fha mortgages: Good Faith Estimates -- Knowing the basics - A must read !!! - 10/12/08 11:36 PM
Good Faith Estimates -- Such an extremely vital part when shopping for a mortgage. Yes, rate is some what important, but seems to be the primary focus so many times. Not to sound rude or out of character, but a monkey can quote a rate. And I am dead serious … (51 comments)
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fha mortgages: Mortgage Money is still available - FHA loans & FHA mortgages is the best way !!!! - 10/10/08 05:36 AM
IT's still a great time to purchase a home or to refinance !!!!
Lenders still have money to lend. WARNING... WARNING.... buyers can still buy with little money out of pocket, all thanks to FHA mortgages.
There has been a lot of doom and gloom out there in … (8 comments)
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fha mortgages: FHA HOPE for Homeowners Program - aka the H4H Program - 10/09/08 09:41 AM
FHA Hope for Homeowners has finally arrived. The Housing and Economic Recovery Act of 2008 amended the National Housing Act to authorize a new temporary FHA mortgage insurance program called HOPE for Homeowners. This is also know as the H4H program.
This program, even though introduced on HUD's web site … (16 comments)
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fha mortgages: Market Report Update - Feds cut RATES !!!!! Do you know which rates though? - 10/08/08 12:59 PM
WARNING.... WARNING...... WARNING.....
This is not to say that mortgage interest rates have dropped today. Sometimes in the past, mortgage interest rates did become lower in weeks after the Fed dropped the fed rate. There have been times when rates went up. There are many variables for these two factors to take … (12 comments)
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fha mortgages: FHA loan changes in the near future..... Part 3 of 3 - Revised Downpayment & Maximum Mortgage Requirements - 10/07/08 07:28 AM
In obtaining a FHA loan might be a tad more challenging now, more than ever. Now with a slightly larger downpayment and the possibility of downpayment assistance programs being delayed or not coming back, the average consumer will just need to be a little more patient. Hence the reason … (16 comments)
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fha mortgages: FHA loan changes in the near future..... Part 2 of 3 - Upfront Mortgage Premiums - 10/01/08 11:28 PM
FHA loans will no longer have mortgage insurance premiums based on a combination of loan-to-value ratios and credit scores. This actually starts today, October 1, 2008, and rescinds Mortgagee Letter 2008-16. This is for all FHA mortgages that have FHA case number assignments as of today.
So, what does … (13 comments)
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fha mortgages: FHA loan changes in the near future..... Part 1 of 3 - Down Payment Assistance Programs - 09/27/08 11:21 AM
Are you ready for some more changes in the mortgage industry? Many of us know that there has been a lot of change, both with FHA loans and conventional loans. And the changes that I am about to mention have already been out there for about a month now, … (20 comments)
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fha mortgages: Realtors have a Fiduciary Responsibilty..... What about loan officers??? - 09/21/08 01:21 PM
There will always be different views when it comes to fiduciary responsibility. Many of us know that a realtor has a Fiduciary responsibility to their clients. But how do you treat this when meeting with your clients. How does a realtors code of ethics intertwine with your fiduciary responsibility?
Over … (32 comments)
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fha mortgages: FHA loans vs Conventional loans -- Numbers don't lie - A 5% down comparison - 09/20/08 09:20 PM
FHA loans have been used 30% more as the choice of mortgages as of lately in many parts of the country. What I hate hearing is that they have taken the spot of the subprime loans. This is not true by any part of the imagination. This statement is from … (27 comments)
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fha mortgages: Lock Lock..... Who's there? - 09/17/08 01:52 PM
...... my rate is locked, but rates came down.
....... my rate is locked, but rates came down who?
........ But rates came down, so I want the lowest rate now.
With the volatile market and rates dropping by more than 1/4% to 1/2% in the … (23 comments)
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fha mortgages: A Financial Meltdown on Wall Street - Will it affect you & real estate? - 09/16/08 12:50 AM
Can it be any worse out there? If you haven't heard, as the credit crisis continues, there are tens of thousands of jobs being lost just on Wall Street alone. And with a few mergers in the near future, there will be more jobs lost.
Is consumer confidence down? You betcha … (69 comments)
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fha mortgages: Give me the best deal & I want the best service !!!! - 09/13/08 10:57 AM
Are you a savvy shopper? Are you an educated shopper? How about sloppy? Cheap? Risky? Are you one that shops yourself right out of the market?
Are you one that jumps at any deal just because it says sale? Or when someone advertises "guarantee lowest rates" or "no fees"?
