equity lines: The Economy's Silver Lining For Real Estate - 01/22/08 12:11 AM
It has been said that you should always look for the silver lining. That might be hard to do right now for some as we appear to be looking down the barrel of a rec..., wait, let's just say leaner economic growth than previously experienced. This is an election year, 'et's be politically correct.
The silver lining for those of us in Real Estate and Home Financing is lower rates. Why does the impending leaner economic growth :) mean better rates. Well, a day like Monday on the Asian markets sends traders from volatile but high yield potential stocks to predictable modest … (3 comments)

equity lines: Haven't Applied for a Loan in a Few Years - You May Have Some Surprises - 01/11/08 03:57 PM
I had an old neighbor email me today asking about her financing as she gets ready to buy a home. The answers I gave are pretty vanilla, but for her they are probably shocking because she hasn't applied for a loan in 3 years. She inquired about doing an 80/20 to avoid MI - clearly she hasn't been keeping up with guidelines :) How things have changed! Two years ago no one would have a loan with MI and now it really is the right way to do it for many borrowers.
 
"Things have changed a bit since the last time … (2 comments)

equity lines: 2008 Nashville Market Outlook - 01/07/08 07:12 AM
As we get rolling into 2008, the best sources are indicating that the Nashville market is extremely healthy. According to Moody's Economy.com, Nashville's housing market is "faring better than the markets of other larger metro areas and it maintains a positive outlook."  One of the reasons for the market's good standing was the abscence of quickly inflated prices - often due to strong investor activity - seen in many areas of the country that are now hardest hit by price retreats. "Nashville has below average exposure to investors and to nonprime borrowing."
The area's strong job growth is attributed to the steady growth of … (10 comments)

equity lines: Brokers Not Responsible for Mortgage Mess? - 12/17/07 07:13 AM
On December 16, 2007, the Tennessee Association of Mortgage Brokers' president, Brian Short, was quoted in The Tennessean as saying "I can't see how mortgage brokers are responsible for the increase in foreclosures." Yet, one of the largest lenders with sales channels in both direct sales and via brokers has stated that over 3/4 of its loans that have entered foreclosure were originated by mortgage brokers and not their direct sales channels, known as mortgage bankers. With such a staggering disparity, how can Mortgage Brokers claim no responsibility?
Mr. Short and the TN Association of Mortgage Brokers will argue that it is … (5 comments)

equity lines: Rate Watch - 12/14/07 08:34 AM
For 12/14/2007...
30 Yr Fixed Conforming - 6%
15 Yr Fixed Conforming - 5.75%
5/1 LIBOR ARM - 6.125%
30 Yr Fixed Jumbo - 6.375%
30 Yr My Community - 6.875%
30 Yr Fixed Interest Only - 6.375%
 
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Kevin Michelson, CMPS, MBA is one of the few mortgage originators in the state of Tennessee to hold the prestigious designation of Certified Mortgage Planning Specialist (CMPS). He is a Home Loan Consultant for Countrywide Home Loans in Brentwood, TN - Countrywide's #1 branch for purchase originations. Additionally, Kevin earned his Masters of Business Administration (MBA) from Nova Southeastern University bringing advanced concepts to his clients' mortgage plans and his referral partners … (0 comments)

equity lines: FHA Changes Coming for Early 2008? - 12/14/07 03:50 AM
With Subprime lending virtually non-existing, expanding FHA will give the mortgage and Real Estate markets a nice shot in the arm.
 
