Mortgage Pro Week in Review -- 09/13/10 through 09/19/10 -- Good Mortgage info is important
A friend of mine (who is an FHA expert in his own right) wrote a wonderful blog on the top 10 reasons to buy a home today!
The MORTGAGE PRO Week in Review is back. This weekly review has been away the last 18 months due to the lack of volunteers, in helping to get mortgage related information out to the public and to help keep realtors up to date on the ever changing topics of mortgages. This review will appear every Sunday eevning, once a week. There will be a post in a few days about this group and how you can volunteer.
Onto Mortgages and Real Estate. Below is some very good mortgage posts that tell you what you need to apply for a mortgage, specific programs, and what you need to know about mortgages in general. Please take the time to read these posts, it could be worth your wild and could save you thousands of dollars as a borrower.
10 Reasons to Buy a Home TODAY, NOT NEXT MONTH, NOT NEXT YEAR BUT RIGHT NOW! by : Tom Burris
In my opinion, this post is not a scare tactic, just the basic facts to as why buying now could very well be better than buying later. Let's not forget, that is if you are in the position to buy now.
Houshold Budgets For Home Buyers #1 by : Paul Silver
Before you buy a home, you should have some sort of budget. Realtor, Paul Silver, writes a very good 3 part series on this.
Be Prepared for Mortgage Application .. Start Gathering These Documents NOW by : Gene Mundt
This shouldn't be a hard topic to figure out. Just be like the Boy Scouts, "Be Prepared". It never hurts to be prepared with all of your mortgage documents before speaking to a loan officer. Gene does a good job of breaking it down for you.
Save Big by Choosing the Best Rate Lock by : RJ Baxter
R.J. brings up a good point that many loan officers don't talk about, especially when the consumer is shopping around. Loan officers fail to talk about how to lock in your rate or what the differences are in the lock periods, yet they offer these so-called great interest rates. Just very simple information to understand.
The 4 Things you Need to Get Approved for a Mortgage!!!! by : Larry Bettag
What a better follow up to Gene's post, is Larry explaining on what 4 items gets your loan approved from a lenders perspective.
The Truth about Loan Modifications - Are you sure you want to look behind the curtain? by : Drew Sygit
This is an excellent post that goes into details that many didn't know about. I personally know that Drew did some research on this, bringing you the real facts and not what is perceived out there.
Fannie Mae Home Path Financing by : John Neil
This is a good program for some. John explains what you get with this type of program. The biggest selling point is that you don't have monthly mortgage insurance. This program is used for those properties owned by Fannie Mae. But please read below what Gary Miljour has to share, comparing this program with FHA loans. You do need to understand your options carefully and not just because this loan has no mortgage insurance. And showing these 2 was not a knock on either John or Gary. Each borrower and each loan program is different.
FHA vs. Fannie Mae Home Path Revisted by : Gary Miljour
Gary gives you a quick simple breakdown between FHA loans and the Fannie Mae Home Path loan. In his opinion, FHA loans are still the clear winner.
FHA Loans with a simplified explanation of FHA credit standards by : Jeff Belonger
FHA has some new changes pertaining to credit scores and down payment. And did you know that FHA is changing the monthly mortgage insurance that goes into effect on October 4th, 2010? Changes in FHA mortgages for the monthly mortgage insurance & UFMIP
Sir, I think your calculator is broken! by Nevin Williams
A very simple and easy to understand post. Just be careful when using online mortgage calculators. There are a few factors that you as a consumer aren't aware of.
203K: Why is it so difficult to find a contractor to do this 203k? Answers within... by : Brent Kludge
You first learn what a 203-k loan is and there is a group below that has some posts about this loan program. Brent goes into more specifics about the 203-k contractor, what to do and not to do.
Dressing Up Your Blog.... Nirvana Recipe by : John Zolsky
My bonus post - Non mortgage related, but realtor John Zolsky shares some very interesting tips about how to write within your blog posts, such things as fonts and colors.
The next 3 members for the Mortgage Pro Week in Review :
1. Larry Bettag 09/20/2010 through 09/26/2010
2. Gene Mundt 09/27/2010 through 10/03/2010
3. Gerry Suarez 10/04/2010 through 10/10/2010
If you are writing mortgage posts or mortgage related posts, you should try placing them in the groups below. Not only is this good for the consumer or Realtor, but it helps those that are searching for top mortgage posts for the weekly review.
All About Mortgages/Mortgage Networking Here is a group that many loan officers post their mortgage related blogs in. A good place to learn more about the type of programs, new industry news, and sometimes some inside tips. Don't hesitate to join.
The FHA Mortgage Group - Here is a group that specifically talks about FHA, FHA updates, and what FHA can do for your buyers and sellers.
Mortgages - Another group with anything and everything about mortgages. A diversified group.
FHA 203-k and 203-k streamline group - Special type of mortgage that allows you to roll in the costs of repairing you home, new or old.
USDA Rural Development Loan Group - All mortgage information pertaining to USDA loans, Rural Development Loans.
VA Loan Group - All mortgage information pertaining to VA loans.
Realtors Needing the services of the Lending Powers- A place where realtors can updates on mortgages in general.
Realtors® -For Real Estate Professionals to discuss marketing strategies, overcoming obstacles, successful sales techniques. And a place to add mortgage related topics helping the consumer and realtor.
We really could use some new volunteers for the Mortgage Pro Week in Review. Even if you are a realtor, a title person, or someone else that is related to the mortgage/real estate industry..... please read below.
MORTGAGE PRO Week in Review A repository for the Mortgage Week in Review. Please don't hesitate in joining this group. And any volunteers for the mortgage week in review, please e-mail Jeff Belonger at jbelonger@ihmci.com
There will be no recreations of any type regarding the titles or content of this group or Review without the permission and expressed written consent of the Group's founder.
Mortgage Pro Week In Review - Copyright 2010©
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For more information on FHA loans, please go to this link. The FHA Expert
For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!
For information about FHA myths & FHA rumors, please read : FHA Myths & Rumors
Copyright © 2010 by Jeff Belonger of Infinity Home Mortgage Company, Inc
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