port charlotte: Grassy Point in Port Charlotte, Florida ~ A Stunning Paradise - 07/21/08 02:27 PM
Grassy Point in Port Charlotte, Florida ~ Luxury Waterfront Homes ~ Florida at Its Best
Exclusive, prestigious and luxurious, Grassy Point leaves nothing to be desired. Located directly on the Port Charlotte waterfront, this gated community keeps professional security on staff 24/7 to ensure complete privacy and seclusion. You'll feel … (0 comments)
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port charlotte: Southwest Florida Business Networking events this coming week: - 07/21/08 07:54 AM
I know of the following Business Networking events this coming week:
Monday - Jul 21, 2008
- Sarasota County:
- - Venice - PNL Venice
Tuesday - July 22, 2008
- Manatee County:
- - Open Network Bradenton 11:45AM Cost is $10 @ Stacey's Buffet 4848 14th St. W (US 41)
- … (2 comments)
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port charlotte: To get 'that feeling' about reverse mortgages? - 07/19/08 07:40 AM
To all those that are regular forward mortgage brokers/loan officers - do you ever get "that feeling"of helping a person save their home from foreclosure? Very few, if any mortgage brokers/loan officers put an immediate stop to a foreclosure, and halt it in its' tracks - oh yes, sometimes you can get a person … (2 comments)
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port charlotte: Sarasota & Charlotte Counties are a Hot Market! - 07/14/08 07:52 AM
It seems that the log jam has began to break! Both Sarasota and Charlotte county, North Port, Venice, Englewood and Port Charlotte to be more specific increased by 24% on sales in May over April and is up 11% over sales last May. Many people who were waiting for the bottom to hit … (0 comments)
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port charlotte: Do you like Mexican Food - Try LaEsperanza in Port Charlotte, FL - 07/12/08 04:39 PM
A little south of the main Port Charlotte Town Center Mall, with all the brand name restaurants, there is an excellent Mexican Food Restaurant called LaEsperanza. It was started in Fort Myers, then expanded into Punta Gorda. Then they expanded into Port Charlotte. After Hurricane Charlie severely damaged the Punta Gorda restaurant, … (5 comments)
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port charlotte: A question for insurance agents here on AR. . . - 07/12/08 01:18 PM
I saw someone bring up a very good question that received no answers. I have seen the same thing as notary signing agent - extreme insurance rates for the same property. As a CNSA, I often see the rates most everyone is paying, and I get a pretty good feel for … (2 comments)
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port charlotte: 50,000 + 1 AR Points - I'm thrilled. Thanks AR! - 07/10/08 08:50 AM
This was not my fastest 10,000 points (tied for 2nd fastest) here on AR, and I must say I am glad to be back blogging! I'll continues to try and be faithful in the future as I love it here. It took me 13 days to reach 10,000, 17 days until 20,000, and 23 days … (7 comments)
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port charlotte: It is LONG overdue we look at our laws and make some changes! - 07/04/08 07:07 AM
Last night as I listened to the fireworks go off, I sat here and thought about something. I had started thinking about this same thing ealier in the day at my networking group on an entirely different subject, but the same nonsense! WE NEED TO CHANGE OUR LAWS.
I know not all … (8 comments)
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port charlotte: How expensive is gas anyway? - 06/29/08 09:28 AM
This past week, I found a website that I am thrilled about - gasbuddy.com where you can find the lowest price gas in your area as reported by fellow members. Driving 3-5000 miles a month, this is a great tool! The way it works is, after you sign up, and you … (5 comments)
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port charlotte: Southwest Florida Business Networking events this coming week: - 06/29/08 08:37 AM
I know of the following Business Networking events this coming week:
Monday - Jun 30, 2008
- Sarasota County:
- - Venice - Power Networking Lunch 11:45 - 1PM Cost is $15 Left Coast Seafood 750 US Hwy 41
- - - Bypass N
Tuesday - July 01, 2008
- Manatee … (0 comments)
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port charlotte: Reverse Mortgages are only for the poor, correct? - 06/27/08 10:42 AM
Answer: Absolutely FALSE!