FHA Loan Expansion Heading to a Vote
Washington Post (12/14/07) P. D1; Cho, David
Senate legislation to revamp the Federal Housing Administration mortgage program has finally moved out of committee and is expected to be passed in the next couple of days when it comes up for a full floor vote. The bill would reduce the required down payment on FHA-insured mortgages to 1.5 percent from 3 percent and open the program to pricier housing markets by letting the agency insure … (0 comments)

equity lines: Being a Home Buyer Today is Like Being at a Middle School Dance - 12/11/07 12:32 AM
OK, let's be honest about our Middle School experiences. There probably isn't a time in life were being like everyone else is as important as Middle School - just fitting in is an accomplishment. So when the school dance came around, you probably did what just about everyone else did - stand against the wall on the side of the gymnasium.
But the funny thing is that the very best dance partners were probably out on the dance floor while everyone else was standing on the wall waiting for Mister or Miss Right to ask us to dance. I'm not ashamed to … (1 comments)

equity lines: Rates Too High Part II - 12/05/07 06:05 AM
This one shows the history of rates since 1790. Rates too high? Are you kidding me? Get some perspective...
Provided by Jim McMahan, Mortgage Market Guide
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Kevin Michelson, CMPS, MBA is one of the few mortgage originators in the state of Tennessee to hold the prestigious designation of Certified Mortgage Planning Specialist (CMPS). He is a Home Loan Consultant for Countrywide Home Loans in Brentwood, TN - Countrywide's #1 branch for purchase originations. Additionally, Kevin earned his Masters of Business Administration (MBA) from Nova Southeastern University bringing advanced concepts to his clients' mortgage plans and his referral partners marketing plans. He believes that if he … (2 comments)

equity lines: Rates Are Too High to Buy Now?!?! - 12/05/07 05:56 AM
I recently had a buyer choose to not buy a home because "rates were too high." Certainly an excuse but here's some evidence to fire back at someone if you get the same point of resistence.
Provided by Jim McMahan, Mortgage Market Guide*******************
Kevin Michelson, CMPS, MBA is one of the few mortgage originators in the state of Tennessee to hold the prestigious designation of Certified Mortgage Planning Specialist (CMPS). He is a Home Loan Consultant for Countrywide Home Loans in Brentwood, TN - Countrywide's #1 branch for purchase originations. Additionally, Kevin earned his Masters of Business Administration (MBA) from Nova Southeastern University bringing advanced … (3 comments)

equity lines: Mortgage Language 101 - 12/05/07 05:50 AM
Lenders use various indices to adjust interest rates as economic conditions change over time. Lenders add a certain number of percentage points, called a margin, to the index to establish the interest rate borrowers must pay.LIBORLondon Inter-Bank Offered Rate (LIBOR)
LIBOR is the rate of interest that member banks of the British Bankers' Association charge when they lend money to one another in the wholesale money markets in London, somewhat similar to our Fed Funds Rate. In fact, the LIBOR tends to closely track the US Fed Funds Rate. LIBOR is a standard financial index that is used globally and in US … (2 comments)

equity lines: Planning for Elderly Parents' Care - 12/05/07 03:41 AM
As our parents grow older and their life expectancy rises to previously unseen levels, we are faced with a growing dilemma: how to finance the higher costs associated with assisted living facilities, in-home care and medical expenses without going broke.We all want to care for our loved ones, but we also want to ensure a stable financial future for ourselves and our own families. With this in mind, as a Certified Mortgage Planning Specialist, I am committed, qualified and equipped to help you implement these three proven steps to help you financially care for your elderly parents:Develop an Elder Care Funding … (1 comments)

equity lines: Thinking of Investing In Real Estate? Read this first! - 12/05/07 03:12 AM
Are you a speculator or investor? Great fortunes can be made and lost in real estate. As a Certified Mortgage Planning Specialist, I am committed, qualified and equipped to help you implement the seven keys to profitable real estate investment: Determine Level of Liquidity - liquidity is the ability to quickly convert an investment into cash, without losing any of the principal that you've invested. For example, a savings account is highly liquid. In contrast, real estate is considered to have low liquidity because of the time it takes to sell the property and the unpredictability of the market value at … (0 comments)

equity lines: 20 Terms You Must Know Before You Sign for a Mortgage - 12/05/07 03:07 AM
Buying a home is a major achievement in most everyone's life. Pride of ownership, tax breaks, equity and the ability to increase your wealth and net worth are just a few of the many benefits you'll enjoy with your new home. Your home purchase may also be one of the largest you will ever make.During the emotional excitement of buying a home, you may encounter terms with which you are unfamiliar. For some, it can be a bit embarrassing to ask what they consider too many questions. Others may make a note of their questions but simply forget to revisit them. … (0 comments)

