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lending: The BIGGEST misconception in real estate lending. - 12/16/08 02:19 PM
I always here this a couple of times per year, "We have $500,000 worth of equity in our home, but we only make $50,000 per year.  We want to take out $400,000 worth of equity in a cash out refinance.  Can you help us out?"(The numbers obviously vary, but for the sake of argument, they are somewhat exagerated in this example)
Nope!  I sure can't.  The biggest misconception in real estate lending is that you are not borrowing money using your house as collateral, you are borrowing money against your income.  More specifically, you are borrowing money against your ability to … (1 comments)

lending: Question of the Day!!! - 12/05/08 11:12 PM
I had a friend that I hadn't seen in a while run into me at the supermarket in our neighborhood.  We proceeded to talk a little bit about what each other's been doing since the last time we talked. 
And then it happened....
"Are the banks lending money again?" he asked.
As a mortgage planner, I was thinking, "Holy crap.  Is he serious?"  As it turns out, he really was.
So why is this such an unbelievable question from someone in my line of work?  Becasue perception is reality people.  If they media says so, it must be true, right? 
Wrong!
… (7 comments)

 

Jeff Trevarthen

Campbell, CA

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Accessbanc Mortgage

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