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lee county mortgages: are you "the real deal" - 04/07/12 06:04 AM
I don't know why I've been thinking about this so much. I guess maybe I'd just like to live in a simpler world sometimes, where things actually are as they appear to be.
So, what's really real?
Here's Websters take
real   actual, true; genuine
 
Let's say I'm attracted to you, want to do business with you, and/or refer clients to you because of your blogs. They are well thought out, interesting topics, and the content is first rate.
Then I find out that what has attracted me to you isn't 
"real"
actually you use a ghost writer. These are not … (4 comments)

lee county mortgages: Cape Coral's Cookin... and I don't just mean cheeseburgers and bow wow's; although there's plenty of that - 04/01/12 07:35 AM
you know, ordinarily in a posting about Cape Coral I'd want to make sure I mentioned our 400+ miles of waterfront and I'd certainly want to sneak in a shameless plug about the weather like
currently it's sunny and 70 degrees heading to a high in the upper 80's
 today I'm going to leave that stuff out.
What's really got my attention here though are these numbers:
Closings;
Nov 2011   318
Dec 2011   330
Jan 2012   339
Feb 2012   379
better get em while they're hot
Here's some interesting numbers if you're still concerned with instability, you know foreclosures and short sales. … (2 comments)

lee county mortgages: Portfolio Loans; what they are...and what they're not - 02/28/12 06:02 AM
It seems that when the term "portfolio loan" is brought up that it conjures up different images in the minds of different people. Let me see if I can give a definition of what a portfolio loan is, at least in my mind, and later, what it isn't.
to me a portfolio loan, in its simplist sense, is a loan where a banking institution establishes its own guidelines. In essence they decide, who the loan will be made available to, and the criteria for acquiring the loan. These guidelines/criteria usually vary from common agency/traditional requirements.  
 For example in my marketplace it … (19 comments)

lee county mortgages: Southwest Florida's on the move...and we're being Chase(d) - 01/22/12 09:23 AM
Many times it would be easy, living in Southwest Florida to just lay back by the pool, soak in the 80 degree weather, and sigh, "it just doesn't get any better than this!"
Wel,l considering the difficulties of the last 3-5 years I've just got to tell you
it is getting better...much better...and we're being
Chase(d)
What do I mean by that, well let me tell you.
When I first arrived in Southwest Florida I marveled at times on Publics ability to identify the new "hot" areas. Back 15-20 years ago they were the anchor for a commercial plaza on the corner … (0 comments)

lee county mortgages: I Paid Cash for my home...NOW I'd like some back - 01/19/12 08:39 AM
In Southwest Florida, where I live, for the last 2-3 years at least an extremely large number of sales have been consumated by $$$$$ buyers, much to the delight of the Realtor World I may add.
Why so many cash Buyers you may ask?
I think that there are a few reasons;
 
1. you have your traditional cash buyers who don't want a mortgage and don't need one
2. some did it for convenience and timeliness, that being to complete the transaction quickly
3. others needed to pay cash due to the property quality. It needed work and the buyers … (5 comments)

lee county mortgages: Your Lenders Package...and/or how to make the process go smoothly - 10/29/11 01:35 PM
Okay, you've decided that you want to buy a home, and you're going to need to acquire a mortgage. You know that they are going to want documentation up front, and you're the type of person(s) who like to be prepared.
here you go for starters...you will need
2009 & 2010 tax returns-all schedules
2009 & 2010 W2's
your most recent 30 days of paystubs
your most recent 2 months of bank/asset statements-all pages
note; if your bank statement says there are 4 pages and the last page is a worksheet/scratchsheet, provide all pages. the underwriter doesn't know what's on the last page … (3 comments)

