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Jul31
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Have you ever seen so much paperwork? Well, I would say I have when I joined the military. As a matter of fact, that is what it felt like when we prepared to buy our first home. The mounds and mounds of paperwork that you get and have to read is unbelievable. But guess what? It was well worth going through all of the paperwork and understanding what was happening. U.S. Bank has automated its mortgage workflow with Wolters Kluwer. If they can reduce the inefficiencies, that puts them that much more ahead of the game. Will it become a paperless environment or will some paper still remain?
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Jul31
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A house will be raffled off next month as a result of someone being left homeless by Hurricane Katrina. Oh what a gift this is going to be for someone. The raffle is part of a free-hurricane recovery expo the...
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Do those two words put a little fear in you? Or does it make you think what possibly could she be talking about shaky foundation. In our neighborhood, a lot of times the house are sold before the foundations are...
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Once again here is an innovative idea to let employees know that ensure their quality of life. Here is a hospital that has aimed at keeping workers with housing help. When you are a person that gives so much to...
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Government agencies and private lenders are offering homeowners energy loans. I understand utilities are increasing on a regular basis but I am not sure about a home energy loan. They are designed as long-term, low-interest mortgage and loans aimed at...
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Wait a minute! You cannot be everything to everybody. If you are a car manufacturer, I believe you should stick with the manufacturing of cars. BMW is going to shift gears for home-loan market. BMW has decided to branch out...
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With all the different cases that I have read lately regarding mortgage fraud, is there the chance that some fall through the cracks. It does happen that sometimes they fall through the cracks. I read this article about this mortgage...
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When I think of a 50-year mortgage, I think of having a bill that could potentially out live me. It’s almost as if you make a payment and that payment goes into the air without the payments reducing. However, some...
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With all of the increasing prices of housing and clever techniques of acquiring a mortgage, paying the high price of mortgages are being delayed. There are new adjustable rate mortgages that keep monthly payments low in the beginning and eventually...
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How many times have you heard you can invest in real estate and make big money? I have heard that all too often to know that everything people are saying is not true. You must do you homework when you...
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Maybe you just graduated from college and have decided to go into the mortgage industry. Where do you look for employment, do you search the want ads? What is your first step? One of the first things I would recommend...
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Hard money lenders are private individuals and small local companies that operate. They essentially make loans to the desperate and the needy same as banks and brokers that help traditional customers. For example, if you have been to everyone that...
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Jul29
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I would not have even thought there was such an item. I imagined that if you needed an additional loan, you went have gone to your original lender. Primarily because you already have history with the lender and they would...
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Have you ever considered an online mortgage lender? Whew there are a lot of them out there. Let’s see which ones are the most reputable. Lending Tree – www.lendingtree.com E-Loan – www.eloan.com Home Loan Center – www.homeloancenter.com...
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I had not ever heard of this term. So I had to look it up and see what this was about. A remortgage is changing your mortgage without changing your home. You switch to another lender for a better rate...
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1) National Mortgage Broker Magazine – I imagine everything you could want to know about being a mortgage broker is in this magazine. This would prove to be an invaluable resource if you are a mortgage broker. http://www.nationalmortgagebroker.com 2) Inside...
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As far as I can remember, I have always heard about the American Dream. The American Dream is home ownership, yet not easy to obtain for a large population. The U.S. House of Representatives passed the Expanding American Home Act...
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Lead generation was the “hot topic” at the Internet Marketing Summit on July 26 held by Real Estate Connect. More and more people are discovering new ways to market their business and/or service on the internet. The same holds true...
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Do not make these mistakes when applying for a mortgage: 1) Not knowing how much money you can put down. Before applying for a mortgage you should have taken the time to thoroughly review your financial situation. 2) Know...
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I firmly believe in this. If you continue to read the newspapers or watch the news there are always stories about foreclosures in the paper. I tend to believe that part of that is because people are not receiving the...