I have no … (32 comments)
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fha mortgages: Down Payment Assistance Programs might be Alive & kicking?? - 09/10/08 12:37 AM
Well, maybe your voice has been heard. Maybe it was the shot heard around the world. As news broke earlier today, in which there has been speculation that bill HR 3221, the "Housing and Economic Recovery Act of 2008, would be overturned, bill HR 6694 made strides today.
There are good signs stating that … (26 comments)
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fha mortgages: The March to Washington D.C. - Taking back Down Payment Assistance Programs - 09/08/08 11:40 AM
Well, my mom always said that I should have been a politician. I said mom, I need money and I need to stretch the truth. So I turned the other way and now I am a loan officer of 16 years. I love every minute of it and...okay, most … (69 comments)
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fha mortgages: Why can't your loan close now, the day before closing???? - 09/04/08 12:00 PM
What do you mean you can't get my loan closed now? You promised !!!!! Have you ever heard those words as a consumer or a realtor? I have closed 8 loans just this year that the consumer heard those same words from their previous loan officer. And these words were … (19 comments)
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fha mortgages: FHA loans & Real estate - Disclosure, Disclosure, & ?????? - 09/01/08 01:37 PM
I should disclose what? If you don't know about it, it won't hurt you, right? By not disclosing certain issues or topics, doesn't it allow me to sell you that item or my services a lot easier? In some cases, doesn't it make it harder for you to shop … (10 comments)
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fha mortgages: An Open Letter to the Consumer - Do you keep trying until you hear what you want to hear? - 08/28/08 10:51 PM
Dear Consumer,
I truly admire someone that doesn't give up. I love a fighter !!!! Let begin to say that I am not god, nor am I perfect, or do I know everything. But I do take pride in knowing a lot and if I am not sure, I … (24 comments)
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fha mortgages: Nehemiah - Countrywide & Wells Fargo.... what do they have in common? - 08/26/08 04:23 PM
What a topic of discussion in the past 30 days....... The DOWN PAYMENT ASSISTANCE PROGRAMS !!!!!!
For many of you, you have until September 30th to have a lender actually underwrite your loan and sign off on the MCAW. For those that don't understand, stop listening to the rumors that the … (21 comments)
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fha mortgages: Mortgage Pro Week in Review -- 08/01/08 through 08/24/08 -- New twist on Mortgages - 08/25/08 11:51 PM
Description of the Mortgage Pro Week in Review :
What is the Mortgage Pro Week in Review, for those that are new to Active Rainor those that haven't come across these in past weeks? It's 1 member from AR that volunteers their time to pick any mortgage related blog in a course … (32 comments)
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fha mortgages: It's Free, It's Fun, It's Your Credit Report? - 08/24/08 01:21 PM
Jason Sardi gives some very insightful tips on how to view your credit and what to be aware of. The average consumer doesn't know most of this, let alone the average loan officer. Hence why I wanted to share with you in regards to what Jason wrote about.
And speaking of … (7 comments)
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fha mortgages: FHA loans & FHA mortgages -- The basic concept of mortgages - 08/23/08 01:49 PM
If you are buying a home or refinancing, please read this before choosing a loan officer/mortgage lender.
FHA loans and FHA mortgages - Well, it's the same thing when it comes to any type of mortgage, may it be FHA loans, conventional loans, VA loans, etc etc. You just can't push … (21 comments)
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fha mortgages: Take a risk & miss a mortgage payment for relief? - 08/21/08 11:49 PM
WARNING !!! WARNING !!! WARNING !!! Beware of others giving you bad advice. Now, this is not the law, this is just my opinion and my advice.
Lately, I have received a few phone calls from either past clients or from consumers reading my posts. They are telling me that they … (16 comments)
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fha mortgages: Please hold the Ketchup & the Mustard.... just give me my rate!!!! - 08/17/08 10:18 AM
"I want that low rate and no fees that the other mortgage company is offering. And if you can't give it to me, then I'll just go to them or someone else."
I don't get those kind of mortgage shoppersthat much anymore. Most of my clients either come from a respected … (22 comments)
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fha mortgages: Down Payment Assistance Programs - Nehemiah, AmeriDream & others.. is there still hope? - 08/13/08 11:26 PM
Down Payment Assistance Programs - To include Nehemiah programs, AmeriDream programs, and many others, have been labeled to be finished as of October 1, 2008 by Congress. In this post, I wrote about the reasons and perceptions to why HUD and the government feel that they need to ban these … (13 comments)
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fha mortgages: The difference between a Pre-Approval and a Pre-Qualification letter. - 08/09/08 10:34 AM
I think the understanding of what the difference is between a pre-qualification and a pre-approval letter is very important, especially in today's market. I am finding to many consumers that have been led that they were pre-approved, when they were hardly pre-qualified.
