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Mortgage & Real Estate News You Can Use: Week of February 12, 2014

By
Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI

 

 
Here's this week's info, articles, & video I thought you'd find interesting and of benefit within your life and business ...
 
Homebuyers Get Break as Loan Rates Defy Fed Tapering:
Mortgages ...
 
Ashley Underwood is taking advantage of the unexpected drop in mortgage rates by rushing to buy her first home before they go up again. “I’m ready to cancel plans at a moment’s notice to go look at a house,” said Underwood, 27, who lives in Indianapolis, Indiana. “I didn’t expect to see rates falling again, and I want to lock in something before I lose out.”
 
The drop in the last month proved forecasters wrong, said Douglas Duncan, chief economist of Fannie Mae in Washington. After the Federal Reserve announced in December that it would begin tapering purchases of mortgage-backed securities, all the major housing forecasters said rates would jump this quarter. Economists didn’t foresee that investors would react to the Fed’s retreat by moving money from emerging markets into U.S. Treasuries, driving down home-loan rates.  (MORE ...)
 
Credit Card Security Breaches:   How to Find if YOU Have Been Effected.  How to Protect Yourself Moving Forward ...
 
The recent breach in security at multiple well-known retail stores has Credit Card holders more than a little nervous and concerned.  Rightly so ...
 
These breaches have led to a number of my clients (those currently in the Mortgage Process and past clients as well) to inquire:
 
  • "How do I check to see if I'm a victim of these security breaches?"   
  • "What should I be doing about my account?" 
(MORE ...)
 
 
DIY Tips:  5 Things You Can Fix with Everyday Stuff ...
 
From Mr. HandyMan.com
Click on Infographic to View in Larger Format ...
 
 
 
 
 
How to Refinance - "on the dips" ...
 
The concept of "buying on the dips," which refers to purchasing stocks when prices drop, can be applied to refinancing, says Keith Gumbinger, vice president of HSH.com in Riverdale, N.J.
 
"Basically, refinancing on the dips just refers to homeowners using an opportunistic approach to realize savings when mortgage rates drop," Gumbinger says. "If you were thinking about refinancing last year and missed your opportunity because rates climbed in the fall and then you got distracted by the holidays, there's still an opportunity now to refinance." 
 
As always, shout out with any questions you (or your clients) may have regarding Mortgages, Credit, or Pre-Qualifying for a loan.  I'll be happy to hear from you and assist you with your needs.
 

 

 
Gene Mundt
Regional Manager - Mortgage Lender - NMLS 216987

 

American Portfolio Mortgage

 

Direct:  815.524.2280
Cell or Text:  708.921.6331
eFax:  815.524.2281
 
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Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656

 

Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 

 

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Comments (3)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Gene I have not tried to incorporate an Infographic into a blog yet, was it difficult to do?

Feb 12, 2014 08:41 AM
Yolanda Cordova-Gilbert
Richmond, TX

Gene,

 Great advice people just do not realize what it all takes to get a mortgage I get calls all the time and I tell them I am not a mortgage expert and they get upset I tell them to start with their banker! These rules change all the time and I am not the expert!

Feb 12, 2014 08:41 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

No, George ... I just had my wife do it.  But seriously, Marilyn said she saved the image and then just linked to the pic, as you would with any other.  Good luck!

Yolanda:  You're right.  Rules, documentation, and Interest Rates change quickly sometimes.  Best to start with the Lender and get your "ducks in a row" ...

Gene

Feb 12, 2014 11:39 PM