While many that get reverse mortgages are struggling to pay for food, medicine and for the roof over their head, how much money you have or do not have has NO bearing on your approval or lack of approval. How old you are, how much equity you have … (3 comments)
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port charlotte: Do you understand network marketing? Are you benefiting here on AR? - 06/27/08 07:48 AM
When I ask these questions, I am referring to Active Rain. It is not the more common thought of network marketing such as you local chamber of commerce, BNI, etc. But AR is a form of network marketing. And network marketing, WHEN DONE CORRECTLY, can be VERY powerful and useful! It normally will … (11 comments)
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port charlotte: I am considering a reverse mortgage, what are your thoughts? And WHY? - 06/27/08 06:54 AM
Of course, I am not old enough to get one. And it would not take you long to read my blog to learn that I am a big proponent of them, and I get annoyed when people spread completely false information about them. If they chose not to get a reverse mortgage … (4 comments)
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port charlotte: Help feed the needy and poor! S.H.A.R.E Florida - 06/25/08 08:56 AM
The July basic package selection is out -
1 lb Perri Sweet Italian Sausage
2.55 lbs Chicken Roaster Drums
1.8 lbs Split Chicken Breasts
12 oz Sandwich Steaks
1 lb Bone in CEnter Cut Pork Chops
Variety fresh fruits & vegetables
They don't have the price, but it should be around … (0 comments)
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port charlotte: So, how many Reverse Mortgages are being forclosed upon? - 06/25/08 06:50 AM
Although I have always held the belief, and felt strongly that it was correct, as usual, I like to have hard irrefutable facts backing up my opinion, no matter how strong or how much I feel I can justify my belief. As mentioned in several of my blogs lately, I have … (10 comments)
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port charlotte: Things are happening in Southwest Florida! - 06/24/08 07:55 PM
I don't care about the doom and gloom being perpetuated in the national media, cause I've got to tell ya;
Things are really happening in Southwest Florida!
No bout a dout it!
We've got first time homebuyers;
They're baaaaaaaack! and they're extremely happy, you've got to see the smiles at … (6 comments)
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port charlotte: Who are these Consumers? - 06/24/08 07:15 PM
CNNMoney.com has an article today which states, "Economists should listen to consumers."
But,
Who are these consumers we should listen to?
There are 5000 of them and they were surveyed by The Conference Board, a well respected private business research group, so we're told. Personally I don't know anything about The Conference … (2 comments)
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port charlotte: If a reverse mortgage balance exceeds the home value, I will be forced out of my home, correct? - 06/23/08 10:23 AM
Answer - ABSOLUTELY FALSE!
No matter what age you live to, no matter if the loan ever exceeds the home value by any amount, and these days that is happening a lot with the depressed home values, you REMAIN in your home as long as you want and are able to live there! … (0 comments)
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port charlotte: 40,000 points now and climbing! Thank you again, it is amazing here on AR! - 06/23/08 09:15 AM
This was my slowest 10,000 points here on AR, and I must say I do miss the ongoing AR 'work' of blogging and commenting. But I'll try and be more faithful in the future. It took me 13 days to reach 10,000, 17 days until 20,000, and 23 days until 30,000. Then, … (12 comments)
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port charlotte: CAN THEY PROVE IT! - 06/23/08 08:59 AM
There's a really interesting phenomenon that I've heard mentioned several times in regards to the foreclosure process. Here it is;
Do the mortgage holders have a copy of the note and mortgage?
They may not! as crazy as that seems.
That raises the question can they prove that you owe the … (11 comments)
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port charlotte: Southwest Florida Business Networking events this coming week: - 06/22/08 10:43 AM
I know of the following Business Networking events this coming week:
Monday - Jun 23, 2008
- Sarasota County:
- - Venice - Power Networking Lunch 11:45 - 1PM Cost is $15 Unknown Location at this time.
Tuesday - June 24, 2008
- Manatee County:
- - Open Network Bradenton 11:45AM … (0 comments)
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port charlotte: My 100th Active Rain Blog - WOW! Thank you to everyone here @ Active Rain! - 06/21/08 10:52 AM
A little shy of a year ago, I stumbled upon a website - activerain.com. I wasn't sure what to make of it at first, but I started looking at the many blogs of everyone there. Wow, the information they had, I could see it was a great source of information. Sometimes … (3 comments)
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port charlotte: S.H.A.R.E.Florida.org - For everyone in Florida - pass it along please!! - 06/16/08 09:54 PM
I honestly just learned about this a couple of weeks ago, but it is a SUPER GREAT VOLUNTEER PROGRAM!! It is intended to help the poor & elderly. Visit shareflorida.org and learn how you can help volunteer. If you can't donate your time and help, purchase some food from them, then take it … (0 comments)
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port charlotte: Reverse Mortgage Costs - how expensive are they? - 06/16/08 01:24 PM
As a follow-up to my blog, AGAIN, before you say no to a reverse mortgage, learn the correct facts! Don't believe the myths! as well as my blog, Are Reverse Mortgages costs so much more than regular mortgages? and also several people commenting about the costs on the blog of Mr Jones, … (2 comments)
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port charlotte: Southwest Florida Business Networking events this coming week: - 06/15/08 10:51 AM
I know of the following Business Networking events this coming week:
Monday - Jun 16, 2008
- Sarasota County:
- - Venice - Power Networking Lunch 11:45 - 1PM Cost is $15 Casey's in Venice.
