mortgage: Three Real Estate Minutes Or Less # 7 Homesteading - 03/22/09 01:42 PM
Today's subject: Homesteading 3 Minutes 1 Seconds
Home Steading today is not staking out a patch of government land and building a home.
Home Steading today is a legal deceleration that protects your home from financial attack.
Home Steading today is the cheapest lest expensive insurance policy you'll ever find.
The … (2 comments)
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mortgage: Three Real Estate Minutes Or Less # 6 - 03/17/09 06:46 PM
Today's subject: Upside Down 3 Minutes 5 Seconds
There is nothing here except the video!
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects.
You are invited to get involved! … (2 comments)
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mortgage: Three Real Estate Minutes Or Less # 5 - 03/13/09 06:07 PM
Today's subject: Appreciation 2 Minutes 26 Seconds
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects. Much of it may be simple vocabulary lessons, words as they are properly related … (4 comments)
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mortgage: Three Real Estate Minutes Or Less # 4 - 03/12/09 10:47 AM
Today's subject: Alligators 2 Minutes 14 Seconds
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects. Much of it may be simple vocabulary lessons, words as they are properly … (4 comments)
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mortgage: Three Real Estate Minutes Or Less # 3 - 03/11/09 02:16 PM
Today's subject: APR, Annual Percentage Rate Oops 3 minutes 3 seconds
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects. Much of it may be simple vocabulary lessons, words as … (4 comments)
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mortgage: Three Real Estate Minutes Or Less # 2 - 03/10/09 02:20 PM
Today's subject: Act 1 minute 38 seconds
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects. Much of it may be simple vocabulary lessons, words as they are properly related … (3 comments)
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mortgage: Three Real Estate Minutes Or Less # 1 - 03/09/09 09:35 PM
Today's subject:Amortization 2 minutes 7 seconds
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects. Much of it may be simple vocabulary lessons, words as they are properly related to … (4 comments)
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mortgage: Are You A Victim Of Low Cost Mortgages? - 02/11/09 04:28 PM
There is no such thing as a mortgage being to low if you're paying it. If you're buying and some one else is paying the discount points! Low cost mortgages stimulate home purchasers and mortgage refinancing.
So how can any one be a victim of a low cost mortgage? Because of … (11 comments)
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mortgage: Misidentification / Have Nots / Undeserving - 08/02/08 02:41 PM
Our on going national disgrace, disgraces (?) Disgraci, what ever, has us turning on each other. After nearly thirty years of hate mongering by politicians perhaps it's to be excepted that we can no longer identify with our fellow man. What bothers me is that other wise good people, good real … (24 comments)
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mortgage: Where Have All The People Gone? - 07/24/08 03:42 PM
Where have all the home owners gone?
Long time passing.
Where have all the people gone?
Long time passing.
Defaulted and disappeared every one.
When will they ever learn?
When will they ever learn?
Where have all the home owners gone?
Where have all the people gone?
Where? Where? Where? Where?
… (8 comments)
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mortgage: Platitudes - 07/16/08 03:15 PM
"I Know What You Think You Heard, But That's Not What I said"
"People remember what they heard last"
"Never answer an objection until the buyer has repeated it three times."
"People remember best what they hear the most"
"Ask a leading question then SHUT-UP! ... The person that speaks next … (17 comments)
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mortgage: Passing the Buck / It's the LO's Fault / A Convenient Misunderstanding - 07/14/08 10:32 AM
So many people want to pass the buck,to blame anyone but themself for the mortgage crisis. The most maligned being the individual Loan Originator, LO. The LO's are an easy target because some of them are guilty with regard to their clients, but the same can be said about any and … (16 comments)
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mortgage: Qualifying / Back To The Not So Basic - 06/04/08 10:55 AM
After so many years of qualifying mortgage clients by the same rules our fathers, or Grandfathers played horseshoes, many loan originators have never had to actually meet strict numbers!
Well times have changed, close no longer works! You've got to throw ringers or lose. Those pesky Debt to Income and Housing … (1 comments)
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mortgage: 5, 10, 15, 20, 25, 30, 35, 40, 45, 50, Three Score And Seven - 02/22/08 11:32 AM
How long? How long should you finance your home for?Should you worry about amortizing (systemically paying off the principal) your mortgage?
A few days ago my friend Rich Kruse commenting onHow Much Should I Put Down / Equity Is No Protection / Liquidly Is Wrote: "I'd like to hear a post about … (4 comments)
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mortgage: How Much Can I Afford / A Stupid Question - 02/16/08 10:33 AM
You've reached that point in your life, somewhere between 18 and death, that you want a home of your own. You locate a REALTOR® or better yet a Loan Originator and make your first mistake. You ask "how much can I afford?"
This is possibly the second most asked question in real … (38 comments)
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mortgage: A Simple Idea - 01/24/08 09:47 PM
I have an idea to help upside down/negative equity home owners.
Congress could have Fannie Mea, Freddie Mac, and Genie Mae to refinance existing loans to 80% of the current value, while subordinating the remaining balance to second position, and recasting it over the remaining term. This could also be extended to … (20 comments)
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mortgage: The Big Stick / Forgotten Wisdom - 06/30/07 02:59 PM
This is the first in what I hope to be a series on "Forgotten Wisdom,"
The Great Roosevelt once said "Walk softly and carry a big stick!" The other Roosevelt taught a dependance on big government. Today, with a perceived problem with sub-prime lending, many are calling for more and bigger government, … (5 comments)
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mortgage: There Out To Get You / Finding Truth In Truth In Lending, Good Faith Estimates Part 6 - 02/19/07 04:38 PM
Let me start by apologizing for the first 5 parts of this series! Unless you're a mortgage originator a line by line understanding of the "Good Faith Estimate" is a waste of time, most are a waste of paper!
My regular readers know that I believe that Regulation Z was a noble … (7 comments)
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mortgage: Good Faith Estimate Part 4 - 02/13/07 12:34 PM
Line 102 and 1203
Rarely used.
Line 1302 * Pest Inspection Fee
This depends upon local need. If required by lender see. Always required on VA loans.
Unnumbered Comparison To Broker (Not Paid Out Of Loan Proceeds)
This is the "Yield Spread Premium" paid by the lender/investor to the mortgage broker, if not for the YSP … (1 comments)
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mortgage: Good Faith Estimate Part 3 - 02/13/07 06:28 AM
Line 803 *Appraisal Fee
The estimate cost of the appraisal. This rarely varies except when additional inspection are required because of unfinished work or required repairs.
Line 804 *Credit Report
The cost of the credit report, this can go up as the actual lender may require additional reports or an electronic report may need … (1 comments)
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