Nov 25

Rate Calculator

Rate Calculator vs Payment Calculator I recently searched for an online rate calculator for mortgage interest rates. All of the top results pointed to payment calculators instead of a rate calculator. This seems strange because I use a rate calculator every day. In order to accurately compute a mortgage payment we need an accurate interest …

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Nov 19

Revised the Legal Credit Repair Guide

Very tricky undertaking tonight, worked all weekend trying to figure out how to shrink the size of the Legal Credit Repair Guide and get the hyperlinks to work in a pdf file format.  For some reason the PowerPoint software made the file grow instead of shrinking it like it was supposed to do and all of the …

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Nov 19

Mortgage Rate Watch November 19, 2012

A little late posting this tonight, very busy day! After the post last Friday the market improved towards the end of the day.  This morning it opened off a little then bounced back in the afternoon.  Not enough change in either direction to impact interest rates.  One reason they are not moving is because the …

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Nov 17

Conventional Mortgage Credit Standards Page Added

Conventional Mortgage Underwriting Explaining in plain English how the mortgage industry works continues to be an endless project.  The larger the resource becomes the more there is to explain.  The newest page, Credit Standards for a Conventional Mortgage, made me realize just how big the project has become.  But it is a good exercise, the …

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Nov 16

Lease Option Failures

Three different Realtors called me this week chatting about deals gone south.  Each agent had a story where in a large amount of money was forfeited by the “Buyer.”  The three incidents had combined losses of $60,000!  All of the deals were lease options. Each of the tenant/buyers entered into the lease option because they …

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Nov 16

Mortgage Rate Watch November 16, 2012

No change in mortgage interest rates over Wednesday’s pricing.  The Industrial Production Report was released this morning and the index declined very slightly when the experts were expecting a slight improvement.  I believe the storm has been more of an influence on the markets than the recent financial reports. The last quote I received this …

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Nov 15

Working on Page For Step 5

Just added a page that is going to outline the processing stage of getting a mortgage application approved.  Will be an ongoing project as the mortgage industry changes.  May not be able to work on it tonight, Deb’s birthday so going someplace special.  Here is the link to Step 5  

Nov 14

Rate Watch November 14, 2012

  Bonds Down a Little Rates Up Slightly   Not a big movement, but Mortgage Backed Securities are trading a little lower this morning, down about another 5/32’s. Interest rates are up very slightly, not enough to change the rate.  Lenders look at yield and borrowers look at rate, the yield is only slightly less …

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Nov 13

Legal Credit Repair

Credit Repair or Mortgage Fraud? New page added to the Resource Center that outlines the difference between building a strong credit report and committing mortgage fraud. Here is the link to the page Credit Repair or Mortgage Fraud? A link to the Legal Credit Repair Guide

Nov 08

Update to Buyer Resource Center

Updating the Buyer’s Mortgage Application Resources There have been many changes in the last couple of years in the area of processing a mortgage loan.  It seems the mortgage industry is in a constant state of change. I thought it would be a good idea to start from the beginning and track a few applications …

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