If a loan officer or the lender hasn't … (11 comments)
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fha mortgages: FHA Loans & FHA Mortgages -- Legislation Update -- August of 2008 - 08/09/08 01:48 AM
As many of you are aware, the mortgage industry has been going through some major changes in the last 6 months. Well, get ready for some more changes. In my honest opinion, many of the changes are for the worst. Sorry, but it's reality and we need to pay attention more … (27 comments)
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fha mortgages: Buckle Up !!!! -- You think it's bad out there now? - 08/07/08 11:49 AM
I will be the first one to say that I hate negative news and the media that just misleads you with negative news from one point of view. But what about the reality of it?
Quick preview of the last years misfortunes.....
-- Many unstable markets & sellers panicking
-- Many … (59 comments)
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fha mortgages: Realtors & Sellers : Live near colleges or universities? - How to be creative in buying & selling real estate!!! - 07/20/08 04:08 PM
In today's real estate market, you need to not only know what you are doing, but be able to be very creative and to think outside the box. So, as a seller or a realtor, how do you market a home? How about a home that is in a college … (11 comments)
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fha mortgages: "Kiddie Condo" FHA loans aka Non-Occupant Co-Borrower Loans - What are they? - 07/19/08 06:58 PM
Are you always looking for a great investment? Do you have any kids going to college or in college? Well, don't let the picture to your right scare you. Just that many of us can relate to the movie Animal House and James Belushi. That is not what college is … (28 comments)
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fha mortgages: Nehemiah & Down Payment Assistance programs done? Is this true? - Urgent Urgent - - 07/17/08 12:53 PM
Do you think the mortgage and real industry as a whole has been bad in the last 2 years? What about the last 6 months? Yes, people are still buying and I am busier this year than last year. Part of the reason is because some lenders are … (17 comments)
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fha mortgages: Are you fake busy or busy as a bee??? - 06/24/08 04:32 PM
How many times do we use the phrase, "I am so busy, there is not enough time in a day". As a professional mortgage banker, helping people with FHA loans and Conventional loans, I have been very busy the last few months. And there are times, no matter what … (17 comments)
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fha mortgages: Top Six List : What questions should be asked prior to your mortgage application.... - 06/23/08 08:41 AM
The one million dollar question. Should you talk to a realtor first and find out what houses you could buy or should you speak to a loan officer first to get your financing options in place?
Speak to a loan officer first. Time again, I get consumers coming … (14 comments)
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fha mortgages: Can open house sheets help sell your home? - 06/22/08 04:25 PM
There are so many ways to market your house. The old conventional way is using the newspapers, especially for Sunday open houses. More and more realtors are using Craig's list, Active Rain, Facebook, and many other online services. Some of us forget about the easy to read Open House Sheets … (5 comments)
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fha mortgages: An Open Letter to the consumer : Focus on payment and not rate!!!! - 06/20/08 08:31 AM
Dear Mr & Mrs Borrower,
"What kind of payment do you want and or feel comfortable with?"
This is a question that I always ask right in the beginning. But in many cases, what I get from the consumer when asking this question is, "what is my interest … (17 comments)
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fha mortgages: FHA Mortgage Insurance - New risk based pricing guidelines - Effective 07/14/08 - 06/14/08 12:54 PM
FHA loans are now acting slightly based on previous foreclosures and first payment defaults. Yes, there is some risk in any loan. HUD/FHA has been around since 1934 and even though they truly pride themselves on helping first time homebuyers and those with challenged credit, they are now raising certain requirements. … (5 comments)
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fha mortgages: Good Faith Estimate - Good Faith Estimate - Good Faith Estimate -- Did you get one? - 06/11/08 07:34 PM
If you are a consumer looking to purchase or refinance, this is a must read. It could cost you thousands if you don't pay attention. This is not a threat, but a warning from someone that has almost 16 years of experience in the mortgage industry.
When shopping for a … (30 comments)
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fha mortgages: Sellers & Listing agents - One extra way to sell your home !!!! - 06/07/08 11:14 PM
No matter what the general consenus has been that we are in a bad housing market, that buyers can be picky choosers, and houses have dropped in value..... if you need to sell, you sometimes need to be creative. You need to keep an open mind.
