william j archambault jr: 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?
… (7 comments)
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william j archambault jr: 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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william j archambault jr: 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 … (16 comments)
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william j archambault jr: To Blog or not to blog? Two Years Later - 07/13/08 02:43 PM
(This is an edited version of my article from 10-2006)
To Blog or not to blog?
To respond to blogs or not respond?
That is the question.
Whether it is better to suffer the slings and arrows of outrageous... Exposure (?)
Over the last two years I have become an … (10 comments)
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william j archambault jr: Creditably / Vulgarity / Facttoids / Exaggerations / Hate - 07/12/08 04:44 PM
Creditably, Vulgarity, Facttoids, Exaggerations, and Hate are incomparable! At a time when hate has replaced common sense, so many respond in kind, with vulgar, made-up lies, exaggerations, and pure unadulterate hate. We except this from many, but we must refrain from answering in kind!
Even when addressing a receptive audience you … (9 comments)
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william j archambault jr: IndyMac / Money Merge / Broke Fools - 07/12/08 12:34 AM
IndyMac was taken over by the FDIC! Accounts frozen, advances stopped(?), HELOCs frozen?
It's happened before, but not on such a scale. Just how are the gullible schemers and dreamers going to feel about their "money merge" accounts, now?
If ever there was proof that "figures don't lie, but liars figurer" … (25 comments)
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william j archambault jr: REALTORS Excoriated In Atlanta - 07/10/08 07:28 PM
Ignoring property rights.
Ignoring property owners.
Ignoring contract law.
Ignoring REALTORS Civil rights.
Ignoring common sense.
"City inspectors have begun ticketing Atlanta real estate agents, holding them liable for code violations on run-down, often foreclosed properties..." says the Atlanta Journal-Constitution!
What next? Are REALTORS to be held libel for … (16 comments)
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william j archambault jr: Carrion Investing - 07/07/08 12:20 PM
I haven't seen the traditional TV Real Estate Gurus on the air, lately. I haven't had my mail box flooded with their offers to make me rich in the next 30 days. These carrion Vultures and their minions of Crows all hoping for a free meal are undoubtably afraid of changing … (6 comments)
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william j archambault jr: Political Eloquence - 07/02/08 08:29 AM
At a time when hate has usurped logic. When collected 30 second sound bytes have replaced speeches. At a time when leaders and would be leaders speak in incomplete sentences, so that no matter what you though you heard they didn't say it. At a time when "Honor" is a demand … (11 comments)
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william j archambault jr: Cocky Arrogant Salespeople Ranting - 06/30/08 12:30 PM
A very respected acquaintance recently posted a ranting/raving blog that I disagreed with. The subject is irrelevant, a matter of social intercourse with no absolute right or wrong. My opinion, the right one, the minority opinion was opposed by the majority opinion, the not really wrong one, by 593 to 1. … (26 comments)
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william j archambault jr: Marriage, Real Estate, Money - 06/26/08 12:25 PM
This is not about "Gay Marriage" trigger by it, but about Marriage, Real Estate, and Money. Regardless of how we feel about marriage, in any marriage there are some simple credit and real estate matters that everyone considering marriage should think about.
1. Credit! In community property states your spouse, regardless … (8 comments)
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william j archambault jr: There Is always More Than One Way / LeMay Coal and Feed Delivery Service - 06/25/08 04:14 PM
There is always more than one way!
Thursdays June 26, 2008 marks the sixth anniversary of the start of: The LeMay Coal and Feed Delivery Service, The Candy Bomber Brigade! A/K/A The Berlin Airlift started 60 years ago Thursday.
The Soviets had closed off West Berlin!
They couldn't be … (8 comments)
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william j archambault jr: Dad My Dad On This His Sixty th Farther's Day - 06/14/08 11:58 PM
Three score and a few weeks ago a young man home from war in the South Pacific was presented by his high school sweetheart and wife of two years with me. Father's day was simple, change the diapers, heat the bottles, feed the kid, change the diapers, heat the bottles, feed … (6 comments)
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william j archambault jr: 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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william j archambault jr: Meme Again / Jeff Belonger Tagged Me - 06/01/08 05:48 PM
Jeff I'll Get You Back, Jason Sardi added to the challenge, so here is my meme. At least this time Jeff ask specific, but strange questions. To start at the beginning, the very beginning see: Memed, Me Memed / For The Masochistic Reader
"1. Who is your favorite musical artist?"
