lee county loan officer: Cape Coral's Cookin... and I don't just mean cheeseburgers and bow wow's; although there's plenty of that - 04/01/12 12:35 AM
you know, ordinarily in a posting about Cape Coral I'd want to make sure I mentioned our 400+ miles of waterfront and I'd certainly want to sneak in a shameless plug about the weather like
currently it's sunny and 70 degrees heading to a high in the upper 80's
 today I'm going to leave that stuff out.
What's really got my attention here though are these numbers:
Nov 2011   318
Dec 2011   330
Jan 2012   339
Feb 2012   379
better get em while they're hot
Here's some interesting numbers if you're still concerned with instability, you know foreclosures and short sales. … (2 comments)

lee county loan officer: I Paid Cash for my home...NOW I'd like some back - 01/19/12 12:39 AM
In Southwest Florida, where I live, for the last 2-3 years at least an extremely large number of sales have been consumated by $$$$$ buyers, much to the delight of the Realtor World I may add.
Why so many cash Buyers you may ask?
I think that there are a few reasons;
1. you have your traditional cash buyers who don't want a mortgage and don't need one
2. some did it for convenience and timeliness, that being to complete the transaction quickly
3. others needed to pay cash due to the property quality. It needed work and the buyers … (5 comments)

lee county loan officer: Hey Charlotte County Florida; USDA/Rural Housing needs your help! - 06/01/11 12:04 PM
Direct form the National Office in Washington D.C. this is the announcement in the SFH Origination news.
Guaranteed Loan Funding Update: HELP WANTED!
Okay let's do a little house keeping here. SFH is what it appears; single family housing and no USDA didn't allocate 24 Billion just for Charlotte County, but there are many many properties which are eligible in Charlotte County.
Now that's 24 Billion for the fiscal year which ends September 30, 2011 and 9.2 Billion has been already allocated to fund 70,759 loans nationally, so they have been busy, but
we need to … (0 comments)

lee county loan officer: "Know Before You Owe," brought to you by the Bureau of Consumer Financial Protection - 05/20/11 03:29 AM
Catchty, aint it.
Okay to be perfectly clear who is the Bureau of Consumer Financial Protection is, or the CFPB as it is also known.
Here's from the Treasury website;
the Bureau of Consumer Financial protection will be an independent bureau within the Federal Reserve System that will help empower consumers with the information they need to make financial decisions that are best for them and their families.
Sounds pretty good, right? Only in America can you be both "independent," and "within."
Know Before You Owe
What are they referencing, and who are they protecting you from?
First, I must ask, … (5 comments)

lee county loan officer: Food for thought (from an old master) - 05/16/11 04:43 AM
You know, some books age real well. You can pick them back up, whenever, and the value's still there.
Here's one;
Something to SMILE About
by, well later.
I really had to think about this one.
Consider the turtle. The only time it makes progress is when it sticks its neck out.
Think now, how many times over the last few years do you think this was necessary to be successful in your business. You just had to do a little more, see it a little differently, stick your neck out to "git er done."
You know there's been a lot of … (0 comments)

lee county loan officer: USDA/RURAL HOUSING ALERT for Lee County Florida - 05/11/11 03:57 AM
Your being wiped out.
Not totally, but close.
Here's a statement from the Florida state office,
most of Lee County is ineligible
When will this occur?
According to the USDA not before September 1, 2011, so you may still go online and use the existing eligibility maps.
Beware, if this is the best program for a buyer, there needs to be a sense of urgency, such as buy now.
Here's the new proposed area;
All area contained within and beginning at the Charlotte/Lee County line and State Road 31, south along State Road 31 to Williamson Road, east on Orange River … (2 comments)

lee county loan officer: Make Hay while the Sun Shines...Rural Housing changes are on their way - 05/05/11 02:39 AM
Let me start out by clarifying that statement.
First, I'm talking about area eligibility. That is property location.
Second, I'm a Southwest Florida Loan Originator and will focus mainly on that area.
But, there are some generalities that apply to the whole state and/or the whole country.
As the USDA release states they are making the changes because they have to, "it's the law."
and I quote
"the Agency is required to review rural areas for continued eligibility after the release of the decennial 2011 U.S. Census, as well as additional reviews every 3 or 5 years depending on population growth. … (0 comments)

lee county loan officer: Would Mom Approve? - 05/02/11 03:43 AM
Sometimes when I read postings and/or comments online all I can think is
Did they really say that? for all the world to see.
Here's a few thoughts you might want to have, before clicking send.
If someone googles you, this is what is going to show up, your recent comments.
Whatever they may be.
Think about who may be googling you.
your friends, relatives, those who are not friends, current and future employers, prospective clients, and
the rest of the World
If you use the internet to develop business, please beware that all of your comments are fair game.

