loan: Friday Night Lights - 02/06/08 12:47 PM
From the Desk of Rich Hayden - Financial Coach 207 S. Alfred Street, Alexandria, VA 22314 703.773.8409 - o 703.832.6467 - f rahaydenjr@yahoo.com www.richgetsitdone.com Become 100% Debt Free (including your HOUSE!) in as little as 8 Years!I gotta tell ya, I like this show. Now, I'm not a huge fan of … (1 comments)
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loan: Credit Scoring Tips - 02/05/08 11:27 AM
Here are a few quick scoring tips that may help in getting the most out of your credit scores.
What goes into your credit score?:
Payment History (35% of the rating)
Length of Credit History (15% of the rating)
New Credit (10% of the rating)
Types of Credit Used (10% of the rating)
Debt (30% of the … (1 comments)
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loan: Hard Numbers on Jackson rehab properties - 02/04/08 03:48 PM
My partners and I have been talking up, emailing out, and posting these cute (and profitable) little Jackson, MS rehab properties for a while. I thought I'd post a case study that shows what a value we've really put together.
Here's a property we sold a while back in Jackson (click on … (1 comments)
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loan: Rehab Loans for Investors!! - 02/04/08 11:39 AM
I just wanted to write about some loans that I specialize in that can be a great asset to both Real Estate agents and investors. They are known as Rehab Loans, and they provide financing not only for the purchase of the home, but also for the repairs that may be needed. … (0 comments)
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loan: Understanding Fiscal Literacy - 02/02/08 03:10 PM
In my practice, I often discuss sometimes counter intuitive ideas. Often we are taught to pay off our home heading into retirement; I teach my clients to actually get a larger mortgage heading into retirement. So to go from no mortgage to "bigger mortgage" is indeed counter intuitive.
I like to … (4 comments)
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loan: If you were a Billion Dollar Company....would you buy Country or Yahoo?? - 02/01/08 06:26 PM
It seems everyone is out to bring down the Jolly Green Giant AKA Google.
With just 43 billion dollars (USD of course), we can make history. Microsoft's bid seems a bit steep for Yahoo.
What makes me wonder is where did Microsoft get this money? Did they have it under some huge matress?
Did … (5 comments)
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loan: Spring is almost here! - 02/01/08 01:53 PM
Its that time of year again, when buyers are out and shopping! Each spring the warmer weather tends to heat up the Real Estate market, and this one appears to be no different. With rates low and the market being in the buyers favor, it may be very busy over the … (1 comments)
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loan: Realtor Caught in Cash-Back-at-Closing's Crosshairs - 02/01/08 09:14 AM
Realtor Caught in Cash-Back-at-Closing's Crosshairs
by Ralph Roberts
According to Realtor Lori Polin, she was totally unaware that what she was involved with consisted of real estate and mortgage fraud. If ignorance of the law was an appropriate defense, she could be off the hook. Unfortunately it's not. According to a … (7 comments)
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loan: House Hunting? Now Is The Perfect Time To Be A Priority Buyer - 02/01/08 08:34 AM
House hunting? Now is the perfect time to to arrange your home financing. Understanding your mortgage options now gives you an advantage as you negotiate your home purchase.
You can get the mortgage expertise of Wells Fargo through either of these two convenient services:
A preapproval letter is an agreement to lend you up to … (1 comments)
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loan: Is My Ex Paying the Mortgage? - 01/31/08 04:31 PM
"How could this happen? My four children and I are going to be homeless!" This was a desperate call I received a few days before the holidays. Unfortunately, it wasn't the first time I had taken a call of this nature.
