Ar_home_b_search
 



mortgage: Refinance Now! Low, Low Rates! - 05/01/07 08:35 PM
I was just getting my nightly dose of online news when I saw the following on MSN.com's homepage:
Offer: $425k Loan for $1,417/mo. Refi and lower payments by $400/mo. NO SSN REQUIRED!
Now, what really got me was the claim that you can refi and lower payments without providing your social security number...really? Know what happened when I clicked on the link? You guessed it...LendingTree and their QuickMatch program. They advertise that this quick process will allow you to compare up to 5 loan offers from hundreds of lenders nationwide...without providing your social security number!
Now I guess I know why people keep … (7 comments)

mortgage: Stop Foreclosure! We Buy Houses Cash! Close in 7 Days! - 04/20/07 09:08 AM
You've seen those signs, I know you have. And if you are one of the millions of people across the country having trouble making the payments on your home or are already facing foreclosure, these signs can seem like the answer to all of your prayers.
But people in this situation tend to be very vunerable to shady characters that don't care at all about the homeowner...they only care about their own bottom line.
I totally understand the real estate investor's bottom-line mentality. They invest money to make a profit and that's fine. What I have a serious problem with is … (19 comments)

mortgage: Seriously? You Want Me To Do What? - 04/15/07 08:31 PM
I had the most awe-inspiring experience with a local Realtor recently...and not awe-inspiring in a good way. I had a buyer, represented by a very close Realtor friend of mine, who put in an offer on a condo for sale by an owner/agent...who just happened to be the mananging broker of his office and a 3rd generation Realtor. My client submitted my pre-approval letter with her offer. My letter was contingent on:
1. No change in her employment prior to closing
2. Clear title to the property
3. An acceptable appraisal on the property
Now, these are pretty standard conditions and should not have been … (10 comments)

mortgage: 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)

mortgage: Rock, Meet Hard Place - 04/13/07 11:15 PM
I really hate going up against other, unscrupulous lenders who will quote someone a ridiculous rate just to keep them on the phone. It is so frustrating to be on the other end of this conversation:
Borrower: My score is a 600 and another lender told me they could give me a 5.75% rate.
Me: That is certainly possible, depending on your credit history and the current value of your home.
Borrower: The other lender told me that was my rate, period.
Me: Mr. Borrower, with a 600 credit score and no idea of the details of your credit history or the value of your … (4 comments)

mortgage: 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

More about me…

UCM

Office Phone: (877) 490-7764 x 308

Email Me



Links

Archives

RSS 2.0 Feed for this blog