mortgage: Reverse Mortgage Myths
- 06/16/08 04:41 AM
MYTHS- 1) I would be selling my home to the bank: FALSE: You keep your home, the lender will add a lien ( just like any mortgage) but you still have complete control over your property 2) My heirs won't inherit anythig: FALSE: Your estate only owes the balance on the mortgage. The balance is however much you spent and interest. Remember, also, that your heirs will also have any investments you have made with the reverse mortgage proceeds. 3) I might "outlive" the loan: FALSE: FHA/HUD reverse mortgages are designed specifically so that you cannot outlive the loan. When you … (7 comments)
mortgage: THE NEW FHA?
- 12/17/07 04:41 AM
It looks like the House and The Senate are trying to come up with a better FHA Loan. As Of December 12,2007 here is where we are: DOWN PAYMENT: Senate$ 1.5 % House 1.5 % Max.Mortgage Amount: Senate: $417,000. House: $729,000. Seller Assistance: Senate: 0 House: 0 There is still talk about "Risk Based Pricing" where FICO Scores could change the amount of Mortgage Insurance from as low as 1.5 % to a high of 2.00 %. Everyone wants to see a change by year end, but with the Holiday schedule it appears that a change will happen in early 2008. This could be a … (6 comments)
mortgage: MAKE YOUR LISTINGS STAND OUT!
- 12/13/07 04:24 AM
WHEN WAS THE LAST TIME YOU CALLED YOUR SELLER TO LOWER THE RATE? Yes, lower the rate. With all the inventory out there, you as the Realtor must make your listing stand out. Many times you tell the seller, that the only way to get more showings is to lower the sale price. Asking a seller to lower the price of the home $10, $20,000. is not an easy task. It is money out of the seller's and your pocket. Consider this: If two similar homes are for sale and one is offered at 5.50 % interest and the other is at … (4 comments)
mortgage: HOME QUICK MORTGAGE STILL GOING STRONG !
- 12/07/07 02:08 PM
A NATION-WIDE LENDER ! THIS HAS TO BE THE BEST LOAN I HAVE SEEN IN MY 35 YEARS AS A LICENSED MORTGAGE BANKER! THE HOME QUICK LOAN MAX. LOAN AMOUNT $417,000.NO INCOME CHECKNO ASSET CHECK5 % DOWN (PRIMARY PURCHASE)10 % DOWN (VACATION / SECOND HOME )SELF-EMPLOYEDW-2 APPLICANTSAME LINE OF WORK FOR PAST 2 YEARSGOOD CREDIT SCORE (680 + )SAME LOW RATE AS A FULLY DOCUMENTED CONVENTIONAL LOAN !YOU ARE APPROVED !SO TAKE ADVANTAGE OF YOU GOOD CREDIT AND APPLY TODAY ! REALTORS! Please check out my Hobbs/Herder Free Marketing Program......RECAMP … (0 comments)
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