Eleanor's RTP Blog

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Mortgage and Lending - Equity Resources - NMLS 67179 Licensed in NC
Covering housing and economic trends of all points surrounding the RTP / RDU (Research Triangle Park), including the major markets of Cary, Holly Springs, Raleigh, Wake Forest, Chapel Hill, Durham and Johnston County.

ARCHIVED BLOG POSTS

2008 

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I'm with most folks.  I know that we probably need the Bailout - but I don't want it.  The markets are going to be better today - because it's the end of the quarter and there are somethings that have to happen, and those events will cause a temporary improvement - but tomorrow it's going to be b...
09/30/2008
It was a BIG week in Mortgage World!  A Real Nail Biter!  It was all about THE CRISIS, and depending on which day you were reading that could mean, "Are we going to have a debate?," "Is the Bailout Plan Big Enough?," WaMu or Wachovia... and the winners in this Catagory are: Matt Heaton, the milli...
09/29/2008
Wachovia is the second largest employer in the LARGEST CITY in North Carolina.  So news that it is being sold to Citi is BIG NEWS here in the Tarheel State! According to the Charlotte Observer: "Wachovia will remain headquartered in Charlotte, while Wachovia Securities will continue to be based i...
09/29/2008
I don't know if this will impact you - but if you're a licensed loan officer in NC - you should be signed up through the NMLS system.  The deadline for this is Tuesday.  Your company needs to register, then they assign you a code.  You loggin and register (take over 30 minutes).  Here in NC they ...
09/25/2008
I've been in this business for a while... my daughter would tell you I'm old as dirt... and for as long as I've been in this, we've had a complicated way of calculating FHA Downpayment. FHA always used acquisition cost.  How much were you putting into the total aquisition of the property... closi...
09/24/2008
Are you looking for a home in the Wake Forest Area?  Great NEWS!  This map shows the property that is eligible for USDA 102% fianancing!  The area that is NOT "peach" qualifies! See that line where the railroad tracks go from "peach" to white.  That's Roger's Road.  This is a GREAT part of Wake C...
09/23/2008
Here's some GOOD NEWS!  There are TONS of places that allow USDA 100% loans in Western and Southern Wake County. From the picture to the left, the areas marked in "peach" are not eligible... However, large parts of Apex clearly do! (see Kelly Road?) The line that runs from the bottom left corner ...
09/23/2008
In details released Saturday night of the Paulson Plan, the Treasury intends for us to bailout anyone who purchased "bad" loans.  So if you purchased mortgages backed by real estate in the United States, but you live in Dubai, or Spain - our govenrment will include you in the bailout too?  Accord...
09/21/2008
Sec. Paulson has been busy!  And my gut feeling is that I don't fully grasp a good part of what is being done, what the implications are for mortgage rates, housing affordability, job creation and increased taxes.  This is kinda' frustrating to me - because I genuinely work to understand our comp...
09/19/2008
Joe Adams sold manufactured homes for a while, and he has put together a great piece of information on financing mobile homes.  Remember, new construction, mobile homes on permanent foundations (and land that you own - not rented) qualify for USDA, 102% financing!  In a past life when I sold man...
09/18/2008
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