tampa mortgage: Tampa Bay Mortgage Refinance | Reasons to Refinance Your Mortgage - 03/19/08 02:41 AM
Refinancing your mortgage loan can be a big decision for consumers.  These days it's not just about getting a lower interest rate on your mortgage, there are many reasons to refinance.
Of course, the biggest reason:  Lower your interest rate.  This is one of the main reasons people refinance their mortgage.  You can get a lower monthly payment and that can make a big difference in your monthly budget and the interest you pay over the term of your loan.
Another big reason in today's market:  Get out of your adjustable rate mortgage (ARM).  In the past couple years, many people were put … (5 comments)

tampa mortgage: Tampa Mortgage | Lender Taken 'Em To The Gun Show - 09/07/07 04:56 AM
Troubled credit history, lack of income, no down payment...all reasons this Tampa lender has to flex my muscles.  Oh yes, as this title states, I am dusting off my gloves and taken' em to the gun show!
In today's market, as a loan officer, I have to fight even harder for my customers.  Recently, I had a home buyer referred to me who had a couple issues....mainly lack of sufficient overtime income to qualify for the home he wanted.  So what did I do...I fought.  I made a case for my buyer of why we should be able to include the overtime … (22 comments)

tampa mortgage: Tampa Mortgage Lender Explains...What Is Happening In the Mortgage Market? - 09/07/07 03:48 AM
Everyday I am surrounded with the issues of the current mortgage industry.  From customers wanting explanations to Realtors wondering how this will affect their business.  I took a moment this morning to explain my feelings on what is currently happening in the industry.
Please take a moment and watch this short 2-minute video where I discuss the current mortgage industry and what it means to you, your customers or your friends...
If you are considering purchasing or refinancing your Tampa mortgage, please call or email me for a complimentary consultation.  I am happy to help you make an informed decision about … (13 comments)

tampa mortgage: South Tampa Mortgage | Jumbo Loan Financing Takes a Beating - 09/05/07 08:12 AM
For luxury buyers in South Tampaand throughout Hillsborough County, there is a bigger hurdle for financing the dream home...the Jumbo Mortgage.
If you are not familiar with the term, "Jumbo Mortgage", it is a type of mortgage for individuals looking for a loan over the conforming loan limit.  The conforming loan limit for our area happens to be $417,000.  Hence, a buyer looking to purchase a million dollar home and take out a loan for $700,000 may need a Jumbo Loan.
The roller coaster events in the mortgage industry have caused lenders to take caution with the Jumbo and Super Jumbo loan market, … (12 comments)

tampa mortgage: Tampa Mortgage Refinance | Help for Delinquent Payments - 09/05/07 07:45 AM
Being behind on mortgage payments can provide a huge hurdle for borrowers looking to refinance into a more affordable interest rate.  HUD recently announced a new refinance program available through FHA called "FHASecure".  The refinance program is for borrower who are feeling the effects of a subprime adjustable rate mortgage and have become behind on payments because of the increase in their monthly payment. The ideal candidate for this program is a homeowner who:
 Made all their mortgage payments on time, until the adjustment of their interest rate began and caused a financial stress.  This FHA program is great because it provides flexibility … (12 comments)

tampa mortgage: Tampa VA Mortgage | Loans Like Las Vegas...Cards and Wedding Chapels - 08/15/07 01:38 PM
Tampa veteran home seekers looking for a mortgage often call and ask general questions.  The most recent question came to me over a game of cards.  Let me explain... 
We have very good friends here in South Tampa.  They recently came over for dinner and a friendly game of Euchre.  Over cards, we were discussing our friends upcoming wedding.  They are planning on getting married in October of 2008.  Our friends told us they were also planning to purchase a new home in the upcoming year before the wedding and were asking questions about VA Mortgages, as Jim is a … (28 comments)

tampa mortgage: South Tampa Home Mortgage | Should I Pay Off My Mortgage? - 08/13/07 07:23 AM
In Tampa, Florida home owners and future home buyers have been hearing quite a bit of talk from newspapers, television and the Internet on the "Mortgage Accelerator" programs. Have you heard of them? They can go by the name "mortgage accelerator" or "all-in-one" mortgage. The product is simply a liability manger and offers users a financial tool for homeowners to pay off their mortgage and leverage their own income. I wanted to take a moment to give you more information on this product. There are an increasing number of mortgage companies offering this product and it is important to me that … (17 comments)