Tuesday - June 17, 2008
- Manatee County:
- - Open Network Bradenton 11:45AM Cost is … (0 comments)
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port charlotte: If you have bad credit, foreclosure, or bankruptcy on your credit, can you get a reverse mortgage? - 06/14/08 10:09 PM
Answer - YES! This is one of those rare questions though that needs a complete explanation and does come with an asterisk.
Having any or even all of these items on your credit report does not effect approval, BUT, if you are in bankruptcy, it must be discharged prior to getting … (3 comments)
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port charlotte: Does my Buyer still Qualify? - 06/12/08 10:17 AM
Opps, the loan officer didn't lock the rate and the rates increased, does my buyer still qualify?
Well maybe, but maybe not!
In todays world of restricted quidelines a buyer who has an approval at 6.5% may lose that approval if the rate increases to 6.75%. We may not like it, … (4 comments)
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port charlotte: Interest Rates, Pay Attention Now! - 06/12/08 09:56 AM
So, what's going on with rates? I checked the market first thing this morning and we were getting crushed.
Colin Barr, a senior writer for "Fortune," reports that the Fed has reversed its course. That fighting inflation is now its priority. That would mean that there will not be any … (10 comments)
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port charlotte: Beware! when purchasing a Condo - 06/04/08 11:14 AM
Why? you may ask?
Well in Southwest Florida, where I live, there are a lot of condo's and a couple areas of concern. As a lender the first question that I ask a buyer or a Realtor, in regards to the condo, is what is the investor ratio. Lenders feel, and the … (8 comments)
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port charlotte: This MUST be a misprint! - 05/29/08 02:26 PM
I had to run and get my glasses to make sure the headline said, what I thought it said.
CNNMoney.com 5/29/08
"Economy grows faster than first believed"
The first quarter growth rate was adjusted up from .6% to .9%. Okay so you don't think that this is a big deal. … (13 comments)
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port charlotte: How come they NEVER call ME! - 05/27/08 10:09 AM
I'm 55 years old and I have never received a single phone call from anyone doing a consumer confidence survey. It has to be because I'm an optimist.
That's a rule;
Those conducting the Consumer Confidence Survey are not allowed to call anyone recognized as an Optimist.
How could they know … (8 comments)
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port charlotte: Pre foreclosures and Short Sales - 05/25/08 02:10 PM
With the economy the way it is many good people are facing foreclosure that would never have dreamed that it would happen to them. Unfortunately home prices have plummeted and people have been forced into a position of having to give up or walk away from their homes since they owe … (0 comments)
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port charlotte: False perception of available homes for sale - 05/25/08 01:58 PM
One item that is giving buyers a false perception of the local market is "Short Sales". In all cases the list price on short sales is subject to 3rd party approval (the bank) and in all cases the list price may not be sufficient to cover the liens mortgages and encumbrances … (0 comments)
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port charlotte: Foreclosures and Short Sales - 05/25/08 01:49 PM
Foreclosures and short sales are the buzz words and these are what is selling in the Venice, Englewood, North Port and Port Charlotte Florida market. There seems to be many people that do not know the difference between a short sale and a foreclosure. They are not the same. A foreclosure … (0 comments)
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port charlotte: Update on The Real Estate Market in Venice,Port Charlotte and North Port Florida - 05/25/08 12:51 PM
The market runs in cycles and history repeats itself. The real estate market went through this same phase in the early 1990's. Property values plummetted and the aftermath was foreclosures. Foreclosures are a sad thing but they are also the markets way of curing itself. They create activity in the market … (0 comments)
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port charlotte: NEWS FLORIDA! The Cape's Sizzling! - 05/24/08 08:01 AM
Just give it time and the market will cure itself.
Things are really COOKIN in Cape Coral.
The Bus Driver says, "the bottoms gone!" and many agree.
Rainer Scott Slocum, Florida Future Realty, tells me that lenders with foreclosures appear anxious to move those properties. That's a great sign.
His … (9 comments)
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port charlotte: Approvals, Tougher to get! - 05/13/08 07:26 AM
It's not just the more restrictive guidelienes, it's the excessive paperwork and the underwriting.