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Before you decide to purchase a house, you must know that it is not hard to get a house. What is important is maintaining that home for a life time. Every body wants to attain the “American Dream” and some...
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The Parade of Homes kicks off this weekend in Colorado . I cannot recall the last time I went to the Parade of Homes. My husband tends to try and go every year. I believe if I was a realtor...
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If you are interested in becoming a mortgage broker, you need to know all the details. As much as I have been reading about mortgage brokers, mortgage fraud you do not want to be ill-prepared to be a mortgage broker....
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Believe me when I tell you predatory loans are still prevalent today. They are usually targeted towards lower-income individuals with credit problems. I tell you if I was having credit problems and someone offered me a loan, I would have...
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Atlas Mortgage Services was featured in Entrepreneur magazine’s hot 100 companies of the year in 2006. His company came in at number 71 on the list and was the only mortgage brokerage in the western in the top 100. Well...
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Here is a tool that could set you apart as a mortgage broker if you are progressing with technology. dCifer is a web-based marketplace that connects mortgage brokers with lenders, vendors and customers. Also offers its members FREE consumer leads...
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Congratulations to Realty Executives who just announced the national launch of “Homeworks”. Kudos you have done your homework. Teachers need housing as well as everybody else. “Homeworks” is a marketing initiative piloted in Phoenix to help make teachers more aware...
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Jul28
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I could not believe when I read this caption “State Trooper on Probation for Mortgage Scheme.” Now I ask you, what does the state trooper have to do with the mortgage scheme? Forgive me but isn’t the state trooper or...
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The following are some beginning questions to ask the mortgage broker before hiring them to work on your behalf: Can you get references? How long have they been a mortgage broker? How are you compensated? Do they do rate locks?...
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Acceleration clause – this is a provision in the mortgage that allows the lender the right to demand payment of the entire principal balance if a payment is missed. Amortization – the gradual repayment of a mortgage loan by...
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I could not believe when I read that a broker was forging credit scores. According to an article I read the broker altered borrower applications. Is anyone in the business doing things by the book? There seems to be more...
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The article stated that this mortgage executive, Janet Skinner was fined $5,000 and received five years probation for taking $400,000 in kickbacks. Now I would think as a mortgage executive she was making enough money without having to do this. What...
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This group is headed towards a personal best. The investment property team of Mary Sullivan, Ron Urgitus, and Tim Swan could sell 1 billion in sales in Denver this year. I applaud them for teamwork and going for their goal. It...
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I read a story in our local paper that apartment rental is at its lowest level since 2001. I guess I can believe that since everywhere I look there are more homes being built. As soon as a development is...
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Consumer Advocate Harj Gill has released a financial software program that is essentially designed to tell you what month you would lose your home and family would go into default as interest rates rise and cash flow becomes insufficient to...
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Rhode Island has a new law designed to protect borrowers. The Home Loan Protection Act was signed into law. This protects borrowers from mortgage practices that are considered abusive to the homeowner. Predatory lending has become a real big...
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I ask you how many times in one week have you received various mortgage offers? How do these people even get your email address? It makes me wonder if there was some point in time that I completed something online...
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How many times have you experienced or heard that when you sell your house is you use the traditional real estate broker they get a six percent commission? You do have to be very careful that if you use a...
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Oh, upon reading an article titled “Why Mortgage Life Insurance is Not a Good Idea” I have experienced what they are talking about. Whether you have experienced this first-hand or not, get ready. When you buy a home, the information...
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Self Storage Investing. Wait a minute. Qstart Guide today announced the release of QuickStart Self Storage. This provides real estate professionals with an educational tool for investment decision making. Storage space is big business. Every time I look around there...
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These are some companies that provide mortgage insurance: Priority Insurance – protect your family’s home in case of death. www.priorityinsurancequote.com Mortgage Insurance – Receive Free Quote www.mortgageprotection.com Mortgage Insurance – free insurance quotes from top firms in the...
