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lender in phoenix: Mortgage Blog Provides Answers For Canadians Purchasing Property in USA - 01/29/08 11:47 AM
The mortgage market in Phoenix, Arizona changes all the time. If you are a Canadian national seeking some mortgage information to purchase a home in the US then things can get pretty confusing really fast. At the Arizona Mortgage Guru Blog I try to maintain the most current information for you the consumer. In that spirit here are links to some very important articles for Canadians seeking to purchase real estate in the United States:
Do Canadians Need a Visa to Purchase US Real Estate?: Most loan programs require a copy of your Canadian passport or drivers license, but read on to learn more...Canadians Could Make a … (8 comments)
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lender in phoenix: American Real Estate in Foreign Currency - Canadian, Euro and British Pound - 10/29/07 04:26 PM
Anticipating a rate cut, the dollar lost ground to the Euro today - reaching it's lowest point ever. The US dollar also continues to lose ground to the Canadian dollar - reaching a low it hasn't seen since 1974.
It may not seem good news to many, but for those in the export business, this is very good news. And Real Estate is an American product which can be "exported". Canadians and Europeans have shown that they love to buy a little piece of the Untied Stated. And today, American real estate is much cheaper when you look at it from their eyes.
Below, I have graphed … (4 comments)
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lender in phoenix: Refinance Your Subprime Mortgage Tops AMG Blogs Report (Oct. 16, 07) - 10/16/07 03:32 PM
The mortgage market remains in flux. Refinancing a subprime loan into a regular conventional mortgage is the big topic here in the Phoenix, Arizona market. The Arizona Mortgage Guru addressed this issue with a practical six step guide on how to refinance a subprime mortgage. The refinance post received heavy traffic, so it's on a lot of borrowers minds, however, the Arizona Mortgage Guru also wrote some very relevant posts for borrowers.
Facing Foreclosure? 12 Things You Should Know When You Call Your Lender - The Mortgage Bankers Association has created a foreclosure avoidance center website. Under this page it has published a twelve-step guide … (0 comments)
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lender in phoenix: Mortgage Forgivess Tax Removed and MI Tax Deduction Extended to 2014 - 10/05/07 11:00 AM
The House Ways and Means Committee has passed the Mortgage Forgiveness Debt Relief Act of 2007 (H.R.‚3648) from the Daily Herald:
the House Ways and Means Committee voted to permanently remove the so-called “phantom income” tax penalty that haunts financially distressed homeowners whose debt is partially forgiven by a lender after a foreclosure or a “short sale” to avoid foreclosure.
Also, committee also passed a provision to extend the deductibility of mortgage insurance premiums through 2014. This is also very important and will affect homeowners mortgage choice for a long time. Currently the deduction applies only to loans originated in 2007. … (3 comments)
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lender in phoenix: Home Mortgage Lender in Phoenix Arizona, Blog Report: Sept. 28th, 2007 - 09/28/07 12:05 PM
The mortgage market in Phoenix, Arizona changes all the time. If you are researching for a home mortgage lender in the area then you need to look at the Arizona Mortgage Guru Blog. This blog has great articles on how to manage your credit, tips for obtaining a mortgage and a whole range of other articles.
As a snap shot here are some of the recent articles which may interest you:
How to Protect Your Credit Score When Your Loan is Sold: Since your mortgage loan will be sold at some point to a different servicer, you need to be aware of … (1 comments)
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lender in phoenix: No More Taxes on Forgiven Debt: Mortgage Forgiveness Debt Relief Act of 2007 - 09/27/07 12:17 PM
It may come as a surprise to some but if a mortgage lender forgives debt they send the IRS a 1099 with the amount forgiven. The forgiveness could be a part of a short sale or foreclosure or what have you. So, when tax time rolls around you are obligated to report this forgiven mortgage debt as 1099 income and pay tax. Basically, not only are you having a hard time with losing your home, Uncle Sam wants to pile on a bit.
Well no longer. Uncle Sam is changing the rules.
