mortgage: The Mortgage Mistake Nearly Half of Lapeer MI Borrowers Make - 02/20/15 10:02 AM
This story from Catey Hill, The $25,000 Mortgage Mistake Nearly Half of Borrowers Make, talks about how many people pay to much for their mortgage ...
Did you pay too much for your mortgage? If you’re like millions of Americans, the answer is probably yes — and that means you may be throwing tens of thousands of dollars of your hard-earned money at the bank, when you might not need to.
A report released Tuesday by the Consumer Financial Protection Bureau finds that almost half (47%) of Americans don’t shop around for a mortgage when they purchase a home. “Consumers put great thought … (0 comments)

mortgage: Can Your Social Media Presence Affect Your Loan Approval? - 01/31/15 03:38 AM
Can your social media presence affect your loan approval ... This story from Angela Colley in the current issue of Housing Trends eNewsletter, talks about how lenders maybe combing through your social media accounts in the future ...
Lenders learn a lot about you before they approve your loan—they examine credit histories, pay stubs, bank statements—but that might not be all they look at in the future.
According to The Wall Street Journal, some lenders, mostly dealing in small-business loans, are combing through applicants’ social media accounts and status updates, tweets, and posted résumés.
It might not be a simple fad. The Journal reports that FICO is looking into the … (0 comments)

mortgage: Questions to Ask Your Lake Orion Mortgage Lender - 01/30/15 05:22 AM
Article from Craig Donofrio, 10 Questions To Ask Your Mortgage Lender, discusses questions you should be asking to ensure you're clear on your options when buying a home ...
1. What mortgage types do you offer? Different mortgage lenders offer different types of mortgages. These can loans differ in the amount offered, interest rates, length and payment type. Common mortgage types include the following:
Federal Housing Authority (FHA) mortgages Veterans Affairs (VA) mortgages Fixed-Rate Mortgages (FRMs) Adjustable-Rate Mortgages (ARMs) Interest-only mortgages Reverse mortgages Jumbo Loans 2. What mortgage is the best fit for me? Your mortgage lender should be able to answer this question once you’ve completed an … (1 comments)

mortgage: Mortgage Rates in Lapeer Michigan Still Near Yearly Lows - 11/16/14 04:28 AM
This article in the RealtorMag dated 11/14/2014, Mortgage Rates Still Near Yearly Lows, quotes Freddie Mac on last weeks mortgage rates ...
The 30-year fixed-rate mortgage is hovering around 4 percent. This has been keeping borrowing costs low for refinancers and home buyers for the last few weeks, Freddie Mac reports in its weekly mortgage market survey.
Freddie Mac reported the following national averages for mortgage rates for the week ending Nov. 13:
30-year fixed-rate mortgages averaged 4.01 percent, with an average 0.5 point, dropping from last week’s 4.02 percent. A year ago, 30-year rates averaged 4.35 percent. 15-year fixed-rate mortgages averaged 3.2 percent, with … (0 comments)

mortgage: 8 Mortgage Mistakes You Can't Afford to Make - 11/15/14 09:47 AM
To avoid some of the biggest missteps, you should first know what they are ... The 8 Mortgage Mistakes You Can't Afford to Make by Craig Donofrio in this months article from Housing Trends eNewsletter ...
Picking out the perfect home can be a challenging task. But that’s only the first step.
You still need to be an attractive loan candidate, navigate the mortgage process and plan well for the future.
Since all that can get a little tricky, many home buyers made mortgage mistakes that cost them dearly.
In order to avoid some of the biggest missteps, you should first know what they are.
1. Picking Any … (1 comments)

mortgage: Dramatic Easing of Mortgage Standards in Lake Orion - 10/23/14 12:55 AM
Plans to expand buyers access to mortgages by loosening standards, announced 10/21/2014 here in RealtorMag, FHFA's Dramatic Easing of Mortgage Standards ...
Federal Housing Finance Agency Director Mel Watt on Monday announced plans to expand home buyers' access to mortgages by loosening up lending standards.
FHFA's Latest Efforts
FHFA Unveils New Plans to Make Mortgages Easier to Obtain
HARP Is 'Not a Scam,' FHFA Director Says
FHFA Seeks Comments on G-Fee Hikes
During the Mortgage Bankers Association's annual conference, Watt said FHFA will release guidelines "in the coming weeks" to allow increased lending to borrowers with down payments as low as 3 percent. FHFA, which regulates … (0 comments)

