mortgage advice in south florida: Why Does Hard Money / Private Money Cost So Much? - 02/17/08 10:43 AM
Why Does Hard Money / Private Money Cost So Much?
As a Mortgage Broker in Florida (Palm Beach Gardens) I have built up a reputation as having many of these type of Hard Money Investors at my disposal.  While this is true I am also asked many times why does it cost … (8 comments)

mortgage advice in south florida: Mr. /Mrs. Loan Officer How Much Do I Qualify For? - 02/01/08 10:13 AM
Mr. /Mrs. Loan Officer How Much Do I Qualify For?
When shopping for a new home most people will go to their local bank ask to speak with a Loan Officer to ask how much will they qualify for on their first home Mortgage. Sadly, I have heard the following story to many times … (17 comments)

mortgage advice in south florida: Mortgage Accelerator Programs.... You Know The Ones Pay Your House Off in 8 Years - 01/26/08 05:41 PM
Mortgage Accelerator Programs.... 
As a Mortgage Broker in South Florida (Palm Beach Gardens) I have been bombarded by phone calls, E - Mails and direct Mail about how I can make money off my clients by selling or pushing these type of programs. Now I have done the numbers and this not … (17 comments)

mortgage advice in south florida: I Just Want the Lowest Mortgage Payment....(Sound Familiar) Don't Forget Common Sense - 01/25/08 09:15 AM
As a Mortgage Broker in South Florida (Palm Beach Gardens) I can't tell you how many times I have heard these words from my clients. "Just give me the Lowest Payment on My Mortgage" This is why when when preparing a quote for my clients I always layout their financing options.  … (10 comments)

mortgage advice in south florida: GET OUT OF FLORIDA NOW! - 01/20/08 11:38 AM

Part of my job as a Mortgage Broker in Palm Beach Gardens, Florida (Northern Palm Beach County) is dealing with Wholesale Account Executives from Direct Lenders.  When you having been in the Business as long as I have, you become friendly with many of these people.   Once friendly with these Account … (31 comments)

mortgage advice in south florida: MI (Mortgage Insurance) Vs. Sub-Prime Mortgage Programs Things You Should Know - 01/16/08 09:39 AM
MI (Mortgage Insurance) Vs. Sub-Prime Mortgage Programs Things You Should Know
With the Mortgage Industry facing huge losses in the Foreclosure and Short Sale area's, Mortgage Insurance (Mortgage Insurance is required when you have less then 20% equity) companies have changed rates to help compensate their losses as well. Mortgage Insurance is … (14 comments)

mortgage advice in south florida: Stated, No Doc, No Ratio Home Loans..Think They Are in The Past? Guess Again - 01/15/08 09:52 AM
Stated, No Doc, No Ratio Home Loans..Think They Are in The Past? Guess Again 
As a Professional Mortgage Broker in Florida I found their are many misconceptions on what Mortgage Programs are available in today's Lending Industry.  The following programs are still available:
Stated Income, Stated Assets (No Proof of income or assets)Stated … (44 comments)

mortgage advice in south florida: Adjustable Rate Mortgage Due? Indices LIBOR, MTA, COFI? Don't Get to Comfortable - 01/12/08 09:04 AM
Is your Adjustable Rate Mortgage (ARM) coming due or know someone that is?  Then please pass this information on to them. 
As a Mortgage Broker in South Florida (Palm Beach Gardens), I have seen many market trends within the Lending Industry. Right now we are in a correction state of the … (8 comments)

mortgage advice in south florida: Are You Available 24/7 For Your Potential Clients? Don't You Love Technology - 01/02/08 09:13 AM
Being a Mortgage Broker in Palm Beach Gardens, Florida (South Florida), and someone who does not purchase leads for clients I rely on referrals from past clients as well as people who find me on-line.  Once someone visits my web site ( MyFavoriteMortgage.Net ) and fills out a request for info … (11 comments)

mortgage advice in south florida: What Should I have in 2008 When Applying for a Mortgage.....Patience - 12/28/07 10:23 AM
When Applying for a Mortgage in 2008 be ready to have Patience
As a Licensed Mortgage Broker in Florida (Palm Beach Gardens), I am seeing a trend in the later part of 2007 and predict it to continue into 2008 of each Lender (Bank of America, Countrywide, Indy Mac Bank, Wachovia, etc..) … (18 comments)

mortgage advice in south florida: Where Do I Go In 2008 as a Mortgage Broker? - 12/26/07 07:58 AM

