robert rauf: Yes you CAN still get a loan. - 10/02/08 04:06 PM
For the past week or two we have been receiving calls from our clients asking if they are still able to get a loan. These calls have been for clients who are buying homes, are approved and just weeks away from closing. All of the negative articles and news has … (5 comments)
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robert rauf: Read beyond the headlines - 09/30/08 12:24 PM
The New "F-word"
As a consumer you need to do yourself a favor and STOP listening to the media! There isn't anything that will depress you faster than reading the paper or listening to the news. The word Foreclosure has been tossed around a little too much lately. It is a … (8 comments)
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robert rauf: The New "F-Word" - 09/30/08 12:18 PM
Read beyond the headlines
The word Foreclosure has been tossed around a little too much lately. It is a recurring theme that the media never reports positive information, it only knows how to hunt for the negative information. Here are some of August's numbers based on figures from Realtytrac, Inc.
There … (3 comments)
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robert rauf: When 777 is NOT a lucky number. This weeks forecast. - 09/29/08 04:16 PM
The Bail out of the financial markets has failed to be passed by Congress. What does this mean?
I wish I had that answer for you.... But rest assured that it will not hurt residential lending. Yes, we have less product to offer our clients now than we did a … (11 comments)
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robert rauf: Sunrise at the Mud Hole (Photos) - 09/24/08 02:05 PM
About 3 weeks ago I had a chance to go Tuna Fishing with friends.. we left the dock at about 5am and had a perfect ride out to the Mud Hole.
There was a beautiful moon that morning, I took a photo, but it did not come out so I … (16 comments)
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robert rauf: FHA Down Payment Change January 1, 2009 - 09/24/08 10:58 AM
This one bothers me. It feels "anti FHA". But it is what we have to look forward to.
On January 1, 2009 the guidelines for FHA Down Payments change.
Currently a buyer can put as little as 2.25% on the typical FHA transaction with the only caveot being a 3% down … (2 comments)
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robert rauf: FHA Down Payment Change - 09/24/08 10:54 AM
This one bothers me. It feels "anti FHA". But it is what we have to look forward to.
On January 1, 2009 the guidelines for FHA Down Payments change.
Currently a buyer can put as little as 2.25% on the typical FHA transaction with the only caveot being a 3% … (1 comments)
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robert rauf: Important FHA changes coming SOON! - 09/24/08 10:37 AM
October 1 is a big date in the FHA world, The Down Payment assistance piece has been beaten to death on the Rain, so this is just a quick mention that if you have them, GET THEM CLOSED.
The next piece is yet another change in the FHA Mortgage Insurance … (12 comments)
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robert rauf: I am not Ignoring YOU! - 09/18/08 10:12 AM
I have definitely not been intentionally ignoring You!! I have been busy with the move to my new company (Real Estate Mortgage Network) Setting up the new office, making sure my clients know where I am, and to top it all off I have a spurt of business which is … (11 comments)
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robert rauf: Battleship New Jersey, cutting staff, may close - 08/28/08 02:39 PM
When I first heard that the Battleship NJ was coming to NJ as a museum I was excited and looked forward to visiting it. Since it has been docked in Camden I have gone twice. One time with the family, and one time I actually got to sleep on it … (11 comments)
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robert rauf: Sunset Photos, over the Metedeconk - 08/28/08 09:11 AM
Kim Kelley always posts the best photos, it may be a view... and often a sunrise (she gets up way too early! They are a little crazy on the left coast)
Now it is my turn to share a few shots... Of course, if you read any of my blogs you … (13 comments)
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robert rauf: Catching Blue Claw Crabs in NJ (photos) (LOCALISM FEATURED) - 08/26/08 12:08 PM
Crabbing in the Barnegat bay has been GREAT this year. I finally got out for the first time a week or so ago. I posted a blog on crabbing a month ago. I had not had a chance to go out myself until my sister came for a visit from Virginia. … (50 comments)
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robert rauf: Should I lock or Float my Interest Rate? Econonomic Calendar August 25, 2008 - 08/25/08 11:06 AM
Should you lock or float? This has been the year of playing it safe and lock with out looking back since the moves in the market have not been predictable. This week is more of the same. The first issue is it is a holiday shortened week. Whenever we have … (2 comments)
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robert rauf: Seaside Park, NJ: 5k Run September 6, 2008 - 08/25/08 10:21 AM
5k Run, Walk Benefiting Cancer Society
Seaside Park Borough is hosting it's 8th annual Walk The Shore For A Cure 5K run and walk and the 6th Annual Kids' Fun Run, both on September 6, 2008
Proceeds from the walk/run will benefit the American Cancer Society. Registration will be from … (1 comments)
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robert rauf: TOE ATTACK! Laughter is the BEST Medicine - 08/24/08 11:49 AM
Do you ever wonder why we have camera phones? I did... At least until they finally put a camera into a blackberry. Now I actually take pictures since I don't have to find my camera, I never forget my phone (I feel naked with out it!) but I have forgotten … (9 comments)
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robert rauf: Why You SHOULD NOT Make a Low Ball Offer - 08/23/08 10:55 AM
I was reading Scott's blog this morning and a light bulb went off. In this Media driven economy we have experienced for about 2 years our clients all seem to take what is written as gold, even though in most cases the Media pulls the most negative piece of information … (18 comments)
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robert rauf: What to do in Ocean County NJ August 22-24, 2008 - 08/22/08 05:15 PM
Here is a big TO-DO list to pick and choose from if you are looking for something to do this weekend!