… (10 comments)
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william j archambault jr: Hypothecation / Basic Money 301 - 05/27/08 06:49 PM
Over and over again the TV commercials ask: "Do you have a structured settlement? Do you have a an annuity? Do you have a land contract? Do you have a contract for deed? Do you have an incoming private note?" We'll give you the cash you need!
Ya, right! No one … (8 comments)
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william j archambault jr: Memorial Day Again - 05/26/08 10:57 AM
It is said that there is no greater love than the love of those that would give their life for another. There is no one who wants to die young and violently, yet our country has never lacked for volunteers to risk their lives to protect ours.
Despite all the … (5 comments)
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william j archambault jr: Creating Equity From Nothing / Revisited - 05/21/08 11:32 PM
Short sales, so many agents have discovered short sales, as if they were just invented. Many others are reluctant to get involved. More still assume they are some sort of entitlement, a right.
They're wrong! Short Sales are a tool, an old Tool! Only the name is new to ease the … (2 comments)
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william j archambault jr: A Serious Question - 05/16/08 11:09 PM
A new friend writes: "How many people walked away from the homes in which they only had $500, $2,500, or $5,000 as down payment? But that's all they lost. And how many people lost their $40K, $60K and $100K?"
My reply deserves it's own post.
It's not the amount of … (10 comments)
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william j archambault jr: Deliberate Deception By Government Fiat / What They Don't Tell You - 05/16/08 07:18 PM
I read a recent well intentioned blog advising that you should not select a lender or loan based on the rate! That's great advice! Rate in itself is only one side of a coin! The other side of the coin is cost! Origination and discount cost!
Loan costs come in two … (7 comments)
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william j archambault jr: Comedy / Tragedy It's Not Just Classic Theater - 05/14/08 01:27 PM
It is said that life imitates art and that art imitates life.
It is certainly true in our current real estate crisis.
We are experiencing real tragedy, ironic tragedy,
being upside down on a mortgage, the loss of value in some homes.
We have comedy, in the form of … (10 comments)
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william j archambault jr: Unintended Consequences / Why Are The Idiots In Charge? - 05/12/08 11:09 PM
The sun is just rising when the little old octogenarian lady climbs the ladder to the huge John Deer parked in her shed! Balanced precariously, she hooks her right arm in the grip and scowls wickedly as she fishes in her pocket for keys to the cab.
Keys she mumbles. Keys … (16 comments)
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william j archambault jr: Mother / My Mother / Mature Mothers - 05/10/08 04:44 PM
Today we all remember those hart warming things from our youth, those thoughts and memoirs we share with the first woman in our lives. Everyone has them, even Joan Crawford's kids, I sure.
Many novels have been written trying to explain our Mothers! You're going to read a lot of loving … (4 comments)
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william j archambault jr: Are You Knocked-up, Yet? - 05/07/08 05:44 PM
Strange question, in this foram. Isn't it? But, that's what happens when you don't know what you're doing and promiscuously fool around anyway!
"Don't lecture us! It's our right! We're entitle It's our right! We're entitled! We're entitled! We're entitled! It's our right!"
You're right! It's your right!
Don't … (9 comments)
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william j archambault jr: The Tragedy Of Connotation / My Queer Friends - 05/05/08 04:56 PM
"Connotation... an idea or feeling invoked by a word in addition to its primary or literal meaning."* "Queer >adjective... strange; odd"*
*According to my Correl Word Perfect 12 dictionary.
There are those that say our language is evolving. I say our language is devolving! Our once proud language has languished into a … (13 comments)
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william j archambault jr: The Mortgage Consumer Protection Act / My Solution - 04/15/08 01:37 PM
In order to protect the consumer in mortgage origination the following changes shall be made:
1. The states shall licence all mortgage brokers and their agents. Standards shall be set by the individual states, but records shall be maintained so that the public may be made aware of individual complaints. Agents fired … (11 comments)
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william j archambault jr: You Want To Buy A Bargain / Talking To A REALTOR® - 04/12/08 03:39 PM
You want to buy a bargain! You know all about the real estate crises, you watch the TV news.
