mortgage: What's Ahead For Northwest Indiana Mortgage Rates This Week: January 19, 2010 - 01/19/10 11:00 PM
<!-- This material is non-exclusively licensed to Larry Penilla and may not be copied, reproduced, or sold in any form whatsoever.--> Mortgage markets showed little conviction last week, carving out just a narrow trading channel. There was very little data on which for markets to move, leaving mortgage rates momentum-bound.
Luckily for rate shoppers, mortgage rate momentum was favorable. Rates were slightly lower Monday through Thursday before breaking downward Friday afternoon. Home shoppers this past weekend caught a nice break.
Last week marked the second straight week in which mortgage rates fell.
This week, in holiday-shortened trading and with little economic … (0 comments)

mortgage: Retail Sales Dropped In December And Now So Are Mortgage Rates - 01/14/10 03:35 AM
<!-- This material is non-exclusively licensed to Larry Penilla and may not be copied, reproduced, or sold in any form whatsoever.-->

Mortgage rates are dropping this morning on weaker-than-expected Retail Sales data from December. Lower rates means more bang for your home-buying buck.
Excluding motor vehicles and parts, December's "ex-auto" sales receipts were down roughly $500 million from November. Analysts had expected receipts to grow.
The relevance of Retail Sales to home affordability isn't obvious, but it's definitely logical.
Retail Sales is directly related to consumer spending and consumer spending accounts for the majority of the U.S. economy. When … (0 comments)

mortgage: Attention Realtors and Home Owners: The Real Estate Market is NOT as Bad as Advertised! - 04/09/08 07:33 AM
Attention: Realtors and Home Owners:
The Real Estate Market is NOT as Bad as Advertised!

I read some sobering statistics recently that you might want to share with your clients. You know how statistics are. I once read a study that said that 51.4% of statistics were made up :)!

That said, I recently read that 50% of all homes in the USA have a mortgage – half are owned free and clear. 20% of all homes in the USA are investor owned and are currently rented. .05% of all the homes that have a mortgage are in foreclosure. … (7 comments)

mortgage: Washington Mutual Closes Loan Centers - 04/08/08 06:25 AM
Washington Mutual Closes Loan Centers

Some of you may have heard recently that Washington Mutual was exiting the wholesale lending business. According to the Wall Street Journal today, the rumors have been confirmed. Washington Mutual is reportedly closing all 186 of its stand-alone home loan centers and laying off 3,000 employees. According to Bloomberg, "Washington Mutual will stop making loans through mortgage brokers and...focus on its 2,500 bank and small business lending offices."

I remember a year or two ago they surprised us with an announcement that they were exiting the Coorespondant lending business. In an email from WAMU … (3 comments)

mortgage: YOU Magazine - An Online Magazine Devoted to Your Favorite Subject - 04/06/08 08:10 AM
Subscribe to YOU Magazine and other timely market alerts from Larry Penilla. … (0 comments)

mortgage: Attention: Parents - Protect Your Children...Know Your Neighbors - 04/03/08 09:44 AM
Attention: Parents
Protect Your Children - Know Your Neighbors
This site was developed by John Walsh from Americas Most Wanted. You may want to see how close these people live to your home or school and spread the word. Some may even want to show their children these pictures.
When you visit this site you can enter your address and a map will pop up with your house as a small icon of a house. There will be red, blue and green dots surrounding your entire neighborhood. When you click on these dots a picture of a criminal will appear with … (2 comments)

mortgage: The Best Damn First Time Home Buyer Program in Indiana!!! - 03/17/08 03:02 PM

Dyer, IN - That's correct! If you have never owned a home and thought you needed a large down payment then think again! Not only may you be eligible for a Now 5.125%!!! interest rate, but you may not even have to have a down payment! Imagine, owning your very own home. This is the American dream and now it's available to more people than ever before!  
Just see what others just like you have said:   "My husband and I were looking to buy our first home and needed help with the process. They explained every step along the way and were ready to … (2 comments)

mortgage: Unbelievable!!! - 03/13/08 04:04 PM
I guess it's becoming a common practice. An investor client of mine said there's a website that claims to help homeowners who are "upside down" on their homes to just walk away and abandon their obligation/commitment/ repay the money they've borrowed to buy their home. I haven't seen this as a common attitude in my area yet. Unfortunately, word will spread and I'm afraid it will be more common place before too long. Am I just naive? Is this attitude and occurance widespread? … (4 comments)

mortgage: New FHA Mortgage Limits For Most of Northwest Indiana!!! - 03/07/08 09:15 AM
New FHA Mortgage Limits For Most of Northwest Indiana!!!
With as little as Zero down (with approved down payment assistance programs e.g. Ameridream, Nehemiah, CHAPA, etc.) the new FHA Limits will allow you to sell more homes that have typically been out of reach for some first time homebuyers and some move-up buyers. Please, call (219) 865-0505 x305 or (800) 278-6819 x305 for more information.

Larry Penilla 219-865-0505 x305 800-278-6819


mortgage: “How to Find a Good Realtor?” - 03/06/08 10:17 AM
“How to Find a Good Realtor?”
In order to establish mutually beneficial Realtor/Lender relationships and better serve Real Estate agents...
If you’d be so kind, I’m looking for your expert advice. Please, answer one or more of these questions. The answers will be shared for the benefit of other Lenders -- inevitably Realtors too.
Realtors are "targetted" by lenders all the time. Some approaches are standard:
"Hi, my name is John from We’re the Best Mortgage Company, and we have the best rates for your clients, the best service, and fast turn around. Here's my card. Just call me when you got a buyer. … (7 comments)

mortgage: FHA, VA, & 97% Conventional Home Loans in Northwest Indiana Now @ 5.125%! - 02/19/08 03:34 AM

FHA, VA, & 97% Conventional Home Loans in Northwest Indiana Still @ 5.125%! The best in government backed mortgages provided for you by a local loan officer with 21 years and thousands of Real Estate transactions experience Northwest Indiana. Don't be duped into a Sub Prime loan or novice loan officer. Call a pro to save time and money.
This is strictly a First Time Home Buyer program for Northwest Indiana homebuyers. Some unscrupulous lenders use this program strictly to bait and switch homebuyers into more profitable loan programs. Most lenders do not participate in this program because it's extra work … (1 comments)

A&M Mortgage Group:  Larry Penilla, Northwest Indiana Mortgages - Home Loans (A&M Mortgage Group)

A&M Mortgage Group: Larry Penilla

Northwest Indiana Mortgages - Home Loans

Merrillville, IN

More about me…

A&M Mortgage Group

Address: 8585 Broadway Suite 600, Merrillville, IN, 46410

Office: 219-794-0600 x241

Mobile: (219) 765-1630

Email Me

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