The US House moved closer towards eliminating this tax on forgiven debt. Here … (3 comments)
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lender in phoenix: Top Five Credit Score Misconceptions - Learn the Truth - 09/24/07 04:46 PM
Our local paper in Gilbert, Arizona carried a very informative article yesterday regarding your credit score. It listed the top five credit (and debt) misconceptions. The East Valley Tribune (citing Transunion) listed the top five credit misconceptions as the following:
Co-signing a loan doesn't make you responsible for the account. Paying off a negative record will get it removed from your credit report. Paying off a debt will make your credit score jump 50 points right away. Checking your credit reports will lower your credit score. Closing old accounts will improve your credit score.The first one is really the one that caught … (9 comments)
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lender in phoenix: Phoenix Arizona Mortgage Blog Report: Sept. 14th, 2007 - 09/14/07 03:33 PM
Below are some relevant mortgage articles for potential home owners and those seeking home loans in the Phoenix, Arizona market. These articles are not location specific and also apply to Gilbert, Scottsdale, Tempe, Chandler and surrounding areas in the Phoenix Valley.
Monthly Mortgage Payment as Percentage of Income - So how much should your mortgage payment be in relation to your income? We lenders call this the front ratio. Its a type of debt to income ratio. Traditionally 30% has been the acceptable number. Read full article (with pie chart) here.The Feds Finally Turn on the Radio - Yesterday the FTC issued a … (0 comments)
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lender in phoenix: Phoenix Home Loan Rates Update - 09/14/07 01:02 PM
Are you curious about what home mortgage rates are doing these days? Well, they are on the down trend for the most part. This is in comparison to the summer highs (as you see below). Don't hold your breath though. I don't think home mortgage rates will continue to fall forever. My prediction is that rates will stabilize around the 6.125% to 6.375% for the remainder of the year.
The chart below shows the 30 year fixed mortgage rate as well as the average points paid to obtain a home mortgage. It is a national average.
… (2 comments)
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lender in phoenix: Craigslist: The Swamp of the Internet. Why Would You EVER Advertise There? - 09/10/07 05:00 PM
Many have posted on Active Rain about the virtues of advertising on Craigslist. In my last count there were over one hundred posts on this topic and the vast majority talk about its advantages. I'm here to say you need to be careful when you advertise your listing on Craigslist. Why? Because, Craigslist is fast turning into the red light district of the Internet. As the New York Times reported last week:
"Craigslist has become the high-tech 42nd Street, where much of the solicitation takes place now," said Richard McGuire, Nassau's assistant chief of detectives. "Technology has worked its way into every profession, including the oldest."
In July raids, … (27 comments)
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lender in phoenix: Mortgage Blog Report Aug 25th: Arizona Mortgage Guru - 08/25/07 12:52 PM
Here is a round up of some posts from the past week on the Arizona Mortgage Guru blog:
Gilbert Housing Report: Stay Put, Be Happy: In this post AMG highlights an article from the Arizona Republic which talked about the Gilbert housing market. This article did touch on a little bit of tax trivia regarding forgiven debt. In case you're curious, the IRS taxes forgiven debt as ordinary income. Read the full post for details.Phoenix Area Borrowers Need Not Worry: There is so much talk of doom and gloom in the mortgage industry right now and people are fearful. However, the average person need … (0 comments)
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lender in phoenix: Mortgage Blog Report: The Arizona Mortgage Guru - 08/01/07 11:28 AM
As you know I maintain an independent blog as the Arizona Mortgage Guru. For those of you who have not been over there in a few weeks, here is a summary of the recent posts:
Honey, Interest Rates Shrunk the Loan : This is a post which has a really cool chart showing how the loan amount decreases for a change in interest rate. For example, if a borrower can handle a $1500/month mortgage payment (not including taxes and insurance) then at a 6.00% interest rate this translate into a $250,000 loan. Click here to read the full article.
Number One Tip for Overcoming a … (0 comments)
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lender in phoenix: Home Loans in Phoenix, Arizona (AZ) - 07/30/07 11:06 AM
Are you looking for a home loan in Phoenix Arizona?Well you have come to the right place. I am a home loan (mortgage) expert in the Phoenix area with several years experience as a home mortgage lender. I can help you with home loans for the surrounding cities such as, Tempe, Chandler, Gilbert, Scottsdale, Mesa, Paradise Valley etc. Whether you have good credit, bad credit or no credit I can look at various home loan options and provide you with intelligent options.
As a home loan expert I can help with purchase transactions as well as re-finance transactions. I can do investment loans, construction loans, home equity … (0 comments)
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lender in phoenix: The 30-Year Rate So Far in 2007 - 07/05/07 12:06 PM
Here is a chart showing how the 30 year interest rate has been doing so far this year. It also shows the average points lenders are charging.