What options does a woman in this situation have? The final … (12 comments)
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loan: FED CUTS RATES AGAIN. PRIME is now at 6% - 01/30/08 01:50 PM
The fed just cut the key interest rates again, now making prime 6%. This was expected by all on wall street and should come as no surprise. That makes a 2.25% fall in rates over the past few months, making everything from consumer loans and credit cards to Home Equity Lines … (0 comments)
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loan: FBI Investigation into the Mortgage Mess - 01/30/08 12:40 PM
I just read an interesting on-line article about the FBI's investigation of the subprime mortgage industry. I have included a link, in case you are interested:
http://www.abcnews.go.com/TheLaw/IndustryInfo/story?id=4210595
What was most compelling was to read through the article and then to read the article comments. The bulk of the comments were about trying … (5 comments)
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loan: The house I was supposed to close on today loan fell - 01/30/08 11:53 AM
Today I was supposed to close a deal on a cute house on 4018 Neel St., Boise, ID. From the get go the loan officer seems off task. Both the listing agent and myself became nervous when his company took 8 days to furnish us with the commitment letter. The loan … (6 comments)
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loan: Fed Meets today, 1/2% rate cut expected. - 01/30/08 11:16 AM
The Federal Reserve meets today and will decide on what to do about the key short term interest rates. The stock market is expecting at least a .5% cut in the rate, which would put PRIME at 6%. This rate only directly affects 2nd mortgages, and doesn't directly affect the long … (1 comments)
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loan: Realty Viewpoint: Bad Builder Numbers Where They Should Be - 01/29/08 10:10 AM
Realty Viewpoint: Bad Builder Numbers Where They Should Be
by Blanche Evans
The Commerce Department reported that new home sales in December dropped to the lowest level in nearly 13 years.
Instead of the million or two we're used to hearing reported at year's end, new home builders only sold about 774,000 … (0 comments)
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loan: Sovereign-Wealth Funds: Savior or Menace? - 01/28/08 06:05 PM
In recent months, the sub-prime crisis has reached unforeseen heights, infiltrating banks and financial institutions worldwide and causing many to report multi-billion losses due to the risky investments going sour. While the underlying economy of the US appears to be relatively robust, and the dollar's continued weakness has made investment and … (0 comments)
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loan: FTHer Series - 5. Basics of a Loan - 01/28/08 12:13 PM
FTHer Series - 5. Basics of a Loan
You can't purchase a home if you don't have funding - which means learning the basics of a loan is essential. All your hard earned money and your future monthly payments are determined by your loan. Doesn't it make sense to learn as much … (0 comments)
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loan: More bad news in the media. - 01/28/08 12:02 PM
It seems like every time I turn on the TV, open the paper, or get on-line, I am being bombarded with bad news about the Real Estate and Mortgage industries. Last night on 60 minutes there was a 20 minute segment on the mortgage and real estate markets and how bad it … (4 comments)
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loan: What to tell a friend. Losing a home. - 01/28/08 06:49 AM
I have a friend that has a home that they are really upside down in Loan amount is around $450K and they can't get a look at $430K. The market is looking at $350K now. They are not behind on payments and this is a second home. But they could be … (3 comments)
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loan: Impact of today's announcment for conforming loan size - 01/25/08 02:47 PM
1/25/2008
For those of you that don't quite understand the impact of today's announcement please read on:
What does "Conforming" mean?
First of all, let me briefly explain what "conforming" means. "Conforming" is the term used to describe loans that meet all the Fannie Mae and Freddie Mac guidelines. One of the major guidelines … (2 comments)
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loan: Minnesota Mortgage Broker Discusses Life After Bankruptcy - Is It Possible? - 01/25/08 02:46 PM
Edina, MN - Bankruptcy is an uncomfortable subject for a variety of reasons. The most obvious is the potential havoc it can wreak on your finances when obtaining a mortgage loan. Running a close second is the negative stigma which is often attached to the process. This negativity is important to … (1 comments)
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loan: No Money Down & 3% Down Programs for Purchases Are Still Around - 01/25/08 01:54 PM
Hello Everyone,
Even though the Federal Reserve cut rates the other day by .75 bps, not everyone is able to take advantage of that. It would benefit basically anyone who has a rate of 7.5% (fixed or adjustable) to go down to a rate of 5.75%. I'm specifically talking about programs … (1 comments)
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loan: Still think you can't get a loan? Fed's decision may change your mind! - 01/25/08 12:14 PM
The Federal Government has realized (finally) what all of the bad press has been doing to the housing market and that affects many people's jobs. I always tell people who ask for housing advice to follow the jobs. If they are relocating check out the job market even if you are … (0 comments)
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loan: Finally - Jumbo Loans May Get Some Help... - 01/24/08 11:09 PM
If you are a homeowner trying to sell - and your property is over 500k in value - you were probably hurt by the fact that after the lending crisis started - rates for jumbo loans were jacked by 1-2 percent or more over existing conforming loans under 417k.That meant that … (1 comments)
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loan: Fed Rate Cut - 01/24/08 01:42 PM
Rates are predicted to be cut again when the Federal Reserve meets at the end of this month. Many believe Tuesday's action was taken because of a dramatic downturn in the stock market, where the Dow dropped 464 points, the worst single day drop since September 11, 2001. Since the Fed's … (0 comments)
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loan: FEDS Cut Fed Fund Rate - What does that mean for Home Loan Rates - 01/24/08 11:32 AM
In a surprise move Tuesday morning, the Federal Reserve lowered the Fed Funds Rate by .75% to 3.50%. This move was prompted by an emergency meeting Monday night as global markets sold off significantly due to foreign investors' fears of a recession in the United States.
