refinancing: Somebody had a question; my synapses answered.
- 03/08/09 04:55 PM
At the time, it was indistinguishable as a moment I would recognize down the line. After being down the line, I knew exactly what that moment meant.
Some of the questions that we get asked as folks working in the Real Estate Industry seem rudimentary... at least to us.
"Should I refinance" is a question I get often. Personally, I'd love to answer with a resounding, "YES!" each and every time. But I can't. It's just not the way it works. For eight years now, I've heard a bunch of folks answer that question in different markets, with different motives, with different companies... and … (55 comments)
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refinancing: The Rate/Waiting Game
- 01/15/09 07:08 AM
Consumers, aren't we all? If you own a home or are thinking about buying one, you just may be familiar with one of the battles going on right now. That battle involves interest rates. "Spoiled are we, yes we are," I say in my best Yoda voice.
In a world where some houses have stagnated or plain tanked in value, the same world where credit extended to folks in a position of uniqueness may have been stopped, we live in an economic atmosphere where some consider lower interest rates a part of the cure. (Between me and you and please … (29 comments)
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refinancing: 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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refinancing: 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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refinancing: 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)
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refinancing: 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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refinancing: Some Quips & Tips About Adjustable Rates!
- 06/04/08 07:57 AM
In some avenues of our Media and even the Real Estate Industry, Adjustable Rate Mortgages (ARMs) aren't the most popular guest at the dinner party. Yet for different situations, ARMs are often a better alternative to fixed rate mortgages, offering more options and more flexibility.
Some time back, a bunch of Mortgage Professionals here on Active Rain participated in a contest in which the question posed was, "Which is better, A Fixed Rate or an Adjustable Rate." I had cited a term I had learned awhile back called the Sleep Principle. Simply put, whatever program you decide is best for … (51 comments)
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refinancing: Before you List your Home, you may want to take a peek at this...
- 05/10/08 06:42 AM
There's one thing about change that seems constant, frustration. For Mr. & Mrs. Homeowner, it can be downright mind boggling with all the changes that have occurred and probably will continue to happen in the Mortgage Financing Market. It's hard to keep up and the only saving grace to be had is that of clear & present education, as it happens. I was inspired to write this post because of some folks that called me looking to refinance their existing mortgage. I haven't saw this topic written about much at all and think it has to be addressed. The following is their situation...
… (35 comments)
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refinancing: 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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refinancing: The Market Is Alive & Well, So Don't Die On Me.....
- 10/11/07 04:04 AM
There have been several questions posed by former clients, current clients, and perhaps future clients as to what the heck is going on in the Real Estate Industry. I'll try to outline a few of those right 'freaking' now! It should be pointed out once again that our beloved Media should be taken with a grain of salt. I firmly believe they've earned it. Listening & Reading the Media is like trying to shoot pool with a rope, I'll rant about them another time though. Here goes some questions that have come my way.....
Is 100% Financing Still Available? - You are … (86 comments)
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refinancing: At The End Of The Day....Do Mortgage Brokers Really Matter?
- 07/01/07 06:16 AM
If you know me or have read my little profile here, you probably know that my answer is a biased, "YES!" Regardless, if you feel inclined, read on dear friends...
I'm a sucker for doing stuff that tends to be controversial in nature. The part of that which intrigues me is that sometimes I go into it without that intention ever being involved.
I write this now when it should of been written then, but again I was reminded in a phone call I received earlier today. I'll preface this with the fact that to me, Respect Means The World. So, if you want … (28 comments)
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refinancing: I want the lowest rate and no fees, what can you do for me?
- 06/18/07 05:32 PM
Well, I have this great stretch of land for sale over yonder that you can turn-around and sell for extreme profits. Speaking of which, I have this great e-book that you can download for $5.95 and it will pave the path to riches beyond your wildest dreams. Or, we can just deal with reality.
I'm not sure about others here, but I'm darn sure about myself. I don't work for a Non-Profit Organization, I don't have that luxury. In fact, we strive to actually profit off of the services we provide and time we put in at my respective firm. Yeah, I know, crazy … (60 comments)
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refinancing: I Just Called...To Say...Oh My Gosh Jason, What am I to do?
- 03/03/07 08:44 AM
Every once in awhile in this industry, I am amazed at the marketing efforts put forth by companies I see all over the board. I try like heck to make sure I always take notice of mail, television, radio, flyers, etc, all designed to induce customers not only to refinance, but to do it with that particular firm. Some are ingenious, some creatively misleading, some tacky and downright lame, and some are downright unethical. I got a call from a client just the other day who bought their home almost two years ago. Because of a sketchy job history, beat up credit … (8 comments)
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refinancing: A Little FAQ FYI & For Your Mortgage Financing Needs, Call ASAP!
- 01/07/07 03:46 PM
Frequently Asked Questions … (1 comments)
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refinancing: Who Holds Your Best Interests Mr. Consumer?
- 01/07/07 01:50 PM
In the age of internet shopping, competition seems as tough as ever, if not totally skewed. Competitive business practices typically allow the consumer to get a better product, yet with so many options & firms biding for your business....who can you trust? The internet savvy big-name mortgage marketing ggurus have flooded emails, pop-ups, banner, & search engines with promises of a mortgage loan that is akin to an euphoria Leonardo DiCaprio too expected to encounter and live amongst in the movie "The Beach." Sales, like life, is a complex and interesting endeavor and euphoria rarely rears its idealistic head. … (3 comments)
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At the time, it was indistinguishable as a moment I would recognize down the line. After being down the line, I knew exactly what that moment meant.
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