It use to be that you would get an AUS (automated underwriting system) approval upfront and away you'd go. You'd address the findings and the conditions, package the loan, and ship it off to the underwriter for … (12 comments)
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port charlotte: Southwest Florida Business Networking events this coming week: - 05/11/08 02:19 PM
I know of the following Business Networking events this coming week:
Monday - May 12, 2008
- Sarasota County:
- - Venice - Power Networking Lunch 11:45 - 1PM Cost is $15
Tuesday - May 13, 2008
- Manatee County:
- - Open Network Bradenton 11:45AM Cost is $10 @ Stacey's Buffet … (3 comments)
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port charlotte: Foreclosure Benefits - 05/06/08 07:43 AM
From Websters;
benefit anything contributing to improvement.
Once again this morning as I attempted to access some financial info, to see where interests are heading,one of my favorite sources CNNMoney.com leads with the following;
Bernanke: foreclosure woes require action, price declines have become one of the biggest contributors to high default rates
I agree to a … (4 comments)
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port charlotte: What's Happening in Southwest Florida - 05/03/08 07:15 PM
I can't ever remember being in a market that has the characteristics that exist currently in southwest Florida. There are some things going on here that make it so, if you're not physically here you cannot truly understand our market.
In order to truly understand the market here you have to be … (8 comments)
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port charlotte: 15457 Lakeland Circle, Port Charlotte Florida 33981 - 05/03/08 09:15 AM
… (0 comments)
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port charlotte: You Just CAN'T Have It Both Ways! - 04/29/08 04:40 PM
For months I've been watching the national media bash lenders and brokers for their irresponsible behavior in offering "subprime" and "exotic" mortgages. The articles would go on about how the innocent borrowers were totally taken advantage of by the unscrupulous mortgage lenders, and their compatriots the mortgage brokers.
All this time, however, … (6 comments)
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port charlotte: TRULY ABSURD!!! - 04/28/08 11:13 AM
Webster's
absurd ridiculous
If it wasn't so sad I'd die laughing. I also kept on thinking that the article must be satirical, but it's not.
CNNMoney.com staff writer Les Christie recently wrote an article entitled "Good credit can't protect borrowers from bad loans." Maybe the real issue is can borrowers protect themselves from, well … (9 comments)
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port charlotte: Fishing Capital of the World - 04/27/08 01:26 PM
… (2 comments)
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port charlotte: No Wonder He's Still Grinning! - 04/26/08 08:48 AM
Have you ever seen pictures of someone grinning that just made you feel uneasy. Kinda like they looked like they were trying to smile, but just couldn't get there. Kinda like there was something maybe evil hidden behind the grin, or maybe you were being laughed at, and it was being … (14 comments)
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port charlotte: Something's Happening in Cape Coral, Florida - 04/24/08 10:48 AM
We've been trying to keep it a secret, and we've been getting a lot of help from the national and local media, but the markets making a move in the Cape.
Please, don't tell anyone.
Our pending sales are up dramatically.
Shhh!
And,
There's a remarkable pickup in the number of cash transactions. I'm a … (6 comments)
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port charlotte: The Bus Driver Rocks Cape Coral (and Lee County)! - 04/23/08 09:41 AM
I live and work in Cape Coral, which is part of Lee County. For months I've read about doom and gloom from the national and local media, although the local media is starting to come around, as they cannot ignore the market improvement. While we're not the largest city in Florida, … (7 comments)
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port charlotte: Fortune 500's biggest winners, SURPRISE!SURPRISE!SURPRISE! - 04/23/08 09:18 AM
Okay, if you want to find this type of information sometimes you have to dig for it. Hidden in the bowels of CNNfn Money.com is the data about the Fortune 500's biggest winners, meaning profit makers, for 2007.
Now, there can't possibly be any banking type institutions, right?
Well, not so fast. it appears … (3 comments)
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port charlotte: Market indicators; Closed versus Pending Sales - 04/13/08 03:13 PM
It's got to be a no brainer! Closed sales are just that closed sales, and can be the only true indicator as to what's going on in your market.
Well, not so fast!
While we all know that not all pending sales will close, the information is fresh, and therefore is a better … (13 comments)
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port charlotte: I've solved the subprime mess! - 04/13/08 02:42 PM
My solution is composed of two parts;
The first part is to ban any/all articles that even mention subprime loans or hint that they are mentioning subprime loans by any/all media sources. This ban will be for a minimum of 1 year, but may be extended.
The thinking here is two fold;
First: … (12 comments)
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port charlotte: FHA! Better! Better! Best! - 04/01/08 09:33 AM
It's an FHA market for those that qualify. Despite more restrictive guidelines, which the market feels necessary, FHA is THE way to go.
