Calling All New England Real Estate Professionals To This Special Event - 08/28/11 07:00 PM

Consider this your invitation to the biggest real estate business event of the year. Real estate business minds are meeting Monday October 3rd  from 8:00 AM to 6:00 PM at Lombardo's Conference & Function Facilities 6 Billings Street Randolph, MA 02368 for the Monster Recovery Tour, featuring guest motivational speaker Jairek Robbins.
This is an amazing opportunity to share ideas and learn from a power house panel of real estate professionals. It's an all day event capped off with a networking hour to discuss way to implement the wisdom of the day.
Schedule of Events as Follows:
9am-10am: General sessions with Jairek Robbins
… (5 comments)

GenGen Tour Inspires The Mortgage Buddy... Try This Great Idea for Your Clients - 08/26/11 10:59 AM

I attended the seminar, read the book, teamed up with an amazing buyer's agent, and put the plan into action. What transpired yesterday was more than a house warming party, it was a fun, personal ,relationship building experience.
I had recently attended a seminar by Michael Maher, the #1 best selling author of the book 7 Levels of Communication. Michael is a top real estate professional in the Kansas City area. He has built his business on cultivating long term relationships and connecting people. His nationwide tour Generation Generosity made a stop in Maine a couple of months ago and I was … (4 comments)

The Mortgage Buddy Rate Outlook for the Week of August 22nd 2011 - 08/22/11 04:11 PM
Mortgage Buddy Rate Outlook
This week looks to be more of the same choppiness in the stock market, with perhaps a little less volatility. There is a lot of continued uncertainty in Europe with their debt issues and the reality of a global slow down has pushed investors into gold and bonds. The silver lining in all of this is that we continue to have downward pressure on interest rates and they remain at historic lows.
There are a few economic data points this week to pay attention to:
Tuesday 10am New Home Sales: New home sales measure the number of … (1 comments)

Rent Credit as a Source of the 3.5% FHA Required Down-payment - 08/16/11 10:43 PM
This is the second installment of utilizing all of the approved FHA guidelines available. I mentioned yesterday http://actvra.in/gSf I want to make everyone aware of the many ways they can help their client with creative ways for coming up with the 3.5% down-payment required on a FHA purchase. Yesterday we talked about "sweat equity". Today we are going to discuss "rent credit".

Rent Credit as Described By FHA Guidelines:
The cumulative amount of rental payments that exceed the appraiser's estimate of fair market rent may be considered accumulation of the borrower's cash investment.
The endorsement package must include the
rent with option … (1 comments)

Using "Sweat Equity" to Fund Your FHA Down Payment - 08/15/11 02:51 PM
So many times we hear excuses why things won't work, and it's our job to present options that do work
This week I'm going to be showcasing different ways to meet your the 3.5% FHA mandatory requirement for down payment. There are many ways that we all know about but in a world of higher commodity prices and less in our paychecks, it's becoming harder and harder to save money to buy a home. My hope is that we can think outside the box and work to increase home ownership for hard working Americans who just can't save as easily. All of the … (5 comments)

We Could Gain or Lose 10% in the Market This Coming Week....... - 08/14/11 07:10 PM
Last week was absolute insanity in the market. Up down around. Trillions upon trillions of dollars of market capital was lost. The aftershocks of the debt downgrade, Euro debt fears, and the realization of an overall global economic slow down drove the volatility through the roof.
The fed last Tuesday vowed to keep the rates low until the middle of 2013. This was a change from what they had previously stated or didn't state with their "extended period language".
This week is loaded with economic data and we could be in a world of hurt at the end of the week … (3 comments)

Documenting the Transfer of Gift Funds for a FHA Loan - 08/12/11 11:53 AM
The lender must document the transfer of gift funds from the donor to the borrower.
 
The table below describes the requirements for the transfer of gift funds.
… (3 comments)

Tell Everyone About the Refinance Rates....I Want to Help - 08/10/11 10:21 PM
 Please Let Me Help You, Your Family & Your Friends Take Advantage of These Rates
John Saari "The Mortgage Buddy" 508-740-7445
What an absolute crazy week in the stock market and in the mortgage industry. The Fed said yesterday that they are going to keep interest rates low until the middle of 2013. That's absolutely fantastic news for the housing market. The hope is that the economy can grow itself back to dominance with more job growth, and at the same time keep the rates attractive enough to clear out some of this inventory.
It's also the best time ever to … (6 comments)

The Mortgage Buddy Rate Outlook for the Week Beginning August 8th - 08/07/11 09:04 PM
The Mortgage Buddy Rate Outlook for the Week Beginning August 8th
This is going to be one of those weeks for everyone who has ties to the financial industry in one way or another. Are we on the verge of a double dip recession? If we look at the earnings reports and jobs numbers, no. Even though the jobs numbers are anemic at best at least they are in the green. A little better than expected report on Friday gave the markets a collective sigh of relief, only to be followed up with a O NO, on the credit downgrade. Most … (0 comments)

Who Caused the Drop in Credit Rating? It Doesn't Matter.. - 08/05/11 09:59 PM
So today at around 130pm. The credit rating agency Standard & Poors sent over to the White House and the Treasury Department their report that they were to down grade the AAA rating of the US debt one notch. The treasury quickly reached back to S&P to dispute the method of calculation, but, even though S&P agreed they made an error they felt the downgrade was still warranted.
Yes this is the same rating agency that was one of the major contributers to the financial crisis of 2008. They would bundle just enough A paper mortgages with sub-prime mortgages to give them … (9 comments)

Fun Weekly Challenges to Build Your Business - 08/01/11 06:56 AM

I mentioned in a previous post that I'm not the "education coordinator" for my local BNI group. For those unfamiliar with what BNI is, it stands for Business Networking International. It's a group for like minded business professionals and business owners to meet once a week and exchange business ideas, and hopefully referrals. It has it's own little chapter government with a President, VP, Treasurer, etc. As the education coordinator I talk about ideas to build business and referrals.
I have decided to make my education minute a weekly challenge or task for my chapter members and I have taken the … (2 comments)

The Mortgage Buddy Rate Outlook for the Week Beginning 8/1/11 - 08/01/11 05:43 AM
The Mortgage Buddy Rate Outlook for the Week Beginning 8/1/11
Rates are going to revolve around two major factors this week. The Debt Ceiling talks and the July Unemployment report on Friday. There was major debate over the last week as to what was going to happen to the bond market with the uncertainty of how quickly Washington was going to get their act together and raise the debt ceiling. Instead of mass exodus from treasuries we saw just the opposite, a flight to safety on the heels of a week GDP report on Friday. The economy is moving a long … (0 comments)

 
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John Saari "The Mortgage Buddy"

Worcester, MA

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Office Phone: (508) 740-7442

Cell Phone: (508) 740-7442

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I decided to start writing this blog to be an education resource to my referral partners and my clients. We live in a new world of mortgage lending in which we need to be up to date on the changing underwriting guidlines and mortgage products offered. It's through these updates that we will all be able to provide our clients with the customer service they derserve and expect. It's my belief that this industry insight is what will take our business to the next level. Education = Confidence


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