mortgages: Speechless Sundays - Is Jeff Belonger crazy nuts? - 01/30/11 01:27 AM

 
 
<<<<January 29th, 2011  
 
Okay, so I am nuts... but for those that know me, I love my snow. Yes, I love my summers and the beach also.... but one of the reasons that I still live in the New Jersey area other than family (parents / nieces & nephews) and Philadelphia sports teams, is because of the snow that we get. And in the last 2 years, been getting more snow than in a long time... last big snowfalls... 1994 & 1995... and before that... the late 70's. Last year we got like 73 total inches … (14 comments)

mortgages: Yippie, we are out of a recession !!!!! - 09/24/10 04:24 PM
 

I know it's been all over the news since the 20th of September, that we are now out of a recession since June. But I am curious, where the hell have I been all of this time. Who is stating these facts?  Did we just pull millions of dollars magically out of a hat?
Let's look at several facts.
--  We are going into an election period.  So is this just 'feel good' talk to get one to think otherwise?
--  The Homebuyers Tax Credit.  In my opinion, that artificially stimulated the economy. But that helped some real estate … (53 comments)

mortgages: Buying a home vs Renting - Understanding & knowing the difference - Part 1 of 3 - 09/23/10 03:15 AM
 

In today's economy, you will hear many different rhymes of reason why to rent now or why to buy a new home now.  Ultimately it comes down to your own decision and you should only use such news with caution.
You might have heard some say, don't buy now because home values will decrease another 5% to 20%. Remember, real estate is local. In some areas, home values have already increased by 10%.  So get to know your area and speak to a qualified realtor about this. Here is a good post showing you even if home values dropped, … (14 comments)

mortgages: Mortgage Pro Week in Review -- 09/13/10 through 09/19/10 -- Good Mortgage info is important - 09/20/10 10:36 AM
 
The MORTGAGE PRO Week in Review is back. This weekly review has been away the last 18 months due to the lack of volunteers, in helping to get mortgage related information out to the public and to help keep realtors up to date on the ever changing topics of mortgages. This review will appear every Sunday eevning, once a week. There will be a post in a few days about this group and how you can volunteer.
 
Onto Mortgages and Real Estate.  Below is some very good mortgage posts that tell you what you need to apply for a … (14 comments)

mortgages: "Realtors need to stay out of the mortgage arena" or don't they? - 09/09/10 03:45 AM

 
What does the word Realtor mean to you?  What would you consider your duties as a Realtor? I always find some sort of issue when reading mortgage related questions by Realtors on Trulia. First question would be, why do Realtors even answer these questions?  Is it to get their name out there? Self-promotion? Do Realtors know anything about the “Safe Act”?
 
The Safe Act will go into effect on October 1st, 2010, stating that you have to be licensed as a Mortgage Licensed Originator (MLO).  The overall policy of the act is that in order to take a full mortgage application, you … (38 comments)

mortgages: I want that same deal that my friend got !!!! FHA loans in New Jersey - - 08/30/10 07:35 AM
 

 
Wanting the best deal is usually on most peoples minds when heading into a purchase of any type. We all love deals, sales, getting the best. And sometimes to brag about such deals.  Back in 1993, I still can remember a Veteran that wanted a VA loan, yet we had to try to put him into a FHA loan because of his credit. Then that became a problem because he wanted the same deal that his neighbor was getting, who was also getting a FHA loan, but I told him that he had too wait 6 months or … (20 comments)

mortgages: FHA Rumors & FHA Home Loans - June 2010 - 06/09/10 04:24 AM

 
          FHA Rumors & Myths about FHA LOANS
 
FHA Mortgages have gained popularity in the last 2 years because of the demise of the subprime mortgages and because of conventional loans. Conventional loans have become harder and in some cases, more expensive depending on your credit score and down payment.
In any case, I am still hearing some negative comments and input about FHA loans.  I have been doing FHA loans since 1993 and I never felt that they hindered the loan process. These rumors are usually started by those that aren't as experienced in doing FHA mortgages.
(13 comments)

mortgages: Does the REALTOR have the right to even pre-qualify you as a borrower? - 02/27/10 03:22 AM
 