While many believe that … (3 comments)
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loan: Edina Mortgage Broker & Edina RE/MAX Real Estate agent Offer Deal - 01/24/08 08:52 AM
Have you been sitting on the fence wondering when to buy a new home? We know it's not the interest rates-the mortgage rates are at a multi-year LOW. We know it's not the inventory, we are in a buyers market with motivated sellers. This means more choices than ever before. We … (0 comments)
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loan: Beware of Short Sale Fraud - 01/23/08 06:24 PM
I was just speaking to a neighboring real estate agent who told me that some people she met, who are not well informed of what happens in a short sale, gave $3000 to a Real Estate Company who said they will not lose their home if they listed with them to … (9 comments)
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loan: Fed Credibility goes Down the Tubes - 01/23/08 05:57 PM
On January 22nd, the Federal Reserve cut their most important interest rate for the fourth time in the past six months, in an attempt to stem the widespread sentiment that the US is in, or headed for recession. Their cut comes at a strange time, because they were rumored, nay, expected, … (0 comments)
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loan: LO's...want to capture a Realtors attention and not "do" their loans? - 01/23/08 05:44 PM
… (0 comments)
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loan: Jott - 01/23/08 01:05 AM
I use a free online service to get my tasks into Microsoft Outlook. I can leave a voicemail and within minutes I receive an email of the transcribed voicemail and a link to the audio file. I drag the email into the outlook task list, my task is entered and I … (2 comments)
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loan: Influence and Persuasion - 01/23/08 12:56 AM
One of the subjects I have been studying lately is influence. It is very useful information for Real Estate and Mortgage professionals. I really admire the work of Dr. Robert Cialdini who teaches ethical persuasion techniques. He publishes a free email newsletter which is available from his website
http://www.insideinfluence.com
You can also get … (1 comments)
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loan: Rate Cuts, Rate Cuts, Rate Cuts!!!! - 01/22/08 07:46 PM
Today the Federal Reserve cut the Interest rates again lowering the rates another 75 basis points to 3.5 percent. The idea is that they want to keep us from going into a recession. Do any of you think that it well help? If so how? And what good do you think it will accomplish? If you don't think … (0 comments)
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loan: Deals on Loans - 01/22/08 04:11 PM
First of all I want to tell you I am not a lender. However I want to pass on some news to all buyers!
I was just informed from one of my favorite lenders that they currently have the following loans:
Conventional Loans with a LTV (Loan to Value) of 80%
LOANS $417,000 and … (0 comments)
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loan: Hawaii Mortgage - 01/22/08 04:05 PM
My Name is Brant Holland. I am a Mortgage Consultant based on Maui, Hawaii. I originate loans in all 50 states. The advantage to borrowers on the west coast of the US Mainland is I am available from 9:00 am to 10:00 pm.
