md mortgage mama: What's Your Point?? Nawww ... Not THAT Point!
- 02/22/12 08:06 AM
We have lots of borrower's asking if it makes sense to pay a point (1% of the loan amount) to buy down the interest rate. Gene gives an easy to understand explanation. Speaking with your mortgage professional about YOUR situation is important. Sometimes, instead of paying a point, it makes sense to increase your interest rate which will allow your lender to contribute to your closing costs. This is often a good idea for folks who have minimal savings or just need to decrease their out of pocket costs.
Should I pay points on my Maryland loan? Check out Gene's information … (1 comments)
|
md mortgage mama: 4 Bedroom Colonial in Pikesville, Maryland-Priced RIGHT!
- 12/23/11 02:24 PM
Wow! This is one fabulous property. Can't you just picture you and your family living in this 4 bedroom home that is convenient to 695 and 795, main roads that will take you anywhere you need to be in the Balitmore/Washington Area? Don't pass by this lovely Pikesville, Maryland property without checking it out! The 4 bedroom home with 2 full and 2 half baths is convenient to everything, yet tucked away from the hustle and bustle. You will love all the extra room you won't find in most homes in the area. There's a great first floor room that can … (3 comments)
|
md mortgage mama: Maryland Mortgage Mama Goes CROSSCOUNTRY!
- 12/06/11 03:31 PM
Maryland Mortgage Mama Goes CROSSCOUNTRY!
My last post "Yesterday was a no good, very bad day", was over a month ago. That was the day that my brother and I found out that we were no longer able to do business as Allied Home Mortgage Corp. We didn't have all the details and over the next few days we got more information, and there was some hope that we would be able to get back to business.
In the meantime, we had clients to take care of, we had realtor partners to notify. The first few days were spent scrambling, finding … (3 comments)
|
md mortgage mama: Resources in Baltimore County for Children-Parent, Teacher, Home School, Child Care
- 11/01/11 04:50 AM
Resources in Baltimore County for Children-Parent, Teacher, Home School, Child Care
Last week Sydney's teacher asked me to go to The Southwest Resource Center to laminate some posters that she and the kids had created. I had never heard about this great place. It's just off 695, Wilkens Aavenue exit, near Maiden Choice Lane. I had no idea what a great place I was about to find!
It's a crafter/teacher/parent/homeschool/child care NIRVANA!
According to Christine Peter, the parent services rep at the Maiden Choice location "The Southwest Resource Center for Families and Schools at Maiden Choice School is committed to supporting … (2 comments)
|
md mortgage mama: Beautiful Places to visit in Maryland-CENTENNIAL PARK
- 10/31/11 01:44 AM
Beautiful Places to visit in Maryland-CENTENNIAL PARK
I truly feel that I am blessed to live in Maryland, and specifically in Baltimore. I love that I am close to Washington, DC and Downtown Baltimore. I am within hours from the beach and the mountains. We have all 4 distinct seasons, although the snow we just saw in October may fly in the face of that!
Fall is one of my favorite seasons and we love to explore. Centennial Park is a fabulous place to visit. It is the site of the IRON GIRL Triathlon I competed in this August. Today my family decided to take a … (0 comments)
|
md mortgage mama: Hay Rides, Corn Maze Near Catonsville, Ellicott City, Baltimore, Fort Meade
- 10/26/11 12:47 AM
Corn Maze and Hay Ride Near Catonsville, Ellicott City, Baltimore, Fort Meade
We were looking for a fun, family adventure on Saturday afternoon and happened on Maryland Sunrise Farm located at the intersection of
Rt 175 and Gambrills Road in Gambrills, MD 21054
They have lots of fun things to do including a hay ride, a kid’s cow train, a kids hay maze and a hay jump and more! The hay ride takes you on a tour of the largest family owned certified organic farm in Maryland.
The biggest draw in the Fall for Maryland … (3 comments)
|
md mortgage mama: Do You Want To Retire Early?
- 10/25/11 09:36 AM
Do You Want To Retire Early?
My clients, we’ll call them Bob and Ethel, do and now it is a real possibility for them. Bob and Ethel had their gorgeous Maryland home on the market. They loved their home, but had decided that if the right offer came along, they would happily find a new home with new possibilities. After a few months, they decided they weren’t willing to drop the price any more to try to attract a buyer and they decided that it was in their best interest at this time to stay put.
