fha mortgage: Great Day For Open Houses!!!
- 05/31/09 12:58 PM
Today was a perfect day for Open Houses, the weather was perfect, and the Buyers were out. I stopped by four Open Houses and all were busy except one, because of the type of property. The Buyers that I saw at the Open Houses were mainly First Time Homebuyers, and all of them excited about the possibility of purchasing their first property. Each of them had a lot of questions for the Realtors that were holding the Open Houses. It is unusual for me to pick up a new Borrower when I stop an Open Houses, but today was the exception. … (14 comments)
fha mortgage: Seasoned Money ............ What Is It???
- 05/15/09 07:47 AM
The term "Seasoning Money" or Seasoned Money" is a very common term in the Mortgage Industry. A simple definition for what is "Seasoned Money" is that it is a reference to the length of time that has past since funds were deposited in or withdrawn from a Bank Account.. Why is "Seasoned Money" important in the Mortgage Industry? It is important because if a Borrower is applying for a mortgage, the Lender is going to require that they produce bank statements for a certain period of time. These days any deposit or withdrawal of funds of $1000 or more, that are … (18 comments)
fha mortgage: Appraisal Issues Continue To Be Big Problems!!!
- 05/09/09 06:26 AM
The effects of slow sales in the last two quarters of 2008 and the first quarter of 2009 are beginning to be felt more and more on recent sales. Despite all of the recent changes by Fannie Mae, Freddie Mac, and PMI Companies, the biggest obstacle that I am having with getting loans approved recently is appraisals. Because of the slow sales in the last two quarters of 2008 and the first quarter of 2009, Appraisers are having a difficult time in finding Comp's to support recent sales. I wrote a blog at the end of last month "Slow Sales Causing … (14 comments)
Today was a perfect day for Open Houses, the weather was perfect, and the Buyers were out. I stopped by four Open Houses and all were busy except one, because of the type of property.
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