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mortgages: The Real Understanding of Today's Markets - 04/10/09 03:52 PM
With the ups and downs mortgage rates have had in the past few months, now is a good time to take a look at some factors behind how your mortgage rate is decided. Thawing the Market
Like most financial products, there is a secondary market for mortgages that brings buyers and sellers together. For your lender to keep business moving they will bundle a collection of mortgages into a security and sell it to an investor, usually a bank or government, to replenish their cash so they can turn around and make more loans. Your mortgage rate is directly tied to … (2 comments)
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mortgages: Bank Of America Buys Countrywide - 01/11/08 07:22 AM
It is 7am on Friday, January 11th and the world of mortgages just got turned over.
Bank of America today agreed to buy Countrywide Financial, the largest U.S. mortgage lender, in a $4 billion transaction that could help avert one of the biggest collapses in the U.S. housing crisis.
Rumors have been flying for months ragarding the problems that Countrywide Financial has incurred with all the mortgage woes. Is this the pill Countrywide Needed?
Details according to CNBC, "Countrywide shareholders would receive 0.1822 of a Bank of America share in exchange for each of their shares. The transaction values Countrywide at $7.16 per share, … (30 comments)
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mortgages: Underlying Themes- Must See TV - 12/11/07 11:01 PM
So I am sitting down watching one of my favorite shows- "Boston Legal" tonight. As many of you know, TV shows many times have Underlying Themes. Now if I can remember, I think this is the fourth season airing on ABC. Tuesday Nights there doesn't seem to have much on tv but this shows the bomb!.
Now if you haven't seen it, you have either been cooped up in a nuthouse with no tv, in jail and can't watch it for one reason or another or you just don't know what you are missing.
Now having a wife who is a High … (2 comments)
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mortgages: The REAL Skinny on Mortgages - 11/23/07 05:12 PM
Now that's the ticket....... Just what we all need....Lower Mortgage rates and No Closing Ciosts.
And just where do you think that comes from?
There is no free lunches and no free mortgages!
Someone has to pay for that! And in the long run it comes in the form of higher interest rates for our borrowers. So you ask "How does this work"? It is easy.....As all good lenders do, we must do what is the best thing for our customers?
There is always a cost to No Cost Loans. The cost comes in a form of higher interest rates. When lenders are paid, … (9 comments)
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mortgages: Fannie & Freddie today - 11/20/07 08:06 AM
This morning in the Money Edition of MSN.com, Reuters had an article headlining Freddie Mac. "Freddie Mac's third-quarter loss widens". In Forbes.com it reads "Shares of Fannie Mae, Freddie Mac Sink". And to paraphrase these articles, Freddie Mac third quarter loses increased greatly to include a 2 Billion dollar loss & Fannie Mae like Freddie Mac, will face big concerns of greater mortgage defaults. That would be a number that includes three comas and 9 zeros.....That's huge!
And you ask how did this happen? I have pondered this and am wondering why so fast? Did this happen over night? Where … (1 comments)
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mortgages: Serendipity.....Fate or Calculated? - 11/19/07 08:28 AM
Fate or not...There is SERENDIPITY!
Now first of all, I need to clarify something: I am not always so sensitive!But I couldn't help spending about 20 minutes or so ( maybe 45 ) writing this blog after sitting downstairs having a cup of coffee and watching "Serendipity" this weekend getting ready for FOOTBALL. If you have never seen this 2001 movie, staring John & Cusack (woman's heartthrob) & the beautiful & stunning Kate Beckinsale, you have got to get it.....
Romantic or not, it is such an awesome story & it made me think about what is it really means:Serendiipity means a natural … (4 comments)
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mortgages: The Moral of the Story - 11/14/07 04:23 PM
A big city lawyer went duck hunting in rural Tennessee. He shot and dropped a bird, but it fell into a farmer's field on the other side of a fence. As the lawyer climbed over the fence, an elderly farmer drove upon his tractor and asked him what he was doing.The litigator responded, "I shot a duck and it fell in this field, and nowI'm going to retrieve it."