Maybe you even took a ride on the "Foreclosure Express" bus where the REALTOR® on the loud speaker pointed out a nice looking house with brown grass, and told you, "it sold … (10 comments)
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william j archambault jr: A Requiem For Logic / If So Many Repeat It It Must Be True - 04/11/08 07:42 PM
A highly respected friend writes: "I'll grant you that prepayment penalties aren't the cause of the foreclosure "problem" but they indicate where the problem may lie: Bad lending practices."
I just wrote about prepayment penalties, The Evil Of Ignorance / Is The Pre-payment Penalty Evil?
My concern is at the origination level … (6 comments)
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william j archambault jr: The Evil Of Ignorance / Is The Pre-payment Penalty Evil? - 04/02/08 08:44 PM
This was written for my Pod-cast at The Real Estate Sage the individual link is http://realestatesage.info/2008/04/02/httpwwwgetthemoneyus.aspx
The Evil Of Ignorance / Is The Pre-payment Penalty Evil?
During the current mortgage crisis every news pundent, every former home owner, every politico, every fool with little or no lending or banking knowledge has pontificated an opinion … (13 comments)
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william j archambault jr: Real Estate Markets Retail and Wholesale Or Yesterday Today and Tomorrow - 03/30/08 02:49 AM
Bryan Tutus writes about Trying to sell retail listings in a wholesale market!!! About home owners competing with REO's, real estate owned by banks. My question is are there really two markets?
When lower price listings are marketed to the public, are they not truly being retailed? If they were offered to … (10 comments)
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william j archambault jr: Who's Side Is The Fed On? - 03/19/08 04:20 PM
1% off the discount in the last week sounds great! But, does it offset the extortion of the equity of the stock holders of Bear Stearns? Not long ago Bear Stearns stock was selling over $100.00 two years ago over $170.00 so how does it drop to $2.00 overnight?
Most people would … (10 comments)
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william j archambault jr: Savings Money / Free Money / Peace of Mind - 03/10/08 02:21 PM
Back in September 2006 I wrote Wake Up And Smell The Smoke About over sleeping, a cat, Brenda, lunch, McDonald's, a siren, a fire truck, several yard sales, smoke, a friend, a student's investment houses, a fire, and under-insurance. Today things have changed, a lot!
Today you're a lot more likely … (4 comments)
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william j archambault jr: Beat The Sharks / Pod-Cast - 03/08/08 04:05 PM
A friend came across a title of mine that should have lead to an earlier attempt at pod-casting,it didn't. So he ask about it. It's considerably more important today than it was when I wrote it in 2006.
Here is the link: http://realestatesage.info/2008/03/08/httpwwwflippingforfunandprofitinfo.aspx
"Beat The Sharks" is simply the most unique opportunity … (2 comments)
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william j archambault jr: My Experiment In Pod-Casting. - 03/06/08 05:57 PM
My experiment in Pod-casting. I've been playing with Pod-casting for several months now and I think I've got it working. I've been recording and editing with a share ware program called "Aduacity" and publishing to my "Go-Daddy" "blogcast" account http://www.realestatesage.info I'd like feed back on how it comes across
Here is the link: … (50 comments)
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william j archambault jr: Inspired Brilliance - 03/04/08 01:02 PM
Almost all of us know or know of someone who's made a million dollars in real estate. In quieter contemplative moments we all look for their inspired brilliance, so necessary for doing well in today's depressed real estate market.
Many perhaps most think it can't be done today. Convinced that like the … (7 comments)
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william j archambault jr: 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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william j archambault jr: But I Don't Have A Down Payment - 02/20/08 06:22 PM
If you were sitting across from me and said "I don't have a down payment," I'd have flippantly said "So What! What kind of a house do you need?" Thanks to the TV Real Estate Gurus, we all know everyone can buy with "no down payment!"
What those TV pitchmen say is … (16 comments)
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william j archambault jr: How Much Should I Put Down / Equity Is No Protection / Liquidly Is - 02/17/08 11:39 PM
I recently tried to displace the myth that real estate and mortgage professionals could determine what you can afford. See: How Much Can I Afford / A Stupid Question, for most of you what you can afford is going to be less, sometimes considerably less than you can qualify for.