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Stop the press. Fannie Mae and FEMA settle Katrina housing argument. According to an article I read, these two agencies have settled a dispute that will put fifteen hundred Katrina families into rent free homes. That does not even begin...
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Georgia Indiana Colorado Michigan Texas Ohio Tennessee South Carolina North Carolina Utah Supposedly Tennessee is rapidly moving up the mortgage foreclosure list. I was surprised that Colorado was not number one on the list considering it has been number...
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A new home could equal a new beginning if you are prepared. When you are renting and you decide to purchase a home, you begin saving like you never have before. Bills are being paid off old and new. You...
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The first thing that comes to my mind when I heard zero down mortgage was it will take a while to get some equity and you start out with private mortgage insurance also known as PMI. PMI alone can add...
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A reverse mortgage is a loan against your home that you do not have to pay back as long as you live there. To be eligible you must be 62 years of age and own your home. Here is the...
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Regions Bank is moving its mortgage banking headquarters operations to Birmingham, Alabama and in return will eliminate 100 jobs in Memphis . What happens to those workers? Will they get severance pay, offered the chance to transfer or start all...
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Today the mortgage rates came down after a two year high earlier this week which means the economy is cooling down. The average rate on 30-year fixed rate loans dropped to 6.72 for the week ending July 27th when last...
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Jul27
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Is there anything better than a new tool that helps with mortgage leads? House Values, Inc. and Leads360, LLC announced an agreement that will provide House Values’ mortgage clients with a first-of-its kind, customized and fully-integrated lead management system to...
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Monique Thomas, a ten year real estate veteran and eight year mortgage professional has developed the “Buyout Note.” What is a “Buyout Note” you might ask? It is an instrument that allows a person who shares equity in real property...
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Now that the housing market is cooling down, there is less of a demand for mortgage applications. With the increasing gas costs and employment situation, I would hope that people are learning to manage with what they have and not...
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We keep hearing stories on our news how new home construction and building permits have declined. I remember hearing that MDC Holdings Inc, reported a second quarter profit slump 25 percent. I mainly remembered them because their corporate office is...
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Everyone has heard the saying “first impressions can make or break you.” Well how does this apply in real estate. My husband was doing photography for realtors for about three years and he talked about “curb appeal.” Meaning someone’s first...
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If you watched national news or read the newspapers right now, there is a ton of stories regarding the housing market. Have you wondered where are the overpriced home and are there many of them? According to an article I...
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Why does this not surprise me that the priciest homes of the year are in California. That also means that the homes are appreciating. Are the appreciations going to slow down at some point? Maybe not. What has happened here...
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Several groups collided before a House subcommittee earlier this week. It appears that some of the brokers feel as if the real estate business model is ridiculous. Well, there’s a strong word. It seems as if there is no standard...
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Wait a minute! Today I read, the chairman, Regina Lowrie of the national Mortgage Bankers Association has sold her stake in Gateway Funding Diversified Mortgage Co. to one of her partners. I do not know about you but this makes...
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When I read the story about people still getting more bathrooms and bigger kitchens, it honestly amazed me. With everything that is going on with the housing market, how can anyone think of getting more and more space. We have...
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Jul26
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There are several newsletters for the mortgage industry: 1) Newsletters for Mortgage Bankers - http://www.mortgagenewslettersonly.com/ 2) Mortgage Marketing Newsletters - http://www.loansiteplus.com/mortgage-marketing-newsletters.html 3) Monthly Mortgage Newsletters - http://www.domymarketing.com/html/monthly_newsletters.html 4) Mortgage Mag - http://www.mortgagemag.com/mo1110.htm 5) Wayout Mortgage Marketing - http://www.wayoutmarketing.com/Mortgage_Marketing_Newsletter.shtml 6) ...