August 22
Peach Festival, Central United Methodist Church, Arnold Ave. 4 pm - 7 pm. Information: 732-892-3233 or www.gbgm-umc.org/cumcppb/ - BAY HEAD
Children's Theatre: Peter Pan, Surflight Theatre, Engleside … (1 comments)
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robert rauf: Data Sharing and a National MLS - 08/22/08 02:25 PM
Data Sharing is here, A national MLS system is a real possibility
Like it or not we are getting close to having national access to MLS systems. It is likely the wave of the future especially with sites like Realtor.com.
Rumor is that NY is very close to a State wide … (7 comments)
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robert rauf: Think and Grow Rich - 08/22/08 10:07 AM
This is a Negative review of the book.. I really did not like it at all.
I have had the book "Think and Grow Rich" , by Napoleon Hill, sitting on my desk for years and kept thinking that I need to Read it.... One of the Brokers in my area … (17 comments)
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robert rauf: Cha cha cha Changes.... Time for something exciting and new - 08/18/08 09:04 PM
Big NEWS!
As I begin my 21st year in this crazy career I chose for myself I have to decided to do it with a new company. When my old company of 18 years fell in the turmoil of the Mortgage Markets 12 months ago I Thought that my only option … (10 comments)
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robert rauf: Should I lock or Should I float my loan this week August 17, 2008 - 08/17/08 05:58 PM
I am always asked this question, and it isn't always an easy one to answer, especially in today's environment. If you just put contracts in on a house this weekend and you are applying for a loan I would advise that you lock in at the application if you are closing … (5 comments)
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robert rauf: August 17-22 Market news. What is Happening in the Interest Rate Market? - 08/17/08 05:53 PM
What is Happening in the Interest Rate Market?
The Market has been in turmoil with investors being overly cautious to invest in anything with the word "mortgage" attached to it. And it is this pessimism that is leading the movement in the markets more so than the economic data. The problem … (5 comments)
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robert rauf: Seaside Heights, NJ: Fireworks and MORE! - 08/15/08 10:09 AM
There is a lot going on in Seaside this weekend. first off Wednesday's fireworks were re-scheduled for tonight, 8/15/2008, due to wind conditions on Wednesday. This should take place approximately 9:30pm depending on Weather conditions.
Also tonight, Seaside Heights will be holding its "Fun for the Young Fridays" with Brenn … (3 comments)
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robert rauf: Seaside Heights Second Annual Crab Race - 08/14/08 06:03 PM
On August 23, 2008 Jekinson's Breakwater Beach Water Park will be holding the second annual Crab Race for a Cure fundraiser. The Race starts at 6pm and will benefit the Juvenile Diabetes Research Foundation (Central Jersey Chapter)
If you wish to participate you can purchase a plastic crab at Breakwater … (5 comments)
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robert rauf: Should I Lock, or Should I float - 08/11/08 12:13 PM
This Weeks Economic Data August 11, 2008
I am aways asked "where will rates be next week?" Honestly the only answer is "I don't Know" I can take an educated guess about what is happening in the market and do a quick analysis of the calendar for you to help … (1 comments)
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robert rauf: August 11, 2008 This weeks Market news - 08/11/08 12:08 PM
This is yet another week where it will most likely be the World Economy that drives the credit markets. There is a hand full of economic data being released on the calendar this week as well, with the most important information coming towards the end of the week
Monday and … (2 comments)
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robert rauf: NJ Begins to recycle fishing line (photos) - 08/07/08 10:54 AM
Monofilament fishing line is estimated to take 500 years to decompose... It is a hazard to marine animals, and people alike. Boat propellers HATE it! And it is dangerous to people diving and getting tangled in it. (exactly why I dive with Multiple Knives!)
