New London Phil's Blog

Mortgage and Lending - MCCUE MORTGAGE COMPANY
Mortgage information and lots of other thoughts from a long time SE Connecticut home financing professional.



I enjoyed meeting two newly minted Realtors today.  They are joining an experienced Realtor in the area to set up a team.  The experienced Realtor set up appointments for them to join him in visiting lenders that he does business with.  My responsibility was to speak to them about the approach th...
The following was part of a Holiday luncheon that we had at Mccue Mortgage Company on Friday.  I am not sure if someone within our firm put this together or if they found this on the internet. I had not seen it before.Have some fun with it.So you think you know a lot of Christmas songs?  How many...
At a meeting that I attended yesterday, a speaker pointed out that approximately 95% of the clients that we help with sub-prime loans, thinking that after a couple of years that they will be able to refinance to market rates, end up refinancing to another sub-prime loan.   This was an eye-opener ...
Have you looked at the VA option lately?  There are lots of veterans in the USA and most of them can take advantage of the Veterans Administration housing benefits.   Here in Connecticut, home of Subase New London and the US Coast Guard Academy along with numerous smaller military installations, ...
A common comment expressed about December is that everyone stops working and just goes to holiday parties and no one buys a house around the holiday.Please keep this a secret but December is usually one of my better months of the year in the mortgage business.  Even in what is supposed to be a qu...
There are lots of condominium mortgage programs that ask for questionnaires to be completed, phases to be completed, certain percentages of the units to be owner-occupied, etc., etc., etc.None of the above requirements come into play with THE CONDO SOLUTION.100% financing is available with no PMI...
Lots of people that I speak to assume that CHFA(Connecticut Housing Finance Authority ( is strictly for people that have not owned a home in the last 3 years.  If a client is interested in buying a home in a CHFA designated Target Area they can be a previous or even present homeowner...
It has come to my attention that both houses of Congress have passed a bill that will allow the deductibility of MI.  The bill still needs the signature of President Bush.It applies to new originations for 2007 and will need to be extended for 2008 and beyond.Only taxpayers earning under $110,000...
During the next month or so, check out downtown New London after dark.  The City Center District in cooperation with the New London Main Street program has been installing lights along the top of many buildings in the downtown business district.  They are all white lights so as you come into the ...
Prospective homebuyers have lots of options available to them in the mortgage markets, even when they don't have lots of money.  Consider the following:VA - 100 % financing and the seller can pay the closing costs and prepaid items for the buyer.CHFA-FHA-DAP - this combination of 3 government pro...

Philip Turner

Mortgage Banker Since 1980
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