If you have low/no downpayment needs;
Well the courts ruled in Amerifund's favor and the downpayment assistance program is alive and well.
Low credit scores;
Well while the market is attempting to … (2 comments)
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port charlotte: Necessary Evil? Opportunity? or just Greed? - 04/01/08 08:42 AM
I'm sitting here with the FNMA "New Flow Business Pricing Requirements," announced on March 6th and effective June 1st, which essentially means that lenders will start adhering to these guidelines now.
Frankly, as I review the charts I'm shaking my head in disbelief.
First, is this just a necessary evil?
Does FNMA need to … (6 comments)
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port charlotte: Somebody explain this to me! - 03/28/08 08:11 AM
Fortune magazine (online) headline by author Colin Barr.
"Big Check for Countrywide Exec."
Before I even began reading the article the following thought immediately popped into my mind:
WHY?
B of A will pay CW's #2 man, President David Sambol, $28 million in cash and stock if he sticks around for 3 years.
Why, why, why, … (17 comments)
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port charlotte: FHA/Conventional loans-where are we? - 03/24/08 12:29 PM
Okay, so to start off with, we have your good olde conventional loans, well not exactly. I'm in Southwest Florida, so we have reduced LTV's, with more restrictive guidelines. PMI doesn't like us much, and is resistent to insure our loans, if they'll insure them at all.
FNMA & FHLMC have gone … (3 comments)
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port charlotte: Southwest Florida Business Networking events this coming week: - 03/23/08 12:42 PM
I know of the following Business Networking events this coming week:
Monday - - Venice - Power Networking Lunch 11:45 - 1PM Cost is $15 Tuesday - Manatee County - Open Network Bradenton 11:45AM Cost is $10 - - Stacey's Buffet 4848 14th St. W (US 41) Bradenton - … (3 comments)
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port charlotte: Are Reverse Mortgages costs so much more than regular mortgages? - 03/23/08 11:22 AM
When speaking to Realtors, and even other mortgage brokers/lenders, etc., those that frown upon Reverse Mortgages often list their costs as way to high as one of their reasons they steer their clients away from them. As a Certified Mortgage Notary Signing Agent, I see all kinds of loans, and while … (3 comments)
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port charlotte: Are Subprime loans making a comeback? - 03/23/08 10:15 AM
This past week I received three different contacts from "subprime" lenders looking for new business.
I told the national sales manager of the first company that called that I didn't know what a subprime loan is. He stated that they were looking for FHA near misses. But unless he has a … (11 comments)
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port charlotte: Twisted Thinking? - 03/19/08 08:23 AM
James Cooper has written an article in Business Week entitled, " It sure looks like a recession." The media loves this word, RECESSION! It's one of the words which can strike fear in an individual, so let's use it as often as possible. It's great for sales!
Once again, a recession by … (5 comments)
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port charlotte: FEAR!!! - 03/18/08 08:00 AM
Finally, it's out in the open. In a CNNMoney.com article this morning entitled "Why the Fed can't put out the fire," David Wyss, Standard & Poor's chief economist let's the cat out of the bag.
In regards to the Fed's actions he says, "It doesn't adress the fundamenatl problems, which is that the … (6 comments)
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port charlotte: Chairman Bernanke-Mortgage Underwriter? - 03/17/08 09:37 AM
I waited a few days after reading a CNNMoney.com article entitled "Bernanke outlines mortgage help plan-Fed chief says central bank "strongly committed to easing mortgage crisis," to see if it still struck me as being so odd that the Fed wanted to venture into the world of "mortgage underwriting."
While I'm happy … (6 comments)
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port charlotte: Stated/No Income Verification Loans-They've been around forever! - 03/17/08 08:31 AM
From a historical perspective Stated/No income verification loans have been around forever. However, we may have not called them that. For you newbees you may not remember the good old "loan committes" at your local bank. Back in those days we did something called portfolio loans.
So what is a "portfolio loan?"
Essentially … (8 comments)
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port charlotte: Fed's Answer-throw $200 Billion at it! (and see if it goes away) - 03/11/08 11:14 AM
In an effort to increase liquidity the Fed is initiating a program to make available $200 Billion in funds to primary dealers, that would be large investment firms which deal directly with the Fed. Seems like some serious change to me.
The big question is will it help?
On the surface you … (6 comments)
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port charlotte: SURPRISE!, the Fed can't fix it! - 03/11/08 08:21 AM
There's a nice article on CNNMoney.com today about the results of the Fed's cuts, or the lack thereof, which began about 6 months ago. The first and most major flaw, in my opinion, is that they are trying to compare the results with those of previous rate cuts dating back to … (12 comments)
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port charlotte: Florida Homestead Exemption and Save-Our-Homes - 03/07/08 12:52 PM
Florida Tax Relief - Homestead Exemption and Save-Our-Homes
In January 2008 Floridians passed Amendment 1, changing property tax exemptions. What does that mean for homeowners?