lee county loan officer: Fannie Mae's Homepath Offers GREAT financing for Properties in Lee, Charlotte, & Collier Counties, and it just got better! - 04/13/11 12:38 AM
It just got better?
Yes it did!
If you're not familar with Fannie's Homepath program let me help you out here. If you are here's a refresher, with some new info, and a great new option.
Fannie Mae offers the Homepath program for their foreclosed properties. They currently hold approximately 162,000 homes in their portfolio, with an estaimated value of 15 Billion. As of today here's what we've got for Lee, Charlotte, and Collier Counties.
Lee  503 properties
Charlotte  136 properties
Collier  173 properties
So in the 3 counties, we have over 800 homes available. Please keep in mind that these … (2 comments)

lee county loan officer: YES YOU CAN! - 04/06/11 02:53 AM
Acquire a mortgage that is.
In a recent article, Les Christie of CNNMoney.com writes,
Prices are low! Mortgages cheap! But you can't get one
Well to that I say
I was thinking about another expression, but ruled it out.
I'm just so tired of the negativism and dishonesty of our national media.
Negativism is a highly infectious disease, which has created more damage than we are able to calculate.
I here by issue a challenge to Les to debate this issue anywhere, anytime.
Let's get the truth out on the table here.
Les says you need 20% down. NOT … (0 comments)

lee county loan officer: My GOAL is to Enrich the Lives of others, you're invited to share my goal. - 03/18/11 02:22 AM
Maybe it's just me, but often I take some time to reflect upon what I (we) do and the consequences or the end results of what I do.
I was reading Carmine Gallo's book, "the Innovation Secrets of Steve Jobs," and I was struck by Jobs desire for Apple to make positive changes in peoples lives, to enrich their lives so to speak. I suppose I was influenced by the comments because I feel that that's what I (we) do, in most cases.
Let me turn this, to a certain degree into business speak sighting two specific examples or comments, one new, and one from … (2 comments)

lee county loan officer: A Few FACTS about getting a Mortgage APPROVED in Today's World - 01/11/11 01:40 AM
Let's start with the following basic premise;
Whatever you did, to get your mortgage approved 1 year, 2 years, 3 years ago, or maybe even 3 months ago, does not matter. All that matters are the processes and guidelines
Okay, REQUIRED Documentation
require;  to demand, to need...so says Websters
the last 2 years of tax returns (all schedules; all meaning ALL)
the last 2 years w2's
the most recent 30 days of paystubs
the most recent 2 months of bank/asset statements (all pages; all here still means ALL)
retirement statements
copy of drivers license(s); social security card(s)
copy of executed, legible contract … (0 comments)

lee county loan officer: "Massachusett's High Court Invalidates Foreclosure Sales" - 01/10/11 01:15 AM
So says (writes) Sheri Qualters for the National Law Review.
"Court gives banks "beat down" over foreclosures"
So says (writes) Les Christie for CNNMoney.com
To quote Vince Lombardi,
"what the h---'s goin on out there?"
Here it is from Christie's article;
" the banks failed to make the required showing that they were the holders of the mortgages at the time of foreclosue,"
That's what Justice Ralph Gants wrote for the Massachusett's Supreme Court.
Supreme Court...that's the biggie in Mass, right?
what does this mean? well it's probably too early to access the big picture, but for sure … (7 comments)

