lehigh valley: Behold, the Rate/Term Refinance!
- 01/09/09 03:11 PM
Cash-flow is a foreign term to many folks these days. The ability to spend, save, collect and consume aren't where we are used to being. In fact, I would venture to say a whole lot of people have one mindset in their mind... save money.
There's one issue I have with that. What some folks are doing, or rather thinking, is that they should save money in the short-term... and reap wealth when the "economy" and "housing industry" comes back. Let me tell you something about short-term, it seems to translate to those very results as well.
*I should warn you; … (25 comments)
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lehigh valley: Momma Told Me, Be Careful Shopping for a Mortgage
- 12/10/08 05:09 AM
This post was originally written in May of 2008 but I thought it was not a bad idea to re-post it now. Amidst the talk of rock-bottom rates, there will be a lot of folks out there shopping for a mortgage. So, from the synapses of my brain to your eyes... here's my recommendations when shopping for a mortgage:
I'm well aware that most of us fancy ourselves smart shoppers. Whether we are buying a car, groceries, looking for the next Gas Station, sorting through bids on our next Home Improvement Estimate, shopping cell phone carriers...etc... we want the best deal. We want it cheap … (22 comments)
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lehigh valley: It's Free, It's Fun, It's Your Credit Report?
- 11/23/08 05:59 PM
To say your credit history & score is HUGE these days may be a borderline understatement! For purposes of my experience, I'll concentrate on how credit relates to getting a mortgage to buy a home or trying to refinance the one you currently own.
Talking about credit is about as much fun as chewing broken glass while watching Yanni's latest video on VH1, at least to most. Even for the most severe masochists or staunchest Yanni advocators, it's probably not a subject full of brim excitement.
So, I'll try to make this concise and simple. Educating yourself and working with professionals who … (101 comments)
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lehigh valley: Those Niche Loans You Rarely Hear About!
- 11/04/08 04:56 AM
There is the 'norm' and 'not so norm' in lending. Most folks know about refinancing, at least the general aspects of it. Perhaps you want to consolidate debt, shorten your term, lower your rate, turn equity into cash, or some other reason. You probably (whether you are a homeowner or not) have heard about refinancing before. You do a quick search, you'll be able to find a boat load of information on refinancing and a Mortgage Professional who can help you out.
Then there are loans to buy a home (maybe even for the first-time) or purchase an investment property. Those … (25 comments)
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lehigh valley: Bail Out My A$$... or Do It Yourself.
- 07/18/08 02:55 PM
Two tears rolled from my eyes, they touched my chin and moved on. I hate tears. While they can make one more impassioned, more alert, more astute, they can also lead one into thinking way too much about the subject at hand.
I got an email just recently, one through Active-Rain, a person I respect so freaking much. I'd post it here, but can't. It was private.
There is a lot going on in the Real Estate Community. It isn't easy these days, if you did and do it right, it probably was never easy. That's Real Estate.
People are scared, afraid, … (40 comments)
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lehigh valley: I'm calling for a Sitcom... based upon Mortgage Lending!
- 07/12/08 01:33 PM
*Warning* - This is a long one...
It's later than I expected, but my desire for this has been long coming. I title my particular blog, "The Insider's Insights on Mortgages" but I have yet to express to folks the workings behind that often foggy door of Lending. Shame on me, for that. I may actually spend some time on this post for once, if I do it right... I think it will be important.
The title of this post is, I admit, a tad misleading. While I think it could become a hot ratings sell, I don't necessarily foresee … (61 comments)
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lehigh valley: The more you talk, the less I'm 'Sold'
- 05/03/08 05:53 AM
There's a certain humility in money. If you have it, you count on people accepting it to get what you want. If you are trying to make it, you count on people 'buying' whatever it is you are doing. If you are alone in the woods with more money than you can imagine ever having, it does you no good. Money only matters because of us....we are surrounded by others seeking the same fortune and comfort. Once I understood this, money still mattered to me. It just mattered a whole bunch less than the humanity that I knew was irreplaceable.
