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mortgage loans: Transparent mortgages Plano Texas - 01/22/10 10:13 AM
Anyone searching for a home mortgage in Plano, Texas? One of the best mortgage professionals is located in Plano, Texas because he is all about making sure the borrower is in complete control of the pricing on his mortgage. To do this he uses RateWindow which requires mortgage professionals to completely disclose all of the fees up front, including what he will charge to provide the service.
When I say complete disclosure, I mean the borrower will see all third party fees, which will be passed through at cost, NO MARKUP. They will also see all of the various interest rates … (3 comments)
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mortgage loans: Is there a missing puzzle piece in the new GFE? - 01/05/10 03:11 PM
What's missing from the new GFE? Transparency for the borrower is the puzzle piece that is missing. Even though Washington's intent was to make the mortgage transaction more transparent, they have missed the mark again.
The new GFE does help borrowers compare one lender to another - IF they are requesting the same lending product from both lenders. Something that most borrowers wouldn't know to ask for.
The new GFE may save the borrower a few bucks on junk fees and unnecessary lending charges, but what it doesn't do is prevent loan officers from hiking up the interest rate to increase the … (0 comments)
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mortgage loans: Job Growth Increase - Am I Crazy??? - 11/25/09 11:32 AM
The recent Labor Department's October job report leads me to believe that a forecast that more jobs are right around the corner might seem over zealous...given our double digit unemployment rate. It also is quite optimistic given the significant NonFarm Business Sector productivity gains. Productivity increases, however, can only go so far because you can't continue to squeeze current workers to produce much more than they currently are. As has been said, you can't squeeze blood out of a turnip. Inceased productivity for the last quarter was up 4% even though hours worked was slashed by 5%. If we have any growth in the … (2 comments)
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mortgage loans: Washington Meddling Again in Mortgages - 10/29/09 04:03 PM
Capitol Hill is once again working on financial institutions to make it easier for people who can't afford the mortgages they agreed to pay to stay in their home even longer by forcing lenders to "CRAMDOWN" the amount of the loan or extend the length of time a borrower has to pay. See Business Week article October 19, 2009 entitled "Return of the Mortgage Cramdown?"
Several proposals are floating around Washington that would force lenders to pause before foreclosure and offer a break if they qualify under a Treasury program. Another proposal would require mediation before being allowed to foreclose while … (2 comments)
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mortgage loans: Are you crazy? Stop paying your mortgage is "strategic"? - 07/20/09 11:48 PM
I, like many of you out there, have children. Children who have been of the opinion from quite a young age that-too often for my taste-they just don't want to do certain things. Like pick up the thousands of pairs of shoes that they leave around the house over which I undoubtedly end up tripping. Now, it's not that they can't do such things, but for a plethora of reasons that I do not understand, they just have made up their minds that they won't. Even when every indication is that the consequences for their inaction will be less than desirable-both … (42 comments)
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