Randall Schrader's (superbroker007) Blog

By
Mortgage and Lending - Competitive Insurance of Dundee
RECENT BLOG POSTS
Everywhere is going to be better for some.  Unfortunately, if unemployment continues to rise, it will force more foreclosures.  No job, no mortgage payment, right?  If foreclosures continue, the pressure on home values has to continue downward.  I am optimistic, but logical too.  I think there ar...
02/10/2009
FHA has no problem insuring single wide manufactured homes.  The problem is that the FHA lenders, as of the writing of this blog, will not touch them.  Even with the FHA insurance, the lenders won't touch them.  Very few non-FHA lenders will touch them either.  My list of single wide lenders is d...
02/10/2009
I just heard a touching story of a recently widowed lady who was left with next to nothing.  A home paid in full and a pile of bills and funeral expenses.  Since she intended to live in the home from here on, the answer was simple.  She applied for a home equity - reverse mortgage. She caught eve...
01/10/2009
The husband passes away suddenly.  The funeral expenses are mounting.  There is not enough money to keep up with the mortgage. Why not apply for a reverse mortgage?  A senior can receive a lump sum to pay off the existing mortgage, pay the back bills and NO monthly mortgage payment is ever paid! ...
01/06/2009
0 Comments
I can't say 2008 was a bad year.  It challenged me a bit and seemed to eliminate all of my direct competitors.  But a larger piece of a smaller pie doesn't add up to a banner year unfortunately.  Many, if not every lender I send my loans to has tightened up their guidelines in one way or another ...
12/31/2008
I've done tons of home loans for First Time Home Buyers and have done most of them with very little money out-of-pocket from the buyers.  It's important to understand that even with 100% financing, which is difficult to structure these days, there are still closing costs, pre-paids and reserves t...
12/31/2008
I've done tons of home loans for First Time Home Buyers and have done most of them with very little money out-of-pocket from the buyers.  It's important to understand that even with 100% financing, which is difficult to structure these days, there are still closing costs, pre-paids and reserves t...
12/29/2008
1 Comments
As predicted, a new wave of highly qualified borrowers are calling to refinance their mortgages at the new low interest rates.  Life is good for a well seasoned mortgage broker these days.  Will the rates hold for a while longer?  I sure wouldn't bet on it.  My recommendation would be to look int...
12/26/2008
HUD, in June of 1976, began regulating how manufactured homes would be built.  Previously, it was every manufacturer for themselves and some homes were great and some, not so much. All post 6/1976 homes have minimum wind speed restrictions and several other requirements.  Through the years, and e...
12/26/2008
Today we begin shopping for the kids!  Days before Chrismas and not a gift has been secured.  Hey, I've been very busy! I have a great idea of what I want to buy and should be able to knock the whole thing out in an afternoon.  The retailers are making things simple by building a mall right up th...
12/20/2008
Rainmaker
76,424

Randall Schrader

local_phone(863) 438-9290
Contact The Author