Please visit my website:
http://www.loan24-7.com/brantholland
About Me:
http://www.linkedin.com/in/brantholland
http://www.facebook.com/profile.php?id=725774787
http://brantholland.tumblr.com/
Aloha,
Brant Holland
… (0 comments)
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loan: Beating a dead horse - 01/22/08 10:44 AM
I have an unbelievably great example of a Lender snafoo (snafu - depending on your preference of spelling). Here's how it went -
I received the contract 3 1/2 weeks ago. I called and introduced myself to the Lender on that same day. My question to the Lender, which is the same … (4 comments)
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loan: Far reaching consequences of foreclosures-innocent victims - 01/20/08 03:30 PM
I have shown a lot of houses lately that are in foreclosure, preforeclosure or short sale situations. It seems that much of this was caused by greedy lenders people who made loans knowing that ultimately the consumer would be unable to pay and someone else would be left holding the bad … (5 comments)
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loan: Lenders.....next up-the smaller community bank problems! - 01/20/08 02:30 PM
Well, Aurora going down was perhaps the worst kept secret in the industry-followed closely by Bank of America's purchase of Countrywide.
What big time lender is next? I'd have to guess WAMU (Washington Mutual). Lender buyouts are starting to increase.....and nothing will surprise me anymore.
We also have to turn our attention now … (5 comments)
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loan: Does the seller have a right to know the buyers credit? - 01/18/08 11:26 AM
This question arrived in my in box from one of my Realtor partners. (as always my response will be in bold)
Joe, just read your blog-had a situation just yesterday that was similar to the situation you describe-you know, credit score under 620, trying to get 100% financing, working under FHA and … (2 comments)
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loan: Refinance boom predicted for the fortunate few - 01/17/08 08:42 PM
Originally posted on Home Financing News.
Home refinance applications are up sharply according to the latest numbers from the Mortgage Bankers Association. And some industry watchers think they mark the beginning of a new refinance boom in the months to come.
But applications aren't the same as completed mortgages. And sadly … (1 comments)
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loan: Conforming Mumbo Jumbo - 01/17/08 08:11 PM
Okay, this is my idea. It came to me the other night as I lie awake mentally tossing around all my deals and wondering how many of them might actually make it to the finish line (i.e. the Closing Table). Thinking as an Investor/Developer, I pondered this: Find a way to … (6 comments)
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loan: Realtors: Get Off the Bench and Get in the Game! Offer FHA Loans to Your Clients. - 01/17/08 02:37 PM
Yes, I am a screaming fan of FHA and VA loans!
This past year, pre-qualifying your buyer has become even more difficult. What I can't quite understand is why realtor's are not offering the opportunity for their clients to pre-qualify for FHA loans? Are they still under the impression the FHA guidelines are strict? Possibly. Perhaps its because their loan officers are not … (6 comments)
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loan: Advertising? Marketing? Where should our efforts be? - 01/17/08 10:00 AM
Is a raging debate in our office for the last 2 weeks. The loan officers are not happy that the advertising budget has been sliced and the focus shifted to the loan officer getting out and promoting themselves. The company has offered to match up to $XXX in the loan officers … (4 comments)
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loan: Appraisers "FUDGING" The Wrong Way Court Banks At Public Expense - 01/17/08 01:26 AM
"INSERT EQUITY HERE!"
We all know there has been some terrific controversy concerning some of the less reputable appraisers that inflated values during the recent market in order to obtain value that just wasn't there.
There are some appraisers that are still riding that last wave until someone stops them...AND THEY WILL. I … (12 comments)
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loan: 6 Things You Must Know Before You Buy - 01/16/08 11:54 AM
Mortgage Regulations Have Changed . . .
Mortgage regulations have changed significantly over the last few years making your options wider than ever. Subtle changes in the way you approach mortgage shopping and even the small differences in the way you structure your mortgage can literally cost or save you thousands of … (0 comments)
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loan: When is the Best Time to Lock? - 01/15/08 02:17 AM
I always advise my clients to lock in their interest rate at the earliest opportunity. Gambling with a client's interest rate is never advisable. In my business, I have a standardized system in place that we adhere to for all of our clientele.A mortgage loan cannot be closed without locking in … (2 comments)
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loan: When is the Best Time to Lock? - 01/15/08 02:17 AM
I always advise my clients to lock in their interest rate at the earliest opportunity. Gambling with a client's interest rate is never advisable. In my business, I have a standardized system in place that we adhere to for all of our clientele.A mortgage loan cannot be closed without locking in … (1 comments)
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loan: What to Consider When Purchasing a Home... - 01/12/08 11:38 PM
Each person has their own tastes and wants but there are some basic fundamentals to consider when searching for a home.
