indiana mortgage: OK, I Give UP! - 04/17/08 10:50 PM
Hey Folks!
Tony Grego here from Sagamore Home Mortgage in Lebanon, Indiana. Your partner with all your home lending needs.
Yes, I have been away for a couple of weeks.
Yes, I have been under some big time medication.
Yes, I hate typing with one finger/hand.
Yes, I have a hard time sitting at a monitor for an extended period of time.
I get back here to Active Rain, a great way to promote business and learn and I see just about everyone with these great changes to their post pages.
Great Designs
Great Pictures
Great Colors
Great Ideas
OK, … (6 comments)

indiana mortgage: Where Did We Learn All Of This Stuff? - 04/15/08 02:16 PM
Hey Folks!
Just trying to get back into the swing of things (Doctors says no to golf this year) on a keyboard. Now I have a great reason for all my spelling and grammar errors.
Anyway, I am helping (or he is helping me) William, the younger of the two put his socks and shoes on. Hint, if you're looking for a challenge try it with one hand. So I am half way done (you see, I put on one sock, then one shoe) and William is yelling "no Daddy, two feet, two feet." I then look at him a little strange (this … (2 comments)

indiana mortgage: Video of the Day - Yes, Spring is Here..... - 04/03/08 03:56 PM
Hey Folks!
As I was putting on my long sleeves and a heavier than normal jacket for the day I realized that it must be spring here in Indiana. The time of year when folks are buying homes and getting mortgages. Maybe you were at the home show and need a second mortgage or a HELOC (btw, we use a really good company with great rates and terms for HELOC's).
So what better way to welcome spring but by watching a little video about the birds and the bees, and a computer.
A computer? Guess you will have to see
… (0 comments)

indiana mortgage: The Internet Has No Closing Costs? - 03/25/08 06:39 PM
So we spend some time together. I get to know about you and your financial goals for your home and your family. I go to work to find a great mortgage solution for these goals. Meet up with you and present everything in black and white with closing cost guarantees. Then..........

Whoa you say! I saw on TV a ad for no closing cost and your charging me $$$!
So what do I do now? I learned a long time ago that it is much easier to write' em vs fight' em. UH? Again I am going to present … (27 comments)

indiana mortgage: Home-buying Mistakes to watch - 03/24/08 03:52 PM
Spring is here and the home buying market is gearing up. Now if your a first time home buyer or an experience veteran you will want to read this post. I listed home-buying mistakes that most people even the most seasoned home buyer might commit. Find a home without pre-qualification and pre-approval: There are buyers who start shopping for a home without getting pre-qualified and pre-approved. If you get pre-qualified with a broker or lender before seeking a home, you can convince the seller of your ability of getting a mortgage loan. A letter from the lender or broker to the … (0 comments)

indiana mortgage: Video of the Day - Happy Easter! - 03/20/08 10:32 AM
What a week it has been? Up's and Down's with mortgage rates. Crazy weather here in the Indiana. First day of Spring and now this Sunday is Easter. I know that many of us are going to take a well deserved break. Many lenders and local companies will be closed tomorrow so I just wanted to spread a little early Easter cheer!
 


 
Happy Easter to all from my family to yours!
 
 
… (5 comments)

indiana mortgage: Why You Should Lock Your Rate This Morning - 03/18/08 08:46 AM
Good Morning Folks!
In about 20 minutes rates will be posted for today, March 18, 2008. FEDS meet at 2:15 today. If the trends follow what they have done since September everyone should lock this morning.
Since September, rates have been the lowest the morning of a FED meeting. Investors have sent out rate increases right after the FED announcement. Don't understand why, just know that it has happened everytime.
If you have not locked I would recommend locking first thing this morning.
Good luck and Good Selling
Tony Grego - Indiana Mortgage Company
… (2 comments)

indiana mortgage: Details of Indiana Property Tax Bill HB 1001 - 03/16/08 04:27 PM
While I am reading the entire 890-page report (if your have a hard time sleeping send me a email and I will forward it), I did find this great summary on the associated press. I have "bold type" some of the key provisions.   GEN. ASSEMBLY: Details of tax plan
The Associated Press — The Indiana General Assembly on Friday passed a property tax relief and restructuring plan that would provide additional tax cuts for homeowners this year and cap future bills for most property owners. A look at the highlights of the legislation. AV means assessed value.
— Increases sales tax from … (0 comments)

indiana mortgage: New Indiana Property Tax Law Passes House - 03/14/08 02:13 PM
***BREAKING NEWS***BREAKING NEWS**
Help may be on the way soon for Hoosiers and property taxes. The Indiana House voted 82-17 Friday afternoon to pas a property-tax reform that would cut the average tax bill boy about 30% this year.
HB 1001 is now law. It provides immediate tax relief, caps on property taxes, the elimination of some township assessors, referendums on major building projects and spending controls for local government.
House Minority Leader Brian Bosma says "I truly believe what we have before us is the strongest property-tax reform measure this state has seen in nearly two generations."
Folks this is … (4 comments)

indiana mortgage: Don't Take No For An Answer - 03/12/08 09:51 AM
Good Wednesday Folks!
Hey it is hump day so it must be time to hump for some business. Now this post is for professionals and consumers alike.
Just a couple of years ago when the mortgage market was booming Indiana Mortgage Brokers like me had plenty of sources to place your mortgage. If you were turned down with one mortgage company, no problem. We would just find another. Then about a year and half ago some of these mortgage companies started to close down. Then more and more. In fact, 236 to date; to get a complete list just go to … (7 comments)

