Before the crash, it used to be easy. You called a loan officer, told them what you made and what you owed and BAM! they sent you a pre-qualification letter.
Then came the CRASH and the huge losses when values plunged and people could not afford the homes they purchased. They could not sell for enough $$ to pay off the mortgage companies [...]
One of the things I can always count on when talking with someone about real estate and financing it they will always ask me, What do you think is going to happen with interest rates? and What are the current interest [...]
Why do we recommend that you use a local mortgage company when buying a home in Coastal Delaware? This month we had several settlements in which our Buyer clients had decided to obtain a mortgage from one of the big banks or mortgage companies. In one case, the clients had maintained a relationship with that BIG BANK for years and felt he [...]
In Delaware, the Buyer chooses the settlement attorney and the attorney represents the Buyer, not the Seller. If the Seller wishes to retain their own counsel, they may do so, but you should not give up your right to representation by your own [...]
We get this question often, so I thought I would provide some current information to all of our readers.
The answer is Absolutely you can get a mortgage. How large a mortgage will depend on your retirement income and other expenses, but you can still get a mortgage when you are [...]
Have you ever wondered where all those bank offers and solicitations come from? I once made the mistake of responding to an online offer to refinance my mortgage and reduce your mortgage payment. Normally, I ignore them, but this one time it appeared to be legit. That one mistake resulted in phone calls and mailings that pestered us for [...]
One of the biggest reasons homeowners refinance their mortgage is to obtain a lower interest rate and lower monthly payments. By refinancing, the borrower pays off their existing mortgage and replaces it with a new one. This can often be accomplished with a no-points no-fees loan program, which [...]
Are you tired of all of the unsolicited credit card, insurance and mortgage offers in the mail? It seems like half the mail is magazines and junk and the other half is offers of credit. If you would like to stop these unwanted solicitations, I have a solution for you. Visit [...]
Everyone keeps talking about how hard it is to get a mortgage with todays tighter lending standards. Many people actually disqualify themselves without even talking to a mortgage professional! But with both money and houses on sale, now is a really great time to buy. In fact, 8 of 10 homeowners would say now is a great time to buy a [...]
"As of September 1, 2011 appraisals will change drastically. We now must complete appraisals in what is defined as UAD or Uniform Appraisal Dataset format. This is a GSE Fannie, Freddie requirement." I saw this blog just this morning posted by Bobbie Smith, a Realtor up in the Poconos. An appraiser in her area, Mary Thompson, was giving her [...]