I am not here … (12 comments)
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fha mortgages: Nehemiah/AmeriDream Down Payment Assistance Programs (DPA's) - Are they that bad?..... - 06/06/08 10:37 AM
Nehemiah programs are just one form of a down payment assistance program. You can use these in conjunction with FHA loans. There are other down payment assistance programs such as AmeriDream, Genesis, and a few others.
Lately I have been reading a few blogs that state that these down … (104 comments)
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fha mortgages: FHA loans vs Conventional loans - Knowing the true numbers.... - 06/01/08 05:03 PM
FHA loans have been the choice of mortgages as of lately in many parts of the country for numerous reasons. What I do hate hearing is that they have taken the spot of the subprime loans. This is not true by any part of the imagination. This statement is from … (8 comments)
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fha mortgages: The Memorial Day 2008 Super Meme by Jeff Belonger - 05/27/08 07:37 PM
Oh boy, someone went and did it again. Mary McKnight over the weekend, decided to post a new style of meme, if some of you remember these from a few years ago. You can read Mary's new meme here : rsspieces the-memorial-day-2008-super-meme
So I was tagged by Jeff … (6 comments)
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fha mortgages: The Myths behind ZERO point mortgages instead of paying points upfront…… - 05/22/08 01:10 AM
Mortgages and points, sounds like evil words, right?. It could save you thousands.
I have been doing this for almost 16 years now. When I first got into this industry, I heard client's lawyers and accountants tell their clients not to do mortgages with points associated to them. Or it … (31 comments)
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fha mortgages: What the heck is going on with misleading information????? - 05/17/08 10:44 PM
I know that we are in a society that has information buzzing around like bees around honey. But I would have thought that there would be less people in the mortgage business or in real estate giving out false information or misleading information. I thought because of the lack … (30 comments)
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fha mortgages: Mortgages & Real Estate -- Red Flags that consumers need to be aware of - revisted - 05/17/08 03:34 PM
How many of you at one time or another bought a house or refinanced your mortgage and ran into one problem or another. May it have been the realtor who was not able to give you the correct answer or the loan officer who strung you along and then changed … (3 comments)
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fha mortgages: Good Faith Estimates - FHA loans or Conventional loans - Why is it so difficult??? - 05/14/08 10:16 PM
Earth shatering news here..... when you are shopping for a mortgage, may it be a FHA loan, a conventional loan, or a VA loan... please ask for a good faith estimate. Not every loan officer will volunteer one to you.
I can't tell you how many consumers that I have … (18 comments)
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fha mortgages: Listing Agents, don't hurt your sellers ability to sell !!!! - 05/10/08 09:42 PM
Realtors, do you not only hurt your seller from selling their home, but possibly hurt the buyer from buying their dream home? Why do you have anything against a FHA loan?
Do you over think? Do you just go off of what others say in the real estate industry? … (25 comments)
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fha mortgages: FHA loans & FHA rates - Why so different from conventional loans? - 05/09/08 01:06 AM
FHA loans in many cases are much better than conventional loans. I have made this statement several times recently because I am tired of listening to loan officers, realtors, and the average consumer get all excited because FHA mortgages are back. People, they never left. FHA loans are not … (8 comments)
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fha mortgages: Creative FHA loans — No Money out of pocket - 05/04/08 08:59 AM
FHA loans are becoming a vital part of todays financing when it comes to buying a new home or refinancing. You will still hear from some lenders or realtors that FHA financing is not the way to go. Here are some reasons why and the rumors mentioned :
They are old … (9 comments)
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fha mortgages: FHA Loans - FHA Mortgages -- What's behind the credit score.... - 04/29/08 03:24 PM
Credit scores..... aka fico scores. I am a firm believer that you can't believe in everything that you read.
As you can see the illustration to my left, that it states that the average credit score is 678. I have a hard time believing this and just talked to a … (11 comments)
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fha mortgages: FHA loans vs conventional loans -- The true story told by numbers.... - 04/28/08 09:42 AM
FHA loans are not the next subprime loans. Don't let anyone else fool you on this. FHA has been around since 1934 and subprime mortgages started to emerge in 1994. Subprime loans in many cases were good for those lenders that weren't FHA approved. The problem with that is the … (14 comments)
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fha mortgages: FHA Streamlines - FHA Loans make it an easy process to refinance - 04/28/08 12:04 AM
I decided to venture out in the blogoshpere today to see what some other lenders are writing about FHA Streamlines. As I have stated, you can't believe everything that you read, even if it sounds true.