I believe when starting in an industry everyone should start with a business plan. This is something I have always done and once a year I review it and make changes if needed. Now that 2007 comes to a close it is time for me to once again review mine. This year I have … (18 comments)

mortgage advice in south florida: Hard Money / Private Money: The Basics - 12/22/07 08:56 AM
Hard Money / Private Money: The Basics
With the Mortgage Industry in constant change lately many of my clients are turning towards Hard Money type loans.  These Loans also go by the term Hard Equity and Private Money. Being a Mortgage Broker in South Florida (Palm Beach Gardens) I have over the … (20 comments)

mortgage advice in south florida: Things not tell Your Licensed Mortgage Professionals - 12/19/07 08:45 AM
As the year comes to a close, I find myself reflecting on this past year interviews from clients.  Below is a list of phone calls and interviews that I have received from people looking for Mortgage's in Florida. Hopefully you will learn what not to say or do while speaking to a Licensed Mortgage … (37 comments)

mortgage advice in south florida: What?! I Never Paid My Bank Those Closing Costs! - 12/18/07 08:06 AM
What? I never paid my Bank those Closing Costs!
As a Licensed Mortgage Broker I make sure my clients fully understand all of the papers they are signing plus the Mortgage and the Good Faith Estimate.  When meeting with a client yesterday that was referred to me for his refinance of his … (20 comments)

mortgage advice in south florida: Feel Like Lenders Just Don't Care? - 12/14/07 10:45 AM
Lenders and Investors all over the country are being hit hard by the current crisis in Lending Industry. Do you feel like your Lender doesn't get it? Are Lenders like Kings and your are just their for amusement?
Press Play
Well this was just a movie and hopefully you got a good chuckle … (21 comments)

mortgage advice in south florida: Get Your Nails Done and While You Wait You Can Get a Mortgage as Well - 12/13/07 09:09 AM
This post was was inspired after speaking with Jeff Belonger the other day.  I had called Jeff to ask him a FHA question (yes believe it or not I don't have every answer) and while we are on the phone I had to tell him about a woman I met recently.  … (27 comments)

mortgage advice in south florida: ATTN: Mortgage Professionals Not Everyone in Florida is Stupid! Part II - 12/11/07 09:29 AM
When I wrote the original Post ATTN: Mortgage Professionals Not Everyone in Florida is Stupid I really did not anticipate a follow up post to that one.  However,  these lower than dirt people who claim to be professionals (also they are Loan Officer and Not Licensed) are coming out of the … (17 comments)

mortgage advice in south florida: ATTN: Mortgage Professionals Not Everyone in Florida is Stupid - 12/05/07 09:47 AM
Being a Mortgage Broker in South Florida (Palm Beach Gardens) for so many years and before that being a Loan Officer I have built up a loyal following of clients. Today I received an e-mail from one of my clients to please review a Good Faith Estimate(GFE) that her retired Mother … (31 comments)

mortgage advice in south florida: The Power of Media and Countrywide - 12/01/07 07:38 AM
 
Being a Mortgage Broker in South Florida (Palm Beach Gardens) I work with many of today's Premiere Wholesale Lenders and this would include Countrywide.  I have read all the problems they are facing but the facts are they are still here and still in business and lastly they are funding … (45 comments)

mortgage advice in south florida: Are You Really That Desperate? - 11/26/07 06:43 PM
I know I am a Licensed Florida Mortgage Broker located in Palm Beach Gardens, Florida (Northern Palm Beach County). This is what I do for a living and I take pride in what I do. Below is a list of careers that I am either not licensed for or not trained … (41 comments)

mortgage advice in south florida: Pre-Pay Penalty..Pay it Now? It Might be Worth it - 11/23/07 09:02 AM
 Pre-Pay Penalty..Pay it Now? It Might be Worth it
As a Mortgage Broker in Palm Beach Gardens, (Northern Palm Beach County) Florida part of my job is to order appraisals for my clients who wish to refinance their property.  With the amount of Short Sales and Foreclosures that are in the area … (33 comments)

mortgage advice in south florida: What a Difference it Makes When Dealing with a Professional Full Time Realtor - 11/20/07 06:37 AM
                                                                         