Now that … (18 comments)
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william j archambault jr: 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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william j archambault jr: How Much Can You Save / A Short Sale Primer - 02/09/08 04:48 PM
I just read Lenn Hardly's blog: WHAT ARE THE BUZZ WORDS? TRANSPARENCY? CONSUMER'S RIGHT TO KNOW? NONSENSE!
People have a major misunderstanding of what they can except purchasing a short sale. Just what sort of discount will a bank to accept?
If you're hoping for a number, you can stop reading. If you … (8 comments)
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william j archambault jr: Explaining Pre-Paid Interest - 01/30/08 09:38 PM
I read the musings of a brilliant, but young mortgage man that was having trouble explaining pre-paid interest, which is line 901 on the Good Faith Estimate and HUD-1, closing statement. I discuss this in my book "Get The Money / A Consumers Guide To A Successful Mortgage Application" but let … (2 comments)
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william j archambault jr: False Security / False Hope - 01/30/08 11:47 AM
I've written about the danger of depending upon Home Equity Lines Of Credit, HELOC's, before. I was concerned about depending upon your HELOC for access to cash when making an offer, I'd suggested that even though you have the HELOC available you always make your offers contingent upon the loan, to … (9 comments)
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william j archambault jr: Shut- Up And Start Making Money / Every One Is A Salesman - 01/30/08 01:13 AM
Everyone is a salesman, some are just better than others. I write about real estate investment, but salesmanship is a lesson in life! The only reason most people make, for not investing in real estate, is they don't think they can make the sales necessary to buy and then sell an … (6 comments)
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william j archambault jr: A Consumers Guide To Mortgage Brokers And The Evil Yield Spread Premium - 01/30/08 01:00 AM
Kick backs, hidden cost, back points, HUD (Housing and Urban Development) calls it "Yield Spread Premium" (YSP), money paid by the a lender to mortgage brokers outside of closing. Money paid by the lender to the broker because you got a higher mortgage interest rate. Mortgage brokers are suppose to show … (3 comments)
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william j archambault jr: Standing Before The Bar / Why I Hate Applying For A Loan / Nothing Has Changed - 01/30/08 12:46 AM
I was 21 and out of the Marines just ten days when I went to work for a small loan company, a week later I was making loan decisions affecting peoples lives. Just two weeks more and I was in the field making collection decisions that could literally destroy peoples lives. … (7 comments)
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william j archambault jr: Do Favorite Words Influence Your Life - 01/25/08 12:14 PM
Do you have a favorite word? Do favorite words influence your life or does your life influence your favorite words?
A favorite word, color, flower, song it all sounds sort of juvenile if not down right childish! Doesn't it?
Have you ever considered why kids have these favorites? I've concluded that child and … (16 comments)
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william j archambault jr: 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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william j archambault jr: Do I Open Your E-mails? - 01/23/08 04:22 PM
Do you use e-mail?
Do your e-mails get opened?
Do your readers take you seriously?
Do you want to be though of as a professional?
Do you look bad even before your mail is opened?
Do you want to be taken seriously?
Do you do business using a free mail service?
Do you have an investable … (2 comments)
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william j archambault jr: I Too Have A Dream - 01/21/08 03:42 PM
Today as we pause in the middle of political debauchery to honor the memory of Martin Luther King, I too dream of equal opportunity, equal housing opportunity! Equal access to security through real estate ownership!
Dr. King talked of people being "stripped of their selfhood and robbed of their dignity by … (4 comments)
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william j archambault jr: Books I've Read, Reread, and Read Again - 01/10/08 05:59 PM
I was "meme" Bill Roberts got me. Bill Nazur got him. They wanted to know what I read. This is a big step ahead the last time I was "memeed "Memed, Me Memed / For The Masochistic Reader I started with Geneses and ended with my birth, a long time ago. … (8 comments)
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william j archambault jr: My Second Annual Blog Index 2007 - 12/31/07 02:23 PM
I've posted 95 blogs here on Active Raine in 2007, most of them on Professionalism, many on the mortgage Crisis, much on pure Real Estate concepts, some Frivolous, and a few very Personal.
Today's message is a simple one:
Happy New Year! May personal and professional success fill your new year.