In this post, I want to highlight some of the misleading facts that … (6 comments)
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fha mortgages: FHA mortgages are not just for First Time Homebuyers....... - 04/26/08 06:12 PM
FHA mortgages are not as complex as many make them out to be. They are not the next subprime mortgages. FHA loans have been around since 1934, while subprime mortgages started to come into full force back in 1994. Lastly, just because someone said that they can qualify you for … (8 comments)
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fha mortgages: Do you sacrifice service for price ??? - 04/25/08 05:36 PM
Do you go 3 extra miles out of your way to get your gas 5 cents cheaper per gallon? To end up with longer lines or for the gas attendant that takes their time?
What about the bakery whose ad says birthday cakes for $5.00 done in 3 days. When … (51 comments)
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fha mortgages: FHA mortgages - What to believe & credit issues -- Part 1 of 2 - 04/19/08 02:21 PM
As the credit crunch continues, I wanted to point out some key issues that I am seeing in todays market place that are misleading the average consumer.
FHA mortgages..... (my advice, steer away from loan officers or lenders that advertise what I am about to talk about)
There is no … (9 comments)
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fha mortgages: Is the referral from your realtor more powerful than someone from the internet? - 04/19/08 01:47 AM
So, what is the answer to the million dollar question?
Question : Is the referral from your realtor more powerful than someone from the internet?
Answer : Yes and No.....
The internet is very widely used for so many different uses nowadays. The NAR, National Association of Realtors, has stated that 80% of the … (41 comments)
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fha mortgages: FHA mortgages -- Why are so many consumers having approval issues??? - 04/17/08 02:55 PM
Is your current lender giving you the run-around? Have you been told that you should have the approval or the commitment letter any day now? And it's been 7 to 12 days now. Was this the same lender that told you 30 days ago, that they could get your loan … (21 comments)
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fha mortgages: MORTGAGE PRO Week in Review -- 04/07/08 through 04/13/08 - 04/14/08 05:08 PM
As we head into Spring, and a real estate market that is starting to take shape, we need to forge ahead and educate all around else. We need people to better understand the whole buying process, with details and not just assumptions.
I want to put a challenge out … (28 comments)
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fha mortgages: Sellers & Listing Agents -- Are you hurting your potential buyers mortgage payment? - 04/13/08 02:30 PM
You are a seller that lists with a real estate agent, and one of you decides that you will not accept FHA financing as a means of a potential buyer purchasing your home? Why is this? Have you been misinformed by the general public? By a real estate agent that … (14 comments)
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fha mortgages: FHA mortgages - Brokers vs Bankers - Part 2 of 2 - Do you want the truth? - 04/12/08 12:09 PM
In the ever changing world of mortgages, it's been tougher in recent months, especially if you have to rely on another company to help you close a loan. Which sets that tone for a debate between brokers and bankers. Let's start off by defining each of the two and give … (21 comments)
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fha mortgages: FHA -- Non-Occupant Co-Borrowers -- Now on refinances also.... - 04/10/08 11:58 AM
FHA has always allowed a buyer to get the help of a relative to help them qualify for their purchase of a new home, without that person living in that new property. This would be known as a non-occupant or non-occupying co-borrower. On the conventional side of things, … (7 comments)
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fha mortgages: FHA mortgages -- Your lender said YES ??? - Part 1 of 2 - 04/08/08 12:58 AM
You are APPROVED for a mortgage.... no problamo... I can do it....
Okay, so I am a loan officer and I want your mortgage.... I want your business. I am either busy or slow, it shouldn't matter. I should :
treat you with … (18 comments)
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fha mortgages: Zillow Mortgage Marketplace & Lending Tree -- Online Lead Generators - What does it all mean? - 04/05/08 02:10 PM
LEAD GENERATORS -- Definition from Mimi.hu -- The process of collecting contact information and extracting potential sales leads. The process of finding people (consumer or business) with a qualified interest in a certain product or service.
