Roland Carillo, Manager of Van Dyke Mortgage in North Carolina wrote this blog that more or less agrees with what I said in October that caused a pretty heated exchange. In late November I also went into the changes Roland talks about here. All in all, the only loans I know of being made under th
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01/19/2009
The second post that I made on my website about refinancing covers the changing in the real estate mortgage market that may make it impossible for you to refinance even if it does make sense for you to do it. Changes like the loss of equity through lower sales prices, or charges for cash out refi
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01/19/2009
Last week, I posted two separate articles on my website about refinancing. The first one is about whether or not it makes sense to refinance and takes the reader through the reasoning behind the refinance. A lower rate does not always make refinancing the right option. Just because you are gettin
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01/19/2009
Helping people that are having trouble, not just with making their mortgage payment on time, but puting food on the table or buying gas for their car is something that we all should be concerned with. Oregon State University has established links on the Extension Service website to do just that.
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01/14/2009
I have a customer that I am working with on a short sale. The property is a definite starter home but more is owed against it than it more than the offer. The offer is the maximum the client is able to pay for the property and qualify for the loan at current interest rates. The property has had n
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01/13/2009
RATES! WHAT ARE THE RATES? MORTGAGE RATES! THE FED IS INFUSING MONEY! WHAT ARE THE MORTGAGE RATES? DOES IT MAKE SENSE TO REFINANCE MY REAL ESTATE LOAN? HOW CAN I MAKE OUT ON THIS NEWS? Five times in the past year, Mortgage Backed Securities (MBS) have jumped up in price to this level. All of thos
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01/13/2009
This is an interesting list of do's and don't's of loan modifications from Ralph Roberts out of Michigan. I have good thoughts and bad thoughts about loan modifications. For instance, on item 5, I really think the consumer should attempt the modification for themselves first and if that doesn't
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01/12/2009
Sue Botehlo, a USDA Rural Housing Mortgage Pro in Fort Walton Beach, FL posted this list of changes in mortgage guidelines for 2009 and it is an excellent list. Of note, the new FHA loan limit for Lane County is $271,050, down significantly from the temporary increase. Also, the USDA Guaranteed
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01/11/2009