All my … (4 comments)
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william j archambault jr: Twas The Night Before Christmas, Revisited - 12/23/07 03:44 PM
Twas the night before Christmas, when all across the web,
Not a blogger was blogging, not even young Sardi:
The postings were posted on the Rain with care,
In hope that they soon would be featured there;
The readers were off line all snug in their beds,
With visions of bonus points dancing in their heads;
Brenda … (6 comments)
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william j archambault jr: I'd Like To Address High Schools Seniors / The American Dream - 11/30/07 08:59 AM
Part II
In Part I, we talked about "The American Dream" which was shared not only by Americans, but people from all over the world. From the time Columbus's voyage became known the "Dream" has grown and mutated the Spanish, French, and English Monarchs sought to expand their empires and exploit the … (0 comments)
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william j archambault jr: I'd Like To Address High Schools Seniors / The American Dream - 11/26/07 11:06 PM
I am an American!Not a schizophrenic hyphenated dysfunctional, ethnic freak. I am a Euro-centrist, there is no other logical explanation for the American miracle! My Great, Great, Great Grandfather Jacques emigrated here from France in 1608, for freedom to practice his religion. Jacques's son Anton was the father of my Great … (3 comments)
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william j archambault jr: Feeding Frenzy! Bottom Feeding Sharks Masticating On The Gullible - 11/12/07 06:28 PM
Our local television and radio are loaded with commercials for Bankruptcy Attorneys, Not-for-profit Councilors, and Real Estate Sharks seeking to fleece and destroy Gullible Home owners! Using "shock and aw" miliary type tactics to harvest equities and shear the sheep! Incompetent and evil real estate "ho's," with out the knowledge and/or … (2 comments)
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william j archambault jr: "Cura Te Ipsum," Ancient Wisdom / Sarcasm, and Stupidly! - 11/05/07 03:47 PM
My friend, Brian Brady, recently imparted some great ancient wisdom, mixed well with sarcasm punctuated by the apathy and stupidly of the masses! See: The REALTOR's Argument For Loan Originator Licensing- Cura Te Ipsum
My purpose today is not to add to the licensing debate, I don't debate people I don't … (4 comments)
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william j archambault jr: Good Faith Estimate Revisited - 10/25/07 01:59 PM
The Good Faith Estimate is an "ESTIMATE" of the cost of the loan you've applied for.
All lenders are required to provided you with it and its' companion the "Truth in Lending" form within three days of your application.
We're going to go through it line by line, but the individual … (7 comments)
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william j archambault jr: A Call I Wish I Hadn't Made - 10/23/07 04:35 PM
I got a letter though AR. A listing agent wanted an investor, was I or any of my people interested in this listing? A single family house in a distance state, appraised at $785,000.00, listed at $725,000.00, but only for home buyers, investors could buy it for $660,000.00! (I should have … (9 comments)
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william j archambault jr: Dad's Shop - 10/22/07 02:49 PM
I was born in Central Michigan. Son and Grandson of men that fixed it themselves. I don't remember a time when if something need fixed or built Dad didn't do it himself. I remember when I was very young pestering Dad as he worked on a car in the drive way.
… (7 comments)
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william j archambault jr: Why Real Estate - 10/18/07 09:40 PM
Have you ever considered what tenants miss?
Have you ever considered how important a home of your own is?
I'm talking about a home like an old fashion marriage, not serial monogamy as practice by so many. A home like Mom, not Dad's third wife. A home like our Grandparents kept or maybe … (0 comments)
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william j archambault jr: You Too Should Remember Jack - 10/16/07 08:15 PM
I'm the oldest of five. Born in 1948, two years after my parents were wed, I've always been proud to be William Junior. I didn't surprise anyone, not like my brother "Ops" born just ten months later, Mom called him Jack after her Father and Brother. (Thank God they didn't let … (3 comments)
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william j archambault jr: Least we forget, possession is a negotiable item! - 10/15/07 02:43 PM
When I came west from Michigan twenty three years ago, I was shocked to learn that possession in Nevada and perhaps most of the West is excepted to pass on the day of closing. In my experience I knew closings get held up and sometimes blow-up! I found the idea both … (0 comments)
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william j archambault jr: Bunk, BUnk, BUNk, BUNK - 10/10/07 11:16 PM
Bunk, BUnk, BUNk, BUNK
A comment on Where' the Bottom of the Burbank Real Estate Market ?