What a difference it makes when dealing with a Professional Full-Time Realtor. As a Mortgage Broker in Palm Beach Gardens, Florida (Northern Palm Beach County) I have seen clients recently, that want to take advantage of some great buys in the current market. After meeting with them and getting the clients … (35 comments)

mortgage advice in south florida: Facing Foreclosure? Why Not Try to Modify.... - 11/15/07 06:25 PM
Facing Foreclosure? Why Not Try to Modify....
Even though I am a Mortgage Broker in Palm Beach Gardens, Florida one thing stays constant know matter what part of the country you are in. That is Mortgage Brokers, Loan Officers, Mortgage Bankers and Loan Originators all earn a commission when your loan closes … (22 comments)

mortgage advice in south florida: Craigslist Mortgage Ad's *Beware* Part III - 11/14/07 08:51 AM
                                                            
This post is a follow up to my first two postings Craigslist Mortgage Ad's *Beware* and Craigslist Mortgage Ad's *Beware* Part II. In those first two postings I have outlined in detail what the laws are in Florida on advertising Mortgage's.  Florida is very specific on their laws and have … (27 comments)

mortgage advice in south florida: Don't Like What Your Appraiser Says? Get Another One... Not Going to Help - 11/06/07 10:06 AM
As a Mortgage Broker in South Florida (Northern Palm Beach County) I have several Appraisers that I use and recommend all of which are highly ethical and accessible. What I have been seeing lately is where the Borrowers don't like what the Property Appraisers are writing up the appraisals at.  The Borrowers believe … (31 comments)

mortgage advice in south florida: Craigslist Mortgage Ad's *Beware* Part II - 10/31/07 08:47 AM
                                                                
This post is a follow up to one that I recently wrote entitle Craigslist Mortgage Ad's *Beware*. In that post I went over the laws about advertising in Florida and what the state requires. On Craigslist I have seen and continue to see gross violations of these Laws. It is a shame … (13 comments)

mortgage advice in south florida: Short Sales & Private Money / Hard Money Might Make a Good Financing Alternative - 10/29/07 09:57 AM
Short Sales & Private Money / Hard Money Might Make a Good Financing Alternative
In Florida, one of the hot topics is Short Sales the purchases and the financing of these properties.  However, before you jump on the band wagon and say "I would Never use that type of Financing" lets take … (13 comments)

mortgage advice in south florida: Craigslist Mortgage Ad's *Beware* - 10/25/07 09:21 AM
Craigslist Mortgage Ad's Beware 
As a Licensed Florida Mortgage Broker located in the South Florida (Palm Beach County) I really cannot believe some of the ad's that are Craigslist for Mortgage's.  Just to let you know I do advertise on Craigslist as well but recently I cannot believe what some of my competition … (33 comments)

mortgage advice in south florida: Short Sales Sound Fantastic But..... - 10/24/07 10:42 AM
With my reputation in Florida as a Mortgage Broker who never gives up I am busier now with all the Short Sales going on in Florida.  I would just want to pass on some advice about purchasing a Short Sale.
Make Sure You Are Using a FULL-TIME Realtor who knows Short … (20 comments)

mortgage advice in south florida: Really What Does YSP (Yield Spread Premium) Mean to You Mr. & Mrs. Consumer - 10/23/07 08:50 AM
As a Mortgage Broker in Northern Palm Beach County, Florida (Palm Beach Gardens) yes part of how I get paid is from the end Investor (Lender) in the form of YSP (Yield Spread Premium). But really, what does this mean to the average consumer?
Most Lenders  such as Bank of America, Wachovia, Suntrust, … (15 comments)

mortgage advice in south florida: I Want the Truth...You Can't Handle the Truth - 10/20/07 03:31 PM
Being a Mortgage Broker in South Florida (Palm Beach County) and with the Market shift from purchases to Refinance of current loans I think maybe the heat gets to people.  Then again, maybe it is myself who is getting older and the older I get the more stories I have heard … (22 comments)

