ARCHIVED BLOG POSTS
2013
35
Comments
“Reverse Mortgages Not Good for Everyone” Earlier this week I received a call from a previous client, previous like 20 years ago. Anthony is not 81 years young. He told me that he had been solicited regarding doing a reverse mortgage. He told me that he is always seeing some actor talking about...
11/29/2013
15
Comments
“I Am Seeing More Short Sales being Accepted” Two of my clients have gotten their bids accepted and just got one accepted on a purchase that I am doing as well. Maybe it is just me, but I am seeing more urgency. In all these cases the transactions are all closing by the end of the year. The c...
11/28/2013
40
Comments
“Is This Preapproval Letter Any Good?” I don’t blame any Realtor for following up with a loan officer asking about a preapproval letter, especially when they don’t know the person. I am actually delighted when I get this kind of call, as it shows that the agent is doing their job and is on the ...
11/27/2013
“It is not Worth Me Refinancing to Save $200 Per Month” Sometimes I just don’t understand. I have had discussions with these homeowners for almost a month. They have been paying 6.75% interest only for 8 years and have a balloon payment due in 2 years. They will reduce their rate over 2%, savin...
11/26/2013
65
Comments
“Child Support as Cash” I was doing a preapproval this morning for a client that was referred by her brother. I was most of the way through the process when she mentioned that her ex-husband pays her child support in cash and has been doing it that way for the last couple of years. I asked if...
11/25/2013
23
Comments
“Qualifying Julie for a Mortgage” Divorce, job loss and illness would get the best of most of us. I got a call from Julie this morning who told me she wants to get preapproved for a mortgage. She told me that she had some old credit issues, but all should be good now. I ran the credit which s...
11/24/2013
26
Comments
“Discrimination” In the last week I have had 2 conversations that sounded like “testers”. Race was part of the conversation in one case and sexual orientation in the other, both were mentioned which I found very unusual. Both conversations were rather lengthy and they almost sounded like I was ...
11/23/2013
15
Comments
“Evaluating Risk” As a mortgage broker I have this belief that anyone that wants a mortgage should have every right to be able to obtain one, but not everyone should have a mortgage. A previous short sale, a previous bankruptcy, 6 current collection accounts, 3 late car payments in the last...
11/22/2013
“I Already Paid My Mortgage for 4 Years do I Don’t want to go back to 30 Years” Not a problem, so we did a 26 year mortgage for the client. I don’t blame clients that don’t want to extend the term of their mortgages when they want to refinance. Being a mortgage broker, we can custom fit the...
11/21/2013
“Not All Mortgage Services Firms are Created Equal” I closed a mortgage in August and the first mortgage payment was due Oct. 1st. The mortgage was immediately assigned to Cenlar, which is very common with many lenders. I got a call from the original lender asking me to communicate with my cl...
11/20/2013
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