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refinance: Adventures in Lending: Sand Shark in the Desert - 11/23/10 10:11 AM
~ Sand Shark ~
Planning for the unexpected
I'm doing a refinance for a borrower, and the property appraised at $328,000. That's less than the owner had hoped for, but just fine for the $172,000 refinance.
Even so, because the property is not on a paved road, I made it a point to drive out and see the neighborhood for myself. This is something I recommend for any lender because of the difficult real estate market that's our reality right now.
Eyeball the property before your appraiser does. It will give you an idea as to what problems may crop … (12 comments)
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refinance: Vacation Home Rentals: It Can Be Downright Spooky In The Desert At Night... - 10/26/09 11:28 PM
I looked out the sliding glass door, and these two eyes glowed at me out of the darkness.
Grab the camera.
Camera out of the case.
Flash on. ISO Sensitivity, 800.
The eyes disappeared, leaving only inky blackness. Had it left? Perhaps it only looked away?
Sneak the sliding door open quietly.
Step out on the ramada.
Camera on.
The eyes appeared again out of the darkness, immobile, fixed on me.
Zoom in on the subject. Flash!
This mule deer doe was munching on my neighbor's rosebush. She wasn't spooked by the flash nearly as much as I was spooked … (18 comments)
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refinance: Mike's Forecast: (February 24, 2009) Strike While the Iron Is Hot - 02/24/09 10:11 AM
We all make business and personal finance decisions every day. What to buy, what not to buy. What to put off, like replacing the tranny after 130,000 miles on the Ford Explorer.
If you're making a decision on whether to (1) buy a home, or (2) refinance the one you have, here are a few bullet points to help you decide between sooner and later.
Refinance
The ACORN billions are likely to be spent politically. "Freeze foreclosures." That's not a good prospect, because it will prolong the inevitable "bottom." Home prices continue to decline because of uncertainty in the market, and … (13 comments)
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refinance: You Can Still Refinance Your Manufactured Home! - 10/17/07 11:44 PM
Fannie Mae guideline changes in the last 24 months have made it more difficult to refinance manufactured homes. They have not made it impossible. Call me.
In order to qualify for a conventional loan on a manufactured home, here's what you need to keep in mind:
The home has to be a double-wide at minimum. Singlewides and singlewides with site-built additions are no longer eligible for conventional loans. The home must have been manufactured after 1976. There's some dispute about the actual date requirement. Countrywide's guidelines say that the home must have been manufactured after 1975. The underwriter, however, said the guides … (7 comments)
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Mike Jones
Tucson,
AZ
More about me…
SUNSTREET MORTGAGE, LLC
Address: 2840 E Skyline Dr, Suite #230, Tucson, AZ, 85718
Office Phone: (520) 344-6943
Cell Phone: (520) 349-9090
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