WHY, WHY, WHY, WHY, WHY does this continue? can somebody please explain this to me? - 09/25/10 10:00 AM
Is this insane, or am I just confused? Am I missing something, or do I just not have the ability to understand?
What is it you may be thinking? Get to the point Jay.
Here Goes;
A lender/investor has a client who owns a property where the mortgage exceeds the value of the home. That seems easy enough to understand, and obviously this is in the best interest of
neither party
In most/all cases the lender/investor refuses to modify the loan, and reduce the balance to meet the market value of the home, and to potentially make it affordable for the … (10 comments)

Alllllllllllllllllllright!!! More Fantastic Portfolio Loan Products become available in Southwest Florida! - 09/23/10 09:02 AM
Just the other day I posted an article about "Portfolio Loans" making a comeback in Soutwest Florida. Remember now, a portfolio loan is one where the lender/investor establishes the guidelines, makes their own rules, so to speak. It's their $$$$$, and they are free to lend it as they chose.
Once again let me remind you that these are not subprime loans but rather
"Make Sense"
loans to good quality customers who just don't fit in Fannie/Freddie guidelines
Here's some new stuff;
originally Foreign National loans were only being made to Canadian citizens, with these programs. That has now been expanded … (4 comments)

Veteran Buyers; Cape Coral Florida Wants YOU!!! - 09/21/10 03:24 PM
I'm sure of this. The Cape loves you. It's a great place for you and your family to live.
How do I know this? I'll tell you how, it's obvious.
You drive down Colonial Blvd in Ft. Myers headed toward Cape Coral, and you cross the new, or not so new Cape Coral Bridge, and walla, you're on
Veterans Parkway!
How do you like that! If you pay attention now and look to the right, shortly you will see the Veterans Memorial. It's true.
Can you afford to live in Cape Coral?
According to the Bus Driver (Jay Lagace) there are … (0 comments)

Portfolio Loans, remember those? are making a comeback in Southwest Florida - 09/19/10 03:43 PM
Do you remember portfolio loans?
yes?
no?
Do you know what they are?
A "Portfolio Loan" is essentially a loan that a lender/investor keeps in their portfolio, that being that they don't sell it to anyone. Because of this the lender/investor gets to make the guidelines.
It's their rules.
In the old days, before the days of the ultimate in lender craziness, banks usually offered portfolio loans to their best customers, who could not qualify for the stuff fannie and freddie were offering. In most cases the client didn't qualify because they could not justify the payments, based on the income stated … (2 comments)

"by hook or by crook," are you okay with this? - 09/16/10 08:44 AM
Okay today, while working and listening to Mike and Mike in the Morning on ESPN, the conversation was directed toward Derek Jeter who cheated? deceived? or did his job in regards to being hit by a pitch in the game last night.
He wasn't actually hit by the pitch, it hit the bat.
Now, seeing the instant replay and knowing that Jeter was not hit he did look a little ridiculous when he danced around, and held his wrist like he was hurt. Yes the trainor came out to make sure he was okay, and Jeter had a smirk on … (6 comments)

You should see the looks I get when I tell people today's my..... - 09/11/10 08:58 AM
Birthday?
Yup...911
This used to be an emergency phone call, but now, well for awhile now it's been a national day of mourning...a day of anger? amongst other things.
Reflections, and other points of interest...maybe only to me
Have you seen my picture on my profile? Do I look like a terrorist? Why do so many people cringe when I tell them it's my birthday. I'm innocent, really.
I turned 50 on the first anniversary. I got on a plane and flew to Houston to a convention. My thoughts were if I won't fly, they win.
Great flight!
I turned on … (12 comments)

Flipping in Florida-through the eyes of a lender - 09/10/10 08:39 PM
I thought I'd just try to address some issues here and try to keep it light. I just read a post comparing flipping and rehabs, and I just took a mortgage application for a property which is a flip. The buyer does want a convential loan. Should be easy right?
Not necessarily.
I wasn't told intially that it was a flip, but I pulled the tax records and the deed, and got some follow up info from the bus driver.
Fannie & Freddie don't have any restrictions per say, in regards to flipping, but look out for the lender overlays, both … (0 comments)

SCRAP HVCC! Now would be Good! - 09/06/10 12:05 PM
Okay here's a challenge to those who brought us HVCC.
Show us a benefit. What improved?
Answer
NOTHING
First and without challenge;
HVCC increased the cost of appraisals to the consumer.
This is just a fact. It cannot be argued. The cost of appraisals on the average run about $75-100 above what was charged previous to HVCC. AMC's, aka Appraisal Management Companies, are not cost effective. This system just takes additional $$$ out of the consumers pockets.
The quality has not improved
Personally I believe it has worsened. The AMC's are more interested in what the appraiser charges than in the quality … (0 comments)

All Talk Radio-is that your business model? - 09/02/10 12:32 PM
All Talk Radio
Are you a big fan?
They talk a lot, they often discuss serious issues, often not, but
They don't do anything.
Do you knowingly, or not, model your business after All Talk Radio?
Yesterday I posted about a system, business plan, that centered around meaningful conversations.
Meaningful conversations need to be supported by
Actions
I remember back to the high school football days. The cheerleaders were teaching us then. They just didn't know it.
Action, Action, we want action,
A-C-T-I-O-N
I can hear it now as I type.
So here's the big question;
Do you want to pattern … (2 comments)

Do you realize you're a "Salesperson?" Do you have a plan for YOUR Success? - 09/01/10 11:56 AM
Where has 2010 gone? Anybody know? Cause here's a nasty fact;
Down the stretch they come
That they is us, in case you didn't figure it out. See it was plain to me because I know I'm a salesperson. But it amazes me how many salespeople don't want to admit that that is what they are. It further amazes me that they don't have a plan for success, but then wonder why they don't succeed.
Hmmm....
salesperson;  a person employed to sell goods or services
Yup; that's me.
I know, YOU need a more sophisticated title, and job description, I don't.
… (4 comments)

 


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