Jeff Belonger's definition of lead generators. Risky, sometimes false hope, misleading, low ball rates and … (59 comments)
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fha mortgages: Misdleading or false advertising - The reality of the truth - 04/03/08 02:04 PM
Times are frustrating. We have been in a changing real estate/mortgage market in the last 12 months. As a lender or realtor, you really need to think outside the box at times, but in good consciousness. As a consumer, you don't know who or what to believe or … (20 comments)
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fha mortgages: FHA Mortgages - FHA Mortgages - FHA Mortgages - Part 1 of 2 - 04/02/08 12:32 PM
Are some lenders and loan officers just shooting craps with your mortgages? I think so..... Experience and knowledge don't always have to be a prerequisite to help you with a mortgage. Now, don't get me wrong, knowledge and experience could be the key to your mortgage closing. But what … (7 comments)
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fha mortgages: FHA mortgages - mortgages in general - What a consumer should know first.... - 03/30/08 06:48 PM
After being in the mortgage business for 15 1/2 years, to many loan officers don't ask the appropriate questions in the first 10 to 15 minutes of interviewing the consumer. The main concern that the consumer has and usually asks first is what the lender's … (31 comments)
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fha mortgages: FHA mortgages vs Conventional mortgages.... which is better? - 03/29/08 01:16 PM
I know some loan officers will debate that conventional mortgages can be better than FHA mortgages, but I always thought that real numbers always outweighed opinion. Aren't real facts correct over opinion? As long as these figures are accurate, right?
Yes, conventional mortgages are better if you have … (17 comments)
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fha mortgages: Transparency - FHA, Conventional, or VA mortgages .... What does it all mean? - 03/28/08 04:34 PM
Transparency in my opinion is an abused word or misunderstood. I would have to assume that there are two different ways to define transparency when it comes to mortgages, may it be Conventional, VA, or FHA mortgages.
Here is one definition that I hear from some mortgage lenders … (8 comments)
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fha mortgages: Realtors, all lenders aren't the same..... - 03/15/08 08:37 PM
I had received an e-mail from a consumer yesterday, who has been reading a few of my blogs. She told me that they were suppose to have gone to settlement on the purchase of a new home on March 11th. They went with the realtors suggestion of using their … (16 comments)
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fha mortgages: FHA mortgage & Conventional mortgage TIPS.... buyers beware !!!! - 03/13/08 02:54 PM
May your loan be a FHA mortgage or a Conventional mortgage, I am finding many loan officers not prepping their clients with knowledge. I have been in the mortgage industry for over 15 1/2 years now and for some reason it seems like it has been sloppier on the … (13 comments)
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fha mortgages: Mortgage 101 - FHA and Conventional Mortgages - The Basics - 03/10/08 09:28 PM
Welcome class..... After reading many blogs and advertising on the internet that talk about "best rates", "no closing costs", "little closing costs", "7 day closings", "hard to close loans", etc, etc..., I decided to give a brief and basic list of what you should be asking. These are also … (7 comments)
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fha mortgages: The credit crisis aka the Wheel of MisFortune - 03/09/08 12:54 PM
Has the real estate market been your wheel of misfortune? Have you been made promises after promises? Have you bought into the hype of what one company or person might promise you, but at the very end, it's not even close to what they promised?
Does a realtor promise … (11 comments)
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fha mortgages: Nehemiah - AmeriDream -- The Down Payment Programs live on...!!!!!! - 03/07/08 11:41 AM
With yesterdays news that the new FHA loan limits were increased, and that Judge Lawrence K. Karlton upheld Nehemiah's motion against all down payment assistance programs to be banned, it's been a very good week in the mortgage industry.
Here is part of the letter from Scott Syphax … (27 comments)
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fha mortgages: FHA loan limits -- The New Increases -- It's official !!!!!! - 03/06/08 11:10 AM
Well, it's finally here. The new FHA loan limits are officially out, that they have been changed. This will definitely open up the doors to new purchase deals, because the credit guidelines are more relaxed than conventional mortgages. Especially with Fannie Mae and Freddie Mac coming out with new … (26 comments)
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fha mortgages: Buying a home FHA or Conventionally, it should all be fun...... - 03/05/08 10:01 PM
MAKING MORTGAGES FUN AGAIN
Shouldn't buying a home be fun, not as stressful as some make it out to be. And I am not here to point the finger, but the major of complaints have come against the loan officer or lenders. As business has slowed down, I … (9 comments)
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fha mortgages: Nehemiah/AmeriDream Down Payment Assistance Programs (DPA's) still unknown...... - 03/03/08 10:21 AM
The Down Payment Assistance programs are still up in the air, unknown at this time, whether or not that they will be extended beyond the March 28th deadline. This is for all DPA programs such as Nehemiah and AmeriDream.
Judge Friedman of the United States District Court for the … (11 comments)
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fha mortgages: Top 10 reasons FHA is a great way to finance your home.... - 03/01/08 02:59 PM
FHA mortgages, why are they still not talked about as much as they should be?
