Jim Simms - The Mortgage Hub

Rate Calculator

Jim Simms — Mon, 26 Nov 2012 00:32:57 +0000

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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Revised the Legal Credit Repair Guide

Jim Simms — Tue, 20 Nov 2012 02:53:42 +0000

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 …

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Mortgage Rate Watch November 19, 2012

Jim Simms — Tue, 20 Nov 2012 02:35:17 +0000

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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Conventional Mortgage Credit Standards Page Added

Jim Simms — Sat, 17 Nov 2012 20:33:12 +0000

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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Lease Option Failures

Jim Simms — Sat, 17 Nov 2012 04:04:25 +0000

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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