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What is a balloon payment? Is this an option for you? A balloon payment is a large lump sum payment made at a specific interval usually at the end of a long-term balloon loan. I am only familiar with being...
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Everywhere I look I see For Sale Signs. Some signs have been up for longer than six months, some even a year. I cannot count the number of times I have seen a moving truck show up in the middle...
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There is a benefit to a bi-weekly mortgage if it is done properly. Furthermore, you must do it yourself. You can send in payments and request that the lender apply each payment immediately to your principal not once they receive...
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This is going to be the first of three seminars discussing a paperless environment. With all the paper that is generated when doing a mortgage, this should be a very beneficial and worthwhile series. For more information about the seminar...
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I remember when my mom bought our house and we had one person we dealt with all the time year after year. Those days have changed where you stick with the same lender. The time has come where your mortgage...
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Commonly referred to as A.R.M. means is that the interest rate changes based on the predetermined index. I personally do not see an advantage to securing a mortgage utilizing an A.R.M. When I was in the military, I saw first-hand people...
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"Current News" "Mortgage Brokers" "Home Equity"
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As I was researching the top lenders, I had already found out that Countrywide was on the list. The list is as follows: Bank of America Countrywide Financial Corporation Golden West Financial Corporation National City Corporation Sun Trust Banks,...
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I was speaking at a seminar in late May that was focused on real estate. This lady asked the question what is the difference between a mortgage banker and a mortgage broker. I understand she primarily asked the question because...
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Jul25
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Everyone has heard about identity theft. Maybe what you do not know is that when your identity is stolen, it can take years to clear up all of the transactions that are not yours. If someone gets your identity, this...
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That’s right ladies and gentleman, once again foreclosure rears its ugly head. This time in Massachusetts in the second quarter, foreclosure filings rose 66%. That is a lot of filings. When the market slows down, then it is almost as...
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Wells Fargo has added a 40-year fixed rate mortgage to their products. They say that you have lower mortgage payments. Before you do a 40-year mortgage look at the overall picture of how much interest this will cost you. You...
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Have you ever thought about rating your mortgage lender? If you had a temporary situation that arose on your job and you were not able to pay your mortgage, do you think you could have a conversation with your mortgage...
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People are lured into signing papers everyday thinking they are going to receive a reverse mortgage. People often targeted are those with medical bills, cannot make their payment when the adjustable rate mortgage kicks in and senior citizens. I remember...
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Hold on to your seats mortgage brokers, FreedomVoice has just unveiled a marketing library just for you. There appears to be a lot of bells and whistles to equip you and educate you in your profession. I do believe that...
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"Current News" "Mortgages" "Lenders" "Mortgage" "Mortgage Rates"
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What is happening with the housing market? I read an article in one our local papers and was surprised by what I read. The article was titled “HUD settles kickback case.” Essentially what happened was the builders and lenders were...
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Was I shocked to see Fort Collins, Colorado as number one on Money Magazine 2006 Best Places to live list. I have been to Fort Collins , granted it is a college town but I view it as a small...
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As soon as I saw the article on CNNMoney.com regarding e-mortgages, the first thought that came to my mind was what is happening when we cannot deal with a real or live person I should say. I remember when we...
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Jul23
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The following is a list of some of the mortgage associations: Mortgage Bankers Association – national association representing the real estate finance industry. They help their members do their business. Website: http://www.mbaa.org/ National Home Equity Mortgage Association – only trade association...
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ARM – stands for Adjustable Rate Mortgage which is a mortgage whose interest rate is adjusted periodically based on a preselected index. A.P.R. – annual percentage rate (which you also see on credit card applications). This is the interest rate...
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1) Lower payments 2) Extra money for home improvements 3) If you have concern about raising interest rates It seems as is every six to eight weeks we get contacted by our lender, thanking us for our business. They proceed...
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I recently read an article titled "State by State Mortgage Decline." The article shared about state mortgage declines. What I was most interested in was the hig |