tampa mortgage: South Tampa | Home Goes Green ~ Eco-Friendly Pest Control - 08/10/07 08:27 AM
My South Tampa home needs regular pest control.  We live in the heart of Tampa Bay and thus have lots of bugs to contend with.
While researching different pest management options, I found a Eco-friendly solution from a local pest provider, Florida Bug Runners, Inc.  Dave Patrias who owns the Florida based termite and pest control company informed me of a new EcoSMART(r) pest control product.
Many South Tampa homeowners are looking for ways to become more GREEN and implementing eco-friendly pest control is a great way to protect our environment, families and pets.
Dave provided me with some great information about … (25 comments)

tampa mortgage: Tampa Mortgage | Escrow Pitfalls with Property Taxes - 08/02/07 07:52 AM
Tampa Mortgage: Escrow Information for Tampa Consumers
"The mortgage payments on my new Tampa home increased $300 this year!"  This is a common phrase here in the Tampa Bay area.  Many buyers are currently experiencing the pain of an increasing mortgage payment because of an escrow shortage.
Why Does This Happen?
When a mortgage lender calculates your escrow payment, they base the tax escrow on the most recent tax bill.  Let me give you a hypothetical example:
123 AnyStreet, Tampa~
2006 Taxes - $3,219.00 (based on a taxable value of $150,000)
Now, for the mortgage lender to calculate what the escrow payment will be, they take … (40 comments)

tampa mortgage: Tampa Bay Mortgage | A Smooth Homebuying Process - 07/30/07 01:46 PM
Tampa Mortgage:  Finally...the documents have been signed, the income documents have been verified by the lender, the inspections have been completed and your mortgage loan is ready to be finalized.  Breathe easy, right?  For most new homebuyers, now the stress begins.  The commitment of the loan, the uneasy feeling of what is suppose to happen at this "closing" everyone keeps talking about.  What is it all about anyway?
The term "closing" has been used in the real estate industry to signify the final document signing and the finalization of the sales agreement.  Here, the "i's" are dotted and the "t's" are crossed, … (23 comments)

tampa mortgage: I Spent Four Days Without My "BFF" | Confessions of a Tampa Mortgage Blogger - 07/23/07 03:08 PM
First, you may be thinking..."BFF, what is that?".  I am really a sad story.  My BFF, otherwise known as Best Friend Forever, is my laptop and wireless Internet at home.  Can you believe how easily we get caught up in the ease of use of our technology?
I am a serial mortgage blogger.  By this, I mean I sneak into a corner of the house with my laptop and have quiet to get some "important work done"...for me, it is important.  My fiance' insists I am playing on the internet.  He says, "Honey, I know how important blogging is to you...".  So, enough … (33 comments)

tampa mortgage: Tampa Bay Mortgage | Can't We Date Before We Get Married? - 07/15/07 11:22 PM
Tampa Bay, Florida ~ What has happened to the courting process in our mortgage services industry?  I receive at least one call a week from a potential home buyer or home owner looking to refinance in Tampa and these consumers are just interested in "finding out their mortgage options". 
It's okay!  I am happy to discuss options with a consumer without having to pull a credit report or push them into a mortgage with me.
Many times, consumers are just looking to discuss their options with a professional.  And they have every right to do so!  I believe that our industry has … (33 comments)

tampa mortgage: Tampa Mortgage Refinancing | Does It Have To Be So Complicated? - 07/13/07 10:11 AM
Homeowners in Tampa, Florida and across the U.S. hear the option of "refinancing" their mortgage on a daily basis.  On T.V, in the mail, from friends...but what does it really mean?  As a local mortgage expert, I will break down the three main mortgage refinancing options.  (There are hundreds of loan programs that fall under each category.  Contact your local mortgage professional to find out what options are available for you.)
Option #1 - Rate and Term Refinance
With a rate and term mortgage refinance, you will reduce your rate or your term and possibly reduce your monthly payment. With this option, you … (34 comments)