Remember just like there is more to an apple pie than just the apple, there is more to the home mortgage than just the interest rate. Pre-payment penalties, balloon seconds, buy-downs are some of the features that need to be considered in making the right mortgage decision.
Visit Arizona Mortgage Guru for more.
… (2 comments)
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lender in phoenix: Winning the ARMS Race - 06/26/07 03:58 PM
Here is an excerpt from a a recent story “Bad Loans get Worse” at CNNMoney:
More than $1 trillion worth of adjustable rate mortgages (ARMs) will be hit with higher reset rates this year, and that could add up to big trouble for many homeowners.
So, who are the most vulnerable borrowers? They are the ones with low credit and low income. Somehow they managed to jump into the housing market in 2005 when everybody believed the stratosphere wasn’t high enough!
Remember the 2/28 loan is a band-aid loan. Getting a loan like this means you have to start preparing for a re-finance … (1 comments)
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lender in phoenix: Lender in Maricopa County, Arizona (AZ) - 06/18/07 11:23 AM
Are you looking for a lender in Maricopa County Arizona?Well you have come to the right place. I am a home loan (mortgage) expert in the Tempe area with several years experience as a home mortgage lender. Maricopa County includes cities such as Phoenix, Tempe, Chandler, Gilbert, Scottsdale, Mesa, Paradise Valley etc. Whether you have good credit, bad credit or no credit I can look at various home loan options and provide you with intelligent options.
If you're looking for housing assistance programs I can help you with that as well. I maintain a current list of all the housing assistance programs available for … (0 comments)
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lender in phoenix: Arizona Mortgage Guru on old media - 05/17/07 11:51 AM
I admit I am tooting my own horn. It has all come about because of blogging. So, blogging works folks!
The local media did a story on mortgage fraud here in the Phoenix valley and I was interviewed for much of the material. Here is the link. Sad to say but Arizona was ranked 11th in fraud for 2006 by the Mortgage Asset Research Institute.
The industry has some work to do.
… (3 comments)
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lender in phoenix: When payment matters: mortgage buydown programs - 05/15/07 01:12 PM
With home prices where they are these days the 2-1 buydown in loan programs are becoming increasingly popular. In a buyers market, such as the one we’re in at the moment, you can even structure a buydown so that the seller pays for the buydown and closing costs. This means as a buyer you can expect a lower monthly payment with no out of pocket expense to close on the house. What a steal! The 3-2-1 program works the same way except it’s over three years. I’ll focus on the 2-1 program here for simplicity (you’ll see why in the example … (5 comments)
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lender in phoenix: Lender in Chandler, Arizona (AZ) - 05/08/07 01:34 PM
Are you looking for a lender in Chandler, Arizona (AZ)? Well you have come to the right place. I am a home loan (mortgage) expert in the Chandler area with several years experience as a home mortgage lender. I can also help those in the Greater Phoenix area such as Scottsdale, Gilbert, Tempe etc. Whether you have good credit, bad credit or no credit I can look at various home loan options and provide you with intelligent options. I work for your long term financial success, so you can be sure to receive excellent service! I can help with purchase transaction, … (0 comments)
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lender in phoenix: A guide to buying your first home - 05/07/07 06:48 PM
Purchasing a home is one of the biggest financial decisions of your life and you need to make sure you are prepared! You also need to ensure qualified professionals are helping you and guiding you through the process. At the very minimum, you need an experienced mortgage/realtor team!
Here is a simple checklist to follow:
STEP 1: EducationVisit aimeeloans.com to educate yourself on:
Loan programsClosing costsCredit reports Home inspectionsProperty appraisals & moreSTEP 2: Personal Evaluation Ask yourself some key questions:
How long do I want to stay in this house?What kind of payment can I afford?Do I have money for closing costs?STEP 3: Pre-Qualification After … (0 comments)
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Aimee Ghimire
Phoenix,
AZ
More about me…
Phoenix Home Loan Expert (www.aimeeloans.com)
Address: 1201 S Alma School Road, Ste 8950, Mesa, AZ, 85210
Office Phone: (480) 346-8383
Cell Phone: (480) 516-1819
Email Me
I am a mortgage professional serving the Greater Phoenix market. This includes Phoenix, Mesa, Gilbert, Scottsdale, Chandler, Tempe and surrounding communities. I am with PrimeLending.
When it comes to Arizona mortgage loans I have the expertise, the experience and the professionalism you should expect. I have been working in the Arizona home loan market for almost five years and have a history of satisfied borrowers.
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