There are now 11 locations in … (7 comments)
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robert rauf: The Kayak is DONE, (photos of its birth and first paddle) - 08/06/08 03:42 PM
The Kayak is DONE!
Last winter I started building a Kayak. I always like to challenge myself to see what I can do, I am a firm believer that you can do anything if you try, and you need some sort of hobby outside of work. Since I don't sail much … (15 comments)
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robert rauf: LOOK; up in the sky, its ... A METEOR! - 08/06/08 10:01 AM
Perseid Meteor Shower: August 12, 2008
The Perseid Meteor Shower is just a few days away, it is one of Natures most reliable and consistent light shows. This year's Meteor shower is going to take place August 12th with the best viewing expected in the Wee hours of the morning after … (6 comments)
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robert rauf: Brick Township, NJ offers More Bang to Fireworks! August 28th - 08/06/08 09:50 AM
Brick Township SummerFest Finale August 28, 2008
Brick promises that the SummerFest Finale will have a special display. As in the past when Mother Nature has not cooperated, the same has happened this year, and the "missed" date will equal a Huge display for this years finale.
I have been to … (3 comments)
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robert rauf: What is the Difference between a Pre-Approval and a Pre-Qualification? - 08/04/08 11:33 PM
Jennifer Allan posted a blogand in the comments we discussed the above subject. She asked me to explain the difference between a Pre- Approval or a Pre-Qualification. I know there has been a lot of chat in the rain about deals falling apart in underwriting etc... I have posted a … (65 comments)
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robert rauf: Jimmy Buffett coming to Jackson, NJ (almost) - 08/01/08 10:27 AM
Jimmy and the Parrotsis a Jimmy Buffet Cover band that has been performing around the country for over 9 years
The Department of Recreation announced that Jimmy and the Parrots will perform August 20,2008 at John F. Johnson Memorial Park. The Show is scheduled for 7:30pm and the park … (2 comments)
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robert rauf: NJ State Rowing Championships, Toms River NJ - 08/01/08 09:57 AM
The 6th Annual NJ State Rowing Championships will be held August 12, 2008 in Barnegat Bay. The 7 Mile race will start At Toms River Yacht Club.
The race is open to any kind of rowing craft. Life guards and competitve rowers use everything from:
Traditional Sea Bright Skiffs
Modern Surf Rescue … (3 comments)
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robert rauf: NJ State Rowing Championships, August 12, 2008 Toms River, NJ - 08/01/08 09:55 AM
The 6th Annual NJ State Rowing Championships will be held August 12 in Barnegat Bay. The 7 Mile race will start At Toms River Yacht Club.
The race is open to any kind of rowing craft. Life guards and competitve rowers use everything from:
Traditional Sea Bright Skiffs
Modern Surf … (0 comments)
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robert rauf: Seaside Park Fluke Fishing Tournament - 07/28/08 10:59 AM
Seaside Park August 2, 2008 Fluke Tournament
A Fluke fishing tournament will be held from 6am to 2pm on Saturday August 2nd at the Seaside Park Marina (corner of J street and Central Ave)
Immediately following the Tournament will be a barbecue and cash prizes and gifts for the winners. … (5 comments)
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robert rauf: This weeks economic forecast and Economic Data 7/28/2008 - 07/28/08 08:58 AM
Weekly Economic Report
This weeks calendar starts off slow and ends up with the "Biggie of the Week"
Monday 28: No report
Tuesday 29th: Consumer Confidence. Estimate is for 50.0, A reading below will support lower rates, a Reading above 50.4 may nudge rates higher. Investors usually are more interested … (6 comments)
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robert rauf: Crabbing in NJ can be Profitable, And TASTEY! - 07/25/08 01:12 PM
The Barnegat Bay National Estuary Program is conducting research on Blue Claw Crabs
Not only are these guys tasty, but you now have an opportunity to earn $5 and $20 rewards if you catch a crab with a pink or yellow metal tag and you report finds to the … (7 comments)
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robert rauf: Toms River Fest, Toms River NJ: Huge list of stars! - 07/25/08 12:16 PM
Toms River Fest is coming soon!
