Will the 30 year mortgage become extinct? - 06/30/10 10:07 AM
When you look at the cost of a 30 year mortgage vs. a 15 year mortgage you immediately notice a very large number. That would be the number of $$$'s a 15 year loan can save when comparing the lifetime of each loan. Made popular decades ago, the 30 year mortgage was poised to put Americans in homes by offering low monthly payments. 
Just think about it....  30 YEARS  
Because a 30 year loan is so commonplace in today's society many of us lose sight of the fact of just how long 30 years is. And when that mortgage gets … (2 comments)

Hey! Look Me Over! - 06/29/10 09:57 PM
 
            ActiveRain REALTOR® Patricia Kennedy offers up excellent suggestions                                                             regarding questions to ask when choosing a REALTOR®. 
 
 
Via Patricia Kennedy (Evers & Company Realtors):
Every how-to-buy-a-house book I’ve seen, including The Irreverent Guide to Real Estate, suggests that, somewhere at the beginning of the process, you find an agent to represent you.  And part of that search involves interviewing several agents.
Once you start looking for … (2 comments)

Annapolis Maryland Links of Interest - 06/29/10 11:14 AM

Annapolis Visitors Guide  A great site to discover the ins and outs of Annapolis. Get information on sporting events, restaurants, shopping and special places to visit.

Annapolis Market Trends – monthly video from MRIS Monthly video designed to deliver a quick-fire engaging look at monthly real estate market trends within Anne Arundel, Baltimore, Carroll, Harford, Howard Counties and the City of Baltimore. Provided by MRIS via their youtube.com channel.
Maryland Weekly Fishing Report Chesapeake Bay Fishing Report updated weekly. Discover where the big rockfish are being caught, get fishing license information, find out about the fishing challenge and look at the calendar of … (0 comments)

Have You Googled YOU?? - 06/28/10 11:48 PM

Via Cara Marcelle Mancuso (Tierra Antigua Realty):
Have You Googled You?You might be surprised what turns up.  Sure, you've registered on Facebook, Twitter, MySpace and maybe a few business accounts.  And, you have your web page.  But there are other sites that might just have your information too.  Information you didn't realize was out there.A story on AOL caught my interest today and I wanted to share some high points in summary.
The official term is "aggregator".  An aggregator, according to Wikipedia, is the name given to a web site, or software that collects, filters and organizes specific information, in this case, … (7 comments)

Foreclosure alternative picking up steam - 06/28/10 05:01 PM

 
 deeds in lieu
 
Understanding a deed in lieu is fairly simple. You give your lender the house and they call it even. No more balance due on the loan. 
Advantage to the borrower -- immediate release of all indebtedness  
Advantage to the lender - lower costs vs. a foreclosure or bankruptcy
In an article by Kenneth R. Harney of the Washington Post he tells us this transaction could be wrapped up in as little as 30 to 45 days. You can read his article in the Washington Post.
HUD also has a FAQ page on their website with some great information. … (0 comments)

Making Home Affordable - Refi Plus do you qualify? - 06/28/10 10:51 AM
 
Making Home Affordable... Do you qualify for the President's Making Home Affordable Initiative? DU Refi Plus is a program that allows refinancing up to 125% of the value of your home. Qualification for this loan is easy. Sometimes you may even get an appraisal waiver. This program is misunderstood and under utilized. Your loan must be owned by Fannie Mae to qualify. Rates for this program are very low. Find out if you qualify today. Do not delay as program guidelines change often.  To find out if Fannie Mae owns you loan click here.  also, check out this informative video … (2 comments)

Your Buyer Broker's Job Description - 06/28/10 10:33 AM

Via Patricia Kennedy (Evers & Company Realtors):
Your Buyer Broker's Job Description
As with real estate listing services, there are a lot of price/quality options for people looking to buy a house or condo.  There are no hard and fast rules about what agents do and how much they charge.  But here are some of the differences between the services you can expect to be provided by the bare bone companies (limited service agents) and full service buyer brokers.
The Buyer Interview:  this is a meeting where you and the agent meet each other, size each other up, and decide whether or … (0 comments)

