Tag: refinance
Spike in LIBOR rates may pressure ARM mortgage holders.
I know everyone (including me) is rather distracted by the events going on in the financial market mayhem over the past two weeks, but many mortgage holders of ARM’s tied to the LIBOR Index should be re-evaluating their long term mortgage strategy. Because LIBOR has been very low, many were complacent to make serious consideration [...]
Posted: September 16th, 2008 under General Real Estate.
Tags: Legacy-Escrow-Service, LIBOR Index, mortgages, refinance
Comments: 16
FHASecure: A Helping Hand for Those Who Did Not Refinance in Time
This afternoon I received our Mortgagee Letter from HUD with the nitty gritty on FHASecure. Since our company is a HUD Approved Mortgagee lender (we’ve been providing FHA financing since our inception back in 1976); we are also approved to help distressed home owners who have adjusting ARMs via a FHASecure refi.
FHASecure is “a temporary program designed to [...]
Posted: September 7th, 2007 under Mortgage and Lending.
Tags: adjusting-arm, arm-reset, fha-refi, FHA-Secure, fhasecure, hud, mortgage-master, refinance
Comments: 20
What is your Mortgage Exit Strategy?
Unless you have a long term fixed rate mortgage, you should develop an exit strategy. An exit strategy is a well thought plan on how you’re going to leave your current mortgage. Every time you board an airplane, the Stewardess reviews the “exit strategy”. They’re not planning on an actual emergency landing, they are simply preparing you for a [...]
Posted: August 29th, 2007 under Buyer Information, General Real Estate, Mortgage and Lending.
Tags: adjustable-rate-mortgage, balloon, caps, credit, interest-only, mortgage-exit-strategy, option-arm, prepayment-penalty, refinance, subprime
Comments: 95
So You Think You Might Need a Mortgage?
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 [...]
Posted: August 1st, 2007 under Agent Advice, Buyer Information, General Real Estate, Mortgage and Lending.
Tags: ARM, credit, full-doc, Mortgage and Lending, purchase, refinance, stated-income, underwriting
Comments: 50
There’s No Love for the Subprime Borrower
It’s all over the news, we’re hearing about major subprime lenders having to restate their losses and every day, lenders are coming into my office to inform us of changes to their guidelines. This is all good, right? It will be tougher to provide loans for home buyers who maybe should be spending more time to learn [...]
Posted: February 13th, 2007 under Agent Advice, Buyer Information, Mortgage and Lending.
Tags: 80/20, ARM, credit, home-buyers, prepayment-penalty, refinance, sub-prime, subprime
Comments: 24
The Perennial Borrower
It must be since we’re just a month past the holiday spending, and the credit bills are rolling in, that I start to receive a couple frantic phone calls from clients who say something along the lines of “I know I told you that I would get my act together last time, but.…” It bothers me to [...]
Posted: January 30th, 2007 under General Real Estate, Mortgage and Lending.
Tags: borrower, debt, equity, refinance, seller
Comments: 38