Toms River Fest has a lot to offer the entire family with Midway attractions and games, BMX Demonstrations, Fireworks every night, Exhibits, Food and MORE...
This is all on top of an exciting line up of stars.
Saturday August 2nd
Carrie Underwood
Lifehouse
Gavin DeGraw … (3 comments)
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robert rauf: Lavallette, NJ: Free Concerts - 07/24/08 04:31 PM
FREE Concerts Mark Lavallete Heritage Committee's 21st year
The Lavallette Heritage Committee will have free concerts at 7pm on Sundays at the Gazebo on Bay Boulevard and Philadelphia Ave.
Performers include:
A Little Bit of Heaven July 20th and August 10th
The Happy Days String Band July 27
John … (0 comments)
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robert rauf: You just applied, Should you lock or float? This weeks Forecast July 21, 2008 - 07/21/08 03:05 PM
July 21, 2008
The Economic Calendar is a busy one this week, but there is not one piece of data that is expected to move the market. If you wrote a contract over the weekend you may be asking, should I float or should I lock? This information should help you … (2 comments)
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robert rauf: This Weeks Economic Data - 07/21/08 02:59 PM
July 21, 2008
The Economic Calendar is a busy one this week, but there is not one piece of data that is expected to move the market.
Today: we had LEI which was in line with expectations
Tuesday 22nd Treasury Auction of 20 yr indexed securities
Wednesday 23rd, Treasure Auctions 2 … (3 comments)
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robert rauf: Island Beach State Park named in National Top 10 list - 07/03/08 03:13 PM
Island Beach State Park
WOW! Great news, after I posted a blog on NJ beaches last week I stumble across an article in today's paper about my favorite beach, Island Beach State Park. Men's Fitness magazine named IBSP as on of the 10 hot spots to visit in the Summer. National … (6 comments)
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robert rauf: Sunsets and Sailing in NJ - 06/27/08 08:49 AM
I love my area in the Summer. Most people pick on NJ when they really do not know what it has to offer.
If you know me at all, you know that my #1 passion is racing sailboats. Well, for a month now I have been on the DL, and … (12 comments)
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robert rauf: FED leaves Short Term Rates UNCHANGED - 06/25/08 01:53 PM
As expected the FED did not raise rates at this week's meeting. The Fed says:
Uncertainty over inflation outlook remains high while downside risk to growth has diminished.
The news is considered to be neutral to slightly negative.
Initially the market sold off on the news but has been improving … (3 comments)
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robert rauf: Should I lock or float? This weeks Market news - 06/23/08 10:44 AM
Market update
Should you lock or Float this week? Here is this week's news:
The FED Begins its FOMC meeting this Tuesday and we should have the outcome of that meeting about 2pm on Wednesday. In addition to the FED meeting we have a slew of reports on New and Existing … (0 comments)
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robert rauf: The FED meets this week, Market update. - 06/23/08 10:40 AM
Market update
The FED Begins its FOMC meeting this Tuesday and we should have the outcome of that meeting about 2pm on Wednesday. In addition to the FED meeting we have a slew of reports on New and Existing Home Sales, Consumer Confidence, 2 Treasury Auctions, ending the week with Personal … (3 comments)
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robert rauf: How accurate is your Pre Approval? - 06/21/08 12:10 PM
How good is your approval letter?
The pre-qual letter is only as good as the Loan Officer and the experience of your L.O.
If Your LO has experience and knows what questions to ask, and what answers should cause him to ask more questions... Then a Pre-qual can be as … (4 comments)
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robert rauf: How good is your Pre Qual letter? - 06/21/08 12:04 PM
How good is your approval letter?
The pre-qual letter is only as good as the Loan Officer and the experience of the L.O.
If Your LO has experience and knows what questions to ask, and what answers should cause him to ask more questions... Then a Pre-qual can be as … (0 comments)
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robert rauf: Keep Your Deals Alive - 06/13/08 09:36 AM
When Was Your Buyer Last Qualified?
In today's ever evolving world of mortgage guidelines it is important to be sure the buyer you are putting in the car this weekend is still able to get a loan.
In the past year I have seen more guideline changes than I have seen … (14 comments)
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robert rauf: 2008 is the year to buy a Home - 06/09/08 11:20 AM
Why should I buy a home now?
I firmly believe that we will all look back on 2008 and say "I wish I got that house back in 2008!"
It is truly a buyers market.
More inventory than we have seen in years... So Many choices for buyers.
Interest rates are … (6 comments)
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