When I … (48 comments)
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lehigh valley: Getting Back To Rehab...
- 04/24/08 07:57 AM
In this ever-changing Market, Niche Products are not immune to changes, sometimes overnight. While this certainly doesn't define the term 'Ideal' ... it is the reality in which we live. I wanted to take some time to update our Rehab Loans, which are an excellent Financing Source for new and seasoned investors alike. In Pennsylvania, areas such as Philadelphia, Harrisburg, & Wilkes Barre are just a few ripe places where you can find good deals on properties that are great fits for this product.
So, here are some Frequently Asked Questions about Rehab Loans here in Pennsylvania:
What is a Rehab Loan?
A Rehab … (32 comments)
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lehigh valley: Loosening The Purse Strings, A Rare Product These Days For Investors!
- 04/11/08 07:32 AM
This post will hopefully prove to be helpful information on two fronts. First, this is really good news for Real Estate Investors who for whatever reason have a hard time documenting their income. Second, I'm going to throw a bone out to other Mortgage Folks out there as to a Niche Investor that can place some loans that you may have a difficult time in placing.
This is a reminder that I am still doing Stated Income on Investment Properties. There is no seasoning requirements for this product. This will come in especially handy for folks who have been buying properties with cash … (22 comments)
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lehigh valley: Hey Small Business Owner....We've Got Your Back!
- 04/02/08 09:48 AM
Here's a little FYI on the SBA so if you have any questions call me A.S.A.P:-)
Welcome to a brief insight about SBA Lending, through the eyes of my investors. The Small Business Administration helps individuals purchase or grow small businesses which can help the growth of communities and revamp the local economy. We all know that we could sure use a bit more of that going round. I was excited when we partnered up awhile back with our Investors to be able to provide this service to our past, present, & future clients. Plus, it's a good thing to be able to help the growth of local … (20 comments)
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lehigh valley: Putting Some Spice Back Into No-Seasoning....
- 03/25/08 08:43 AM
Here I've been, waiting patiently for the purse strings to loosen up just a bit here and there to better serve different situations and circumstances for Homeowners we serve throughout Pennsylvania. While I hope it never gets as ridiculous as it once was, there have been many products whose existence has turned into crusty fossils. Some of those products actually made sense, the kind that doesn't seem too common anymore. I keep tabs on all the Investors & Lenders & Banks I deal with, passing on information that may be helpful to anyone I know and those that they know. Minutes ago, … (38 comments)
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lehigh valley: Taking a Bite out of the Credit Crunch!
- 03/20/08 02:24 AM
I didn't go to College for Economics. In retrospect, perhaps I should of. I didn't go to College for Political Science. In hindsight, perhaps I should of. Instead, I graduated with a major in Psychology & minor in Philosophy. Something in me wanted to spend the rest of my life on top of a mountain handing out Prozac like it was candy at a Parade.
FED RATE CUTS ARE NOT GOING TO SOLVE THE CREDIT CRUNCH!
That's my opinion at least. I could be wrong, mislead, irrational, off-base, & off of my proverbial rocker. But I could be right. Time … (105 comments)
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lehigh valley: One more thought before I retire to my dreams...
- 03/04/08 08:38 PM
If you are reading, clicking here may actually make it easier to do so....
While I awoke startled, dazzled by dreams I had only thoughts of dreaming before....something came to my mind. The cold sweat of consciousness had beaded my garments like the wet rain of a softly woven spring eve. Ok, am I being a tad bit dramatic with my wording? You bet I am! I think I have a point amongst words that may go above & beyond the 5th grade reading level we are accustom to responding too and reading. When dealing with and reading about Real Estate, Mortgages are about as fun to … (48 comments)
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lehigh valley: Rent To Own or How you can still buy a home with no money out of pocket!
