money saving tips: Countrywide owes refunds to 4,800 NC customers - 12/05/08 07:40 PM
Countrywide Settles Claim with 4,800 of Banks for 15.4MM
Raleigh, NCRicardo CobosMortgage Banker
Countrywide Mortgage settled a claim today with the North Carolina Commisioners of Banks without admitting wrongdoing. The claim alledged that the California lender had overcharged mostly First Time Home Buyers who obtained Home Equity Lines and charged fees that were disallowed in North Carolina.
By Countrwides Estimates, 4,800 North Carolina borrowers will share in the 11.5MM, another 2MM will go to homebuyer education classes and another 900m to the Nationwide Mortrgage Licensing System to help states improve the regulation of mortgage lenders.
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money saving tips: Jesus in the car - 03/21/08 03:17 PM
For those of you who haven't heard the incredible story of the 92 year old woman who repelled a would be attacker with...Jesus. This Good Friday is a good time to remember what Jesus did for you and me.... … (3 comments)
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money saving tips: Did you Miss the Boat? It's coming back - 02/28/08 08:40 PM
Monday January 28th; Martin Luther King Jr. Birthday. Financial Markets in America were closed in observance.
Overnight Markets Crash & Burn
London and India’s Financial markets lost 7 & 7.5%. Record losses for both. Had those losses been in American on the Dow Jones Industrial Average we would have had to seen in excess of a 900 point single day drop, worse than we have seen even after the 2001 terror attacks on 9/11 in NYC.
Speculation abounded that had the US markets been open, our general optimism would have prevented the bloodbath. Other Asian markets fared just as bad.
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money saving tips: Tax Tips; Mortgage Write offs to Remember - 02/27/08 11:38 AM
Write-offs to Remember Deductions in the Loan Process
Write-offs are the government's way of rewarding taxpayers when they've done something the government likes. And to judge by the write-offs, the government likes it when people borrow money to buy a house. There are write-offs aplenty, many of which people often forget. Make sure your clients take advantage of every break the IRS will give. Here are a few they tend to forget: Points: According to the IRS, origination fees charged as points must be paid for the use of money, (for example, to obtain a lower interest rate) in order to … (4 comments)
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money saving tips: FHA Rates better than Conventional? It's true, by almost .250! - 02/25/08 08:11 PM
I know it sounds hard to belive but I promise it is true. A quick survey of the top commoercial banks and their wholesale rates resulted in FHA Fixed rate mortgages are a better buy for the average consumer with a btter rate by almost .250 better!
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money saving tips: Five Reasons to Refinance Your Mortgage - 02/25/08 01:08 PM
Five Reasons to Refinance Your Mortgage There is an old adage in the mortgage business that states that if you can improve your interest rate by at least two percentage points, then it is a good time to refinance. While that may work as a general rule of thumb, the truth is that there are many reasons to refinance. Here are a few:
Lower your interest rate.
Securing a lower interest rate is one of the top reasons for refinancing. This can make a big difference in your monthly out-of-pocket costs for housing and save money on financing fees.
Build equity … (4 comments)
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money saving tips: Can't Afford to Fly? Cheap Alternatives for Internt'l Travel - 02/22/08 07:31 AM
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money saving tips: Why are rates in the Internet Always Lower? - 02/09/08 01:27 PM
Saturday, February 9, 2008
Why are the rates in the Real Estate Section of the newspaper .25 - .50 percent lower?
That is the question I was recently asked by a customer. To him I responded; "that's why we call it the liars section". If you advertise in that section to draw business, clearly you are selling on rate. We have trained a consumer to ask what the rate is instead of "What is the APR" you see, if all you have to sell on is rate, there is apt to be someone above you on the list and someone … (4 comments)
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money saving tips: When is the best time to lock your loan? TOMORROW! 2/6/08 - 02/05/08 10:55 PM
OK folks, for those of you that know better than the experts...dont read any further.
For those of you who are looking for some advice on whether or not to Fix your ARM and are looking for guidance; here is my answer;
NOW!
Tomorrow rates will be signinficantly lower than they have been in the past two weeks, the last time we saw rates are low as they will be tomorrow ( I know, I am predicting the future, aint it cool?) was Teusday January 22nd. Recall just a moment, then read my posts from that day.
The overnight markets imploded on Monday (MLK Jr. … (0 comments)
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money saving tips: The Most Important Questions Every Buyer Should Ask - 02/02/08 09:42 PM
LOCATION: The Most Important Questions Every Buyer Should AskIt's a maxim in real estate that the three most crucial factors in selecting a house are "location, location, location." It's also true! No matter how wonderful the house is, the location is key to how well you'll like living in it and how well it sells when you're ready to move on. Before you buy, carefully check the following factors to be sure the house you like is really the one you want to live in. Consider destinations Where will family members go most often from this new location? How easy is … (0 comments)
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money saving tips: Historic Fed Move Cuts Both Ways for Borrowers - 01/31/08 09:16 AM
Historic Fed Move Cuts Both Ways for Borrowers
Hot on the heels of its surprise inter-session rate cut of 75 basis points last week, the Federal Reserve cut key interest rates again, the fifth straight cut since September 2007. In its statement last week, the Fed said it had decided to cut the federal funds rate "in view of a weakening of the economic outlook and increasing downside risks to growth." In other words, economic data suggests the US is on the brink of recession, and the Fed is acting accordingly.
Who benefits from this cut? If you have a … (2 comments)
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money saving tips: The Fed cut rates...what next? Mortgage Rates Rise! - 01/30/08 04:24 PM
The Federal Reserve cut interest rates again today by half a point. This follows the three quarter point cut from last week's surprise meeting.
Fed rate cuts do not mean mortgage rate cuts. In fact, following both the first Fed rate cut last September and last week's surprise cut, interest rates increased significantly in the two days following the announcements. Right after the Fed announcement, rates were basically unchanged however they are now starting to increase.
There is a lot of economic information scheduled for release in the next few days that in conjunction with today's information, means there is more risk for … (4 comments)
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money saving tips: *** WILL YOUR IRS TAX REFUND BE DELAYED? *** - 01/20/08 02:07 PM
*** WILL YOUR REFUND BE DELAYED? ***
The IRS has announced refunds will be delayed until February 11 for customers with one or more of the following credits:
Education credits, Residential energy credits, Mortgage interest credit or DC first-time home buyer credit.
If you use these credits, don't worry, you can still use those credits and you can still file your 1040 return prior to Feb 11th, just dont expect a refund prior to that date.
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money saving tips: Clean Up Your Credit or Forget It - 01/18/08 11:30 AM
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money saving tips: Boost Your Savings Account...Without Even Trying - 01/12/08 08:37 AM
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