lee county mortgages: is Truthfulness important to your business? - 10/27/11 01:02 PM
Okay what brought this on you may be thinking?
Yesterday I received a totally unsolicitated inquiry in regards to my interest in employment with a Chicago based mortgage company.
Here's the introductory line
Thank you for you initial interest in------------ -------.
 I had had not made any inquiries, had not had any contact, or did not have any idea who this company was, but being in an unusual mood I responded. Usually I just delete.
the response;
i don't recall ever expressing an interest.
in today's environment ethics is very important, and attempting to establish a relationship with a lie is … (0 comments)

lee county mortgages: The S.A.V.E. Act; more worthless legislation - 10/25/11 12:24 PM
YES
maybe
NO
If this is what is going to continue to come out of our Congress, maybe we should just extend their vacations, and let them all stay at home.Just a thought.
the essence of the bill is to include energy calculations in the mortgage underwriting process, thus improving lending standards
pleeeeease
Indirectly all costs are considered when underwriting a loan. But more importantly I would like to state
that Senators Isakson and Bennet have absolutely no qualifications to be able to make decisions as to underwriting mortgage loans and the quality thereof.
you know what this is...YUP
just some … (7 comments)

lee county mortgages: Are you an expert? Do you claim to be? - 10/09/11 11:09 AM
I was just reading a post over on "Short Sale Superstars" posing a question about the claims that we make or the labels we attache to ourselves and the ethics and/or liability involved, if any. I mean I don't know about you, but I see people making claims as to their levels of expertise in particular areas that knowing and/or having done business with them I'd have to challenge.
okay, definition;
expert-  very skillful, one with great skill or knowledge in a field
Since my experience, over 30 years, is in the mortgage industry, I'll use some examples there.
Just awhile back, … (0 comments)

lee county mortgages: I WANT MY MONEY BACK - 10/08/11 12:48 PM
Well,
you caaaaan't have it!
well, maybe you can, or maybe you can't, and even if you can it may not be easy, and it could cost you
what is this all about, you may ask?
Many of my Realtor friends are extremely happy because most of their sales are cash. Cash continues to pour into Southwest Florida regardless of what the national press may report. Also the market is fairly strong, and we now are experiencing inventory problems. But that's not my point.
so what is my point, you may be wondering?
Here's the potential problem;
when a buyer pays cash … (6 comments)

lee county mortgages: well just let me say this about that - 09/20/11 03:53 PM
My good friends at cnnmoney.com have rated Cape Coral, Florida as the second best place to retire out of the top 25. Now on the surface that may sound nice, but I've got to tell you sometjhing; based on their own info it's obvious
We're #1
got to be
here's their first bone of contention.
Marquette Michigan, yes get out your maps, is number one because and I quote
As lovely as it sounds to sip margaritas on the beach, doing it year round can get old.
Wrrrrrrrrrrong!
 i'll tell you a little secret. we have plenty of people who have been engaging … (2 comments)

lee county mortgages: Mortgage Pie - 08/25/11 10:13 AM
In most cases when you bake a pie you use a certain recipe and you make sure you get all the ingredients correct, that would be those that you need and in the correct amounts.
well
A little while back I saw an article published by "constantly negative news," previously known as CNN. The gist of the headline was that a potential homebuyer with a 800 credit score was denied a loan. I'll touch on the lack of truthfulness in regards to the score in a minute, but my first bone of contention is
that a mortgage application is not approved … (0 comments)

lee county mortgages: a mortgage is like a nice dress or a suit - 08/23/11 09:15 AM
it should be tailor made for the person wearing it, not the person who made it.
Do you remember what's just so special about a mortgage company, or do you need a refresher course?
Do you remember how/why we came into existence? let me share some thoughts.
We are a mortgage company. We only do mortgages. We are mortgage specialists. We do mortgages well...or we go out of business.
here's an indisputable fact
My (mortgage) product line is more extensive than any individual banking institution.
Rather than trying to force fit a clients needs into one of our products, which may … (2 comments)