First of all, are you a first time home buyer? Do you plan on staying in the home at least 5 yrs? Do you have the cash to perform upgrades and … (0 comments)
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loan: Foreclosure Leads to Judgments Issued. - 01/12/08 09:50 PM
The more I talk to people who are thinking about letting their home go to Foreclosure, just giving up, the more I realize that they think this decision will end their dilemma and everything stops because they are giving the home back to the bank.
I explain that after a … (14 comments)
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loan: Getting Professional Legal Advice is the Best Choice. - 01/12/08 09:30 PM
Yesterday’s market has created problems with property owners paying their mortgage timely or affording their mortgage, which leaves them with difficult decisions to make.
Try to keep the property and continue to be house poor and struggle with the stress of trying to keep up.
Attempt a short sale.
Let the … (11 comments)
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loan: MONTHLY LOAN PAYMENT ESTIMATOR - 01/12/08 04:47 PM
Wondering what your monthly mortgage payment will be...
… (3 comments)
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loan: Closing a Loan...Do's and Don'ts - 01/12/08 04:38 PM
DO'S AND DON'TS BEFORE CLOSING A LOAN...Below are a few reminders of "Do's and Don'ts" before you close on your loan. If you are uncertain about what to do, please call or e-mail me for guidance. … (2 comments)
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loan: Credit Reference Guide - 01/12/08 04:14 PM
How to correct your credit report in preparation for buying your dream home... … (0 comments)
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loan: FICO SCORE EXPLANATION - 01/12/08 04:05 PM
Understanding the crossroads that lead to explaining the score... … (6 comments)
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loan: LOAN PROCESS - 01/12/08 03:34 PM
… (0 comments)
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loan: Stone Cold Killer - 01/11/08 11:38 PM
My name is Kenneth J. Miller and I am not a killer. I hear it all the time regarding appraisers killing another deal because the appraisal report came in too low. My wife used to work for a mortgage broker and I'd hear it all the time from loan officers in … (5 comments)
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loan: Countrywide Acquired By Bank Of America - 01/11/08 03:54 PM
In what will probably be the biggest merger of the year in the mortgage industry, Bank of America has purchased Countrywide Financial Co. at the tune of $4 billion.
I have blogged about the various articles that have been released today about this acquisition in my Loan Officer Tips blog. I would love … (8 comments)
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loan: What can you get for a cool $4 Billion? How about the largest Lending Co. in the US - 01/11/08 08:40 AM
No surprise here as Countrywide, The nations leading home lender, is finally scooped up by Bank of America. BOA had stepped in earlier in 2007 to assist Countrywide with some liquidity and has found todays buy out to be "A rare opportunity" said Bank of America Chairman and CEO Kenneth Lewis. … (8 comments)
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loan: Countrywide Bankruptcy? What To Do If You Have A Loan With Countrywide - 01/11/08 12:41 AM
Countrywide Bankruptcy? What To Do If You Have A Loan With Countrywideby John Alesi, Mission Viejo REALTOR®Mission Viejo CA Real EstateJanuary 10, 2008 Today's news that the nation's largest lender, Countrywide Financial Corp., is just the latest bomb to hit the lending industry. Likely, white knight, Bank of America, will rescue the … (0 comments)
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loan: How to Determine Whether Your Loan Officer is Reputable - 01/10/08 02:16 PM
In slower markets, some loan officers may feel pressured to close deals that aren't in the homeowner's best interest. In order to avoid getting into difficult and financially compromised positions with their mortgages, borrowers are well advised to be acutely aware of the signs of a responsible loan officer when selecting … (0 comments)
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loan: New Year's Resolution - Losing Rate - 01/10/08 10:07 AM
New Year’s Resolution – Losing RateWell, I managed to get through the holidays without completely blowing my diet and packing on the pounds. For most of us, the end of the year Christmas cookie grazing is always quickly followed by fervent vows to lose those extra pounds, marathon sessions at the … (1 comments)
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loan: Update MY Secondary Blog - 01/09/08 09:33 PM
I wanted to briefly let you all know that I have updated my Loan Officer Sales and Marketing Tips blog. I went a little off topic in the past post with the concept of The 3 F's of Sales, but I am back on track with the Pre-Qualification 2.0 Series with … (3 comments)
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loan: Waiting For...What? - 01/09/08 03:53 PM
Waiting For...What?
