Tim Lucas's (timothyalucas) Blog

A Realtor friend of mine asked me what I thought about the government's plans to bail out homeowners by extending mortgage terms, dropping interest rates on an existing mortgage contract, and 'cramming down' loan balances until the payments are affordable.  An opinion I read recently says these a...

I have a loan that's ready for docs and approved by the USDA office, but they are out of funds. My company won't close it without funds being in place. Does anyone have an idea when funds will be available again?

Everyone knows that FHA is hot. But are you utilizing every aspect of it?  Like on Letterman, we'll count down from 10.  The top 10 often-missed facts are: 10. Down payment assistance is still allowed from a relative, employer, non-profit, government organization, or even a friend with a clearly ...

The only 100% loan left besides VA (which has very limited usability) is the USDA rural development loan program. Here are some highlights: →100% financing →No limits on gift or seller contributions. →No mortgage insurance. →Fairly generous income limits.  In Snohomish County, WA, for instance, a...

With all the volotility in the marketplace these days, does anyone have any predictions about where 1st mortgage interest rates will be in 6 months to 1 year? There are so many components to mortgage pricing these days that it seems very difficult to see what's going to happen.  These extra varia...

Hi all you Realtors out there.  I'm compiling a list of the top 10 things that bug you about your current mortgage broker.  Does he/she not answer the phone? Is he/she always late on closing date? Does not communicate enough with you? I'm trying to be a better mortgage broker, and also learn the ...

Hi all you real estate and/or advertising pros out there. Anyone have any creative ideas to advertise my upcoming First Time Homebuyer class? It is at the Redmond Bella Botega Tully's Nov 18 6:30pm, 8860 161st Ave NE. So far I've sent 2 postcards to the same 500 apartment addresses here in Redmon...

The past few weeks, it seems like the only issue that the candidates are talking about is the economy, and taxes, thanks to Joe the Plumber, but mainly the economy.  The economy is a hot button right now, which is why the candidates are exploiting the public's interest.  The Dow is reaching new l...

Monday, October 20, 2008 America is Saving More   Check out http://money.cnn.com/2008/10/15/news/rainy.day.fortune/index.htm?postversion=2008101614It says that America is finally coming to its senses and we're saving a bigger percentage of our income. We've been at less than 1% for a while, and e...