Many mortgage companies are not FHA approved.Many loan officers do not truly understand the difference between FHA mortgages and Conventional mortgages. Overall, what a great time to purchase a home or to refinance your mortgage. … (19 comments)
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fha mortgages: Good Faith Estimates - FHA or Conventional - You need to pay attention to this !!!! - 02/29/08 03:10 PM
Good Faith Estimates......
When you shop for a mortgage, does your loan officer give you a copy of the good faith estimate? Do they even give you this good faith estimate form when you apply for your mortgage?
I only bring this up because I just spoke to my 5th … (11 comments)
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fha mortgages: Nehemiah - Ameridream - FHA financing....what does it all mean? - 02/26/08 11:43 PM
Nehemiah, AmeriDream, and any other down payment assistance program(s) could be ending by the end of March. March 28th to be exact. Does this mean time is running out? It certainly looks like it. If you are in the process with a lender now, you better be on top … (15 comments)
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fha mortgages: FHA / Conventional mortgages OR Cash purchases??? - 02/24/08 03:17 PM
Okay, so you have $200,000 sitting around and you feel like investing it in a home or two. Sounds like a wise investment, only if you plan on flipping the home.
Kent Simpson talks about the abundance of cash buyers in some areas. Read this for more info : … (16 comments)
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fha mortgages: Is your honeymoon period over with your lender or real estate agent? - 02/22/08 02:37 PM
How many of you out there start your search on the internet when it comes to buying a home or refinancing your current home? You do a few weeks of research trying to find that lender or real estate agent that not only gets back to you in a timely … (10 comments)
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fha mortgages: Holy Mackerel -- more SUCCESS stories from Active Rain and blogging !!!!!! - 02/17/08 12:18 PM
Helping people is a passion of mine, but getting a thank you when not asking for it is even better. I received a contact e-mail through Active Rain from a consumer looking for some help in regards to financing on 01/21/08. We finally closed on her loan on 02/15/08. … (31 comments)
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fha mortgages: Project Lifeline - Not FHA or Convetional.... just another flop? - 02/14/08 12:43 AM
Project Lifeline, what does it all mean?? The Bush administration just announced Project Lifeline on Tuesday the 12th, 2008. This new plan is suppose to be an extension of the previous plans to help homeowners who are having difficulty in keeping up with their payments. The previous plans had strict … (15 comments)
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fha mortgages: The FHA EXPERT on Blog Talk Radio Show Discussing FHA Mortgages - 02/12/08 10:08 PM
Fran White has been so kind to invite me to her weekly so-called talk radio show this Friday, the 15th. When I say so-called radio show, she is the host, conducting the interview and the incoming calls. It's all done through her, her phone, and an online program. Technology … (14 comments)
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fha mortgages: Mortgage Process - Purchase CHECKLIST prior to purchasing a home - Part 1 of 3 - 02/11/08 09:45 AM
Okay, you truly feel that you could be in the market to purchase a home in the next year, possibly in the next 6 months, or you decided to look into it now. You feel like it shouldn't be that hard, that you have decent credit and that … (23 comments)
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fha mortgages: FHA mortgages vs Conventional mortgages - A True 3% down Comparison - 02/06/08 08:00 PM
FHA mortgages, in my opinion, are still one of the best mortgage options out there, as long as your credit score is above 500 and that you can prove your income.
This is a continued series showing you that in many cases, FHA mortgages might be your best solution … (14 comments)
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fha mortgages: Market Update - Refinance or Lock your purchase money now !!!! - 02/05/08 11:16 AM
Mortgage rates are better now than last week. Refinancing or Purchasing?
Have an adjustable rate mortgage? Don't wait..... Already applied for a mortgage to purchase a home and you are 30 days out from settling on your new home, it might be time to lock in now!!!
For many of you … (6 comments)
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fha mortgages: Refinance FHA Style...... why rate? or is it why wait? - 02/04/08 10:58 PM
FHA rates, conventional rates, VA rates..... Mortgage Rates in general are very LOW!!!