The old farmer replied, "This is my property, and you are not coming over here."The indignant lawyer said, "I am one of the best trial attorneys in the United States and, if you … (10 comments)
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mortgages: A Thanksgiving Tradition - 11/13/07 06:21 PM
Everyone has their own Thanksgiving Traditions....For example, my 26 year old son comes home for the holiday's and every Turkey Day morning, he gets together with his old high school buddies for a frendly but competitive game of football. And of course we need to watch all the NFL games on Thursday:
And this year it will look like this:
Green Bay at Detroit - 11:30 Central Time on FOX (A great divisional game, probably the best of the day)New York Jets at Dallas - 3:13 Central Time on CBS (Probably a blowout and time to take a nap)Indianapolis at Atlanta - 7:15 Central Time … (6 comments)
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mortgages: Mortgage Extraordinaire - 11/13/07 04:51 PM
Have you often wondered why you should deal with your "Mortgage Professional"?
Is it their knowledge of the business?
Is it their products & programs they offer? Or is their Customer Service the promise?
Do they over promise or use cliche's like " Satisfaction Guaranteed" or "We offer the highest degree of Customer Service"? Most people don't even have a clue of what customer service is. And the level & expectations ae different for everyone. Bottom Line........You have to ask!Now all of us at one time or another have over promised and not delivered. Most of us were either early in our careers or … (0 comments)
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mortgages: What it is...it isn't - 11/12/07 10:47 AM
How many times have you gone by a gas station and seen the gas prices as you see it here? You see the lowest prices listed on top which is typically the lowest grade of gas. Then you go to the next price and it is a little higher and a step up in grade. And then the highest price with the highest grade of gas listed at the bottom....Just to get you in!I visited Iowa City this past weekend with a good friend who has 2 girls going to college in Iowa, 1 at the University of Iowa and the … (6 comments)
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mortgages: New York....New York - 11/02/07 08:28 AM
Have you ever wondered where these cabbies come from, where they learned to drive and how in world they get around like they do?
Well after spending this past weekend in New York and taking cabs to and from places, I had a few crazy experiences with these cabbies. They are unbelievable. They get into the tightest spots and drive through places a motorcycle could barely get through. And the worst one we had last weekend had to yell and argue with a large 300 lb. man who thought he should fight with OUR CABBIE. OUCH! All we wanted to do is get across town.
So last … (1 comments)
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mortgages: Need a Mortgage Professional in Philadelphia - 10/30/07 08:26 AM
I have a friend who lives in the Chicago area and has parents in Philly that need a mortgage. I am not licensed in Pennsylvania but would like to help. If you are a lender in that area that offers seconds and first loans, please contact me and I will pass the info on. They might need a heloc but probably will need to get a cashout refi.
ThanksKeith HoffmanLoansAreFree.comkeith.hoffman@1amllc.com
… (0 comments)
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mortgages: Ameridream Loans - 10/22/07 11:30 AM
FYI, Ameridream has been granted an extension while HUD reviews their litigation.Contracts must be signed by February 28th now. Nehemiah is in effect until April 1, 2008
… (2 comments)
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mortgages: New to the world of Activerain - 10/20/07 08:53 AM
Hello World.......
My name is Keith Hoffman and I am entirely new to the whole idea of blogging. And everyday goes by, I find myself going the site and checking out what is going on. So I thought I would blog a little this morning as I get ready for Sat. College Football.
I have been in the mortgage industry for what feels like a million years. 14 years ago or so I decided to change professions. I have been in sales for a long, long time. But after a long career as a rep in the apparel industry, my friend spoke to … (28 comments)
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Keith Hoffman - 1st Advantage Mortgage Residential Mortgage Specialist
Lombard,
IL
More about me…
1st Advantage Mortgage
Address: Dupage County, Will, Kane, Cook Counties, Kendall County, Lake County & 38 States, Lombard, IL, 60148
Office Phone: (630) 376-0555
Cell Phone: (630) 306-5626
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