I don't believe you can apply the principles of technical analysis to home purchases! Nor do I believe you can apply them to small (1 to 4 unit) investment properties in a tough market.
No one likes … (5 comments)
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william j archambault jr: Viva La Difference / Unjustified Assumptions - 10/02/07 10:10 PM
I wrote a blog about illegals and loan fraud and got a comment from a well intentioned writer that I just can't forget. I don't think the writer did anything but express the frustration we all feel, when we group people by heredity instead of their personal choices.
The comment: "It is amazing … (18 comments)
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william j archambault jr: Lost Souls / Souls On Trial - 09/11/07 01:38 AM
Remember Bunker Hill.
Remember the Alamo.
Remember the Main.
Remember 12-07-1941
Remember 9-11-2001.
Remember the Victims.
Remember the Heroes,
That tried to save them.
Remember the servicemen,
Taking the war to the emery.
Remember the traders,
in the House, the Senate, and the Media.
For surely these are the times to try our souls.
Bill
William J Archambault Jr
American by Birth
Enthusiastic Patriot by Choice
Blessed to … (3 comments)
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william j archambault jr: Risking Everything / Sharing The Risk - 09/05/07 05:08 PM
Great sound bytes offer bad advice! "Put at least 20% down" the advice was promoted to protect the real estate investor and home buyers from the risk of declining home values. Well if you believe them you probably also believe the "non-profit" equals charity and that their staffs are philanthropic … (6 comments)
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william j archambault jr: Selling and Buying In A Down Market - 08/26/07 04:51 PM
The market is down! No question about it! Right? Well maybe. In many if not most neighborhoods prices are not what they were two years ago, but that doesn't necessarily mean people are losing money. It's likely most homes are worth more if not considerably more that what the owners paid … (5 comments)
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william j archambault jr: Be Careful When Speaking Lender - 08/25/07 04:54 PM
I just left one of my long winded comments on Brian Brady's blog Speak English or Go Home! You should read that about the English only question. I wanted to add a short story about one of my non-English speaking clients.
I had done almost two dozen loans for a family who's … (5 comments)
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william j archambault jr: Give Them Something To Think About / Cut and Paste - 08/21/07 11:21 PM
"If you're going to cut and paste, give them something to think about" -- William J Archambault Jr
"You are not here merely to make a living. You are here inorder to enable the world to live more amply, with greatervision, with a finer spirit of hope and achievement. You arehere to … (10 comments)
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william j archambault jr: Gorilla Purchasing / There Is Always More Than One Way - 08/17/07 04:14 AM
Survival of the fittest.
You've spent the last 15 years of your life learning and perfecting your real estate knowledge only to have your world come crashing down around you.
More than three score of mortgage lenders closed their doors.
Your local MLS has a nine month supply of listing.
No thinking buyer will pay … (5 comments)
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william j archambault jr: Memed, Me Memed / For The Masochistic Reader - 08/16/07 06:13 PM
I've been memed! My friend Rich Kruse did it this morning. I though he knew better, after all I'm known for being brief and Active Rain only has so much band with.
O'well. I do list myself as the greatest living expert on the opinions of William J Archambault Jr, so … (4 comments)
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william j archambault jr: I Dit It, I Did It! / Thanks Nathan Hartman - 08/15/07 02:40 PM
I was very empresses with Bryan Brady's pod casting Profitable Podcasting: My Equipment, but I didn't want to do phone interviews. I wanted to record some of my articles simply as an alternative presentation.
I simply wanted to be able to record and upload from my desk top or lap top computer. … (1 comments)
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william j archambault jr: I Got Rained On Today - 08/14/07 12:17 AM
Yes I got rained on today not once but three times and it feels good!
The simplest to explain was a letter from a fellow rainer who I'd lost track of, I responded and he did too. Three simple and short letters, but two of us feeling better, a good start … (2 comments)
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william j archambault jr: Clouding The Issues - 08/12/07 02:58 PM
This started out to be a comment on another blog. I don't know the blogger, a Realtor® of unknown experience, reading his home page didn't help. The subject, mortgage brokers as investment advisors, is worthy of further discussion.