Mortgage 101 - How to qualify a borrower
 
 
 
Juggling is an art, wouldn't you agree? Well, so is pre-qualifying a borrower for a mortgage. In my opinion, it takes more than just basic knowledge and simple math skills.
In the last few days, there has been a growing debate out there that even the experienced realtors can pre-qualify a borrower.  It doesn't matter if you :
     --  know your borrowers credit scores
     --  know that they are putting 20% down
     --  know that they make x,y,z a year and the simple math says they … (13 comments)

mortgages: Active Rain Groups - Where to get your Mortgage & Real Estate related news - 02/06/10 02:40 AM
 
Where do you go for your information on MORTGAGES & REAL ESTATE?
 

Yes, Active Rain offers 100's of groups in so many different fields. Right now, there are over 6,200 groups. So where do you start if you want to find some good posts on a specific topic?  Or if you wanted to place you post to a specific group that has high readership. It could take you a while to weed through certain groups until you found what you liked.
I have been on Active Rain for 3 + years and I like to post to the … (12 comments)

mortgages: Transparency in Real Estate/Mortgages - Interview your Realtor or Loan Officer - (Part 2 of 2) - 01/18/10 02:14 AM
 
Take the TIME to do your own INTERVIEW….
 
 
What is an interview? Wikipedia defines interview as a conversation between two or more people (the interviewer and the interviewee) where questions are asked by the interviewer to obtain information from the interviewee.
When you are shopping for a mortgage or for a realtor to help you sell your house or to help you buy a house, those that you talk to, should be interviewing you. Why should they be interviewing you? To get a feel for you, to understand your needs, and to get a feel for what your … (10 comments)

mortgages: Are we living in a new era of nuts and bolts? - 12/28/09 02:58 AM
 

 
Does our government just have nuts and bolts for brains? Can one be so blind to the issues at hand in regards to our economic status, to how much further we are falling into debt, yet they keep announcing rays of hope?
Let me pose a question to everyone. What has happened to common sense and logic? Is common sense not so common anymore? 
 
Before I get into the gist of my gripe, frustration, and fear... yes, FEAR... Whenever I always debate a situation, a fact, or an issue, I always try my hardest to look at … (49 comments)

mortgages: Dave Ramsey - say it ain't so!! - 09/25/09 01:37 AM
 
Who is upset by those that say they care about us, but actually don't care.  Their sites are set on the ALMIGHTY dollar. How many proclaim to be your friend, giving good advice. I am speaking about those that have their own talk shows, web sites, etc, etc.
Below, Lewis Poretz gives what I think is a good example of someone building fame in the mortgage world, yet something doesn't smell right. Dave Ramsey has been respected by many... I don't agree with his main theme, that you should pay your house down as soon as you can... especially in … (10 comments)

mortgages: FHA Loans vs Conventionals Loans - Things you should know about even with 10% down - 9-19-09 - 09/19/09 01:55 AM
 

 
FHA loans seem to be one of the main choice of mortgages in the last 12 months or so. There are many reasons for this. And FHA loans will definitely be the main choice for anyone buying a condo now. More on that later.. What I hate hearing is that FHA mortgages have taken the spot of the subprime loans. This is not true by any part of the imagination. This statement is from those that are inexperienced in both the mortgage and the real estate industries. The realization has been that 30% of the subprime mortgages from … (9 comments)

mortgages: Are referral partners like sports fans? - 09/07/09 04:18 AM

 
…… 1 - 2 - 3    you struck out
 
How many of you are sports fans? Or just that you understand how it works sometimes. And that's when you rave about your team or a specific player. Yet something happens or that person goes into a slump.  Now you drop them like a sack of potatoes.
Well, in the real estate world of things, this seems to happen more than we would like at times. People can tend to be creatures of habit. When the tough get going, they go.... but wait, is it really even that bad? … (12 comments)

mortgages: FHA loans closed in 15 days - Say it isn't so.... - A FHA loan Rant - 09/04/09 04:08 AM
 
