
Arizona Media insider Catherine Reagor at The Arizona Republic recently wrote an article claiming the mortgage industry has been deceiving the average consumer. Blame has been placed on loan officers for being unlicensed, collecting higher fees and forcing consumers into the worst loan products possible. So I guess until our industry … (3 comments)
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mortgage advice: 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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mortgage advice: As Mortgage Guidelines Tighten Professional Advice is Critical: - 08/13/09 03:33 PM
The days of choosing a mortgage professional based on a personality test and box of donuts in your real estate office is changing. Today with the tightening mortgage guidelines, having a mortgage professional who can review credit, employment, debt to income ratios, calculate assets, document the file and make sure that … (12 comments)
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mortgage advice: A Proven Track Record of Honest Quotes and Personal Integrity - 08/04/09 02:04 PM
Have you ever seen the movie "A Few Good Men" (Brown & Reiner, 1992) starring Tom Cruise and Jack Nicholson? Well, if you have not seen this movie I highly recommend it, it is truly an American classic. This movie has intense scenes and several of the most memorable movie quotes. … (2 comments)
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mortgage advice: In Life a Push is a WIN! - 08/10/08 12:40 PM
Anyone out there a fan of the game BlackJack? I always enjoyed this game from the moment my father taught it to me as a youngster. We used to play against each other and when I first learned it I used to hate having a push. If you are not familiar with … (13 comments)
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mortgage advice: 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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mortgage advice: 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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mortgage advice: 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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mortgage advice: 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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mortgage advice: Potential RESPA Violations and Mortgage Lenders Steering Buyers: - 06/05/08 09:58 AM
Brian Brady wrote a post recently entitled: Why Mortgage Brokers Love Countrywide and some of the comments got me thinking again about things going on in my market place that are real borderline RESPA Violations.
In my market place it's now common on REO listings to have it written into the comment … (79 comments)
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mortgage advice: It's really difficult to time the real estate market and interest rates - 06/04/08 02:11 AM
Lately I have been getting many calls from buyers who ask me if now is a good time to purchase real estate.
My simple answer: It really depends on your unique situation. If you are one of those folks out there that is trying to time the market perfectly to get the … (0 comments)
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mortgage advice: Market Shifts to Higher Interest Rates as Inflation becomes a Huge Concern - 05/30/08 01:02 PM
I have been watching rates move in an upward direction all week. Mortgage insiders such Barry Habib with "The Mortgage Market Guide" has been preaching this all week and the signs are there.
Now that rates are moving in that direction, what does this mean to a buyer who is shopping … (0 comments)
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mortgage advice: Paying the Bills on Time: The Building Blocks to Homeownership - 05/30/08 01:14 AM
If you have followed the real estate market and lending environment for the last 12 months, than you probably know that mortgage lenders have become quite strict on their mortgage guidelines.
The banks just do not have the money or resources to take any chances on what they deem as a … (0 comments)
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mortgage advice: How to Avoid Credit Hijacks from Mortgage Lenders and Protecting Your Privacy - 05/30/08 12:56 AM
Have you ever applied for a home loan with a trusted mortgage lender just to have some other mortgage company call you within minutes offering you the same loan?
If you have: You have been a victim of what I consider an unethical but legal practice in the mortgage industry called "Credit … (3 comments)
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mortgage advice: Is the LSR (Loan Status Report) Pointless? - 05/24/08 04:16 AM
WARNING THIS POST IS FOR ARIZONA REAL ESTATE PROFESSIONALS ONLY
Unfortunately in the State of Arizona Loan Originators are not required to be licensed. This then trickles down to the professional integrity and honesty of that individual loan officer and the company they work for of who is the burdened party to … (2 comments)
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mortgage advice: Tempe Mortgage Lender for First Time Homebuyers - 05/24/08 03:36 AM
Are you looking to buy your first home, but do not understand the process? Are you needing funds for down payment assistance? Were you turned down by other lenders who do NOT specialize in these types of loan programs? Well look no further, you have come to the right person to help you. I have … (0 comments)
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mortgage advice: The Best Mortgage Alternatives in the Declining Arizona Desert - 03/06/08 03:45 PM
Lately, I feel that I have beating a dead horse over here with all the changes due to a declining housing market. Our lending environment has became so tight that good borrowers feel that there are really no options to help them get into a home today.
Recently the mortgage guidelines have become more … (5 comments)
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mortgage advice: Is your ARM (Adjustable Rate Mortgage) Really Broken? - 03/02/08 11:33 AM
I wanted to talk about some situations that have been coming lately that has lead me to believe that the average "Joe Borrower" is still not aware of yet.
If you think your ARM (Adjustable Rate Mortgage) is BROKEN and this is going to cost your payment to skyrocket, you might be completely … (4 comments)
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