It is not too late... - 06/28/10 10:00 AM
 
Have you jumped on board the refinance bandwagon yet?  Well guess what - you haven't missed out yet. Unlike other recent rate dips that only lasted 24 - 48 hours where so many consumers simply were too late arriving to the party, this current rate dip has lasted a bit longer.  5 top reasons to consider a refinance - 1) - you have an adjustable rate...Listen up people, if you are the owner of an adjustable rate mortgage and have not looked into refinancing you are playing Russian Roulette. Interest rates are so low that is just not worth the … (2 comments)

Annapolis Maryland music festival - Eastport A Rockin 2010 Saturday 6/25 - 06/25/10 05:40 PM
Great music festival this weekend in Annapolis, Maryland. 
Saturday June 26th -  27 Bands...  
Created as a way to expose local music to a larger audience, Eastport a Rockin' now draws attendees from throughout the neighborhood and across the region and is known as the local music festival of the summer. Three stages now host 27 bands and music remains a key component of Eastport a Rockin', as up and coming local bands with a wide range of styles display their talents. 
I have attended this music festival many times. Multiple stages on the streets of Eastport in Downtown Annapolis … (0 comments)

Networking on Active Rain, Twitter, and the Spider Web Effect - 06/24/10 05:50 PM

Via Cara Marcelle Mancuso (Tierra Antigua Realty):
Networking on Active Rain, Twitter,  and the Spider Web Effect
 
I had the pleasure of writing a review for Soci@l this week and the comments I've received so far have been invaluable.  After just 17 days as a rainmaker, I took Soci@l to heart and knew I had to start making inroads with an online presence.
One of the newest things I’ve come across is this blog, The MOST IMPORTANT Twitter Blog Ever??!!! , written by Michael Collins - SFR - Broker - @RockRealty.  He makes a good point in the Twitter scene.  There … (5 comments)

The Twitter Experiment - Don't Miss Out! - 06/24/10 08:07 AM
Want to capture high quality Twitter followers? 
I am talking about followers that have the same relevant content as you. Here is a simple task that could be a huge lead source to you and result into many closed deals. Here is an experiment thought up by an ACTIVE RAIN member. I believe it could be extremely successful but you have got to participate. 
Regardless if you are in the REAL ESTATE , LENDING , STAGING , TITLE or any other related industry, building a network is one of the keys to success. Building a relevant TWITTER network can provide the positive synergy … (5 comments)

Thinking of walking away? - The price to pay is getting steeper - 06/23/10 07:53 PM
Fannie Mae is set to deny "strategic defaulters" who walk away from their mortgage a loan for seven years.
FHA (Hud) is adopting the same plan. 
Is this good or bad? Well.... I say if this policy was made effective years ago, long before any bank bailouts it makes damn good sense. But it seems a bit unfair that big banks can be bailed out and home owners can be penalized. 
All I witness over and over again is finger pointing... You should have never got this loan, you overspent, you used your home as an ATM and on and on … (3 comments)

Is housing in for a double dip? - 06/22/10 07:09 PM
Check out this video from Meredith Whitney on CNBC. Awesome report, no spin, just the facts...
I am in the mortgage business...
I talk with clients every day...
I pull credit every day...
Doom and gloom is no good for anybody but............. I think she is spot on with her thoughts. Is a second rescue plan on the way from the president? Sure hope so. 
Strap on your seat belts people... we ain't done yet
… (2 comments)

iphone 4g - am I obsessed or what? - 06/21/10 03:39 PM
I typically do not obsess about much but the new iphone has really got my juices flowing... They say this will be the most significant upgrade to the iphone ever.... and I think I am buying into the hype.... what a sucker huh?....
You see, my current iphone is my best friend and I would be completely lost without it. Two years ago I dumped my trusty blackberry service of many, many years in favor of this sexy new device and we have been attached ever since.
 
It is the lifeblood to my personal and business life.
It is my … (11 comments)

They're Coming to D.C.! - 06/21/10 11:47 AM
Great tool to see if your area is gaining residents or losing them.
Thanks to Brian Block for informing me of this high quality tool. Check it out... it could tell you a lot of information of what to expect in the next several years.....
Via Brian Block -- Northern Virginia & D.C. Real Estate (RE/MAX Allegiance, Managing Broker/Branch Vice President):
Forbes has an interesting interactive mapping tool that lets you see how many people are moving in or out of any county or area of the country.  I stumbled upon this or rather was directed here by Lani Rosales of Agent Genius … (0 comments)

FNMA Pushing Lenders to Pull New Credit Reports Right before Closings! - 06/21/10 08:39 AM
I have posted about this topic in the recent past but I felt that Drew Sygit did such a great job on his version I felt the need to pass this along.
Via Drew Sygit (The Lending Edge) Real Estate Financing Expert (The Lending Edge):
FNMA Pushing Lenders to Pull New Credit Reports Right before Closings!