Time is $$ Money $$
 

How many times have we heard that time is money??? One thing that I keep hearing is how long it takes to close FHA loans. Just the other day, Michelle Gibson wrote : FHA loans approved & closed in 15 days? -
I have been doing mortgages since 1992 and my first FHA loan was in 1993. On average, up until this past year, they could easily be done in 30 days or less. The typical time was 3 weeks. There are too many bad rumors that surround how FHA mortgages work and … (15 comments)

mortgages: Do you answer questions outside of your expertise or market area? - 08/30/09 11:45 PM
 

Do you think you are helping the situation, but actually hurting the situation by answering a question??
I am sure many of us want to help answer a question, giving our honest opinion and such. Hoping that it could give some good insight to helping that person with their question. But how many times could this actually turn against the person seeking help, answers, and some guidance?
I bring this up, because I signed up for Trulia questions a few months ago, and I see so many realtors answering questions that should be handled by a professional loan officer.  … (74 comments)

mortgages: The Basics of FHA Loans - Mortgage 101 for FHA Mortgages - 08/24/09 - 08/24/09 07:31 AM
 

As many of us know in the real estate market, FHA loans are being used more than ever before.  With the disappearance of the subprime market of 2 years ago and in several cases, that conventional loans can be more expensive, more FHA loans are being utilized.  I just wanted to point out some basics, because I am still hearing some misleading information that makes me cringe from time to time.
 
FHA loans are more expensive than conventional loans.  - FALSE
This one is always a favorite of mine. Right now, forget about the pricing hits on the … (10 comments)

mortgages: As a Dual Agent, are you like a Double Agent? - Dual Agency - Buyers Beware!! - 08/10/09 03:40 AM

 
Dual Agency can sound like a harmless word, right?  We are suppose to trust anyone in the real estate and mortgage industries, right? Sounds simple enough when the person representing you says that they have your best interests at hand. But wait, let's dig a little deeper, because not every realtor will explain it correctly to you, hoping that you truly don't understand both sides of the equation.
 
Let's define Dual Agency. - Is when a real estate agent is representing both the seller and the buyer at the same time in the same transaction.
Since we are … (100 comments)

mortgages: Pre-Qualification Letter vs Pre-Approval Letter vs Commitment Letter - Knowing the differences - 07/16/09 06:36 AM
 

 
WARNING - Common sense prevails here..... 
 
Does this sound easy to answer? Which came first, the chicken or the egg?  How about this question.... Do you know the difference between a pre-qual letter and a pre-approval letter?  Both answers could differ greatly, depending on who you speak to and who is a professional on the subject matter and who isn't. I just wanted to dig a little deeper into this. There seems to be a major misunderstanding in my opinion.
You first need to read this post by Steve Kappre & the comments: Pre-Approvals that pack a … (40 comments)

mortgages: Sellers !!! Ignore what your listing agent tells you about FHA loans !!! - 07/11/09 04:26 PM
 

FHA mortgages, such a very very bad thing.  Don't do it... Don't allow your buyers to utilize this program. Don't allow your seller to accept offers with FHA mortgages. They are very very bad....
 
HOLD THE PRESS !!!!..  Wait one second.  In the real estate and mortgage industry, don't we get angry when someone offers their professional opinion on a topic or question that they don't know much about.  That their advice could be an assumption, or from prior years, or from a bad experience?
 
PS. my initial comments above was a joke. FHA loans aren't a … (75 comments)

 
Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages  - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) Ambassador large

Jeff Belonger

The FHA Expert - FHA Loans - FHA mortgages - USDA...

Cherry Hill, NJ

More about me…

Social Media - Infinity Home Mortgage Company, Inc

Address: Cherry Hill New Jersey 08034 08002 08003, Haddon Heights New Jersey 08035, Haddonfield, NJ, 08033

Mobile: (609) 440-5133

Fax: (775) 361-6619

Email Me

Subscribe to Mortgage Knowledge at its BEST!!!! (Jeff Belonger) I just want to educate people about mortgages and the process. In regards to lending, I am very creative, intuitive, honest, and one who communicates information, may it be good or bad. I am a loan officer that looks out for your best interest.
The FHA Expert - About Mortgages on Facebook


Listings

Links

Archives

RSS 2.0 Feed for this blog