Real estate blog entries tagged with pennsylvania mortgages by Jason Sardi, Your Agent for Life (Auto & Home & Life Insurance throughout North Carolina)

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pennsylvania mortgages: So how long is my Pre-Approval Good for? - 10/24/09 12:22 PM

Easy answer, 60 days. But I guess that depends on what kind of Pre-Approval you received or want for that matter. Actually, the answer to such a question depends upon three factors:
- You, as the consumer.
- The Buyer's Agent who is helping you find a home.
- And the quality of the Pre-Approval you receive in the first place.
Ten Seconds, GO - You're interested in buying a home. You even find a few that tickle your family bone. But you need financing because you probably don't have the cash to buy it outright. Which leads to...
Nine Seconds - You're … (19 comments)

pennsylvania mortgages: But The FHA Guidelines Say So!?! - 08/08/09 05:44 AM

To spout off that we live in an interesting atmosphere in the mortgage lending business is akin to the genius next door proclaiming professional wrestling isn't real. Yet, I shouldn't even get started on the latter. And the former is quite diplomatic in the use of the word "interesting" rather than downright perplexing.
Let's take for example the title of this post. I get inquiries daily from Realtors, folks reading posts here on AR, fellow tenants in the building we rent, William Shattner, and former clients about the difference in what is said that can be done and what is actually … (18 comments)

pennsylvania mortgages: Philosophy ain't so bad, even when dealing with "Business". - 07/03/09 07:33 AM

Times are present so we can remember them and maybe even learn from them. When there is no longer time, well, that's another discussion in of itself.
While I don't mean to be the master of the obvious over here, being in the lending industry isn't easy these days. The irony of all that, at least from my vantage point, is that I didn't make a significant mint when times were easy. But I'm still around. I'm either stubborn or stupid, perhaps both. Or maybe, just maybe, I belong here.
One client reminded me of that.
I no longer have their … (18 comments)

pennsylvania mortgages: Who Wants A "Free" Loan? - 04/15/09 09:56 AM

If you answered with a resounding "YES" to that question, you aren't alone. I can't think of many sane individuals who don't want the best deal possible, and when the word "free" is mentioned... people tend to flock in interest like the George Foreman family to a Bobby Flay BBQ. While it seems the path of least resistance, to jump at what appears to be the least (or no) amount of money for a service rendered or product delivered... it most times ends up the path of greatest disappointment.
Such is life...
Back in some of my more naive years, I … (31 comments)

pennsylvania mortgages: Consumer Quickies: Five Things You Need To Know About The Mortgage Market Right Now! - 03/20/09 12:05 PM

If you are going to boogie, learn to dance.
As many of you know, the Mortgage Market is changing faster than Tom Welling's Superman character into his "get-up" in the television show, Smallville. It's truly a jungle out there and you'll need a Machete, Cargo Field Pants, and the proper Guide to navigate you through the ever growing foliage. As a guide in the jungle that is the Mortgage Industry, I wanted to give some simple bits of information to arm you on your journey.
In no particular order, please take note of the following as they may be pertinent along your travels:
As … (29 comments)

pennsylvania mortgages: 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)

pennsylvania mortgages: So how are the 'Nonprime' Mortgages fairing across our nation? - 10/31/08 07:50 AM

There is an interesting website that many of you may not be familiar with: Federal Reserve of New York, that I will share briefly.
'Nonprime' Mortgages, lovingly referred to more often these days as 'Subprime' Mortgages have long been the scapegoat as the catalyst for what is going on in the Real Estate Industry. Now, in this humble author's opinion, to lay a bulk of blame on Subprime Mortgages is a shortcut to thinking. I think the scope of the problem was and is well above these particular products.
So, for you statistical junkies out there, you could have a lot of fun with … (48 comments)

pennsylvania mortgages: Consumer Quick Tips: Your Credit Doesn't Have To Be 'Crunched' - 10/22/08 07:38 AM

In a world where good credit seems to be more and more vital, every tip and piece of knowledge you can muster can be huge to your financial health. I read the other day that only 8% of the entire wealth of the world is ever printed as physical cash. The rest seems to exist on a computer hard drive, in electronic bank accounts around the world. That leaves 92% of the wealth existing in some sort of credit. Without good credit, you don't have access to this wealth and it could hinder your ability to prosper and make finances one less worry in the life of you or … (32 comments)

pennsylvania mortgages: Is there a Statute of Limitations on Debt? - 10/11/08 01:26 PM

I'm of the firm belief that if you borrow money, you should pay it back. Sure, life circumstances occur and you may not be able to do so anytime soon... yet fair is fair. If I am given money from you, I should eventually pay it back to you. That is the right thing to do.
Yet, the loopholes are many. If I had to do it all over again... and I just might, I would passionately study law. I haven't been able to verify what I'm about to write (which is why I would make a bad attorney on paper), … (61 comments)

pennsylvania mortgages: Too tired for now, but I will get this right. - 10/09/08 02:41 PM

