Jay Beckingham's (jayb) Blog

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Mortgage and Lending - Bank of England Mortgage - 385907

ARCHIVED BLOG POSTS

2009 

dit da dit da dit da dit da dit; News Flash! Monday, November 30th, CNNMoney.com reports; Obama ups pressure on banks to help homeowners; loan servicers must detail plans to assist borrowers long term. Laggards could face penalties and sanctions. Oh Please! Not (unnamed) penalties and sanctions. ...
11/30/2009
Okay, here's the deal. It's actually quite simple. You must meet some basic criteria. You must qualify for VA or USDA/Rural Housing 100% financing. In the case of VA, the seller must agree to pay your closing costs. In the case of USDA/Rural housing, either the seller must agree to pay your closi...
11/28/2009
Just stop for a minute and think about this. No matter who they represent, be it that they work for the lender/mortgage holder, or that they were hired by the lender/mortgage holder, they don't represent US! By US I mean the Realtors, Mortgage Brokers, or any new lender, the Buyers, the Sellers, ...
11/25/2009
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The closing agent from the title company says, "we have a funding #," as she walks by with a copy package of signed documents. The buyer looks up, and innocently says, What does that mean?  The hard working Realtor smiles. The loan officer, throws his arms up in the air to signal a score. That's ...
11/24/2009
Caution! This is not a rant. Well maybe a reverse rant, if you know what I mean. A rant according to Webster's is talking wildly, I do do that sometimes, I guess, after all I'm an excitable boy, when properly motivated. Angry is defined as being enraged. Maybe I am angry, and just don't know it. ...
11/22/2009
Boy I've read some of the articles bashing Lawrence Yun, the NAR's economic guru, and some of it wasn't pretty. Oh well, when you put yourself our front like that you're subject to both praise, I didn't hear any, and criticism, he got plenty of that. The postings and bashing did make me think tho...
11/21/2009
Maybe, or Maybe not! I mean I'm a loan officer with over 25 years of experience and some of this terminology throws me for a loop. To me the question to ask if you hear that a loan is "clear to close" is when will the closing package be sent out. If there is dead silence or a long pause, prepare ...
11/20/2009
To the Buyers; It's kind of interesting, to a certain degree, that the house that you can purchase today for $100,000 once sold, or could have sold 2,3, or 5 years ago for $250,000. It's really great that you don't have to pay that for the house, because maybe you couldn't or wouldn't have tried ...
11/19/2009
Well I started looking for a home, and my Realtor told me I had to be preapproved. Since Pre means before I took it to mean I had to be checked out before I was to be approved, which as it was explained to me would take place after I signed a contract to purchase. I gave them my social security n...
11/19/2009
The Va Loan Program for eligible Veterans is just flat out a great program and a wonderful opportunity for qualified Veterans and; They EARNED it! I mean we're talking about 100% financing with no monthly MI Here's some of the requirements; 181 days of active duty during peacetime 90 days of acti...
11/19/2009
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Jay Beckingham

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