Narma Delores Mayfield
As an undergraduate at UC Berkeley, I read Waiting For Godot, a play by Samuel Becket. The play is the story of two old mean awaiting the arrival of a mutual acquaintance who never appears. The old men hardly know this person, Godot, and admit that they … (0 comments)
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loan: Glossary of Mortgage Loan Terms - 01/09/08 10:13 AM
Acceleration ClauseA provision in a mortgage that gives the lender the right to demand payment of the entire outstanding balance if a monthly payment is missed.Adjustable Rate Mortgage (ARM)A mortgage whose interest rate changes over time based on an index and a margin. Rate changes are made at prescribed times and … (0 comments)
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loan: Shoreview Real Estate homes for sale-Mounds View Schools - 01/09/08 07:47 AM
Shoreview inventory of homes for sale remains a little higher than in the past years, but Shoreview is still popular. Some price ranges are selling faster than others.
Lino Lakes homes for sale also a little higher than in the past.
Vadnais Heights homes for sale have a variety of prices for sale (townhomes … (0 comments)
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loan: Florida Real Estate & Mortgage | 2008 and $100 Barrels of Oil ~ The Year Ahead... - 01/08/08 01:42 PM
This time of year, everyone wants to be a prognosticator of what lies ahead for the coming year in the world, the US, the economy and the Real Estate and Mortgage Industries. It is funny how many differing reports we get from so many different sources.
The hardest thing to swallow, … (5 comments)
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loan: Avoid Foreclosure: Real Estate Solutions for Homeowners and Real Estate Professionals! - 01/08/08 12:19 PM
Real Estate Solutions for Homeowners
Are you having trouble making that monthly mortgage payment? Would you like to avoid the dreaded “F” word (foreclosure)? Contact me today to set up a FREE consultation. There are many options available to avoid foreclosure.
Short sales are a … (0 comments)
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loan: New Blog Started - 01/08/08 10:44 AM
Hi Everyone!
I wanted to give you all a quick update on my blogging world. Even though I love the AR community, I was asked by a couple of people within the industry to start a secondary blog about Loan Officer Training. So, I have started the Loan Officer Marketing and Sales … (2 comments)
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loan: Unsophisticated? - 01/07/08 02:43 PM
Are homeowners unsophisticated or has the homebuying and mortgage lending process just become too complex? Should all potential homeowners have to spend years learning the ins and outs of buying a home, how to avoid fraud etc? Should all potential homeowners be required to purchase a financial calculator and learn how … (12 comments)
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loan: Want To Buy Your Dream Home!!!!! - 01/04/08 02:20 PM
If you need a mortgaqge loan please give me a call...if your credit is not that great because of the past not a problem lets see what program we can help you with.. … (0 comments)
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loan: Get a Cheap Car Finance with No Money - 12/28/07 01:09 AM
You know, there really isn't much of a difference between a simple car loan and a cheap car finance. It really only differs in, as what the term suggests, the annual percentage rate being lower.
Apply for Cheap Car Finance Annual Percentage Rate (APR)
It happens to be the name … (3 comments)
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loan: Get Out Of The Way! - 12/27/07 09:03 PM
Today (12.26.2007) marks the launch of my blog. This blog, in conjunction with my video blogs (which will also be posted here), my quarterly paper newsletter (email me @ rahaydenjr@yahoo.com to get on my list) and other communications are resources for you to use freely as you put your financial house … (3 comments)
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loan: Commercial mortgages oppen opportunities - 12/27/07 09:35 AM
Click HERE, Get Pre-Approved For a Commercial Loan Now!
