Aftermath of the Flood
It’s been a few weeks since I have posted anything. I was out of town and returned the day before the rain came and the ensuing flood. It has been a mess but I have seen so many people volunteer and help that it has also been a testament to the people of the State [...]
Qualifying for More than One Home
In the good old days, about two years ago, investors, people who wanted to purchase a second home and those moving from one location to another who could wait to sell their current home could do all sorts of things to help them qualify for the loan. All of which were within the regulations of [...]
New Disclosure Rules You Need to Know
This past month has brought with it more changes to the process from approval to closing that are designed to protect the consumer. Most of it has to do with the timeliness of presenting as accurate a Good Faith Estimate as possible before closing to prevent the buyer from those last minute heart attack moments [...]
Should I get a 15 Yr Mortgage?
Getting a loan for 15 years is a great way to reduce the interest you will pay over the timeframe of your loan. With that said, it is also more cash out of your pocket each month so you will need to make sure you can easily handle the monthly payment. If that is not [...]
Will Rates Continue to Go Down?
The holiday season is always a fun time. You get to go to everybody’s parties and see old friends and catch up with people you haven’t been around in a while. It’s no difference in the mortgage and real estate industry and this last week has been fun. One of the biggest topics of discussion [...]
Why Rates Came Down
A few weeks ago Fannie Mae released its first earnings report since the federal takeover. To say the least, it wasn’t good. The media used words like dismal and gruesome. The reason was Fannie Mae had the largest loss of any U.S. based company this year and yes; this was AFTER the federal takeover. So [...]