The Homestead Exemption, formerly $25,000, has been increased to $50,000 for all homesteaded property valued over $75,000.
The additional $25,000 does not apply to school district taxesThe new exemption has … (0 comments)
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port charlotte: Why it's a Good Time to Buy. - 03/07/08 11:23 AM
Why is it a good time to buy?
It is true that home prices have fallen nationwide, and some feel prices may continue to fall over the next year. So why is it a good time to buy?
If you are purchasing a home to live in for the next 8 - … (0 comments)
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port charlotte: Punta Gorda Isles Florida Real Estate - 03/06/08 05:51 PM
Punta Gorda Isles, Florida
Simply Paradise!
Punta Gorda Isles is a community with over 129 square miles of waterfront on Charlotte Harbor with access to the Gulf of Mexico. The Peace River and Myakka River are easily accessible as well - a true fishermans' paradise! Punta Gorda was named one of the top 10 "Best Small … (0 comments)
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port charlotte: Charlotte County Florida Area Real Estate - Port Charlotte, Punta Gorda, Englewood Areas - 03/04/08 06:56 PM
Charlotte County, Florida Area Real Estate
One Diverse County!
Charlotte County, Florida is located between Sarasota and Fort Myers, Florida.
From beautiful beaches to sprawling ranches, Charlotte County is full of diversity. Organized in 1921, this Census Designated Place, has grown to a population of 56,000 in 1980 to approximately 157,000 in 2005. … (1 comments)
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port charlotte: Calling all Realtors - LEARN ABOUT REVERSE MORTGAGES! They can help YOU sell a home! - 03/01/08 12:32 PM
Several times recently, I have talked to local Realtors about Reverse Mortgages. "No", "They are bad", "I've only heard bad things about them", are among the responses I've received lately. Honestly, all Realtors SHOULD want to sell homes, and Reverse Mortgages are another avenue to educate your potential home-buyer! Learn the facts … (0 comments)
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port charlotte: Home (NO) Equity Loans Shutdown - 02/26/08 09:28 AM
The guidelines for new home equity lines don't bear any striking resemblance to what we have seen in the recent past, and the guidelines for the existing lines are changing as fast as you can say ouch! I must say though this looks like prudent behavior to me.
New equity lines are going … (4 comments)
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port charlotte: Let's hear it! LOUD & PROUD! - 02/26/08 07:35 AM
I don't know about you, but it seems all I keep seeing are articles about doom and gloom. There's foreclosures, a lack of sales, credit crisis, subprime problems, and so on, and son on, and so on. There is just absolutely nothing positive going on in the marketplace today.
I have a … (4 comments)
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port charlotte: Debt Ratios; How High is TOO High? - 02/20/08 07:57 AM
I was reading an article online this morning about subprime loans that were defaulting before the rates reset. They quoted analyst Michael Youngblood of Freidman, Billings, and Ramsey as being shocked by this fact. I guess we were to believe that Friedman, and whomever were some sort of experts in regards to … (24 comments)
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port charlotte: I Don't Make Enough Money! - 02/18/08 06:52 AM
While the Presidential candidates and the Congress are throwing around bailout plans like there's no tomorrow, there's a problem for many homeowners, which they can't fix. The real problem is;
I don't make enough money!
These homeowners fall into many different categories, but let's just check out a few.
I NEVER made enough money … (16 comments)
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port charlotte: FHA Limit Increases, Are the Loans Saleable? - 02/16/08 09:57 AM
Well, are they?
Don't know yet.
BUT:
There appears to already be some resistance to Fannie's and Freddie's increases, feel free to read "Fannie & Freddie Get the Cold Shoulder."
Larger FHA loans with low or no out of pocket investment may not be saleable, even with the FHA insurance. Investors have been burnt in … (5 comments)
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port charlotte: Fannie & Freddie Get the Cold Shoulder! - 02/16/08 09:33 AM
Fannie & Freddie's loan limits are increasing!
This should help! Yea!
Hold on for just a minute now. Things may not be quite that rosy.
CNNMoney.com reports that the Securities Industry and Financial Markets Association said that the larger loans, above the previous $417,000, will not be allowed on the "To Be Announced" market, … (3 comments)
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port charlotte: And Then, REALITY Sank In! - 02/14/08 08:58 AM
I was reading an article this morning by Les Christie of CNNMoney.com entitled, "Hope Now: When loan workouts don't work out." I think the article points out the naivete' of the writer in that it appears for some reason the writer felt that more/most of the workouts should work.