There are tons of investment situations where commercial financing can open up the doors to unforeseen opportunity. The right financing can make seemingly impossible financial goals affordable and realistic. When seeking financing, lender selection is one of the most important considerations for … (0 comments)
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loan: Getting Into Home Improvements with Your Client - 12/26/07 11:19 PM
Over the past couple of years, equity has been extremely accessible to our clients. Times in our industry are changing with regard to guidelines and lending ability. However, that shouldn't distract your from creating a relationship with your refinance clientele. I have touched on the refinance with debt consolidation clients in … (0 comments)
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loan: Commercial mortgages - 12/26/07 09:14 AM
Refinancing Existing Properties
… (0 comments)
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loan: November Santa Barbara Home Loan Activity - 12/24/07 11:02 AM
The loan activity in the South County of Santa Barbara fell in November compared with October. The number of non purchase loans was down about 11% to 341. The number of purchase loans was up about 6% to 86. There are certainly some seasonal influences affecting these numbers but these … (0 comments)
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loan: Close more deals- We can help your denied clients become home owners. - 12/21/07 12:54 PM
We can help your clients that cant get conventional financing to buy their home.
Realtors can still sell home to their turned down clients, We pay realtors commissions.
… (1 comments)
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loan: Florida Mortgage | Financial Advice ~ Own your home outright - Good or Bad Advice?? - 12/21/07 12:43 PM
Diversify Diversify Diversify... that's the mantra of today's Financial Planner. Many people disagree with that quote - big notable investors like Trump, Buffett etc...
But that's what we're taught... diversification reduces risk and increases return over the long term.
But ... when we're talking about our Primary Residences and diversification, are traditional … (5 comments)
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loan: Florida Foreign National Investors | Short Term Rental Permits increase the value of your investment property - 12/20/07 08:49 PM
Foreign Nationals looking to purchase 2nd home and investment properties in Florida need to look no further than the availability for Short Term Rental Permits if they want to have the ability to rent out their condominium, single family house, or townhouse when they are not using it much like they … (0 comments)
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loan: Questions For A Client: Refinance With Debt Consolidation - 12/20/07 06:07 PM
If you haven't read "Phase 1: Your First Contact With A Client" then please feel free to do so prior to reading this post which is an extension of the first contact.I briefly mentioned that the first contact with your client should be a relationship building experience. You should be getting … (0 comments)
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loan: arizonas Mortgage rates and trends as of dec 20th 2007 - 12/20/07 03:12 AM
Mortgage Loan Type Today Last Week Change
15 Year Fixed 5.981% 5.895% 0.09%
30 Year Fixed 6.258% 6.157% 0.10%
40 Year Fixed 6.443% 6.342% 0.10%
1 Year ARM 6.536% 6.527% 0.01%
3/1 Year ARM 6.498% 6.455% 0.04%
5/1 Year ARM 6.520% 6.487% 0.03%
So What's everyone's New Years Resolution? What do … (1 comments)
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loan: Annual Mortgage Reviews Bring Borrowers Closer to Achieving Financial Goals - 12/19/07 12:57 AM
Yearly reviews are a great way to keep on track with your financial goals. You're probably already meeting with your financial advisor and other asset manager for quarterly or annual reviews, and you should do the same with your Mortgage Planner as well. An annual mortgage check-up is an ideal way … (2 comments)
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loan: Florida Real Estate Development | Martin County Florida - 12/17/07 03:44 PM
The Palm Beach Post had an article ( link )this week regarding developers in Stuart Florida - the county seat of Martin County Florida. The city officials are bracing for an influx of developers looking for extensions on their development timelines.
Due to the market conditions they have been unable to … (0 comments)
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loan: Florida Affordable Housing | great choice for your College Student than the dorm or apartment - 12/16/07 10:09 AM
Trying to figure out where your college student will live while he/she is at school?
Dorm is reserved for freshman? Frat house is only for parties?
Off campus apartments are in terrible condition and expensive?
Consider buying an affordable housing condominium for your student instead!
Using FHA loans, you can … (4 comments)
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loan: Phase 1: First Contact with Your Client - 12/14/07 07:05 PM
Whether your client has called in, submitted something on the internet in the form of a paper lead, or is a referral they all want to know two things: rate and payment. Right?
It's our job in the mortgage banking and loan origination industry to shift our client's focus from rate to … (2 comments)
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loan: Why Do Good Faith Estimates Vary So Much? - 12/13/07 07:20 PM
A friend of mine is looking to refinance his home and I'm helping him. We gave several brokers the same information; yet the numbers we're seeing vary incredibly.
He has very specific numbers of what his new balance is to be yet the loan officers seem to not be listening to … (7 comments)
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loan: Florida Real Estate | Affordable Housing - 12/13/07 02:58 PM
Are you a developer in Florida and you are looking to build some residential developments but can't figure out the sales angle?
