Eddy's Blog

I recommend this loan program only if there is benefit. THis is a great program for investors or for those deals that have a low LTV. In my opinion this is loan is to be sold if your really understand it and make sure your customer understands it, in the end this is a ADJUSTBALE RATE MORTGAGE no ...

Mr.Jim Lee borught a point on his response to my 07/27/2006 blog he stated that the media misleads clients with bogus info all the time. Why? To get them to buy their magazines,newspapers and watch their tv shows. I get a kick watching those late night / weekend  infomercials that all of these "d...

Setting Your List Price Setting the list price for your home involves evaluating various market conditions and financial factors. Pricing your home is both an art and a science. Achieving the optimal price is the result of both objective research into comparable properties, a gut feeling about yo...

FBR: Housing Prices to Rise at Slowing Rates  Housing prices generally will rise in each of the next four quarters, but by progressively slower rates on a year-over-year basis, and they will fall in progressively larger numbers of metropolitan statistical areas, according to Friedman, Billings, R...

MERRILL DECLARES "BEAR" MARKET IN HOUSING In a new report, Merrill Lynch declares that housing is in a bear market and that a "buyer's market" for homes should last for "years." Merrill notes that the unsold inventories of homes continue to pile up, and that resale prices are flattening in the si...

NEW HOME SALES DECLINE New home sales fell 3% in June as a long-expected slowdown finally began taking hold despite the incentives and discounts that builders are offering homebuyers. The U.S. Census Bureau reported that new single-family home sales dropped from a seasonally adjusted annual rate ...

RATES DECLINEThe average 30-year fixed mortgage rate fell from 6.80% to 6.72% over the seven-day period ended July 27, according to Freddie Mac's Primary Mortgage Market Survey. Freddie Mac Primary Mortgage Market Survey(Seven Days Ending July 27, 2006) Avg 30-Yr FRM Rate Avg 15-Yr FRM Rate Avg 5...

Mortgage rates return to 4-year highFreddie Mac reports 30-year rebounds to 6.80 percent, its highest level since May 2002. NEW YORK (CNNMoney.com) -- Mortgage rates rebounded this week, returning to their highest level in more than four years, Freddie Mac reported Thursday.The average rate on 30...

An account exec from another came in and mentioned that her compay is lauching a SUBPRIME  PAY OPTION ARM , she said it would be out in 3 weeks or so. Does anybody know about this? what would it be tied to the cosi/cofi or mta? Please provide your thoughts on this. Can she just be blowing smoke? ...

It is sad to see bilingual clients and how they are taken advantage of during their refinance transaction. I just funded a spanish speaking client in Alabama. She only owed 30k on her home which was appraised for 220k. She wanted to pay 20k in debt and wanted 25k in cash out max cltv would be aro...