Reviewing Your Adjustable Rate Mortgage August 27, 2008
RCG’s Jillayne Schlicke was interviewed on King 5 last night…I wish her spot would have been longer. Check her out here! The piece is about resetting subprime adjustable rate mortgages. King 5’s, Chris Daniels reports that locally, we’ll see around 12,000 subprime mortgages reset over the next 6 months. Combined with lower home values and [...]
The Mortgage Witch Hunt October 31, 2007
Just in time for Halloween, officials from various levels of government are gathering together over the frightful happenings going on in the mortgage industry. Home values were going down, mortgage payments were on the rise and consumers did not contact their mortgage professional for advice. Some were provided opportunities to own homes by using [...]
I am a Mortgage Dispenser September 26, 2007
Over the past month, I’ve been combing through my database of my closed clients who have either adjustable rate or balloon mortgages. I’m sending each and every one of them a letter reminding them of the terms of their mortgage. Regardless of how much time I spend explaining how their mortgage program functions, as soon [...]
What is your Mortgage Exit Strategy? August 29, 2007
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 [...]
News at 6:00 April 24, 2007
I was contacted by KOMO this morning to see if they could stop by my office this afternoon to interview me regarding subprime mortgages and how it has impacted consumers.
If I’m not on the cutting room floor…you can tune in tonight at 6:00 p.m. on Channel 4.
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This Just In: Zero Interest Loans, at a Cost of Zero, with a Monthly Payment of Zero (APR 0%)* April 13, 2007
This is part three of a four-part series of blog articles about the subprime mortgage problems facing the real estate industry. In part one I sketched the rise and fall of subprime loan products and their relation to predatory lending practices within a capitalist system. In part two, I examined the structural relationship between a [...]
Zero Down Loan? You Better Have a 620 Credit Score or Higher March 2, 2007
I’ve been working on a zero down rate quote for Jillayne, since she requested that two weeks ago when I did my posted my first Friday rate’s on RCG. She was curious how 100% loan to value mortgages compare based on different credit scores. At the company I work for, we have around 80 (woops…make [...]
There’s No Love for the Subprime Borrower February 13, 2007
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 [...]