I'm not advocating mortgage brokers as investment advisors, but I believe educating the client … (12 comments)
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william j archambault jr: Simple Wisdom - 08/12/07 11:50 AM
"Two roads diverged in a yellow wood... Two roads diverged in a wood, and I- I took the one less traveled by, and that made all the difference." (Robert Frost)
It's Sunday morning and as we start the day I often turn on the radio for background noise. Sundays I listen Glen … (6 comments)
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william j archambault jr: Leave it to Mother / Central Michigan - 07/30/07 07:41 AM
Leave it to my Mother to come up with innovative solutions. My parents spend their summers in Central Michigan, not far from where they grew up, or for that matter not far from where I went to grade school. North of Rosebush, and South of Clare on Stevenson Lake. They spend … (10 comments)
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william j archambault jr: Humble Patriotism - 07/28/07 04:50 PM
On my way to breakfast Friday (7-27-07) I was asked by a mutual friend of ours how I felt about the concert Brenda and I attended Thursday night. My answered confused him. I responded humbled!
Well I've had nearly 30 hours to think about it and I still feel the same … (1 comments)
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william j archambault jr: A New Voice / A New Source - 07/03/07 11:37 PM
Six weeks ago fellow Active Rainer and friend Jeff Belonger bloged: AOL Real Estate -- I have been interviewed, thanks to Active Rain..... About being interviewed thanks to his writing as seen on AR. Like everyone else I was thrilled for Jeff, even though they didn't get it quit right it's … (0 comments)
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william j archambault jr: Memorial Day - 05/27/07 07:23 PM
"I pledge allegiance to the Flag of the United States of America, and to the Republic for which it stands: one Nation under God, indivisible, With Liberty and Justice for all."
This is a day of remembrance, of all those who gave so much, to give us all we have. Those of us … (18 comments)
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william j archambault jr: Stone Tablets / Bill's Rules For Loan Rep's - 05/24/07 05:55 PM
Have you ever wondered why we teach Religion to our very young?
I don't remember when I started Sunday School, it had to be sometime before four. Among all those wonderful stories there was always a Moral. Then came Mosses and the Ten Commandments. The only thing I could relate to was … (7 comments)
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william j archambault jr: Arrogant Bigots - 05/16/07 06:53 PM
I started to answer a comment on one of my bloggs, and as so often happens when I'm commenting I got a little carried away. I posted the comment, but the more I looked at it the more I wanted everyone to see it, so after a short edit here it … (40 comments)
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william j archambault jr: Real Estate Volume CDLVIII, Chapter 1372a: House 12 - 05/14/07 01:52 PM
My son, Eric has been telling me he's going to write down and number my stories for over twenty years. What I'm sharing here is from the 448th volume "A Decade In West Texas/One Eighteen Months" This is not Eric's version but rather from the 1100 volumes I wrote to provide … (6 comments)
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william j archambault jr: Tribute To A Lady / Decision Making - 04/24/07 05:00 PM
I I teach investment real estate, among other real estate and mortgage subjects. A lot of what I'm into is what I like to call "opportunity investments" most would say "distressed properties" but this is a misnomer since even the most dilapidated property doesn't know it's distressed. Properties aren't distressed, people … (9 comments)
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william j archambault jr: Deal Killers - 04/22/07 06:14 PM
What a narrow minded title!
I just read a blog with the terrible title of: The "Dealer Killer" Debate Continues it's basiclly an ad for a home inspector John McKenna and I proud to call your attention to it, because it also led me to a great blog of his:Deal Killer … (8 comments)
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william j archambault jr: My Ambiguous Blogs - 04/13/07 02:09 AM
Back in mid 2005 I wrote an article called "A Consumers Guide To Mortgage Brokers and The Evil Yield Spread Premium" I syndicated it to promote my books and it was posted, reposed and printed around the world in at least 7 countries on 3 continents in English, French, and German … (2 comments)
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william j archambault jr: Legal Business From Active Rain - 04/12/07 01:53 AM
I didn't know what to make of it when our daughter, Amy called Monday evening. "Dad I got a client today" she excitedly exclaimed! Now a new client is nothing to get excited about and I said so. Amy said "you don't understand!" Now she's been telling me that since she … (5 comments)
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william j archambault jr: Wearing Two Hats, Guaranteed Incompetence Or The Only Way To Insure Competency? - 03/31/07 03:38 PM
My AR friend Ron Withers commenting on my blog: Fiduciary, Responsibility, Mortgage Brokers, and Evil wrights:
"Bill,
As I have stated previously, I do value your opinions and knowledge, among other things. Today, I was reviewing some book marked posts/links that dealt with fiduciary responsibility and also re-acquainted myself with the definition.