lee county mortgages: what is perfect credit anyway and is that all it takes? - 07/06/11 09:52 AM
Two articles caught my eye yesterday while checking CNNMoney.com for any bond yield changes. It is a real quick way to monitor any movement.
You have to remember that C(onstantly) N(egative)N(ews) just loves putting the olde negative spin on their stories, whenever possible, but when I saw
"Secrets to getting a mortgage with so-so credit"  by Les Christie
and
"Mortgage denied despite perfect credit"  by Alison Kosik
I couldn't help myself and I read the articles.
The first point I'd like to make is that in my wildest dreams I cannot, and do not believe that either Les and/or Alison has … (2 comments)

lee county mortgages: The Modification Failure - 06/10/11 10:45 AM
Stop and think for a moment;
how many people do you know personally have applied for a mortgage modification? and how many have been successful? if any.
I'm a mortgage lender and I know 1 couple, and they had to make a biiiiig concession.
Here it is;
I was allowed to attend the hearing and the first thing that the negotiator made very clear was
there will be NO balance reduction! NOBODY is reducing balances.
This brings up the biiiiig concession. While the mortgage holder was generous, in my opinion with the rate and payment reduction, the couple was still severely … (10 comments)

lee county mortgages: where do most of the oldsters live? - 05/31/11 11:40 AM
CNNMoney's Les Christie was nice enough to sort through some of the Census data to make a few points about our population.
So here's the answers to where the oldsters live.
like anything else it depends on how you figure it. If you use the new Census and base it on median age, it's not Florida, as you may think it's
Maine
Maine? really?
yup.
The median age in Maine in 2010 was 42.7, 4.55 higher than the national average and 2 years older than Florida.
Who da thunk it?
Three factors come into play;
low birth rate
outward migration … (4 comments)

lee county mortgages: USDA/RURAL HOUSING ALERT for Lee County Florida - 05/11/11 10:57 AM
Your being wiped out.
Not totally, but close.
Here's a statement from the Florida state office,
most of Lee County is ineligible
When will this occur?
According to the USDA not before September 1, 2011, so you may still go online and use the existing eligibility maps.
Beware, if this is the best program for a buyer, there needs to be a sense of urgency, such as buy now.
Here's the new proposed area;
All area contained within and beginning at the Charlotte/Lee County line and State Road 31, south along State Road 31 to Williamson Road, east on Orange River … (2 comments)

lee county mortgages: It's TIME! (to turn short sellers into buyers) - 05/04/11 11:17 AM
I'm known to be the master of the obvious.
We're missing a traditional part of our market.
that being
those sellers who became buyers, either buying up, or often here in Southwest Florida, downsizing.
What happened? well you know. They're stuck with properties they can't sell, or have chosen alternative solutions.
Right now I want to address the short sellers, and I'll try to do it in more of a business related, rather than emotional fashion.
Why the "short sellers," because as far as I'm concerned they have attempted to act responsibly, to a bad situation.
Back to the obvious.
Both … (6 comments)

lee county mortgages: BEWARE! Strategic Default(ers)...We know who you are - 04/29/11 09:04 AM
Inman News reported yesterday that Fair Issac, the company that brought you FICO scores has developed a system to predict which homeowners are the most likely to engage in a strategic default, that being homeowners who have the ability to pay, usually a good credit history, but still choose to walk away from their property and the mortgage obligation.
They now have
"THE BLACK BOX"
My first thought is
So what
Mortgage lenders have always attempted to identify those who will default and hopefully attempt to prevent that default.
nothing new there
This isn't brain surgery here now. Who might … (2 comments)

lee county mortgages: Blogging about Bloggers (who explain why they blog) - 04/14/11 08:08 AM
why do I blog? let me count the reasons.
It seems, and I imagine appropriately so that most "bloggers" blog because it's part of their marketing plan.
Okay, that makes sense.
"the rain" supports this idea, I believe, as they are constantly posting pictures of members holding checks, with big smiles on them. The big smiles are on the members, not the checks, just to be clear.
Personally I find that a little tacky, but that's just me. "The Rain" has been berry, berry good to me, and yes it is part of my marketing plan, and yes it works very well, and … (9 comments)

 


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