lee county loan officer: Alllllllllllllllllllright!!! More Fantastic Portfolio Loan Products become available in Southwest Florida! - 09/23/10 02:02 AM
Just the other day I posted an article about "Portfolio Loans" making a comeback in Soutwest Florida. Remember now, a portfolio loan is one where the lender/investor establishes the guidelines, makes their own rules, so to speak. It's their $$$$$, and they are free to lend it as they chose.
Once again let me remind you that these are not subprime loans but rather
"Make Sense"
loans to good quality customers who just don't fit in Fannie/Freddie guidelines
Here's some new stuff;
originally Foreign National loans were only being made to Canadian citizens, with these programs. That has now been expanded … (4 comments)

lee county loan officer: Portfolio Loans, remember those? are making a comeback in Southwest Florida - 09/19/10 08:43 AM
Do you remember portfolio loans?
Do you know what they are?
A "Portfolio Loan" is essentially a loan that a lender/investor keeps in their portfolio, that being that they don't sell it to anyone. Because of this the lender/investor gets to make the guidelines.
It's their rules.
In the old days, before the days of the ultimate in lender craziness, banks usually offered portfolio loans to their best customers, who could not qualify for the stuff fannie and freddie were offering. In most cases the client didn't qualify because they could not justify the payments, based on the income stated … (2 comments)

lee county loan officer: Be Smart! ESCAPE EARL-visit Southwest Florida - 08/30/10 11:19 PM
Hey East Coasters...Come on Down
Escape Earl
Come on, you don't really want to start your holiday weekend with this storm, and you surely don't want to spend the rest of the weekend on cleanup.
Why risk it-Visit Southwest Florida this weekend.
Try out Cape Coral, Fort Myers, Fort Myers Beach, Sanibel Island, Captiva, Bonita Springs, Naples
Why not?
Here's our weather forecast
Sounds hard to take doesn't it.
Here's some of what we've got for you.
Gorgeous white sandy beaches, quality golf courses, beeeeautiful gulf waters, boating, fishing, and much more
Here's what we don't have
Oh … (2 comments)

lee county loan officer: We killed Downpayment assistance programs, BUT gave away 12.6 billion in taxpayer funded credits.Should we rethink this? - 08/04/10 01:05 AM
Okay I was watching TBWS, and they brought up HR 600, a piece of legislation which is lingering around with no activity. The purpose of the bill is to restructure DPA's (downpayment assistance).
First a quick note on TBWS.com. That's "Think Big Work Small" and if you've never seen these guys, I personally think you should. You can get a basic subsciption free, that's right free, meaning at no cost, and the info is great, and presented in an exremely entertaining manner. Check it out.
Back to DPA's and Tax Credits
It has been reported that the taxpayers funded 12.6 billion … (4 comments)

lee county loan officer: You've just gotta give em a chance to say NO! - 08/03/10 05:45 AM
In the olde days, way back when, I attended a Tom Hopkins seminar, part of the presentation was about answering objections, and why you should be happy when the client says "no."
The reasoning here was that if on the average it took 10 clients to generate a sale that you needed to first have 9 that said "no."
Actually, Tom said, "you should thank them."
NO! well thank you very much.
You'd need to say it with sincerity, because after the 9th "no," well you know, the next client would be saying
As much as I don't like to … (2 comments)

lee county loan officer: PRE-APPROVAL LETTERS-If they're WORTHLESS why are they required? and other questions which need answering. - 08/03/10 03:03 AM
So what's the answer? You tell me.
Just like Frazier Crane,
I'm listening
If you think they have no value
why require/use them at all?
why not INSIST on content that creates value?
why don't you hold the lender's feet to the fire?
why not establish consistent guidelines?
Do something about it.
Make them pass the test
they MUST be base on hard core data, currently in the issuers hands
the issuer MUST disclose what they based the preapproval on, what type of program is involved, how long the preapproval is good for.
the lender MUST disclose what type of institution they … (11 comments)

lee county loan officer: Mortgage Modifications: Are They Successful? - 03/29/10 01:10 AM
First of all, I think that there are probably many different opinions as to what would be considered successful. I don't think that we went into this with a clearly defined goal such as, if 50% of the modifications work than they're successful, or 75%, or 90%. I think that that was not established up front. We did not establish any clear expectations.
Let's try Websters;
Success;  a favorable result
Okay, some have had favorable results and some haven't.
Bloomberg reports (March 25th)
more than half of US borrowers who received loan modifications on deliquent mortgages defaulted again after 9 months, according … (0 comments)





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