monroe: USDA is adding mortgage insurance
- 06/02/11 11:51 AM
USDA Loans Will Have Monthly Mortgage Insurance as of October 1, 2011What Does This Mean To You? USDA Rural Development and its loan program were designed to help improve the economy and quality of life throughout rural America. The program continues to remain a wonderful option for qualifying homebuyers, with zero down payment required.But a change is coming!Beginning October 1, for the first time in the history of USDA, the Single Housing Guaranteed Loan Program will have an annual fee. This fee will be calculated based on the guaranteed loan amount and based on the average annual scheduled unpaid principal … (0 comments)
monroe: The Art of Database Management
- 11/30/10 04:10 AM
Most of us are sales people when you get right down to it. Our job is to sell our services - and ourselves - as we strive to add more clients to our existing book of business. The unfortunate fact is that most of us are in such a hurry to sell our services that, in the process, we forget to do the most important thing relative to sales. Remember the quote from Bill Gates? The most important thing we can do is gather as much information as possible and understand what our customers need. From there, we can construct a … (1 comments)
monroe: Stop Paying your Landlords Mortgage!!!
- 11/22/10 03:59 AM
It's staggering when you think about the cost of living, especially if you're a renter and not a home owner. If you are currently paying $1,000 a month for rented housing, then over the next three years, your property management company will effectively have reaped $36,000 of your hard earned cash! You're paying their mortgage when you could be building equity in your own property.What if I don't have the money to buy a home right now?There are many loan programs available that offer low and no down payment options. Some programs permit gift money as a down payment, and often … (2 comments)
monroe: Be the Gate Keeper...take control of the lead
- 11/19/10 04:25 AM
The Law of The Gate Keeper states: The business professional that refers out the most business will create the most reciprocal referral relationships in return. Translation: The business professional who controls the lead WINS!Regardless of your vocation, there will always be other business professionals that you should seek to align yourself with because they represent a potential increase in business for you through referrals. The easiest way for you to develop relationships with the people you want to work with is to start off the relationship by referring new business to them. This is The Gate Keeper concept in its truest … (0 comments)
monroe: The Four Steps To Properly Setting Goals
- 11/12/10 07:28 AM
First, set a positive goal for yourself. "I will save to buy a home" is a positive goal, while "I will not spend money" is a negative goal. By focusing on the positive, you'll quit spending money because you'll be so focused on your goal that you won't notice you've stopped spending money.Second, set a date for achieving your goal. A goal is not a goal until you set a date for it. So set a date for achieving your goal, and make sure your date is attainable. If it's not, you'll become discouraged and quit. But don't set a date … (2 comments)
monroe: USDA 100% Financing!!
- 10/28/10 06:54 AM
USDA HOME LOAN GUIDELINES Sometimes good credit and a steady income arenot enough to qualify for a home loan at a commerciallending institution such as a mortgage company.More rural families and individuals may be eligibleto become homeowners with the help of aUSDA guaranteed home loan. When the federalgovernment agrees to guarantee a loan, lendinginstitutions can help buyers while incurring lessrisk. Through USDA's Guaranteed Rural HousingLoan Program, low- and moderate-income peoplecan qualify for mortgages even without a down payment.Guaranteed Rural Housing LoansTo be eligible, applicants must:Have an adequate and dependable income;Be a U.S. Citizen, qualified alien, or be legallyadmitted to the … (0 comments)
monroe: Everything that Americans Once Knew About Home Mortgages — But Should Ask
- 10/20/10 05:50 AM
Americans are discovering the concept of foreclosure and the loss of a home in a very real and disturbing way. Despite the rhetoric from Washington and sensationalist media, the process of resolving defaulted mortgages is moving ahead, one reason why the U.S. will not be Japan. But we have all forgotten the experiences of the 1930s when it comes to home foreclosure. We seem to be moving from voluntary foreclosure moratoria put in place by banks for public relations purposes in 2010 to unilateral state law foreclosure moratoria like those put in place during the 1930s in 2011. States such as … (0 comments)
monroe: Pitches to fix bad credit to be a scam
- 10/19/10 05:39 AM
By Michelle Singletary Every day, consumers pay untold sums to companies that promise a quick credit fix. Most of the time, that money is wasted.I understand why these offers might seem so enticing. Good credit can get you much better interest rates for a car or home loan. A bad credit history can leave you stuck with loans carrying high rates and other onerous terms. In some cases, bad credit can even cost you a job.But make no mistake about it. While there are some legitimate credit-repair companies, many of the claims you hear advertised are usually false and a con … (2 comments)
monroe: Understanding the Credit Crunch in Lending
- 10/18/10 07:30 AM
The media has coined the phrase "Credit Crunch". Most people that I talk to have no idea what this is or what it means. All they see is on every news station that more lenders are going bankrupt or cutting programs. What I will attempt to do here is explain what happened and how it affected our markets. But first I need to take it back a few years and explain a bit about the system. We will start about 3 years ago. Appreciation of homes in the nation was growing rapidly. I will use some very conservative figures and say … (0 comments)
monroe: 10 Things We Over Pay For
- 10/08/10 05:38 AM
Does the avalanche of news about layoffs, business losses and a declining stock market have you looking for ways to cut your spending so you can beef up your savings? We're here to help, with suggestions for less-expensive alternatives to ten everyday purchases (for more ideas, go to www.BillShrink.com, which tracks cell-phone plans and credit cards). Afternoon snacks. Do you munch protein bars as a healthier alternative to a chocolate pick-me-up? You could easily be paying more than $2 per bar and consuming just as much sugar as you would with your favorite candy bar. Stock up on fruit for a … (0 comments)
monroe: FHA changing its mortgage insurance fee structure
- 10/05/10 06:29 AM
FHA has announced that beginning with case number (application) assignments on or after Oct. 4. FHA monthly mortgage insurance premiums will rise to .90 basis points. This change also includes a decrease in the upfront financed mortgage insurance premium to 100 basis points down from 2.25 basis points currently in place. If you are going to use the FHA to purchase or refinance a home you wanted to get your application in before Oct. 4 and have your case number pulled at that time. How much more this will cost the borrower is described in the following scenario. With a base … (2 comments)
monroe: But what would another round of Quantitative Easing mean to Bonds and home loan rates?
