Dan Magstadt's Mortgage Blog

Mortgage and Lending - Paramount Residential Mortgage Group, Inc - NMLS# 262906
Mortgage blog written by Dan Magstadt to help give some insight into the mortgage market as well as let everyone know what's going on at CrossCountry Mortgage & my personal life!
The rush is on.  The deadline for purchasing a home using the $8000 tax credit is November 30, 2009.   You might be surprised to find out how quickly the remaining days left to take advantage of the "free" money from the government will click away. Let's take a look at how you might use up your t...
Below are May's Florida home sales numbers. You can see that sales are up pretty significantly over 2008's numbers. This is due to the large number of bank owned & foreclosure/pre-foreclosure properties out there - Investors & homebuyers looking for a good deal are snatching the properties up. I'...
  Ask yourself if you would have continued fighting if faced by the following set of circumstances. For someone to meet such obstacles & continue on is amazing:   ·     1832 Failed in business- Bankruptcy ·     1832 Defeated for Legislature ·     1834 Failed in business- Bankruptcy ·     1834 De...
Everyone be sure to come down to beautiful Lake DeSoto for the July Fourth celebration in Lake City, FL on Saturday. The night is going to kick off at 6 PM with live music, great food, and lots of friends & family! Bring your lawn chairs or blankets and gather around the lake's edge for this magn...
This is extremely important & something every members in the real estate community needs to participate in (including consumers!).  HVCC is ultimately hurting the consumer & is not solving any of today's real estate or appraisal issues. Take a few minutes of your time and let the politicians know...
This is pretty much spot on: Last week I purchased a burger and fries at McDonalds for $3.58. The counter girl took my $4.00 and I pulled 8 cents from my pocket and gave it to her. She stood there, holding the nickel and 3 pennies. While looking at the screen on her register, I sensed her discomf...
The Attorney General of New York (Andrew Cuomo) started quite an uproar with an investigation into the appraisal process and the mortgage industry. Fannie Mae & Freddie Mac quickly moved to appease him & subsequently agreed to huge changes to the way appraisals are handled.     The resulting sett...
Are you sitting down?? The government has actually gotten something right for once!! For any veteran that is in the market to purchase a home know this - A government backed VA loan is superior to any loan product available today. VA loans are the absolute best way to go in today's mortgage envir...
February's home sales were up 20% statewide which is great news!! At the same time there was a 29% decline in prices. You can see the regional breakdown from the chart below. Once again, you can see a pattern of the areas with the greatest price reductions saw the highest growth in sales...Obviou...
I just got Florida's January home sales numbers & the statistics are very good: January, 2009 had 8,450 closed transactions across Florida vs. 6,810 in January 2008 - This is a 24% increase in home sales over last year's numbers. The downside is that the median sales price was down to $139,500 fr...


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Mortgage blog written by Dan Magstadt to help give some insight into the mortgage market as well as let everyone know what's going on at Meridian Financial & my personal life!