The lending world just keeps getting tougher.
As of June 1, 2010 FNMA guidelines now require lenders to pull a new credit report right before closing a loan in addition to the credit report pulled at application.
This new required practice will take some time for homebuyers … (3 comments)

Alligator sighting in Annapolis, Maryland - 06/18/10 09:53 AM

 
Three men working on boats just off the South River in Annapolis, Maryland claim to have seen an alligator.  
At first they thought it was a log until it started moving. It was a brief encounter. Apparently they had a few more glimpses of the creature but that was about it. 
As you could imagine, speculation has gone crazy on what it is and how it got there...
Did someone dump a Florida gator in the Chesapeake Bay?
Was it a snapping turtle on steroids?
Were the men drinking heavily?
 

 
 
You can read the local … (5 comments)

Top 10 Priciest Waterfront Summer Homes In Annapolis Maryland - 06/17/10 12:01 AM

Via Stephen Howell, Associate Broker, Annapolis, Maryland (Coldwell Banker Residential Brokerage):
Top 10 Priciest Waterfront Summer Homes In Annapolis Maryland
The luxury waterfront real estate fire hose is now all but a trickle as prime properties that once would have sparked multiple offers and bidding wars continue unsold.  The most expensive of the top 10 homes is 1514 Whitehall Road with an asking price of $11,900,000 and the least expensive is 226 Wardour Drive with an asking price of only $4,850,000.  Since the economic shift in 2008, some of these homes have now been on the market for more than a year … (1 comments)

Residential Home Resale statistics for Anne Arundel County- May 2010 - 06/16/10 11:56 PM

Via Ellie McIntire Real Estate in Howard County Maryland (The McIntire Team of Long & Foster):
 
Sales in Anne Arundel County for the month of April 2010 have greatly increased since a year prior, increasing by over 17%. Homes are selling quicker, too, though in general at a lower price. Sales also increased compared to last month by around $10 million.         

 
If you or someone you know is thinking of Buying or Selling property in Howard County, Baltimore County, Baltimore City, Harford County, Anne Arundel County, Carroll County, Montgomery County or Prince Georges County. - or if you … (1 comments)

Please Help Find Missing 7 yr. Old – FEATURE THIS BLOG!!!! - 06/16/10 11:51 PM
Please pass this along to all.....
Via Dean and Sonia Carver (United Brokers Group/Carver Home Team):
We know this blog isn't about real estate related per se, but who has a better network than Realtors to get the word out about something? Seven year old Kyron Horman, the son of a former co-worker of Sonia’s, disappeared without a trace from Skyline Elementary School in Portland, Oregon 11 days ago. Authorities find it very unlikely that he wandered off by himself. Somebody, somewhere, knows something. Please keep your eye out for him and if you live in Washington or Oregon think about who and … (0 comments)

Sell Your Crofton Home on HGTV - 06/16/10 11:47 PM

Via Margaret Woda, Maryland Real Estate Blog (Margaret Woda (Long and Foster, Crofton MD Real Estate)):
No kidding... HGTV is planning to kick off the second season of My First Home Sale in the fall with an episode filmed right here in the DC area.  And that includes Crofton, Maryland - easily within their limit of 90-minutes by car from the target city.

They're looking for "fun, high-energy people who are just starting the process of selling a home for the first time" to share all the "trials and tribulations, stress and success of prepping for sale, pricing, negotiating and ultimately … (0 comments)

Foreclosures in Gaithersburg MD 20878, 20877 - 06/16/10 11:46 PM

Via Fernando Herboso Real Estate Maryland, DC and Virginia (PrimeTime Realty Homes-Foreclosures in Maryland,Rockville MD):
Foreclosures in Gaithersburg  MD 20878, 20877 Foreclosures in Gaithersburg  MD 20878, 20877

 
… (0 comments)