mortgage: What Is? A Series of Questions From Clients on Real Estate And Mortgages - 09/06/14 11:36 PM
What is? A series of questions from clients on real estate, mortgages and inspections. After awhile our clients questions were pretty much the same, so we thought we would answer the popular questions in video form for everyone. Below are the last 3 video answers to the questions most asked of us lately, what is...
1. What is a repair escrow?
2. This question was all about staging the home before photos.
Professional Photography for Real Estate - video
3. What is a earnest money deposit?
Hopefully these videos helped you with your questions on the same subjects, if you … (0 comments)

mortgage: Mortgage Rates Sink to New Low in Metamora MI For 2014 - 08/24/14 09:49 AM
New mortgage article in RealtorMag dated 08/22/2014, talks about fixed rate mortgages continue to tumble. Mortgage Rates Sink to New Low for 2014 is worth reading...
Despite predictions that mortgage rates were to inch up in the second half of this year, fixed-rate mortgages continue to tumble.
Borrowing costs moved lower this week, as the 30-year fixed-rate mortgage dipped to a 4.10 percent average, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgages previous low average for the year was 4.12 percent.
Forecasts: Right or Wrong?
It's 2014 -- Why Aren't Mortgage Rates Higher? 2014 Expected to Have Strong … (0 comments)

mortgage: Boomerang Buyers Get Second Chance, Metamora MI. - 06/16/14 11:23 AM
Boomerang Buyers Get Second Chance, this article from RealtorMag talks about former homeowners that are credit ready to step back into home ownership...
About 7.2 million homes have been lost to foreclosure or short sale since the housing crash began, according to housing data from Black Knight Financial Services. That has forced millions of former home owners into renting, as they work to rebuild their credit.
But a government program launched last summer by the Federal Housing Administration is helping these former home owners step back into home ownership in as little as a year after a foreclosure or short sale. … (1 comments)

mortgage: e-Mortgages Will Speed Closings and Cut Costs - 06/04/14 10:42 AM
e-Mortgages Will Speed Closings and Cut Costs according to Fannie Mae. This weeks mortgage article from RealtorMag talks about electronic mortgage processing...
An electronic mortgage process could cut 30 days off the average 52 days it takes to close a loan, according to a team developed by Fannie Mae to study e-mortgages. What’s more, going paperless could save the mortgage industry an average of about $1,100 per mortgage—or about $1 billion a year.
Still, the industry has been slow to adopt electronic mortgage processes, facing several hurdles in transitioning to an all-electronic system. However, the process is expected to get a boost … (0 comments)

mortgage: New Plans to Make Mortgages Easier to Obtain - 05/21/14 02:13 AM
FHFA unveils new plans to make mortgages easier to obtain...that's the headline from RealtorMag dated 05/14/2014 announcing a series of easing loan limits...
Tight lending conditions have been blamed for hindering the housing recovery, but a series of announcements by the Federal Housing Finance Agency on Tuesday could be the long-awaited easing that many sidelined borrowers had been hoping for.
The FHFA’s new director, Mel Watt, made several announcements Tuesday that departed from his predecessors and aim to maintain Fannie Mae and Freddie Mac’s role in the housing market as well as broaden home lending by the mortgage giants.
In one … (0 comments)

mortgage: Lenders: Don't Shrug Off Borrowers With Low Credit Scores - 05/19/14 06:43 AM
That was the message from FICO to the mortgage industry in this article from RealtorMag dated 05/13/2014...
Executives at FICO, the creator of a credit score widely used in the mortgage industry, say that the high credit score “cutoffs” that mortgage lenders imposed following the housing crisis are stricter than necessary, and executives urge lenders to consider lowering minimum score requirements.
FICO credit scores that were once acceptable risks in the early 2000s — the 640 to 680 range — for mortgage applicants are rarer these days. In more cases, borrowers with FICO scores of 700 are struggling to get approved. … (0 comments)

mortgage: Mortgage Applications on The Upswing - 04/29/14 12:28 PM
Realtor Magazine reports (04/09/2014) that the current mortgage applications for purchases are on the upswing...
While overall applications for home mortgages continue to fall, applications for home purchases, viewed as a leading gauge of future home sales, are on the rise, the Mortgage Bankers Association reports.
Applications for home purchases rose 2.7 percent for the week ending April 4, the MBA reported Wednesday. On the other hand, a slip in refinancing activity caused the MBA’s overall mortgage application index, which reflects both purchases and refinance applications, to dip 1.6 percent for the week. Refinancing applications tumbled 4.9 percent last week.
Overall application … (1 comments)

