Buying a home is the single largest purchase most folks will make in their life time – yet many go into it blind. In my previous career of a mortgage loan officer I saw this more times than I would like to admit. Here is the 2nd of six biggest mistakes homebuyers make according toRead More
Buying a home is the single largest purchase most folks will make in their life time – yet many go into it blind. In my previous career of a mortgage loan officer I saw this more times than I would like to admit. Here is the first of six biggest mistakes homebuyers make according toRead More
Fears were not realized after the FED ended its purchasing of Mortgage Securities the end of March. According to NC REALTORS Talk April 1st: The Federal Reserve’s single largest intervention to prop up the American economy, its $1.25 trillion program to buy mortgage-backed securities, came to a long-anticipated end March 31, 2010. The program hasRead More
The National Association of REALTORS produced this video explaining the different aspects of the new Good Faith Estimate & HUD-1 statement that went into effect January 1, 2010. Click here to see the new forms from a previous post.
In researching to find answers to questions how the expanded Move-UP/Repeat Home Buyer Tax Credit works, I came across this lengthy piece that answers a lot of the ins and outs of how it works and who is eligible from the National Association of Home Builders. It really does give a complete run down onRead More
According to an article from RSMEDIA December 28, 2009, there are signs of improvement from a year ago. Some indications: Retail sales rose 1.3% in November 2009, prompting some to suggest consumers were ready to spend in earnest this holiday season Americans’ net worth—the value of assets such as homes, bank accounts and investments, minusRead More
Beginning 01-01-2010 HUD requires lenders and mortgage brokers to give a borrower a standard Good Faith Estimate. From 1974, few changes have been made on the process borrowers use to buy & refinance homes. HUD’s reform will improve disclosure of the key loan terms and closing costs consumers pay when they buy or refinance theirRead More
In this age of instant information – instant gratification – data overload – we at times forget the humanity behind the written word. So I would like to say a simple THANK YOU for following my Blogs. It’s nice to know what interests me also interests some of you. I enjoy connecting with great folksRead More
An article from the NY Times was emailed to me from a friend entitled “Fair Game – The Mortgage Machine Backfires” talking about a court decision in Kansas. Knowing my background in Mortgage banking, he thought I would find the article interesting. He was right – now the question I pose – how many ofRead More