We discussed their options … (4 comments)
|
md mortgage mama: Valley Mede Broker's Open A Huge Success!
- 10/24/11 06:25 PM
Valley Mede Broker's Open A Huge Success!
Last week I got to attend Ellie McIntire's Broker's Open House of her Valley Mede Home in Ellicott City, MD. The Home is Located at:
3053 Hickorymede Court Ellicott City, MD
This fabulous rancher is so lovely and well-kept, I can't imagine that it will be on the market long! It's in a really nice neighborhood that is convenient to everything. It's near shopping and excellent schools. The Great Room is Realllyyy Great! A cozy fireplace and plenty of light make this huge room perfect for any season. There are large bedrooms and plenty of bathrooms. The kitchen has been updated … (2 comments)
|
md mortgage mama: ActiveRain Connections-Across The Country, Across Oceans, Across A Lifetime!
- 10/18/11 03:52 PM
ActiveRain Connections-Across The Country, Across Oceans, Across A Lifetime!
I have been on ActiveRain a while now and I am so proud of my colleagues here that do so much to help others. The Pay It Forward Group has blog after blog about big and little things our community is doing to make the world a better place. There are many here who run great programs that support our troops, raise money for cures for disease, collect school supplies and feed the hungry, many more who do things quietly on their own, and still others who provide monetary support to many programs.
Margaret Woda is … (22 comments)
|
md mortgage mama: Don't Assume, It makes A You Know What Out of U and Me
- 10/18/11 01:48 AM
Don't Assume, It makes A You Know What Out of U and Me
Do you think that when someone engages you in conversation that they know all of their options and have made up their mind?
My father always said, "Don't assume, it makes an ass out of you and me."
I have found this to be so true in recent conversations with two clients, one a buyer, the other looking to refinance.
THE BUYER
The first was sure that she wanted to buy a home in Prince Georges County, and she wanted to buy it RIGHT NOW!
She was READY, … (0 comments)
|
md mortgage mama: I am ready to buy a house, does recent credit matter? An open letter to credit challenged borrowers.
- 10/13/11 03:06 PM
I am ready to buy a house, does recent credit matter? An open letter to credit challenged borrowers.
When looking at a mortgage applicant, lenders look for two things:
1. The ability to repay
2. The willingness to repay
You have the ability to repay. You have a good income, you have even saved money for the down payment and closing costs. Unfortunately, your recent history is still not showing the willingness to repay. I realize that you have recently paid many of these items in full. Unfortunately, even paid in full collections affect your credit scores.
… (32 comments)
|
md mortgage mama: Things to do near Baltimore- Kayak Annapolis
- 10/11/11 05:34 PM
Things to do near Baltimore- Kayak Annapolis
I love being in, on and around the water. I grew up in Baltimore. Every year we made the trek “Don de Oshun Hon” to spend at least a week in Ocean City, Maryland and often spent time at the military recreation facilities in Solomon’s Island and Lewes, DE. Many of our family vacations are still planned around water. I am a fan of the ocean, the bay, creeks, lakes, rivers, even back yard pools, pretty much any body of water. Heck I even love to take baths! In my late teens and … (3 comments)
|
md mortgage mama: How do I raise a financially responsible child?
- 10/10/11 05:01 PM
How do I raise a financially responsible child?
As a loan officer I talk to people almost every day who have no idea what it means to be financially responsible.
I see credit scores in the low 400's and multiple insufficient funds on bank statements. I get calls from people that don't understand why the fact that they haven't paid their bills on time, ever, means they can't qualify for a loan. I had a woman with 13 credit cards that her husband didn't know about. She didn't understand what the problem was since there was money left over at the end … (8 comments)
|
md mortgage mama: FHA Loans-Maryland First Time Homebuyer Questions
- 09/24/11 02:50 PM
FHA Loans-Maryland First time homebuyer questions
How come I don't have a payment due for a month or more after closing?
You will pay the interest that will accumulate between the day of settlement and the end of that month as part of the costs that are paid at closing. The payment that is due on the 1st of each month pays principal and interest that has accrued from the prior 30 days. So that means if you close on October 10th, you will pay interest from closing through October 31st. Your first payment will be due on December 1st.