mortgage advice in south florida: Congratulations You Just Applied for a Mortgage. Now What? Part II - 10/19/07 08:58 AM
Congratulations you just applied for your Mortgage through your Mortgage Professional and made it through all those pages of either initialing or signing. Did the Mortgage Professional explain each page to you or did you just sign because it was so many pages you just want it done with?  Almost all … (11 comments)

mortgage advice in south florida: Hard Money / Private Money Always a Constant or is it? - 10/17/07 06:42 AM
Hard Money Loans (or Private Money) in Florida has always been a constant. Being a Mortgage Broker I knew or thought I knew I could always count on them to stepping up to the plate the rules and guidelines where usually very simple.
FICO Not RequiredUsually 65 LTV (Loan-to-Value)Closing costs involved pointsFast … (19 comments)

mortgage advice in south florida: Student Loans in Deferment? Think Again - 10/16/07 07:29 AM
Congratulations! You decided to take advantage of the buyers market right now. I have been working with borrower's in Palm Beach Gardens, Florida as well as throughout Florida.  Recently, one of my borrowers had deferred Student loans which showed clearly on their credit report as deferred.  (No Payment due)
When figuring the clients … (17 comments)

mortgage advice in south florida: I Only Deal With My Loan Officer at My Bank!... Yeah Right....Good Luck - 10/14/07 03:21 PM
Now before you think this is a post on how great Mortgage Brokers are versus Loan Officers at a Direct Lender sorry to disappoint you.  This post is to educate you on a bad loan officer as well as a bad Mortgage Broker can be anywhere even at a DIRECT LENDER.  … (23 comments)

mortgage advice in south florida: Congratulations You Just Applied for a Mortgage. Now What? - 10/09/07 07:22 AM
Congratulations, you spoke to several Mortgage Professionals and decided to apply for your home Mortgage through your Mortgage Broker. Now what happens next?  Your Mortgage Professional should have either contacted you prior to signing the application on the documents needed or leave you with a list of documentation you will be required … (11 comments)

mortgage advice in south florida: Make Them Stop! I Can't Take It Anymore! - 10/03/07 10:14 AM
As many of my readers know I am a Licensed Florida Mortgage Broker located in Palm Beach County (Palm Beach Gardens) and I do not purchase leads.  My business comes strictly from referrals and thankfully through Active Rain and people reading my outside blogs. (Mortgage Advice, Palm Beach Gardens) Recently, I am … (16 comments)

mortgage advice in south florida: ATTN: The Best Rate is not Always What the Client wants. - 10/01/07 10:56 AM
While sitting in my favorite Cigar Shop in Palm Beach Gardens for Sunday Football with all the usual patrons, one of them asked me if I would answer some questions about First Magnus and Countrywide during half-time.  Now anyone who knows me, knows I would never miss an opportunity to speak to a potential … (18 comments)

mortgage advice in south florida: Look What Programs are Back and Why? Quite Simply.............Call it Greed - 09/29/07 12:27 AM
Right now is a marvelous time to be a Mortgage Broker in South Florida (Palm Beach Gardens).  What, how can I be writing this you ask? Especially after what Jim Cramer stated.  Simple, most of the "Wanna Be" Mortgage Professionals have left the industry when they felt had no Mortgage Programs left. … (50 comments)

mortgage advice in south florida: Mortgage Advice: Lose the Attitude - 09/27/07 11:32 AM
Maybe the heat gets to people in South Florida but being a Mortgage Broker in Palm Beach Gardens, I can't believe how some people can come to me with an attitude about obtaining a Mortgage. My Grandfather gave me some great advice when I was growing up in Miami. "In life you get … (16 comments)

mortgage advice in south florida: Try Fannie Again! I Know I did... - 09/26/07 08:49 AM
Being a Mortgage Broker in South Florida (Palm Beach Gardens) allows me a lot of choices for my clients.  I receive roughly 50 e-mails a day from all types of Wholesale Lenders like CountryWide, Bank of America to Delta Funding (Sub-Prime). Recently, I received e-mails letting me know that Fannie Mae … (14 comments)