tampa mortgage: Mortgage Solutions for Divorced or Separated Individuals | Keeping the House - 07/09/07 02:00 PM
In Hillsborough County and Tampa, Florida, many separated and divorced individuals are forced with the dilemma of how to keep the current home during settlement negotiations.
Keeping the Home Without An Existing Mortgage:
A quit-claim deed only transfers ownership of the property, which is the easiest way to transfer title from one spouse to another.  This is an ideal solution for individuals who do not have a current mortgage on their home. 
A quit-claim deed can be prepared by an attorney or divorce mediator and is recorded with the local register of deeds.
Keeping the Home with An Existing Mortgage:
The only way to rid … (36 comments)

tampa mortgage: ARM Nightmare: A Real Life Story - 06/14/07 11:38 PM
I want to share a story with you.  It fits in perfectly with the current market and the outrageous number of homeowners who are facing the reality of adjusting mortgage rates and increasing payment.
Back in May 2005, I had a customer referred to me by another customer.  He was a first time homebuyer and going through the mortgage process for the first time.  We sat down together and discussed mortgage financing and what type of mortgage would be the best fit for his situation.  I set up a mortgage option for him offering him a 30-year fixed mortgage at 6.125%.  It … (20 comments)

tampa mortgage: Prepayment Penalties: Important Information for Buyers and Sellers - 06/12/07 01:30 PM
Some mortgage notes contain a prepayment clause. What is it? This s a clause in the mortgage that requires that the borrower pay a prepayment penalty against the unearned portion of the interest for any payment made ahead of schedule.
Lenders are forward thinkers. When a lender writes a loan, if they think the borrower will likely pay the loan off early, there is a heavy chance there could be a prepayment penalty on the loan.
In the past couple years, during the hot subprime market craze, we have seen many subprime lenders putting a prepayment penalty on their loans. For example a … (17 comments)

tampa mortgage: VA Loans: Should I Use My Eligibility? - 06/04/07 12:32 PM
You are relocating to MacDill Air Force Base in Tampa are are looking at housing.  The biggest mortgage question you may have is:  Should I use my VA eligibility for a new loan?
Here are a couple questions to consider:
1.  Are you looking for a zero down mortgage or are you planning on a down payment?
VA loans are offered up to 100% financing with no PMI!  Yes, this is why for borrowers who are not contributing a large down payment, the numbers may work out better with VA funding.
2.  What is your credit score?
VA underwriting is a bit more flexible than standard conventional … (26 comments)

tampa mortgage: Don't Buy More House Than You Can Afford - 05/28/07 04:41 AM
Today I logged onto my computer and was caught by a pop-up advertising a $350,000 mortgage for $999 a month.  WOW!  Normally, I shake my head and close them out.  Or, when I see the advertisements on T.V., I change the channel.  I had a reality check the other day when my finance' commented in response to one of these low payment commercials.  He said, chucklin, "Honey, we should call them!"...of course he was joking, but I realized that most consumers don't know what we in the business know. 
In our local Tampa Bay market, we have high home prices and … (11 comments)

tampa mortgage: Down Payment Assistance Programs - 04/19/07 09:58 AM
Over the past couple years, homebuyers have been able to take advantage of Down Payment Assistance Programs, such as AmeriDream, Neighborhood Gold and many others. 
How do they work?  For example: a homebuyer is purchasing a home in Tampa for $200,000.  As a first time buyer, they didn't already have established credit scores, so their lender was able to qualify them for an FHA Government Loan.  However, this loan requires a 3% down payment, which our Tampa buyers don't have to put down on their new home.  With the down payment assistance program, the seller could "gift"the 3% down payment plus an administration … (21 comments)

tampa mortgage: South Tampa | Mortgage Accelerator (Home Ownership Accelerator) - 04/03/07 10:25 AM
Tampa, Florida - Home Ownership Accelerator is the new mortgage of choice for many home buyers looking for creative home financing options!  Have you heard of this mortgage product...The Home Ownership Accelerator?  This is a revolutionary home finance product sweeping our mortgage industry.  I am starting to see more lenders, REALTORS, and consumers in Tampa, St. Petersburg and Clearwater asking about the product.  As your Tampa Mortgage Source, I am going to give you all the information I know on it, in as much summary as possible.
I do have a disclaimer...I am a conventional loan gal, I love a 30-year or 15-year … (14 comments)


Leah Ross

Tampa, Florida Mortgage

Tampa, FL

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Your Tampa Bay Mortgage Source

Address: 3111 W. Dr Martin Luther King Blvd, Suite 100, Tampa, FL, 33607

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