Illinois and Indiana Home Loan Expert in FHA | VA | USDA | FHA $100 Down | FHA 203(k) | Fannie Mae | Ginne Mae

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Mortgage and Lending - Canopy Mortgage, LLC - NMLS 124492
Certified Mortgage Planner, Certified FICO Pro and Certified Military Housing Specialist blogging about mortgages, real estate, economics, politics and community events.
Here is fact that will go overlooked by many simply because they don't know. Do you really think that the FOMC cut the Fed Fund Rate and the Discount Rate by 0.750% on Monday night for the benefit of you and I? Not exactly.They actually did it for the big financial institutions with the opes of t...
Did you hear the horrible news this week?Rates were down once again at the early part of the week. How could lower rates be bad news?Because of the publicity, consumers are going to run to the unqualified loan officers that got them into the mess to begin with on the hopes of capturing a better r...
Negative amortization is the greatest thing since sliced bread. If you don't believe me, ask anyone that carries a revolving charge card in their wallet and only pays the minimum payment. Without the utility of a minimum payment option, consumer spending would be nowhere near where it is today. I...
With the emergency FOMC action on Tuesday, January 22nd, an emphatic positive was given to note holders with adjustable rate mortgages (ARMs). Since the ARM is based on an index plus a qualifying margin, homeowners can look forward to their adjustable rates going down, not up in the near future. ...
Bill Gates made it official at the World Economic Forum in Davos, Switzerland, that money doesn't mean much if not properly utilized. Upon stepping down from the helm of Microsoft come early summer 2008, Bill & Melinda Gates will tackle with all of their ferocity the good that can be provided by ...
I am sure that everyone has heard about the 0.750% surprise cut to the Fed Funds Rate and Discount Rate by the FOMC this morning. Although the reduction in the both key rates will have impact on short-term financing, will it really eliminate the big "R" word. Based on the actions and their focus ...
For those of you who didn't hear, the FOMC made a surprise move overnight which reduced the Fed Funds Rate and the Discount Rate by 0.750%. Although the financial markets anticipated up to 1.000% reduction at the scheduled meeting for next week, this came as a big surprise.The timing of the unsch...
As we reflect on the impact that Martin Luther King, Jr has had on society, we must ask ourselves why are we in this emotional roller coaster of an industry called real estate? I have been given many answers and excuses such as the money is good, flexible schedule, etc... Let's not forget that we...
The broad-based tax relief package proposed by the Bush Administration is another feeble attempt treat the effects instead treating the source. $500 - $800 tax rebate check may sound enticing; however, will everyone spend it. Those who need it will. For others it will simply be swept into a savin...
Scenario: $300,000 purchase; 5% down; 30 Year Mortgage. What is your rate and fees? I guarantee that I will get a variety of answers from loan officers all across the country. I also guarantee that you would receive up to 4 qualified quotes within minutes if you offered that information online. T...

James K Barath, CMPS

FICO Pro, Certified Military Housing Specialist
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