I know many of you know that mortgage rates are lower than what they have been in the last 2 years. What frustrates me is to hear a loan officer of 7 years in this business tell me 2 … (16 comments)
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fha mortgages: FHA mortgages vs Conventional mortgages - A True Comparison - 01/28/08 12:30 PM
The mortgage industry is changing right in front of us, basically on a monthly basis now. Which is why you need the advice of a mortgage professional and not an order taker. The word conventional mortgage doesn't mean that great rate or wholesome loan, that it did just … (16 comments)
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fha mortgages: 2008 FHA & Conforming loan limits -- Truth or Rumor - 01/27/08 12:15 PM
We all know that the economy is in the tank in one way or another. The Senate passed the bill of raising the FHA loan limits across the country back in December of 2007. What so many people didn't understand is that it had to go back to the House … (17 comments)
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fha mortgages: Good people can finish last...... - 01/26/08 04:59 PM
Giving those that don't give up, all the credit in the world. I hate when I speak to a client that is trying their hardest to stay above water. Trust me, I am a firm believer that good things do come to those that are good, true to themselves and others, … (18 comments)
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fha mortgages: Mortgages & Homes -- Best time to buy is now !!!!!! - 01/19/08 08:18 PM
Home purchasing, existing or new homes, now is the time to buy. If you are a seller needing to sell, why wait, take that offer now, before home values go down in some areas. If you are buyer, you don't always need money to buy, that's if you have … (11 comments)
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fha mortgages: FHA mortgage : I told a client that they were approved tonight and I still cried !!!! - 01/15/08 07:19 PM
I have been doing this for over 15 years, lending money. I enjoy helping people sometimes achieving their dream of purchasing their first home or helping others just upgrading or refinancing. Doctors give life when delivering a new born and the parents are so thrilled, may it be their … (17 comments)
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fha mortgages: FHA MIP vs Conventional PMI -- What to look for & the meanings -- Part 2 - 01/12/08 11:56 PM
Mortgage insurance, may it be FHA or conventional, is not as confusing as it may seem. Especially if you have a qualified mortgage consultant that knows the ins and outs of mortgage insurance.
A quick glimpse of the different meanings :
FHA -- MIP = Mortgage Insurance Premium … (7 comments)
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fha mortgages: Good Faith Estimates -- Loan Officer or Realtor? - 01/04/08 07:30 PM
It's 2008 and you think you have seen it all. After 15 years in the mortgage business and as an FHA expert, I am baffled at what some states allow and I wanted to get everyone's opinion on a specific matter.
Just the other day, I had a consumer contact me after … (22 comments)
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fha mortgages: Google -- New Years Eve & Marketing...... - 01/03/08 09:44 AM
This will be short and sweet, since many of you know that I have been following Google, their logos, and marketing strategies for most of 2007. But Google launched their New years logo on January 1st, 2008 for just one day.
Take a look at the logo. Do you see that … (4 comments)
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fha mortgages: Refinance -- Adjustable Rate Mortgage increases soon on the horizon !!! - 12/28/07 12:18 PM
With the news of arms or adjustable rates increasing, many homeowners might be afraid to try in fear of what they have heard in the media. People telling you that certain programs don't exist anymore. But you don't know unless you try, right? But just be careful of lenders promising … (6 comments)
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fha mortgages: My Christmas Gift because of Active Rain !!!!! - 12/26/07 12:15 PM
Now, for many of you, you know that I am not married, nor do I have any kids. But I do have 2 great nieces and 2 great nephews. FYI.... with 2 more on the way, a boy and a girl.
But the last few days was spent running back and forth … (24 comments)
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fha mortgages: Google & the Holidays..... Marketing at its best !! -- Part 4 of 4 - 12/25/07 07:53 PM
Google finishes the year with a series of holiday logos. Here is their final product delivered on Christmas day. If you haven't followed this series, please read the blogs below.
Here are the sequence of the marketing efforts by Google in regards to their logo. As you … (54 comments)
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fha mortgages: Google & the Holidays..... Marketing at its best !! -- Part 3 of 4 - 12/24/07 07:20 AM
Google has just been very fascinating with their logos throughout the holidays, that's if you have been paying attention. I keep stating that we could learn so much from this. Some of you had replied with previous comments that you don't like change and that you don't see how it could … (12 comments)
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fha mortgages: Google & the Holidays..... Marketing at its best !! -- Part 2 of 4 - 12/23/07 07:38 AM
Happy Holidays from Google. If anyone watched the progression of Google's holiday logos, it was pretty cool to watch it unfold. If not, you can catch it here. Google & the Holidays..... Marketing at its best !! -- Part 1
The question here is, are the little guys in the picture … (12 comments)
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fha mortgages: Home Inspections vs Appraising the home - 12/22/07 09:53 PM
I have seen many people fail to realize the importance of a home inspection. A realtor or loan officer can't really tell you to get a home inspection or even not to get one. Desiree Daniels mentions that in here, Agents & Home Inspections - Laying the ground work … (16 comments)
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