- 10/04/10 06:17 AM
Let's break it down into four important aspects: (1) When would it happen? (2) How much money would it involve? (3) Why is this being contemplated? (4) And what does it mean to home loan rates? First, as stated above, whether QE2 happens will be dependent upon the upcoming data releases. Many experts agree that if the Fed does make a move, it will most likely happen at the next Fed meeting, which is scheduled for November 3rd. Second, the question of "how much" is still up in the air. As stated above, New York Fed President William Dudley gave an … (0 comments)
monroe: Managing Your Schedule Just Got Easier
- 10/01/10 06:00 AM
Google is constantly coming up with innovative ways to provide us with quick and easy access to the information we need. In addition to hosting the biggest search engine in the world, GoogleTM also offers a great desktop search bar, a mapping program with detailed driving directions, and even a photo management system. Now Google has turned its sights on keeping our days organized with Google Calendar.As with most of Google's applications, Google Calendar costs nothing and signing up is as easy as logging on to www.GoogleTM.com/calendar and creating a free account. It will take you all of two minutes to accomplish this. … (2 comments)
BrianTracy once noted that, "80% of life's satisfaction comes from meaningful relationships." If you would like to have better relationships with your spouse, children, co-workers, and clientele, we encourage you to read on, and to adopt the 100/0 Principle. What would happen if you took full responsibility for a relationship (the 100) and expected nothing in return (the 0)? As the above movie from Simple Truths tells us, "When you take authentic responsibility for a relationship, more often than not the other person quickly chooses to take responsibility as well." Take a few moments … (1 comments)
monroe: Tips for First time Home Buyers
- 09/27/10 05:54 AM
Buying your first home can be an exciting, yet often overwhelming, experience. These 10 tips will help you navigate the process. 1. Clean up your credit. If you have poor credit, you are a bigger risk in the eyes of lenders. You'll pay the price in the form of higher interest rates. Higher rates can reduce the amount of home you can afford or keep you out of the housing market altogether. Make a point of paying auto loans, credit card bills, and other payments on time and in full. If you want help developing a plan, you can contact … (3 comments)
monroe: Improving your FICO credit score
- 09/22/10 05:16 AM
It's important to note that raising your FICO credit score is a bit like losing weight: It takes time and there is no quick fix. In fact, quick-fix efforts can backfire. The best advice is to manage credit responsibly over time. See how much money you can save by just following these tips and raising your credit score. Payment History Tips Pay your bills on time.Delinquent payments and collections can have a major negative impact on your FICO score. If you have missed payments, get current and stay current.The longer you pay your bills on time, the better your credit score. … (2 comments)
monroe: Tips for buying a second home
- 09/21/10 06:58 AM
When shopping for a home, take your time. Be patient. Weigh the pros and cons of each place. If you like something, don't make any rash decisions. Stew on it a couple of months. Ask yourself: How often will you visit and how much time will you spend there? Is it worth the money? What will the price appreciation be, realistically? How much will you have to pay every year for landscaping, association dues, garbage collection and taxes? Don't try to time the purchase to get a better price. Make sure you can get the insurance you need, particularly if you … (0 comments)
monroe: What is the Velocity of Money and How Does it Impact Home Loan Rates?
- 09/03/10 05:26 AM
According to the most recent Commerce Department report, Personal Spending and Personal Incomes were unimproved from the previous month, and the Savings Rate increased as consumers cut back on spending. While that data sheds light on the slow economic recovery, it also has implications on home loan rates. Here's why. It has to do with something called the velocity of money. Even though the government keeps pumping money into the system, nothing happens until that money is spent or lent, and passes from one hand to another or one business to another. The speed at which this money passes between parties … (1 comments)
USDA Loans Will Have Monthly Mortgage Insurance as of October 1, 2011What Does This Mean To You? 
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