equity lines: The Economy's Silver Lining For Real Estate - 01/22/08 08:11 AM
It has been said that you should always look for the silver lining. That might be hard to do right now for some as we appear to be looking down the barrel of a rec..., wait, let's just say leaner economic growth than previously experienced. This is an election year, 'et's … (3 comments)
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equity lines: Haven't Applied for a Loan in a Few Years - You May Have Some Surprises - 01/11/08 11:57 PM
I had an old neighbor email me today asking about her financing as she gets ready to buy a home. The answers I gave are pretty vanilla, but for her they are probably shocking because she hasn't applied for a loan in 3 years. She inquired about doing an 80/20 to … (2 comments)
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equity lines: 2008 Nashville Market Outlook - 01/07/08 03:12 PM
As we get rolling into 2008, the best sources are indicating that the Nashville market is extremely healthy. According to Moody's Economy.com, Nashville's housing market is "faring better than the markets of other larger metro areas and it maintains a positive outlook." One of the reasons for the market's good standing was … (10 comments)
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equity lines: Brokers Not Responsible for Mortgage Mess? - 12/17/07 03:13 PM
On December 16, 2007, the Tennessee Association of Mortgage Brokers' president, Brian Short, was quoted in The Tennessean as saying "I can't see how mortgage brokers are responsible for the increase in foreclosures." Yet, one of the largest lenders with sales channels in both direct sales and via brokers has stated … (6 comments)
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equity lines: Rate Watch - 12/14/07 04:34 PM
For 12/14/2007...
30 Yr Fixed Conforming - 6%
15 Yr Fixed Conforming - 5.75%
5/1 LIBOR ARM - 6.125%
30 Yr Fixed Jumbo - 6.375%
30 Yr My Community - 6.875%
30 Yr Fixed Interest Only - 6.375%
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Kevin Michelson, CMPS, MBA is one of the few mortgage originators in the state of Tennessee to hold the prestigious designation … (0 comments)
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equity lines: FHA Changes Coming for Early 2008? - 12/14/07 11:50 AM
With Subprime lending virtually non-existing, expanding FHA will give the mortgage and Real Estate markets a nice shot in the arm.
FHA Loan Expansion Heading to a Vote
Washington Post (12/14/07) P. D1; Cho, David
Senate legislation to revamp the Federal Housing Administration mortgage program has finally moved out of committee and … (0 comments)
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equity lines: Being a Home Buyer Today is Like Being at a Middle School Dance - 12/11/07 08:32 AM
OK, let's be honest about our Middle School experiences. There probably isn't a time in life were being like everyone else is as important as Middle School - just fitting in is an accomplishment. So when the school dance came around, you probably did what just about everyone else did - … (1 comments)
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equity lines: Rates Too High Part II - 12/05/07 02:05 PM
This one shows the history of rates since 1790. Rates too high? Are you kidding me? Get some perspective...
Provided by Jim McMahan, Mortgage Market Guide
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Kevin Michelson, CMPS, MBA is one of the few mortgage originators in the state of Tennessee to hold the prestigious designation of Certified Mortgage Planning Specialist (CMPS). He … (2 comments)
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equity lines: Rates Are Too High to Buy Now?!?! - 12/05/07 01:56 PM
I recently had a buyer choose to not buy a home because "rates were too high." Certainly an excuse but here's some evidence to fire back at someone if you get the same point of resistence.
Provided by Jim McMahan, Mortgage Market Guide*******************
Kevin Michelson, CMPS, MBA is one of the few mortgage originators … (3 comments)
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equity lines: Mortgage Language 101 - 12/05/07 01:50 PM
Lenders use various indices to adjust interest rates as economic conditions change over time. Lenders add a certain number of percentage points, called a margin, to the index to establish the interest rate borrowers must pay.LIBORLondon Inter-Bank Offered Rate (LIBOR)
LIBOR is the rate of interest that member banks of the British … (2 comments)
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equity lines: Planning for Elderly Parents' Care - 12/05/07 11:41 AM
As our parents grow older and their life expectancy rises to previously unseen levels, we are faced with a growing dilemma: how to finance the higher costs associated with assisted living facilities, in-home care and medical expenses without going broke.We all want to care for our loved ones, but we also … (1 comments)
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equity lines: Thinking of Investing In Real Estate? Read this first! - 12/05/07 11:12 AM
Are you a speculator or investor? Great fortunes can be made and lost in real estate. As a Certified Mortgage Planning Specialist, I am committed, qualified and equipped to help you implement the seven keys to profitable real estate investment: Determine Level of Liquidity - liquidity is the ability to quickly … (0 comments)
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equity lines: 20 Terms You Must Know Before You Sign for a Mortgage - 12/05/07 11:07 AM
Buying a home is a major achievement in most everyone's life. Pride of ownership, tax breaks, equity and the ability to increase your wealth and net worth are just a few of the many benefits you'll enjoy with your new home. Your home purchase may also be one of the largest … (0 comments)
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equity lines: Improving Your Credit Rating - 12/05/07 11:04 AM
As a Certified Mortgage Planning Specialist, I am committed, qualified and equipped to help you improve your credit rating. Your credit scores usually determine the price you pay for your money (your mortgages, your auto loans and leases, your credit cards, business loans, etc.).Perhaps the most significant part of your credit report … (0 comments)
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equity lines: Preparing for Your Children's College Education - 12/05/07 10:41 AM
College costs continue to rise, but a college degree remains an excellent investment. With the proper planning, most families can find a way to afford higher education.You should not try to implement a quick fix to financing a college education. This only results in straddling you or your children with the … (4 comments)
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equity lines: Reducing Debt - 12/05/07 10:37 AM
One commonly overlooked form of "predatory lending" is when banks and mortgage companies repeatedly encourage people to take out larger mortgages and home equity loans for "debt consolidation" or to spend more by basically consuming your home equity. This often results in spreading car loans and credit card balances over 30 … (2 comments)
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equity lines: Refinancing A Mortgage - 12/05/07 10:34 AM
Here are some tips and strategies that save you money when you are in the market to refinance your home loan. Don't get caught in the trap of consuming your home equity by getting deeper into debt to go on vacation, purchase unnecessary items and spread out your car loans and … (0 comments)
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equity lines: Financing a New Home - 12/05/07 10:28 AM
There are many pitfalls you can avoid when you are in the market to buy a new home. Here are just a few tips and strategies to help you prepare for success: Know your credit score. You may be able to get a better mortgage rate and more favorable loan terms … (0 comments)
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equity lines: The Fed Rate Cut - What it Means for You - 12/05/07 10:22 AM
… (2 comments)
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equity lines: What is Mortgage Planning? - 12/05/07 10:16 AM
Most American's spend more time planning their vacation then they do planning their mortgage - usually their largest debt.
While I'm passionate about Mortgage Planning I recognize that it isn't the most thrilling activity for most people. But when we consider the current status of the mortgage market and the huge numbers of foreclosures of home owned by … (3 comments)
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