Look no further than affordable housing. Building in the $150,000 - $275,000 range was definitely neglected over the past years of real estate boom. Now it is not … (0 comments)
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loan: Are You in the Moot? - 12/12/07 12:23 PM
Moot. It's not a word used all that much, but it now gets its day in the sun. "Moot," is the most succinct way to describe the recent plan proposed by President Bush to bailout homeowners trapped in subprime mortgages. Actually, it's the mootest, or most moot, plan of inaction ever. … (0 comments)
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loan: What You Need to Know About Credit - 12/12/07 11:43 AM
Why is Good Credit Important?The difference between a 700 FICO score and 698 is one-half percentage point. Meaning, on a $165,000 30-year fixed rate mortgage, that half point could cost you more than $19,000 in interest charges, assuming 6 percent is the lowest rate available.Having good credit and strong FICO score … (0 comments)
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loan: City of LA Homeownership Programs - Fully Expended - 12/12/07 11:39 AM
City of LA's Homeownership Programs have fully Expended fundsWe just got word directly from the LAHD (Los Angeles Housing Department) that the low and moderate income funds for the City of LA purchase assistance programs have been fully expended and/or reserved. As you may or may not know, LAHD receives new … (0 comments)
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loan: FOMC Cut the Feds Fund Rate and the Discount Rate! - 12/11/07 04:14 PM
Great News...the Fed just lowered the Fed Funds Rate and the Discount Rate by .25%!
Overview of the meeting:
The FOMC cut both the Fed Funds rate and the Discount rate by .25%. The Fed will assess new data as it is available and act as needed. Notes were made to a continuing … (3 comments)
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loan: How loan broker s create money in the US economy - 12/10/07 08:59 PM
How loan broker s create money in the US economy
If bank s were Islands, the land of money savers would be on one side of its waters and the land of money borrower s on the other side of its waters. The bridges between the three would be loan broker … (1 comments)
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loan: Caught in the SubPrime Meltdown ? - 12/10/07 06:57 PM
Like millions of homeowners, have you gotton in over your head ? Dreading the thought of your mortgage skyrocketing.... you and millions of people are caught in the middle. There is a way out, a way to save your home, a way to save your credit, to save your good name … (0 comments)
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loan: Core of successful marketing for general notary work (non-loan work) - 12/07/07 07:08 PM
The core of successful marketing for general notary public work is all about:*Knowing what services you can provide - the types of notarizations you can do.*Creating a clear profile of your target market and then carefully studying your demographics to learn where those people live, work, volunteer, and play.Part of creating the … (2 comments)
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loan: Reverse Mortgage (HECM vs Proprietary Bank Program) - 12/06/07 11:59 PM
Over the past couple of days, I have recieved several questions regarding HECM/HECL loans vs. proprietary bank Reverse Mortgages. Here's the deal on these:HECM (Home Equity Conversion Mortgage) or also known as HECL (Home Equity Conversion Loan). These programs are backed by FHA, and typically have significantly high closing costs. These … (0 comments)
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loan: How do you feel? - 12/05/07 11:28 PM
About the proposed adjustable loan bail-out? The news reported a proposed bill where adjustable interest rates would be frozen for 5 years. Since there are $350B in loans that will adjust in 2008, this would save over 1 Million people from facing increased payments...possibly more than they can afford.
As a real … (4 comments)
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loan: Urgent Call to Action for California Realtors, Banks, Mortgage Brokers, Loan Officers - 12/05/07 09:00 PM
Call-for-Action! C.A.R. and NAR Need Your Help to Increase Access to FHA
and GSE (Government Sponsored Enterprises) Loan Products!
Contact Senator Boxer Today!
C.A.R. and NAR are SUPPORTING Senate Bill 2338 (Dodd) which, among other things, increases FHA loan limits to 100% of conforming loan limits.
C.A.R. and NAR are also urging the U.S. Senate … (1 comments)
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loan: Buyer tips - 12/03/07 05:33 AM
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loan: The cost of your mortgage loan - 12/03/07 05:24 AM
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loan: What to expect after offer is accepted - 12/03/07 05:07 AM
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