mortgage advice in south florida: Currently in a Bankruptcy and Want to Buy Your Way Out? Now you can! - 09/24/07 02:02 PM
Florida is not just the Sunshine State but it is also the home to second chances.  Everyone in life has hit a speed bump or two. Is'nt that what life is all about?  If you are currently in a Chapter 13 Bankruptcy you might be able to buy your way of it … (15 comments)

mortgage advice in south florida: Why Active Rain Works for me - 09/23/07 09:49 AM
It seems everyone in Palm Beach County and South Florida knows either a Mortgage Broker, Realtor, Title Company or an Appraiserbut just because you know them does'nt mean they are qualified. Recently, my property appraiser that I have been using for years has gone out on their own to start their … (39 comments)

mortgage advice in south florida: Processing Fee... A Junk Fee? I beg to Differ - 09/19/07 08:18 AM
When I first started in the Mortgage Industry in Northern Palm Beach County (Palm Beach Gardens)  my first job was as a Loan Officer for a company who made us Process our own files.  Looking back I do realize the truth was the owner was just cheap and did not want … (35 comments)

mortgage advice in south florida: Don't Go To a Mortgage Broker They are all Thieves....From a Mortgage Banker - 09/15/07 10:11 AM
Palm Beach County is in no short supply of Mortgage Brokers, Loan Officers and Mortgage Bankers.  This was a call I received late yesterday from a client almost in tears.  This poor woman has 10 days left before they are supposed to close on their brand new home. (First Time Home Buyer)  This … (33 comments)

mortgage advice in south florida: Borrower + Mortgage Professional = Partnership - 09/13/07 03:39 PM
Living and working in Palm Beach Gardens, Florida which is located in the Northern end of Palm Beach County really allows me to meet most of my clients. Whether my clients are in Miami, Ft. Lauderdale or even as far North as Orlando and would like to meet with me about refinancing … (10 comments)

mortgage advice in south florida: To Clear the Air on Mortgage's - 09/11/07 03:12 PM
Ok has everyone had enough bad news about the Mortgage Industry especially in Florida?  I know I have had it...Thankfully, I am a Mortgage Broker in Palm Beach Gardens and my phone and e-mail keeps sending me clients. 
Everyone I meet lately keeps saying how sorry they are because we have … (13 comments)

mortgage advice in south florida: All Mortgage People Stink!!...... - 09/10/07 01:35 AM
All Mortgage People Stink 
Maybe it is the Florida Sun in the Summer time.  But this was an E-mail that I received  last night from a prospective client asking me a quote. (Please keep in mind sending out an email asking for a quote is not a bad thing however in this case)  The person refused … (97 comments)

mortgage advice in south florida: Yeah....No Problem.....Sure I Can Get that Done...... - 09/09/07 08:55 AM
I received a phone call on Friday from a referral asking me for my help.  This person has gone through 4 other mortgage professionals (It really is hard to write professionals) and is trying to close on a purchase.
They informed me that the 4 other Mortgage people all promised that it … (14 comments)

mortgage advice in south florida: When Trying to Make a Great Deal Try This First....... - 09/06/07 06:46 PM
Palm Beach County, Florida is Not just Golf, Sun, Shopping and great Restaurants the County also has some great Web sites.  Today I met with a client who informed me they wanted to take advantage of the Buyers Market in Palm Beach Gardens and what percent should they offer under the asking … (19 comments)

mortgage advice in south florida: It's All About Control... and Who Has it - 09/05/07 03:58 PM
Lets face the facts, no matter if you are a Realtor or a Mortgage person our jobs are mostly based on Sales and Sales ability.  Before you start shaking your head NO,  the fact is people like to do business with who they like.  This would be sales. 
I have been … (29 comments)

mortgage advice in south florida: Full Disclosure on Your Home Mortgage...3 Days Prior.. Good or Bad - 09/04/07 09:14 AM
Living in a true Paradise of Northern Palm Beach County (Palm Beach Gardens) and with having a long holiday weekend full of Barbeque's and the Beach with lots of parties some how the Mortgage topic came up.  I know, I found it hard to believe it myself however, I never am … (21 comments)

mortgage advice in south florida: Commercial Hard Equity.... Thinking Outside of the Box - 08/31/07 10:16 AM
Living and working in Palm Beach Gardens, Florida I not only am a Mortgage Broker for residential home loans but I have carved out a specialty of Hard Equity also known and Private Money for both Residential and Commercial Loans.  When people think of Hard Equity / Private Money I find … (11 comments)