Why would someone … (2 comments)
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port charlotte: Refinancing (or not!) the Subprimers and Others - 02/08/08 04:27 PM
I was reading an article about how few people could actually take advantage of the current low rates. And it appeared that the emphasis was on the new, more restrictive quidelines. Actually,
I couldn't disagree more!
I'm not sure how all/most loan officers dealt with their subprime clients, but in my case … (0 comments)
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port charlotte: FHA (Loans) CRUSHING Conventional Financing! - 02/08/08 10:24 AM
For comperable loans, within FHA loan limits, the FHA advantage in regards to rates, quidelines, and attitudes is overwhelming.
Check this out!
Rates;
Since fannie/freddie, and essentially all conforming lenders, have gone to the tiered pricing the FHA rates for scores between 620 and 679 look better and better. No hits with FHA! The … (24 comments)
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port charlotte: Oh NO! Good News, Quick Hide it Somewhere. - 02/06/08 09:18 AM
Bury it on the back pages! Delete the articles! Quick do something!
Okay last week I saw the manufacturing index move over 50. That's an indication of growth. opps!
Oil prices today once again are lower. They have slipped under $90 barrel, actually closer to $87. I noticed this when I filled up … (13 comments)
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port charlotte: Advertising Interest Rates, I Can't/Won't Do It! - 02/06/08 08:41 AM
I'm not going to go as far as to say it's not ethical, but I cannot in good conscience engage in advertising interest rates.
Here's a couple of reasons why.
If I quote you a rate Right Now! unless I have an application in hand, and can lock that rate it doesn't mean … (11 comments)
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port charlotte: Candidate's (Mortgage) Promises! - 02/06/08 07:38 AM
If you're like me you're watching the primaries with great interest. This year there seems to be a greater deal of excitement, and I think that that is a good thing. In my opinion everyone should vote. Please don't take this right for granted. There are many people, in many countries, … (7 comments)
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port charlotte: Credit Consequences of Short Sales - 02/05/08 05:40 AM
What are, or what will be the credit consequences of "short sales?"
There seems to be some assumption, in regards to short sales, that the seller's credit rating will not be adversely affected or that the affect will be minimal. After all the mortgage holder has agreed to accept the balance at … (18 comments)
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port charlotte: Different Bottoms - 02/02/08 06:09 AM
Where is the bottom? Are we there yet?
Which one?
I live in Southwest Florida which many feel is an area of declining market values. The lender/investors certainly act that way. However, some think we may have hit the bottom.
Well, I don't think it's quite that easy, or all inclusive.
Take property types for … (7 comments)
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port charlotte: Sellers Waiting for Market to Hit it's Peak! - 02/01/08 08:18 AM
There were many sellers a few years ago who wanted to sell, but didn't want to list their homes until the market peaked. When it looked as if the market had peaked and started to decline, they still didn't list their homes, as they were waiting for it to adjust and … (17 comments)
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port charlotte: Applying Pressure or CRYING OUT FOR HELP! - 01/30/08 09:08 AM
Recently CNNMoney.com's editor Paul R. La Monica wrote an article stating that it was time for Chairman Bernanke to "Man Up." The article's content centered around the premiss that the chairman was not tough enough and was giving in to market pressures to lower rates, and provide more, easier, and less expensive money. … (4 comments)
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port charlotte: The Fed is Coming! The Fed is coming! - 01/28/08 09:49 AM
AREN'T THEY?
CNNMoney.com editor Paul R. La Monica writes it's "Time for Bernacke to 'man up.' "I don't believe he's actually challenging the Fed Chairman's manhood, but rather his toughness. The gist of Editor La Monica's comments are that the markets are pushing the Fed hard for lower rates and that the Fed … (11 comments)
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port charlotte: EXTREMISM!!! - 01/25/08 07:05 PM
Actually, I'm interested in mortgage extremism, and does, or when does, extremism create balance? Sounds like heavy philosophical stuff.
Not Really!
Webster's again;
Extremism going to an extreme (oh really-my addition); very great, excessive.
Okay, we've gone from mortgages, which were exremely easy to acquire, to ones that are becoming extremely difficult.
Now, did … (7 comments)
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port charlotte: Why Money's So Tough to Get! - 01/25/08 06:32 PM
I was just reading a blog which mentioned that money had gotten tougher to get. I thought about that for a moment.
WHY WOULD THAT BE?
DA!
It couldn't have possibly gotten any easier!!!