equity lines: Improving Your Credit Rating - 12/05/07 03:04 AM
As a Certified Mortgage Planning Specialist, I am committed, qualified and equipped to help you improve your credit rating. Your credit scores usually determine the price you pay for your money (your mortgages, your auto loans and leases, your credit cards, business loans, etc.).Perhaps the most significant part of your credit report is your credit score. Credit scores range from 350 to 850, with 850 being the best possible credit score that you could receive, and 350 being the worst possible credit score. There are five factors that determine your credit score: Your Payment History - 35% impact on your credit score. … (0 comments)

equity lines: Preparing for Your Children's College Education - 12/05/07 02:41 AM
College costs continue to rise, but a college degree remains an excellent investment. With the proper planning, most families can find a way to afford higher education.You should not try to implement a quick fix to financing a college education. This only results in straddling you or your children with the burden of unnecessary debt. The average senior graduates college with over $19,000 in debt. In fact, nearly 8% of graduating seniors carried student loans of $40,000 or more. This situation often spills over into unwise spending habits and results in throwing you or your children into a downward spiral of … (4 comments)

equity lines: Reducing Debt - 12/05/07 02:37 AM
One commonly overlooked form of "predatory lending" is when banks and mortgage companies repeatedly encourage people to take out larger mortgages and home equity loans for "debt consolidation" or to spend more by basically consuming your home equity. This often results in spreading car loans and credit card balances over 30 years with no real plan to help you become debt free. Unlike many traditional bankers and brokers, Certified Mortgage Planning Specialist professionals help you conserve your home equity, not consume it. This involves helping you implement financial strategies that will get your debt down to manageable levels and help you … (2 comments)

equity lines: Refinancing A Mortgage - 12/05/07 02:34 AM
Here are some tips and strategies that save you money when you are in the market to refinance your home loan. Don't get caught in the trap of consuming your home equity by getting deeper into debt to go on vacation, purchase unnecessary items and spread out your car loans and credit card balances over 30 years. CMPS professionals help you implement viable refinancing strategies to conserve your home equity, build greater wealth and achieve your goals in life.Understand that you may need to pay higher fees or interest rates if you are getting cash out of your home equity vs. … (0 comments)

equity lines: Financing a New Home - 12/05/07 02:28 AM
There are many pitfalls you can avoid when you are in the market to buy a new home. Here are just a few tips and strategies to help you prepare for success: Know your credit score. You may be able to get a better mortgage rate and more favorable loan terms by restructuring some of your balances on credit cards, car loans, etc. Certified Mortgage Planning Specialist professionals help you correct errors on your credit report and determine which balances to restructure or pay off in order to improve your credit score. Know how much you can spend and determine how … (0 comments)

equity lines: The Fed Rate Cut - What it Means for You - 12/05/07 02:22 AM
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equity lines: What is Mortgage Planning? - 12/05/07 02:16 AM
Most American's spend more time planning their vacation then they do planning their mortgage - usually their largest debt. 
While I'm passionate about Mortgage Planning I recognize that it isn't the most thrilling activity for most people. But when we consider the current status of the mortgage market and the huge numbers of foreclosures of home owned by people who had no idea that their mortgage would adjust or they honestly believed that their rate was 1.9%. 
With foreclosures at all time highs, I can't help but think what would have happened if just 5% of those borrowers who have fallen into foreclosure had sat with a mortgage planner and … (3 comments)

 
Kevin Michelson, MBA, Nashville Insurance (Liberty Mutual)

Kevin Michelson

MBA, Nashville Insurance

Nashville, TN

More about me…

Liberty Mutual

Address: 4017 Hillsboro Pike, Ste 406, Nashville, TN

Office: 61546(359) 905-9942

Mobile: (615) 430-9140



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