low rates: The difference between being Pre-qualified and being Pre-APPROVED - 03/05/13 01:15 AM
A recent article in Forbes magazine entitled “Why Getting Pre-Approved For A Mortgage Is A Sham” was lamenting the uselessness of home buyers obtaining a pre-approval letter from a mortgage lender prior to shopping for a home.   Here is a short excerpt from the article that summaizs the author's concerns. “The fact is that mortgage pre-approvals are not what everybody wants them to be. They are not ironclad, they are not processed and reviewed by underwriting people and they are not subject only to an appraisal, even though most of them say that. They are however part of almost every … (0 comments)

low rates: Refinance to 15 Years - 09/09/10 06:38 AM
Many homeowners are deciding to take advantage of super low rates  and refinancing their current mortgage for 15-years. It's not for everyone since refinancing to a shorter term typically means making higher monthly payments. But for many people like the benefits come down to crunching the numbers and doing the math.
For one client, the shorter mortgage meant paying $500 more each month than the their 30-year-mortgage, but saving over $120,000 in interest payments. The extra payments are ok with them if they live within their means and aren't living extravagantly.
We are sensing a growing interest among some of their clients to focus … (1 comments)