If … (1 comments)
|
md mortgage mama: How Much Can The Seller Contribute Toward A Buyer's Closing Cost?
- 09/13/11 01:52 AM
How much can a seller contribute toward a buyer’s closing cost?
You are sitting down with a client who is ready to submit a contract. They want to have as little out of pocket as possible when they purchase a home. They ask you how to do that.
In Maryland the average closing costs and pre-paid items (pre-paid interest, taxes, homeowner’s insurance, escrow set-up) can run between 4%-6% of the purchase price. One way to keep out of pocket costs down for a buyer is to request that the seller contribute toward the buyer's closing costs.
How much they can … (15 comments)
|
md mortgage mama: Day Trips From Baltimore-Hershey, PA is more than HersheyPark! PART 1
- 09/05/11 06:29 AM
Day Trips From Baltimore-Hershey, PA and Harrisburg, PA
Sometimes when your plans change, amazing possibilities arise.
My daughter and I headed out on Sunday afternoon for a day together. We still had Hershey Park tickets we got at a great discount through Families of SMA, so off to Hershey we went. It's only about 90 minutes from our home in Catonsville, MD.
Syd fell asleep in the car on the way there, so when I got to HersheyPark, paid my $12 to park, and drove in. I imagined a very tired child by the time we headed back out of the park, so I … (4 comments)
|
md mortgage mama: FREE SCHOOL SUPPLIES! FREE SCHOOL SUPPLIES! in Catonsville, MD
- 09/04/11 05:08 AM
FREE SCHOOL SUPPLIES! FREE SCHOOL SUPPLIES! in Catonsville, MD
I love facebook. It allows me to find out about the wonderful things that my fellow Woodlawn High School graduates are doing to help our community. I saw a post yesterday from Cheryl Davis-Robinson regarding an event her American Legion is involved in. As an American Legion Auxiliary member, Cheryl has been doing a back-to-school supply event for the last 5 years.
School supplies are expensive, the school supply list can be daunting. One family I spoke to totaled up their supplies and they averaged out to over $70 per child. That didn't even cover clothes, … (0 comments)
|
md mortgage mama: Mortgage Mama Has Another Happy First Time Homebuyer!
- 09/03/11 01:44 PM
Mortgage Mama Has Another Happy First Time Homebuyer!
Sometimes everything in Real Estate works the way it's supposed to and sometimes things are more challenging.
Who would have thought that an earthquake and a hurricane would hit our area in such a short time? Power was knocked out and lots of basements were flooded.
The offices of The Atlantic Title Group, the title company chosen by my first time buyer was among the many thousands of homes and businesses who lost power as a result of Hurricane Irene. They worked remotely and luckily they got power back in enough time to get the loan documents from the … (5 comments)
|
md mortgage mama: Baltimore County School Supply List Bargains
- 08/15/11 04:24 PM
Are you looking for Baltimore County School Supply List Bargains?
The new school year is upon us and the school supply lists can be daunting and expensive. If you are looking for cheap school supplies, you only need to look as far as your weekly store circular. There are bargains that are not just deals, they are STEALS!!
This week there are HUGE savings to be had to help cut the cost of that list..Here are just a few of the deals I found!
Staples (some items require a minimum purchase or easy rebate)
1 subject spiral notebook 1 PENNY
Hammerman 500 … (5 comments)
|
md mortgage mama: Should I Refinance My Mortgage Loan?
- 08/15/11 07:36 AM
I only have 15 years left on my 30 year mortgage loan, with rates so low, should I refinance? I recently refinanced but rates are better now, should I do it again? Should I refinance my mortgage?
I get these questions a lot. The answer is......It depends. Here are a few of the questions I ask my clients/prospects to help them to determine the answer.
What is your current interest rate? How much do you currently owe? Do you still live in the home, or is it being rented? If a rental, different rules apply. Are you comfortable with your payment? … (2 comments)
|
|
|
|
We have lots of borrower's asking if it makes sense to pay a point (1% of the loan amount) to buy down the interest rate. Gene gives an easy to understand explanation. Speaking with your mortgage professional about YOUR situation is important. Sometimes, instead of paying a point, it makes sense to increase your interest rate which will allow your lender to contribute to your closing costs. This is often a good idea for folks who have minimal savings or just need to decrease their out of pocket costs.
;)
;)
;)
