So You Think You Might Need a Mortgage? August 1, 2007
The mortgage industry is facing historic times with the tightening of underwriting guidelines, programs disappearing and lenders not able to fund loans and/or closing shop. The subprime meltdown is spilling into the prime mortgage markets. Here is what you need to do if you’re considering buying a house and you’re not paying cash for your [...]
Joe Buyer and the Lending Treehouse of Horrors: Part 2 July 9, 2007
Last week, I began telling you the tale of Joe Buyer who found his low interest rate on the internet and was having second thoughts when the loan approval was appearing elusive. This story resumes in the second week of June…the week his purchase was scheduled to close.
The last time Joe and I had touched [...]
RCG Reader Asks: Can You Beat this Rate? July 7, 2007
I received this email from an RCG reader last night:
“… My fiancé and I are moving…on the 23rd (our closing date). We still haven’t locked in a lender but we’re lined up to go with Wells Fargo right now. Wondering if you could give us a lead on better rate? We’re going for a 5/1 IO [...]
Buying Seattle Podcasts, Videos and Photos May 16, 2007
Does anyone know of a good source for buying Seattle Podcasts and Photos to be used by bloggers?
I saw this announcement regarding the Seattle Condo Expo this weekend. One highlight of the event will be the unveiling of CityScape 2010 – a photorealistic virtual reality video showing the evolution of Seattle’s skyline over the [...]
Second Opinions on Good Faith Estimates March 25, 2007
A few weeks ago, one of the Realtors I work with, Suzy Seller, contacted me to see if I could help her client with an out-of-state mortgage. Ima Rusty (names are changed to protect the innocent), was moving to Arizona to retire and perhaps see the sun. Ima had gone to her “local bank mortgage [...]
It may not be your business…but it is all mine! March 21, 2007
Two years ago, our company switched our loan operating system to Encompass, so I have data available for the past two years (closed transactions from March 2005 - March 2007). I’m pretty surprised at the results after analyzing my purchase transactions and so thought I would share this with you.
Mid Credit Scores
3% had credit scores [...]
Confessions of a Zero-Down Lender February 11, 2007
This is a two part (well so far I’m planning a second post…their could be more) series of a couple of clients (names changed to protect identities, of course!) who have purchased homes utilizing 100% financing. Both parties utilized similar programs but they wound up in entirely different situations.
Mr. and Mrs. Spender eagerly wanted to [...]
Please review the Resale Certificate January 4, 2007
My client and I reviewed the Resale Certificate and cancelled his purchase today.
When you buy a condo, or condo-townhome, you do not know everything there is to know before you make an offer.
After you are in escrow, after the contract is “signed around”, you get a resale certificate within ten days. I’m not [...]
