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fixed rate: Really tough spot - any advice welcome - 04/14/07 10:45 AM
So, I have some friends in Northern Virginia that bought their new construction condo in September 2005. They paid $373K (full appraised value) and got a 2 year, interest-only ARM (I did NOT do their original loan...I was new in the business and they got a "better deal" with the builder's lender). Well, as those of you up in NOVA no doubt know, the condo market up there sucks right now.
My friends need to refinance to get out of their ARM, which will start to adjust later this year. Of course, they haven't done great things w/ their credit since … (5 comments)

fixed rate: Cash-Out Refi, Sub-550 Scores, Self-Employed. Not happening, right? Wrong. - 04/13/07 10:52 PM
I feel really good about something I worked on this week. Really, really good.
A woman called my office last week after getting my number from a past client that she works with. This woman was nearly desperate to refinance because she and her husband were beginning to get behind on their credit card payments. They had recently signed up with a debt-settlement service that said they would be able to help them settle with their creditors for less than the balances due. Unfortunately, the woman and her husband didn't really understand at the time that, not only did they have to be … (2 comments)

 

Ian Fregin

Virginia Beach, VA

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UCM

Office Phone: (877) 490-7764 x 308

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