Then best way to get 100% financing today is through a Fannie Mae-insured loan. This is still readily available even today.The loan limit is $417,000 and you simply have to prove the income necessary to qualify. The credit standards are not very high and you need minimal reserves in many cases.
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08/23/2007
One of my agent clients, Al, called me two months ago to pre-qualify one of his buyer's, Tom. Tom needed 100% financing.Tom never called me back though I left him numerous messages. "Aaron, he isn't ready to speak with a lender yet. He wants to wait," Al said.I told Al that was fine but that
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08/22/2007
This weekend my daughter celebrated her 15th birthday. She requested, as she has the past two years, that we go on a "Vegas Vacation," and stay at Mandalay Bay to celebrate.One of the greatest things about living in our amazing city is that you can spend a weekend 20 minutes from home and feel
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08/21/2007
Please excuse me while I rant. I just got done reading the comments on Nima Rezvan's post Countrywide Home Loans: The Real Story (Informative Blog). I have had enough!!Unfortunately, we live in a world where people "enjoy" it when the "kings" are challenged or befallen. We love reading about
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08/18/2007
I have never been a subscriber to the belief that "those who can, do....while those who can't, teach." In college, I had a business school professor, Mr. Everett, who had made millions in the "real" world. He retired early and then decided he was passionate about teaching young minds. I was fortu
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08/18/2007
I just got off the phone with a very good real estate agent client of mine. He is refinancing one of his investment properties. I told him the appraisal came back higher than he expected, which is great news, but also it shows that the home was just taken off the market two weeks ago after not
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08/17/2007
A few of my clients this morning are telling me about customers crashing the Countrywide Bank and demanding their money in fear that Countrywide is going under and their money will be lost. They said they saw it on TV.Kind of like the scene in "It's a Wonderful Life" where James Stewart tries
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08/17/2007
About once a month I get a call from a credit clean-up "expert" who wants me to refer business to him. We invested in credit clean-up software, that works amazingly well, so I never entertain these sales pitches.This latest "expert," William, came at me from a different angle. "Aaron, we do cre
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08/16/2007
Countrywide announced today that they had to borrow $11.5 billion from a group of 40 banks to fund loans.This clearly shows us just how deep the lending crisis has become and shows you clearly why the smaller companies are closing. They don't have access to this kind of capital.But what does thi
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08/16/2007
I saw it coming 30 days ago.About three months ago, I got a call from a self-employed electrician, John, who want to buy a $400,000 home for him and his wife, Claudia, who is a commissioned retail sales person. John and Claudia are in their mid-60's and have rented for over 20 years. John sai
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08/15/2007