mortgage advice in south florida: Mortgage Industry Shrinking... BYE-BYE...... - 08/24/07 10:23 AM
* Please press play before reading below                                                      
Lately with all the changes within the Mortgage Industry and the Sub-Prime Mortgages we have seen a mass exodus of Mortgage Brokers and Loan Officers from the industry.  I just would like to say BYE-BYE....It's been real and its been fun, it just has not … (22 comments)

mortgage advice in south florida: Why am I so Positive in this Market? - 08/23/07 01:18 PM
I know I am very fortunate to live and work in Palm Beach Gardens, Florida and where the Sun and Golf are plentiful.  With the on going saga of the Mortgage Industry including the Sub-Prime Mortgages you would believe that know-one is lending.  I am here to inform you this is far … (18 comments)

mortgage advice in south florida: I am very Fortunate I am a Mortgage Broker - 08/21/07 10:04 AM
I know with the recent news about the Mortgage Industry my heart goes out to to the employee's of HomeBanc, American Home Mortgage and to the entire Mortgage Industry as a whole. I also have been following the news with Countrywide and its problems as well, I truly hope they can pull … (16 comments)

mortgage advice in south florida: Sub-Prime Vs. Hard Equity (private Money) - 08/20/07 08:54 AM
As a Licensed Full-Time Mortgage Professional living and working in Palm Beach Gardens, Florida I have build up a quality reputation for Jumbo Mortgages in the Alt "A" product line as well as Sub-Prime Market.  With all the new changes in the industry (Some for the Good) I have been looking … (8 comments)

mortgage advice in south florida: ATTN: THE SKY is NOT FALLING! - 08/15/07 10:31 AM
How lucky am I to live in Palm Beach Gardens, Florida a true golfers paradise.  I also, realized how lucky I am  to be a Full-Time Florida Mortgage Broker in this market which really allows me some great opportunities for both myself and my clients.  I know many Direct lenders would like you … (16 comments)

mortgage advice in south florida: Mortgage Advice for Hurricane Season - 08/14/07 09:04 AM
                                                                     
Being born and raised in Miami and Graduate of Florida State University (Tallahassee) I have been through many hurricanes.  (Somewhere in the teen's I lost count)  The information below is basic facts you should know if you are planning on closing on your mortgage during the hurricane season.
If You are … (42 comments)

mortgage advice in south florida: Yes Dorothy, The Mortgage Industry had a bad storm but........... - 08/07/07 09:27 AM

With all the craziness in the Mortgage Industry in the past week I believe many people are becoming caught up in the media frenzy.  Yes the industry is going through a correction stage right now where only the strong will survive.    
After seeing the movie "The Wizard of Oz" I belive we … (30 comments)

mortgage advice in south florida: Facts About Florida - 08/01/07 10:03 AM
Recently I did a post titled "Yeah I Can Do it All" in this post it talks about people stating they can do everything.  Well to expand on that, below is facts about the State of Florida.
                                                            
State Capital Tallahassee 2004 Florida had 76 Million Visitors which had an Economic Impact … (20 comments)

mortgage advice in south florida: Yeah I Can Do It ALL! - 07/31/07 09:49 AM
                                                                   
Maybe it is South Florida or living in Palm Beach Gardens but it seems like everyone you meet says "They Can Do It All"  Last Week I was a Realtor this week I am a Mortgage Broker and a Home Stager and and and and and.....
Enough Already!!
 Many people blame the … (26 comments)

mortgage advice in south florida: Grey and Cloudy Day in South Florida - 07/27/07 07:20 PM
South Florida has a great joke about the weather: "If you don't like it just wait 15 minutes it will change". 
                                                                     
