mortgages: Did you know...Banks are moving away from Pre-approvals. Why? - 11/22/13 04:03 AM

 
 
It has been said that offers to purchase are stronger if you have a Pre-approval. Pre-Qualifications are weaker because it is based on conversations only with the buyer. But what if you have a Pre-approval and you find out it was only based on a conversation not verified information?
I just received a call from a Realtor that had received a Pre-approval from a bank, wrote the offer, got it accepted to find out it was only based on a verbal conversation and they did not qualifiy. Beware and you may want to check it out first. Buyer's don't understand the … (0 comments)

mortgages: Are you saving money or are you just throwing it down the drain? - 02/01/12 08:33 AM
  
 The first Part of being pre-approved for a future mortgage is making sure your
 credit is the best it can be when you get pre-approved. It just makes sense that
 if you have higher credit scores, you will pay a lower interest rate on your
mortgage loan and will have to put less down. Checkout the Fair Isaac's
consumer website athttp://www.myfico.com. There is a mortgage payment
calculator that is updated constantly to show you how your FICO score can
affect interest rates. Check it out and save money today. You can save
thousands of dollars over the course of 30 years.
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mortgages: Purchasing today? Tips before you make your choice! - 01/12/12 01:38 AM
 
 
Many people ask how they can purchase a home without using all of their savings in today's market. Michael Cauley a Certified Mortgage Planner, explains the options you have as well as all the benefits that the FHA loan has to offer today and in the future.
Assumable mortgages in the years to come will set the stage to make homes on the market very attractive. This interview explains the advantages of selecting the proper financing for your purchase today.
Great advice for everyone purchasing. Listen to this interview.  http://preview.tinyurl.com/7ayzlnk
Natalie DeLeo
 
(1 comments)

mortgages: Some banks are now creating their own guideline to the 90 Day Flipping Wavier. Beware if you have one. - 03/19/10 06:55 AM
We have just seen a change that some of the banks are enforcing.
The FHA flipping rule that went into affect on 2/1/2010 states that if a seller lists and sells a house before 90 days of him purchasing the property and he sells it for over 20% of the seller's acquisition cost. The bank will require 2 appraisals as well as an inspection of the property. We just complete one and it did go well.
However, be aware that some banks starting Monday 3/22/2010 will not accept a purchase agreement with a sales price of more than 20% of … (1 comments)

mortgages: Great News! New HUD ruling will help your investors. Read on.... - 01/19/10 11:05 AM
 
On January 15th HUD announced the wavier of the 91 day rule. The 91 day rule will take a rest for about 1 year now. Feb. 1, 2010 to Feb. 1 2011. Great news is that those investors that have their heart it improving properties and selling to those people that want to move right into a home do not have to wait to sign a PA on day 91. This means that the houses don't have to sit. Sooner sales then later are always better. Here are the stipulations:
 Here are the 6 things you need to know about these changes:
Waiver takes … (0 comments)

mortgages: How to build a Referral Business. Here's a tip to help you get started. - 09/19/09 06:40 AM
I would like to share with you one of the tips on building a referral business, from my chapter,"The 30 Day Total Business Makeover."
Then I asked my clients to introduce me to this person.  First, I'd ask them if they would make the initial call to introduce me. They always say, "Sure I will." I would make the warm call to the perspective referral partner. The client calling first made my call easy then.
 I'd like to share an important tip-- when I called and asked my client if they knew an insurance agent that they trusted and would refer to their … (1 comments)

mortgages: Denied credit? Yes me too. Thursday the 20th is the day that ....... - 08/19/09 06:41 AM

Banks have to give you a 45 day notice of interest changes or credit limits cut. So for the last few days banks have been pulling surprises of all of us.

Boy it is very embarassing when my husband and I went into a store to make a purchase. My husband thought that we could rack up a few points for a future car rebate. And guess what, we were denied the purchase.
Perfect credit but the credit company reduced without telling us the limit from 17,000 to 2,000. My husband looked at me like did you pay the bills? I … (3 comments)

mortgages: Believe it and it is yours!!!! - 03/04/08 04:12 AM
If you believe in yourself, you can make it happen. That's all you need is the confidence to believe the you have the knowledge and no how to make a difference. Butof course the willingness to follow through on whatever needs to be done on your part is crucial.
If we do not take it upon ourselves to open all the doors of opportunities that are put before us, we will miss them. Just think if we miss it, it could have been that one answer to a clients question, that one program that is now no longer there for the client, or if we … (3 comments)

mortgages: Make Your Credit Scores the Best ! 5 Key Ways to Improve Your Credit Scores - 02/17/08 02:48 AM
5 KEY FACTORS TO CREDIT SCORING & HOW YOU CAN AVOID PAYING MORE FOR YOUR LOAN  
The model of credit scoring seeks the likelihood or the consumer being able to pay off a debt in a timely manner. Score range from 300 to 900. Most consumers have credit scores ranging from 400 to 850. The higher the score the better your credit rating is. Therefore, the higher the score the low the interest rate. The can save the consumer hundreds of dollars over the length of the loan they are taking out. Most people have a credit score average of 680 and … (2 comments)

mortgages: 3 promises I have made to my client's and strategic partners - 12/10/07 02:13 PM
 
I am promising to tackle every challenge for my client's best interest at heart. Communication and keeping everyone on the same page throughout the transaction of purchasing a home is key.
I am promising to support my client's and their business with 120% effort. I will broaden their horizons and spread the news about them to all I meet.
I promising to my business partners that I am with them all the way and we will find every solution we can to any challenges that we face. A referral to me is a thank you for supporting your client and a referral from … (1 comments)

mortgages: Are you frustrated making calls after calls trying to generate leads? Are you frustrated with trying to keep up with the everyday challenges and changes in real estate and mortgage industry? - 12/10/07 07:16 AM
Does your business require hours of calls and hundreds of mailings just find your prosepects? Why?
It's all about who to I do that you need to know and who do you know that I need too know? Find the right people that have the same passion about being focused and compassionate about our profession.
I understand the challenges that Realtors are facing with fielding questions from sellers and buyers. You are wondering if they are coming from right field or left field. I hear you. The challenges before us are just that. We have to accept change, embrace change and find … (0 comments)

 
Natalie De Leo, Former Realtor now Mortgage Consultants (Mortgage Resource Plus)

Natalie De Leo

Former Realtor now Mortgage Consultants

Southfield, MI

More about me…

Mortgage Resource Plus

Address: 29201 Telegraph Rd, Suite 611, Southfield , MI, 48034

Office: 248-642-4600 Ext 110

Fax: 248-642-6160

Email Me

A place to share your day's challenges & your success stories. Business partners coming together to work on building trusted relationships. Finding the solutions to the everyday changes of the real estate and mortgage industries.


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