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refinance: Always a Skeptic? This one finally saw the light. - 08/21/09 09:02 AM
I have this one client who is very loyal, but an incredible skeptic. I have been telling him for at least two years about a product I offer called the Money Merge account that would enable him to pay off his mortgages in a fraction of the normal time. My client is extremely smart, very financially savvy and was convinced that this wasn't possible. He eventually consented to a presentation, after which he admitted that he could see the benefit of the service, and how it could save him much more money than traditional bi-weekly payment programs, debt rolldown programs, and the … (1 comments)
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refinance: Interest Rate Alert - 12/16/08 05:14 AM
If you've been following interest rates recently, you may have seen that they are looking GREAT right about now. And, while I can't quote an exact interest rate for someone without seeing an individual's full financial picture (credit, income, assets) by means of an application, we have actually recently been able to quote rates of around 5% for well-qualified applicants looking to purchase or refinance a single-family home, and we see the potential for those rates to possibly dip further. That said, now is an excellent time for many individuals to purchase or refinance -- allowing them to possibly get more home for … (1 comments)
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refinance: The "Short Refinance" - A Real Live Example - 11/30/08 09:25 PM
Picture this scenario - client purchased a home nearly two years ago with 100% financing and a 2/28 adjustable rate mortgage, expecting to refinance into a fixed rate before the first adjustment period. Fast forward a year and some change, and the market TANKS, so now he's upside down by $70K and the refinance he had planned to do is completely out of the question. Yet, he is living on a bit of a tight rope, and when his rate adjusts, there is no way he's going to be able to afford the additional $300/month that will be required.
This is … (8 comments)
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refinance: Alternatives for Avoiding Foreclosure - 11/19/08 04:37 AM
In the current real estate market, I believe it is a moral imperative that individuals armed with real estate/mortgage knowledge use it to help homeowners facing hardship to save their homes. There are several options that may be available to these homeowners, including loan modifications (changing the terms of the loan without refinancing), loan novations (a form of loan modification for those with arrearages), FHA Insured Hope for Homeowners loans (which allow homeowners to refinance and get a principal reduction, in exchange for allowing the government to share your profits upon the property's eventual sale), and "short refinances" (principal reductions for those who have no or minimal late … (0 comments)
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Kimberly Malone
Baldwin,
NY
More about me…
Signature Property Consultants
Address: 575 Hempstead Turnpike, Suite 200, West Hempstead, NY, 11530
Office Phone: (516) 747-3948 x 1007
Cell Phone: (917) 554-0925
Email Me
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