As … (22 comments)
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william j archambault jr: Fiduciary, Responsibility, Mortgage Brokers, and Evil - 03/19/07 07:50 AM
Judge a man not by single words they expound, but rather by the character they demonstrate!
Fiduciary is possibly the most misunderstood word in real estate and lending. Brian and I disagree on the application but treat our clients similarly. Our differences over fiduciary may come from our diversity, Brian is also … (38 comments)
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william j archambault jr: Feel Good Blogs Are Good For Your Soul - 03/06/07 05:46 AM
I'm on Active Rain, and others for the exchange of ideas on real estate! It also helps to promote my books, CDs and services, I preach real estate and mortgages. I claim mine is a kinder gentler approach to opportunity real estate investment and mortgage lending. I'd like to think that … (24 comments)
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william j archambault jr: Good Faith Estimate Part 5 - 02/14/07 03:42 PM
Line 902 *Mortgage Insurance Premium
This is the PMI or MI paid in advance.
Line 903 Hazard Insurance Premium
This is the first year's cost of your home owners policy. This fee will be what it will be, it's better if this estimate is high.
Line 905 *VA Funding Fee
Fee charged by the VA.
All lines … (4 comments)
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william j archambault jr: 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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william j archambault jr: 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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william j archambault jr: Good Faith Estimate Part 2 - 02/12/07 12:24 PM
The Good Faith Estimate is an "ESTIMATE" of the cost of the loan you've applied for.
The lender is required to provided you with it and its' companion the "Truth in Lending" form within three days of your application.
We're going to go through it line by line, but the individual … (2 comments)
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william j archambault jr: It's the last day of the year 2006 - 12/31/06 06:19 PM
Listed below is?
A. The posted wit and wisdom of William J Archambault Jr.
B. Bill's folly.
C. All of the above.
D. None of the above.
Your final answer is:
A. B. C. D.
I've posted 53 blogs since joining August 9, 2006, I hope some have been relevant and helpful. I've commented on 418 blogs … (5 comments)
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william j archambault jr: Explaining Pre-Paid Interest - 11/21/06 01:34 PM
I read the musings of a brilliant but young mortgage man that he was having trouble explaining pre-paid interest, which is line 901 on the Good Faith Estimate form. I discuss this in my book "Get The Money / A Consumers Guide To A Successful Mortgage Application" but let me try … (12 comments)
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william j archambault jr: A Consumers Guide To Mortgage Brokers And The Evil Yield Spread Premium - 10/30/06 09:03 PM
This is possibly the most republished syndicated real estate article of 2005. I knew it was republished and bloged in five countries on 3 continents but recently I found out it had been translated into French and German and published in those countries too. Why anyone outside the USA would be … (13 comments)
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william j archambault jr: A Little Sales Blog - 10/25/06 09:12 PM
I replied to David Spencer’s "Motivation blog and got to thinking about my first real estate broker. That got me thinking about all those sales classes. I’ve bloged about at least one before in an article called "Shut-up and Start Selling,"
I don’t want to get that detailed, but I remember … (4 comments)
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william j archambault jr: 15 seconds to better your day - 10/25/06 12:22 AM
"Success consists of going from failure to failure without loss of enthusiasm." --Winston Churchill
That ‘s not a bad blog. But, those of you who’ve read my stuff know I’m a man of a few to many words. This is not about success or failure or even my fascination with quotes … (0 comments)
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william j archambault jr: To Blog or not to blog? - 10/12/06 02:26 PM
To Blog or not to blog?
To respond to blogs or not respond?
That is the question.
Wether it is better to suffer the slings and arrows of outrageous...
Exposer (?)
Over the last few months I have become an active participant it this site and to a much lesser extent a competing site, Wanta … (3 comments)
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william j archambault jr: I’ve Got A Problem... - 09/12/06 04:42 PM
If a friend or acquaintance said to you "I’ve got a problem" you almost smile before catching yourself, and carefully expressing concern. Admit it we all have problems, most of us don’t talk about it, so when someone admits a problem we’re a little pleased that their problems are worse than … (4 comments)
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