Don't Let The Bad Apples Spoil The Bunch - 06/16/10 05:10 PM
Gary Woltal offers up solid advice we should all live by.
How often do we see this? Too much huh?
Stay the course.... Thank you Gary
Via Gary Woltal - Associate Broker REALTOR® Dallas Ft. Worth (Keller Williams Realty):
In real estate offices across the land and in companies, and organizations and all sorts of teams and even family relationships, you are eventually going to have to confront the bad apples in the mix. Work hard and
Don't Let The Bad Apples Spoil The Bunch.
In nature, in a barrel of good apples, with just ONE rotting apple seated up against the bunch too … (1 comments)

Washington DC - what's all the buzz about? - 06/16/10 02:20 PM
I have spent most of my life living in the Washington, DC suburbs, both in Virginia and Maryland.  I was at RFK during the glory days of the hogs, the fun bunch, the diesel and on and on... I even remember attending washington bullets playoff games at capital center. The same buzz is in the air again. No kidding... It really is...   And it is because of one person and his name is Steven Strasburg. The night of his opening game I was receiving texts and emails from people I haven't talked with in years... "are you watching the game?" … (2 comments)

Definition of Ambient Awareness. Something I learned at Raincamp DC - 06/16/10 12:00 PM

Via Lanre"The Real Estate Farmer" Folayan DC & PG County MD homes for sale (Exit Premier Realty-Upper Marlboro,MD (PG County MD Homes)):
    Definition of Ambient Awareness. Something I learned at Raincamp DC. Two days ago,I wrote a blog a Speechless Sunday blog. From some of the comments made,Ambient Awareness is not a term that they know about it. I didn't to. Funny thing is we know what Ambient Awareness is,we just think that we don't know what it is-Funny huh!   
 
Microblogging-Twitter,Facebook,Youtube and all the other social media sites that allows us to leave short sentences,post an image or embed … (1 comments)

FHA Home Loans - FHA Monthly Mortgage Insurance to increase - OUCH - 06/14/10 07:49 AM
Great information from the FHA Expert himself.
 
Thanks for sharing and allowing the re-blog Jeff Belonger.
Via Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages - USDA loans (Infinity Home Mortgage Company, Inc):
 
The cost of FHA loans could increase before the end of the year is over with.  Right now, depending on your LTV (loan to value), the FHA monthly mortgage insurance is either .50% or .55% of the base loan amount.  We could see increases any where from .90% to 1.55%. That is a significant increase. Michael LaFido gives more details in this post … (3 comments)

raincamp brings it all together - 06/11/10 09:41 AM
 
 
 
Awesome day yesterday at raincamp DC - 
If you have not attended a raincamp let me tell you this... The energy is contagious. Very contagious.
Can't wait to put all the new knowledge to work. 
And the camaraderie was incredible as well. I felt as if I was talking with people I have known for years... I suppose I have huh?

I plan on wearing this my wrist for a while as a reminder to stay on task. 
I saw the success stories with my own eyes and learned some new tricks as well. For the beginner, raincamp should be … (1 comments)

Credit Alert For Mortgage Applications After June 1, 2010 - 06/01/10 09:54 AM
MUST HAVE advice regarding mortgage transactions.....  this is here now....  
EDUCATE your clients on the content of the post below... great information... could be the difference between and deal or a last minute turn down....
Via Alan Gross (PrimeLending):
Credit Alert For Mortage Application After June 1, 2010
All lenders dealing with Fannie Mae and Freddie Mac mortgages (conventional. Conforming loans, NOT an FHA or VA loans, as of yet) must review your credit again a few days prior to closing. This is being done to make sure that you still qualify for the loan that was previously approved, in other words, … (1 comments)

top 3 qualities a loan officer must have... - 06/01/10 09:10 AM
It is my belief that the traits realtor's and consumers look for in loan officers have shifted in the past few years.
In the past, a friendly smile and reputable company seemed to land originators deals. ahhhh, the mortgage and real estate heyday.....
Below are my thoughts on the top three traits loan officers must have in today's mortgage market. I value these qualities with equal importance but if I had to put them in order of importance here goes...
 
1) - knowledge - today's loan officer must be a product expert. Period! Gone are the days of slick smiles and "I'll make it … (2 comments)

 
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Lewis Poretz

Nationwide Mortgage Branch Opportunities

Annapolis, MD

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Address: Annapolis, Md, 21401

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