Albert Einstein was a smart cookie who was ahead of his time. In popular culture the name "Einstein" has become synonymous with genius. Mortgages aren't physics, but it can certainly seem like it if you don't have a loan officer that is not only good at explaining things to you, but one who is knowledgeable and can show you the many differences in loan programs.
As stated, mortgages can be confusing at times. It doesn't help when some loan officers don't take the time to walk you through the process. One piece of advice, no matter if you are purchasing or refinancing, if it takes more than a full day to get a Good Faith Estimate from a lender, this is usually a red flag. Unless they tell you that they are just busy. And by sharing some of these well written blogs, it might give you some good insight to as what to look for when shopping for a mortgage.
If you are shopping for a mortgage, what do you look for online? If you come across an article or a blog on a certain topic, do you read the whole thing? After half way down, do you go to something else, not knowing that you might have missed some good information? Do you know the difference between a conventional, FHA, VA, or a subprime loan?
Mortgage Knowledge at its Best shared by Jeff Belonger. I just wanted to share with you some great mortgage related blogs that I have found in the last month as I have searched the internet. Some of these might be very beneficial for you, depending on where you are in your home buying process or if you are just refinancing. Letting you know if you are getting good advice. Well, let me help you with some other mortgage professionals who know their stuff.
- I Received an Inheritance (or Net Proceeds) Should I pay Down My Mortgage? by : Kurt Jackson Old school always said to pay down your mortgage as soon as possible. Giving you financial freedom. This is not always the case and Kurt does a great job of explaining some of your options.
- What The Heck Is A Reverse Mortgage? - Part 1 of Reverse Mortgages by : Tony Gallegos Do you know what a reverse mortgage is and how it can help you? Here is a very good defined post for those over 62 years of age.
- Best way to sell house in buyer's market by : Jack Guttentag who writes for Inman News. Jack is also known as the Mortgage Professor. Yes, we are in a buyers market. But sellers can take advantage of this but helping those buyers with seller assistance, instead of lowering their price on the home. Read more to find out why.
- Mortgage Rates -- Locking or Floating -- Part 2 of 2 by : Jeff Belonger When you first talk to a loan officer and ask for a good faith estimate, if they don't go over your options on how to obtain that rate, this is a big Red Flag.
- New VA Jumbo Loan Program by : Michael Mapes September 1, 2007 VA loans in excess of the conforming loan limits of 417,000.00 will be allowed. This could be huge for those stationed in Hawaii and other high cost areas.
- Here It Is... The New FHA Loan Program - FHASecure - Mortgage Lates and 100%+ CLTV Allowed by : Aaron Gordon This new program announced by President Bush could open up the flood gates in helping 1,000's of homeowners in keeping their homes and to lower their current mortgage payments.
- Buying a Short Sale by : Mike Mueller With today's market being a buyers' market and some sellers in trouble, this could be a great opportunity to get a good steal. But you have to be patient, this doesn't happen over night.
- To Pay Points Or Not To Pay Points - That Is The Question! by : Gareth Bourriague This article talks about being aware of those that say that they have no cost loans. Be careful, there is a great point here. Nothing is ever free.
- Sell While You Can, Bank Your Equity. Ride Out the Storm as a RENTER by : Janet Guilbault Here Janet gives some good insight on how to possibly take a small risk to actually come out ahead in a few years. This definitely sounds like good advice for those stuck in a declining California market.
- Good Faith Estimate -- What to look for when shopping...... by : Jeff Belonger A break down of what to look for when comparing good faith estimates. Advice, always go back to the loan officer that you most felt comfortable with and share this information with them.
- Mortgages and Public Restrooms by : Kim Murphy This is an excellent analogy comparing mortgage shopping with using public restrooms. The message here is if you feel extremely comfortable with your loan officer, after shopping around, go back to them last and share what you have gathered. You might get an education that would be well worth it.
- Florida Commercial Mortgage | An Anthology of Posts... by : David Podgursky Here is a collection of commercial blogs for those that want to invest in commercial properties.
- Down Payment Assistance Programs Part 2 of 3 by : Gary Miljour In this post, Gary gives you a breakdown of the types of down payment assistance programs and who can use them. Here is part 1 : Down Payment Assistance Programs Part 1 of 3
- Confused by credit come-ons? Help protect your clients privacy. by : Joe Bartolotta Consumers who are shopping or who applied, this is a must read. Ask your loan officer on how to Opt out. Here is another on credit by Michael Byrne : Credit Tips Prior To Purchasing A Home
- Loss Mitigation Resources - Help Your Clients Save their Home by : Kate Bourland Some great information for those that might be losing their home.
- First Time Home Buyers by : Joe Adams Joe lists a few key points prior to purchasing a new home. A must read especially for those that rent now.
- Property Flippers – Time to REFINANCE and think Buy & Hold by : Ken Stampe For those of you who are real estate investors that flipped homes in the past, because of stricter lending guidelines, you might need to rethink your plan of attack.
- Mortgage Application Monday ~ Close Friday by : Kim Murphy Don't wait till the last minute to apply for your mortgage. It could cost you in the long run. Kim explains what goes into a mortgage and that it doesn't always happen overnight.
- Sub-Prime Vs. Hard Equity (private Money) by : Matthew Blum So many consumers and even loan officers don't truly know the difference between subprime loans and hard money loans. Same concept, but different rates and fees. Matt explains the differences.
- Boost Credit Scores by : Jay Oku Giving you some insight on how to improve your credit scores before buying or refinancing. This could save your $100's of dollars.
Bonus : Why Economic Principles (Common Sense) Always Prevail (Eventually) by : Tony Gallegos Ever heard of the Stockdale Paradox? Here is a good post giving you insight of the different types of loan officers that you might come across. This post is for all, even the consumer. Here is more on the The Stockdale Paradox by : Mike Mueller.
FHA/HUD educational summary to help purchasing or refinancing...... by : Jeff Belonger A great collection of FHA blogs educating the consumer on different FHA topics.
The panic of 1907 and 2007....amazing similarities by : Karl Christen Theories on why some people are panicing now and comparing it to the year of 1907.
Some of these individuals above can be my competition. But I believe in educating the consumer and I would rather have the help of some true professionals in this business helping me. I will be publishing 15-20 mortgage articles twice a month. If you think you have one that might fit, please e-mail it to jbelonger@ihmci.com Or if you ever think you need some help with your mortgage or have questions, please don't hesitate to e-mail me.
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For more information on FHA loans, please go to this link. The FHA Expert You can also go to this group : The FHA Mortgage Group
For more information on how you can obtain your dream home, please click here : Mortgage Financing Options
Copyright © 2007 by Jeff Belonger
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