That is why I love what I do.. I am a Mortgage Broker..
Just when your pipeline might get a little lite your phone rings or you receive an … (20 comments)

mortgage advice in south florida: Option Arm...Who is it Good For? - 07/19/07 06:46 AM
Ok you have read all the negative's about the Option Arm, 1% or Pick-A-Pay home loans. Yes this is a Negative Amortization loan (Neg Am).  Your balance will increase if you let it.  Living in South Florida most of my clients are outside of the conforming loan limits so they would … (25 comments)

mortgage advice in south florida: Bi-Weekly Payments... How does it work or does it work? - 07/18/07 07:07 AM
When shopping for a mortgage a true Mortgage Professional should ask you what your plans are for your mortgage.  Are you looking short term or long term?  Is your goal to pay down quickly on your mortgage?
If you decide that you are looking, long term and one of your goals … (13 comments)

mortgage advice in south florida: Do You Really Understand Your Option Arm? - 07/17/07 06:16 AM
In South Florida, when the interest rates where very low a couple of years ago and the housing market was going through the roof many people here opted for the Option Arm loan.   Other names for this product where called 1% loan, Minimum payment,  Pick a pay,etc.... This product is nothing … (21 comments)

mortgage advice in south florida: Foreign Nationals in South Florida - 07/11/07 11:00 AM
Thanks to David Podgursky he has really brought us some great information about Foreign Nationals purchases in the USA.  I would like to expand on his posts by just adding some useful information about underwriting guidelines.
Please keep in mind these are the general rules as both David and myself represent many lenders each … (16 comments)

mortgage advice in south florida: "That Lousy Mortgage Broker!! It's All his Fault.." comment by a Realtor - 07/10/07 11:21 AM
Does this sound familiar?  Be honest.....Are you shaking your head yes?  Good now that I have your attention it is time to get back on my soapbox.
                                                                   
This is the phone call I received yesterday from a Realtor that I know.  "Matt you have to help me!! The Mortgage Guy I … (28 comments)

mortgage advice in south florida: Time to Refinance.. Why Not Make it Fast and Easy?! - 07/08/07 09:10 AM
After reading my other post "Arm Due? Do you really need to Refinance" you have come to the painful realization that you really do need to refinance.  You are hating all the paperwork and dealing with the Mortgage person's double talking.  If this sounds like you why not see if you … (9 comments)

mortgage advice in south florida: ARM Due? Do you really need to Refinance - 07/05/07 11:29 AM
Is your Adjustable Rate Mortgage now moving into the adjustment period?  First off don't panic!  This is the time when cooler heads prevail and a true Mortgage Professional is worth his/her weight in Gold.  Don't let the fancy advertising using the scare tactics worry you.  Below is a list of questions … (22 comments)

mortgage advice in south florida: FREE APPRIASAL, NO CLOSING COSTS!! Get Real....Nothing in Life is Free - 07/03/07 08:47 AM
Call me old fashion, but I still get the Palm Beach post delivered every day.  I enjoy reading it with my morning coffee.  Lately I have noticed a lot more mortgage companies advertising all over the paper from Sports to Local and of course the Business Section.  From running a Mortgage Company, I … (36 comments)

mortgage advice in south florida: Mortgage Broker Vs. Retail Loan Officer - 06/29/07 10:24 AM
Palm Beach Gardens, Florida is in know short supply of either Mortgage Brokers or Retail Banks.  Everywhere you turn someone knows someone who is a Mortgage Broker and it seems like every street corner either has a bank on it or is building one on it.  So who do you turn … (24 comments)

mortgage advice in south florida: Domestic Partner Mortgage Financing - 06/25/07 09:47 AM
           So you and your domestic partner want to get in on the American dream of home ownership?
                                                      
First off, now is the perfect time in South Florida to purchase your dream home, it truly is a buyers market.  Since you are a first time home buyer you have many questions about the financing … (14 comments)

mortgage advice in south florida: Drive Through Mortgage's (would you like fries with that) - 06/23/07 02:22 AM
 
                                                    
In this day in age of fast everything do you really want the person making your financial decisions a phone call away or at the closing table with you?  Do you really know anything about that person?  Where he/she worked last?
Would a Realtor show property from 1500 miles away on the … (30 comments)

mortgage advice in south florida: 30 Year Fix Rate With Options - 06/21/07 06:59 AM
                                                         