If you were a loan officer/broker you didn't need to have a great deal of knowledge. You really just needed to … (4 comments)
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port charlotte: Bank Failures Galore! - 01/23/08 07:01 AM
Please excuse me for using a technique that I've learned from the national media. That is, get that headline that draws attention, even if it isn't supported by the articles content.
I was reading an article from Fortune posted on CNNMoney.com entitled "Banks are down, but not yet out," and it … (8 comments)
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port charlotte: FED Rate Cut! Good thing? Bad Thing? - 01/22/08 09:15 AM
Okay, I thought we might need a shock to the system and here it is. A 3/4% intermeeting rate cut IS a Big deal. This is the first intermeeting cut since 2001. BUT is it a good thing? or is it a bad thing?
Initially the stock market opened with a big sell off, … (10 comments)
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port charlotte: Emotional WORDS! - 01/21/08 02:45 PM
Emotion; strong feeling as of love,fear,anger, etc.
I've always wondered how much "emotion" played in the purchase and/or sale of a piece of property. I'm sure most experienced Realtors can tell you about sellers who thought their home had a certain value, well because it was theirs. The old it's worth more … (5 comments)
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port charlotte: Recession-by definition - 01/18/08 10:51 AM
We're in a recession, we're not in a recession, we are going into recession, we might go into a recession. So where are we, and where are we headed?
I saw Chairman Bernanke on TV the other night and he said that we are headed for a period of reduced growth. Okay, … (6 comments)
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port charlotte: The Head Shakers! - 01/18/08 07:04 AM
There's a new field in the real estate industry, it's the "head shakers." They used to be called appraisers, but that was a while ago. I had one in my office yesterday, he's a great guy, and I've known him for years.
I asked him how business was, and he just shook … (9 comments)
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port charlotte: It's a shame! - 01/18/08 06:44 AM
I'm in Southwest Florida, an area which has been hit hard by declining market values, and I basically don't do refinances. Not because I wouldn't, mind you, but because many/most homeowners don't have any equity.
There are two basic groups who have a problem. The first I don't have any sympathy for, but the … (7 comments)
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port charlotte: How to Juice the Economy! - 01/16/08 09:21 AM
Yes, I've been reading CNNMoney.com again. Boy, I love them. If our economic situation wasn't so serious, some of the info might be comical.
Try this one; the headline reads, "Washington's hard case: How to Juice the Economy."
Apparently Congress has schedule hearings to evaluate stimilus packages, but they're really not sure what … (4 comments)
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port charlotte: FED RATE CUT, Now or Later? - 01/16/08 08:56 AM
A CNNMoney.com article yesterday screamed, " Wall Street to Fed, Cut rates now!" The biggest problem with this, is that after reading the article, I don't see anything that supports the headline. My meaning is that the headline and the content don't go together. So what else is new?
It did, however, … (7 comments)
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port charlotte: The FHA Pricing Advantage! - 01/11/08 07:01 AM
Okay, most of the conventional lenders are going to price up the loans for what are their riskiest clients. That would be those with scores in the 620 to 679 range. And upon further review, it's still football season, the markup for scores from 620-639 is fairly substantial. I believe I saw up … (9 comments)
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port charlotte: Time To SHINE!!! - 01/11/08 06:33 AM
When I read the articles written by the national media and by many bloggers, who continue to whine about our current markets, and our economy, I can only reach one conclusion.
CHESSE sales must be at an all time high!
With all that whining, it has to be true. Everybody looking for a hot … (4 comments)
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port charlotte: FANNIE/FREDDIE/GOVERNMENT GUIDELINES VS "INVESTOR QUALITY" - 01/08/08 08:33 AM
Wow, what a time to be a mortgage lender, particularly in Southwest Florida. In case you're wondering why Southwest Florida is so special, well first it is because it's just so beautiful, but as a mortgage lender it's also considered an area of declining market values. Because of the values, it's … (3 comments)
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port charlotte: Headlines & More Headlines! - 01/05/08 09:48 AM
If it wasn't so real it would be comical.
All of these came from CNNMoney.com and the articles were published yesterday.
"Jobs Weak, Unemployment Soars."
Well, I've said this before but it's worth mentioning again and this article certainly reinforces it. The job reporting system is flawed at best.
The report shows that there … (6 comments)
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port charlotte: 2008 Marketing Plan! - 01/02/08 10:18 AM
It's January 2nd, do you have your written, clearly defined, business marketing plan for 2008?
If you don't, don't waste your time (and $$$) going to any of the production seminars, because the first thing that they will ask is, "how many people have a written, clearly defined, marketing plan. Raise your … (7 comments)
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