mortgage: Existing Home Sales Down but Prices Rise - November 2013 - 11/03/13 03:16 AM
Existing home sales down but prices rise - November 2013. Our current newsletter is out and full of useful information on national and local housing, consumer tips, videos.
Here is a sample of this months consumer tips:
Buy a Home Now or Pay More Later?
How to Choose The Right Neighborhood.
When Should You Put Your Home on The Market?
Six Ways to Slash Moving Costs.
Make The Most of Your Home Inspection.
This video discusses how to help you determine the value of your home and getting an accurate estimate commonly used in the real estate market:

Click here … (0 comments)

mortgage: Housing And Mortgage Trends eNewsletter, August 2013 - 07/31/13 09:51 PM
My monthly newsletter, Housing And Mortgage Trends eNewsletter, is now out with interesting and helpful information along with videos on todays market updates:
Should You Buy a Used Home Instead of a New Home
Tips for Staging Kitchens and Bathrooms When Selling
Moving Day Guide and Checklist

Mortgage Calculator
Donald Horne, Team Success Listing
Associate Broker for Coldwell Banker Shooltz Realty
Read Donald's Blog Here


mortgage: Lapeer MI, Local Real Estate Values, Market Update, July 2013 - 07/13/13 09:27 PM
Lapeer MI, local real estate values, market update, July 2013.
Real estate market data for the Lapeer Mi area, provided by Donald Horne, Associate Broker for Coldwell Banker Shooltz Realty.
1) The median mortgage debt is $132,804
2) Median listing price is $138,160 / down 1% from last month
3) Median days on market: 60 days / up 30%
4) Active listings is at 242 / up 4% from last month
5) 18.6% of total listings are foreclosures and short sales / down 2%
6) The median sale price for homes in 48446 over the last 12 months is $83,000


mortgage: Renters Want to Buy - 04/09/12 10:59 PM
Americans still believe in home ownership, but they're spooked about the mortgage process, a survey finds...Article I found in the March 28th issue of RealtorMag talking about how renters still want to purchase homes in spite of the housing crisis...
Two-thirds of renters -- across educational and demographic levels -- say they want to purchase a home in the future, according to a quarterly national housing survey of 3,000 Americans conducted by Fannie Mae.
"In spite of the impact of the housing crisis on home values and home ownership rates across the country, Americans by and large still hope to become … (2 comments)

mortgage: Short Sales, More Banks View it as a Better Option - 03/16/12 10:10 PM
Short sales rise, more banks view it as a better option ...... This article was in the RealtorMag dated 03/01/2012, talks about banks being more willing to negotiate ......
Banks are more willing to agree to a sale at a lower cost than a home owner’s mortgage balance in order to avoid having the property fall into foreclosure, which can be more costly for a lender.
In the fourth quarter of 2011, there were more than 88,000 short sales, a rise of 15 percent compared to a year prior. In all, short sales made up 10 percent of all home sales … (3 comments)

mortgage: Credit Score Misconceptions - 11/10/11 12:58 AM
If you are trying to raise your credit score to get a good rate for a loan or refinance, you might be surprised by what affects - or doesn't affect - your score.
1. More money improves your credit score = FALSE
2. Ownership of several credit cards can hurt your credit score = MOSTLY FALSE
3. Opening and closing credit lines can hurt your credit score = TRUE
4. Consolidating credit lines will help your credit score = MOSTLY FALSE
5. Changing jobs can hurt your credit score = PARTLY TRUE
6. Co-signing for others can hurt your credit score … (0 comments)

mortgage: Rolling Debt Into Mortgage - 06/07/11 01:14 AM
The idea of rolling credit card debt into your mortgage when you buy a Metamora home.
If your debt is too burdensome to qualify for a home loan, suggesting that the lender pay your debt off and extend you more money just doesn't fly on today's market like it once did. This is largely because most homes bought these days are just barely squeaking by to be appraised as having the same value as the purchase price.
Virtually no lender is willing to extend cash and dump it into paying off your credit cards to be secured only by a home … (0 comments)

Donald Horne, Team Success Listing LLC

Donald Horne

Team Success Listing LLC

Lapeer, MI

More about me…

Address: 661 Rolling Hills Ln. #2, Lapeer, MI, 48446

Office: 810-338-0628

Mobile: 810-338-0628

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