Living in South Florida primarily Palm Beach county, people are used to choices so why not give them a mortgage with options to fit their lifestyle.  The mortgage that I am speaking about is not a negative amortization loan, it does'nt have a teaser rate or a catch.  Have your … (11 comments)

mortgage advice in south florida: Mortgage Week In Review June 9th- 16th - 06/18/07 06:05 PM
Due to unforeseen circumstances I am filling in for the person who's week in review it is.  It  is my pleasure to help out anytime I can.  These are just my opinions and I hope you like these posts as much as I did.  Also, just to let you know these posts … (29 comments)

mortgage advice in south florida: Would You Ask Your Mortgage Broker What Type of House to Buy? - 06/16/07 09:17 AM
                                             Ok Time to get back on my soapbox
                                                           
Would you ask your Mortgage Broker what type of house to buy?  hhmm (sounds silly does'nt) Is'nt this like asking your plummer about a pain you are having in your lower intestine?  Both of these you know where you will end up.  … (37 comments)

mortgage advice in south florida: YES...100% Financing is Still Available - 06/13/07 02:38 PM
                                                            
Living in Palm Beach Gardens is sometimes like living in an upscale town of Mayberry.  I have been living in the Palm Beach Gardens area for the past 10 years and have met some amazing people here.  These people are highly educated and extremely well read, which is why it … (17 comments)

mortgage advice in south florida: Please Do Not Ask Me To......... - 06/09/07 07:37 AM
                                                  
Being a Licensed Mortgage Broker in Florida or more specific the Palm Beach area I take my license very seriously. In addition, many of my readers also know I have a 5 year old son who I love and adore. Which leads me to my point of this post: PLEASE … (19 comments)

mortgage advice in south florida: South Florida Mortgage Advice: $300,000 for $965 a Month...I think not - 06/07/07 10:50 AM
                                                              
South Florida and PT Barnum where meant for each other. Mortgage people must believe "There's sucker is born every minute" with quoting amazing low payments and rates. Guess what? You have to pay me either now or later but you will pay. When shopping for a home loan don't get … (15 comments)

mortgage advice in south florida: Hotel or Condo? How about the Best of Both? - 06/06/07 08:31 AM
In Florida, more specific Singer Island, Orlando and Miami Beach we have no shortage of either Hotels or Condominiums.  Would'nt this be great if you can have the best of both worlds?  Be pampered at a resort but still have your own place.  Imagine having the perfect weekend getaway and then imagine getting a check at … (16 comments)

mortgage advice in south florida: Mortgage Shopping? Rate is Not Everything...Common Sense is! - 06/03/07 11:16 AM
When shopping for a Home Loan in South Floridaor wherever you maybe one would always think the best rate is always the best deal.  Sounds right does'nt?  (not including closing costs)  Well not always is that the truth.
I had a young couple recently who wanted to purchase a first home.  Please … (27 comments)

mortgage advice in south florida: Now I Know Why People Hate us (Mortgage Brokers) - 05/29/07 09:48 AM
Living in Palm Beach Gardens I feel like sometimes living in a protected bubble.  Where nothing can happen to you.  The people and shops are fantastic,  the Golf you can't beat.  However, everyone once in a while you get to come back to reality and see how the real world is.  … (28 comments)

mortgage advice in south florida: Appraiser Warning. Make sure you read the Appraisal in South Florida - 05/27/07 09:35 AM
 Appraiser Warning.  Make sure you read the Appraisal in South Florida
Living in beautiful South Florida is truly a paradise, unfortunately it also brings out the land sharks as well.  After reading and speaking with Neal Bloom for the past few weeks on his vents on the lending industry (some are correct) … (9 comments)

mortgage advice in south florida: Why use me a Mortgage Broker in Palm Beach Gardens, Florida?? - 04/26/07 11:57 AM
    Why use me a Mortgage Broker in Palm Beach Gardens, Florida??
                                                                 
This is a very common question that I receive a lot of.  "Why should I use you when I can go to my bank?"
                                            The following is a list that I give my clients. 
10)  I have been licensed by the … (6 comments)

mortgage advice in south florida: Wow! Some Loan Officers... - 03/05/07 01:59 PM
This really gives Loan Officers a bad name.  I recently met a gentleman who was thinking possibly refinance his 1st mortgage.  He proceeded to tell me his stories.  (please keep in mind the whole loan is 43k and in Florida)
His first stop was his local bank where he met the loan … (2 comments)

 
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