- 02/28/08 07:46 AM
***First Off, let me preface this by making something perfectly clear. No matter what program or product you are getting into to buy a home, I highly recommend making sure you have money (reserves) in the bank after your loan closes. Call it 'rainy day' money or whatever you want, you don't want to be financially strapped if something goes wrong. Ownership has its privileges and responsibilities.***
That being said, there are only two ways I know of to get into a home with no money out of your pocket these days. One is a VA loan, a loan for those who … (24 comments)
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lehigh valley: All ARMS Are Not Broken!
- 02/20/08 01:47 AM
There have been mixed reviews about Adjustable Rate Mortgages throughout the Real Estate Industry, our beloved Media, & the General Public as a whole. Personally, I stand by the credence that they are a very good product & tool for some people. Just because Neighbor Bob, who is being transferred to Western Pennsylvania to head up the Academic Advisory Role at Penn State has an adjustable rate, doesn't mean that it's right for you and your particular financial situation. In celebration of keeping it simple, I won't go into a breakdown in which cases that an Adjustable Rate may make more sense than a Fixed Rate, or vice-versa. … (51 comments)
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lehigh valley: The Fear Of Success....
- 10/09/07 01:32 PM
I've got to admit, it sounds stupid. Not the quote from Peta Wilson, but the title of this post. I mean, come on, who on God's Green Earth would fear success...when most strive for its very existence? There is a laundry list actually.....actors, musicians, professional athletes, professional wrestlers, and your neighbor down the street who was keen on 'Being The Man' but uncomfortable with the concept of 'Staying The Man.' If you want to succeed in life, you've got to fail by being yourself. And to you women out there, I only used the term 'Man' loosely....I should of just used the term … (67 comments)
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lehigh valley: Honesty Is The ONLY Policy!
- 09/13/07 03:43 PM
Ironically, I had a conversation with a client with whom I closed a loan for about 10 months ago that led to this post. The irony is that Jo-Anne Smith proposed that I write something about honesty and the mortgage business. If you believe in the popular press...The Media, honesty and mortgage people go together about as well together as Peanut Butter & Tomato Sandwiches if you aren't pregnant. But there is some semblance of truth in it all, I hate that. Today, I made a phone call that belittled what I do for a living. I am a Mortgage Broker in … (43 comments)
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lehigh valley: My Favorite Hang-out is Stahley's....
- 06/29/07 03:33 PM
For those that don't know my routine, if I'm missing at some point, I'll tell you where to find me. More than likely it will be at Stahley's right down the road. Heck, I live next door to their grandmother. To the Stahley Family, at this point, I'm probably considered a part of their family. I visit there quite often, I often joke that I should have Stock Options in the place. Seriously though, where are my Stock Options:-)?
It is my personal hang-out, not my family's. They live in Raleigh, NC and even if they lived here, they wouldn't like it as much … (30 comments)
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lehigh valley: The Active-Rain Hall of Fame.....Pre-Mature Of Course
- 06/12/07 09:38 AM
First let me preface what follows with a few tidbits. Numero Uno, not sure if this idea has been laid out, if it has...it hasn't been to my knowledge or recollection. Number two, to keep it short & sweet, I limited myself to ten individuals and none could be the actual AR Founders. Lastly, of course, this list is bias to the individuals I've been exposed too and my actual take on what they have provided on this forum.
No Particular Order..................
1) Jeff Turner - This guy is innovative in my eyes. He has pungent hints of technological genius and you can see that bleed on … (68 comments)
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lehigh valley: Update on Wall Street West
- 12/14/06 07:53 AM
"Allentown, PA, the financial capitol of the free world." Hmmmmm........maybe I won't hold my breath! That was one of the comments made by a fellow Rainer when I made mention of the plan to have the financial instituitions in New York City backed up in nearby (but not too close) Northeastern Pennsylvania. First off, I had made no mention of Allentown specifically, rather the Lehigh Valley here in Pennsylvania that was a part of this plan. And by no means is my now beloved hometown of Allentown, Pa (which I daringly refer to at times as the armpit of the East Coast) … (7 comments)
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Cash-flow is a foreign term to many folks these days. The ability to spend, save, collect and consume aren't where we are used to being. In fact, I would venture to say a whole lot of people have one mindset in their mind... save money.
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