It was about 5:48 PM when I got out of this evening's closing. I arrived at 4:00 PM. It's my second of the month and boy do I have some bar water cooler stories for anyone interested. Before I go further, I should mention that each respective client at each respective closing did their due diligence in making sure no question they had was left unanswered. Kudos to you both! On one hand we have a first time home buyer. On the other, was a first time Real Estate Investor. I'll get to that in a moment though...
I found out that … (19 comments)

pennsylvania mortgages: Your right to privacy (Or Not) - 09/23/08 03:16 PM

*This is some interesting stuff, you must register by tomorrow. Read on...*
Our friends over at one of the three major Credit Reporting Agencies (TransUnion) ran into a bit of trouble recently. It has been alleged that TransUnion improperly sold consumers' personal data. That could mean that your information was sold to various companies who could then overview your information and solicit you for such things as Mortgage Loans, Credit Card Offers, heck... credit of any kind. If you applied for credit in the past twenty years or so, this could apply to you. If you pay for everything via cash or … (51 comments)

pennsylvania mortgages: Want your Mortgage Loan to close fast, here's a few tips. - 08/19/08 09:07 AM

How fast your loan closes is often up to you.I tell folks two things these days and both can result in great opportunity. There is an abundance of inventory (houses) in most markets and the money (interest rates) is still cheap. That said, Lenders & Banks are combing through files with a fine toothed comb these days; everything has to be pretty much perfect. No more of the days of throwing things against the wall, lax & scattered documentation, or loan files that are missing this or that or that other thing they are asking for, other than that blood sample;-)So, … (28 comments)

pennsylvania mortgages: A couple of years ago... - 08/16/08 12:42 PM

... I made a mortgage loan to the brother of a guy I knew in passing. The brother was in a bind of sorts, though he had a ton of equity, never payed his mortgage late once in his existent, yet worked at a Pizza Shop. He couldn't quite prove all of his income. Ya know, the under the table stuff Uncle Sam likes to peek at? He had a choice in programs, I actually agreed with his decision. (Of note, his decision didn't make me any more or any less money on that transaction.) He'd take a lower rate (that would change two years … (41 comments)

pennsylvania mortgages: Waiting for the Calm.... - 08/02/08 08:23 AM

Under much scrutiny and acute observation, the Mortgage Industry faces times that our economy is currently ill-prepared for. It has for some time. I recall stating six months ago in a post, that around this time we'd be feeling the brunt of the burden being lifted off our shoulders. I was wrong. See, guys really can admit when they are wrong:-)
Ride out the storm, just don't stop.
There is good news and bad, I'll start with the latter:
- You are going to need money to buy a home. Sorry, that's the fact of the matter. Now, folks will say that current … (12 comments)

pennsylvania mortgages: I couldn't think of an appropriate title. - 07/27/08 11:22 AM

A strange phone call came across my airwaves recently, a guy from the city of Brotherly Love was on the other line.
"Hello, is this Jason Sardi?"
"To my knowledge, yes."
"Hi Jason, this is Darren _______ and I came across you over the internet."
~Thinking to myself, "Great, I hope he didn't come across that roast of Belonger that I churned out."~
"Hey Darren, how can I help you?"
"I'm losing my house."
Silence. It wasn't the four words that he said, it's how he said them. Even more, I knew I could do little to help him, at least … (87 comments)

pennsylvania mortgages: It's not a bad time to buy a home ... seriously. - 07/26/08 01:27 PM

First Time Homebuyers!We have answers to your home loan questions. Before you start hitting the streets looking for your first home, allow us to help you get pre-approved and make sure you understand the home loan process. How much home can I afford? Many experts suggest that your monthly payment not exceed 30% of your total income. Ask me to pre-qualify you for a loan amount that works best for you. I work off the Sleep Principle, regardless of what you can afford in a Lender's eyes, I want to make sure you can go to bed at night and sleep … (18 comments)

pennsylvania mortgages: Not just another 'Option' - 07/08/08 05:52 AM

Pennsylvania Mortgages of All KindsLocation: Allentown, PaAre you * In an Adjustable Rate Mortgage?* Looking to buy your first Home?* A Real Estate Investor who needs Hard Money for your Rehab Projects?* Looking for a Small Business Loan?* Interested in Refinancing to get Cash-Out or Consolidate High Interest Debt?Then you may want to consider giving me a call so I can guide you in the right direction to fulfill your Mortgage Needs.OUR FIRM:First Choice Equity Group Inc. is a full service mortgage broker licensed throughout the state of Pennsylvania that offers our clients an extensive product menu including conventional, commercial, second … (22 comments)

pennsylvania mortgages: Ask The Loan Officer: Don't Be Mortgage Poor! - 06/30/08 05:24 PM

Ironically, today was the first time I had the pleasure of speaking with Lenn Harley. Being the end of the month, it was a hectic day and I really wasn't sure if I could meet the contest deadline. So, I scrambled to get my entry in last minute. I hope this will give prospective buyers, wherever they are located, a bit of insight they may not have already had.
I'll get to what I feel is one of the more attractive options I can offer folks from my end. I would also advise that folks talk to a reputable FHA Approved … (34 comments)

pennsylvania mortgages: How in the heck am I going to finance that? - 03/12/08 08:48 AM

One of the very first loans I ever closed was on a Manufactured Home. I'll never forget that customer. He was a former applicant from somebody who had left our firm and I was calling to follow-up with him. Thus began a 30 minute tirade on his part that left my ears ringing louder than the phones around me. He used more explicatives than a George Carlin rant. What was his major gripe? It was simple. NOBODY would help him refinance his property. His rate was in the double digits, yet his credit, equity position, job & housing history....along with his … (28 comments)

pennsylvania mortgages: 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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