indiana mortgage: Tips for 1st Time Homebuyers - 03/10/08 06:21 PM
While I am not going to get into rates and terms. Plenty is already posted about that I just hope everyone had as good as of day as I did talking to potential first time homebuyers. Not sure why, maybe it was the time change but I spoke with three different folks that have decided to take the leap and buy a home. I listed a few items you can share (and I hope get you a sale) with new clients with regards to mortgage questions.
1. Figure out what you can afford. There are plenty of mortgage calculators out there … (7 comments)

indiana mortgage: Might as Well Join the Party! It is a Great One! - 03/06/08 01:01 PM
Indiana revised FHA mortgage limits listed here per county. Should offer plenty of help to help purchase and refinanced mortgages. For more information about FHA please drop me, Tony Grego - Indiana Mortgage Company a email and I will answer all of your questions. Let go the FHA way!
… (0 comments)

indiana mortgage: Mortgage Basics - What is PMI? - 02/11/08 02:00 PM
 
To follow up on an earlier blog about mortgage insurance changes I wanted to explain just want MI is?
PMI or MI is called many things:
Mortgage Insurance Personal Mortgage InsuranceMortgage Insurance Premium IT SHOULD BE "PROTECTS MORTGAGE INVESTOR" here's why, 
When a potential homeowner needs a new mortgage or a current homeowner refinances a current mortgage and your loan-to-value is above 80% of the appraised value, conforming mortgages (these are the mortgages with all of the good rates and terms) will be required.
Now I am not going into all of the details of how to "get around" PMI for your mortgage (if you like drop me … (2 comments)

indiana mortgage: WARNING: Don't Choose a Broker/Mortgage Lender until you read this FREE Report! - 02/10/08 06:41 PM
WARNING: Don't Choose a Broker/Mortgage Lender until you read this FREE Report!
7 Questions Lenders Hate!
There are tens of thousands of mortgage companies in America. In some states, you don't even need a license or any experience to originate mortgages.
Because of the sheer amount of choices you will have when you go to obtain a mortgage loan, you need to ask some specific questions before choosing a lender. Asking the right questions will help you find a lender who will offer you great service and low rates/fees. It might also help you avoid a mortgage scam.
Remember, as the client, you are in … (3 comments)

indiana mortgage: WARNING: Don't Choose a Broker/Mortgage Lender until you read this FREE Report! - 02/10/08 06:41 PM
WARNING: Don't Choose a Broker/Mortgage Lender until you read this FREE Report!
7 Questions Lenders Hate!
There are tens of thousands of mortgage companies in America. In some states, you don't even need a license or any experience to originate mortgages.
Because of the sheer amount of choices you will have when you go to obtain a mortgage loan, you need to ask some specific questions before choosing a lender. Asking the right questions will help you find a lender who will offer you great service and low rates/fees. It might also help you avoid a mortgage scam.
Remember, as the client, you are in … (3 comments)

indiana mortgage: Mortgage Basics - Today, Just Make the Right DECISION - 02/10/08 08:46 AM

Well, its Sunday morning. Hope it is going well for you? For me, like most Sundays, it is a day of decision. How did it start?
Central Indiana had a big drop in temperature last night. While we enjoyed a 50 degree day on Saturday it is now single digits with a crisp 30 - 40 mile an hour wind. While I would have LIKED (get ready to hear that word a bunch this blog) to stay in bed, I made the DECISION (another word of note) to write this blog. While writing this blog I would have LIKED to finish … (2 comments)

indiana mortgage: Mortgage Basics - "Urgent Breaking News" - 02/09/08 09:52 AM
 
Mortgage Guaranty Insurance Corporation (MGIC), one of the nations top provider of mortgage insurance announces major policy changes.
Effective March 3, 2008 MGIC is revamping credit score guidelines that will have MAJOR implications with new and refinanced mortgages.
Current guidelines allow mortgage insurance (PMI) for consumers with a minimum LOW credit score of 575. Please note that while mid-credit scores are used to qualify for a mortgage, PMI is based on the LOW credit score (regardless of income). Starting on or after March 3, 2008 the minimum LOW credit score will be 620.
Along with a rise in scores the maximum loan-to-value (LTV) will be … (8 comments)

indiana mortgage: Mortgage Basics - Let’s Talk Value (LTV)! - 02/08/08 10:06 AM

Hope everyone has been enjoying my mortgage basic tips this week? With all of focus on mortgage rates and if it is the right time to get a new mortgage to buy a house or is it the time to re-finance your current mortgage I feel that the basics can help with your decision.
Whatever you may hear in the news, the Indiana housing market is very good. 2008 will be a great year to buy that new home. For folks that enjoy (or have just purchased) it may be the right time to re-finance (I have redone mortgages that … (8 comments)

indiana mortgage: What If You Get a Email From Me - 02/07/08 04:28 PM
 
I guess I would call this an open letter to fellow profesionals on AR. I really need your opinon on this one.
I have spent a lifetime (28+ years) helping folks find the right financing for high ticket items (like a mortgage). I can count the number of companies I have worked for a a single hand and I feel that I am qualified to solicit business.
Now the relationship between real estate agents/brokers and mortgage loan officers tends to be very good or very bad. My style is to make everyone happy and never forget who the customer is. While helping the client get a … (20 comments)

indiana mortgage: Mortgage Basics - What Do You Mean DTI Is Not For My New TV? - 02/07/08 11:12 AM

STATED OR NOT STATED, that is the question... Remember back in ancient times (2007) when a client did not qualify for a loan due to income it was not a problem. Most investors promoted stated income mortgages. What did that mean? Now I am not making this up. This is how the programs worked and were pushed by Account Executives all over the country. The norm for qualifying ratios is 31/43 (I will get back to this later). Stated loans allowed the client to put down an income without documentation. What this meant is that seniors, on a fixed income like … (0 comments)

 
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Tony Grego, 317-553-4173 #1 Trade Association for Alternative Inv

Indianapolis, IN

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