The Relationship between Credit Scores and Mortgages
In the good old days, you would go down and talk to your local banker who has known you and your family for forever and you would let him know where you were working and how much money you made. After he asks you a couple of questions he would tell you to go find [...]
The Difference Bewteen Closing Costs and Pre-Paid Items
Many people contact me and want to know why the closing costs are so high? The reality is the closing costs actually run about 3 to 4 % of the purchase price on homes in the $125,000 range and up. They are higher for less expensive homes because there are fixed costs that make the [...]
Modifying your Home Mortgage
Now that interest rates are on the rise and the economic situation stays somewhat the same, people are having less and less options when trying to reduce their monthly mortgage payment. If you are having a hard time paying your mortgage but have managed not to be late thus far, you can contact your mortgage [...]
5 Things Loan Officers Don’t Do & 5 Things they Do
Most people know what loan officers do; get you a loan for a mortgage, but few know what loan officers don’t do. The following are five things that loan officers do not do that are handled by others. Negotiate contracts Show properties Appraise properties Find Properties Inspect Houses Here are five things that loan officers [...]
Why So Many People Don’t Qualify Right Now
I just talked to a couple of other people in the mortgage business around the country and they are experiencing the same thing lenders are experiencing here in Middle Tennessee; many people no longer qualify for a loan. I have taken refinance questions and applications over the last few months and there are people who [...]
Is This Another Refinance Boom?
All of a sudden the holidays are over and everyone is looking to refinance their homes. It does look like another refinance boom and there are plenty of companies that are soliciting clients through the mail. I’ve had several people call me just this past weekend about letters they have received. Both of these families [...]