FL Mortgage

168 South Church Road, BENSENVILLE, IL

For financing on this home…contact
Russ Walle First Centennial Mortgage 1111 N Plaza Dr Suite 101 Schaumburg IL 60173 847-250-7737 www.russwalle.com

Property presented by: Elizabeth Bos, RE/MAX Destiny.
Contact: (630) 768-1508 or elizabeth@elizabethbos.com
Visit elizabethbos.com to see more of Elizabeth’s listings.

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http://www.ryanzupan.com *******FULL SCRIPT BELOW*******

Today we’re going to talk about the most important concept to think about when coming into the mortgage transaction, and that is, mortgages are not all the same. From one bank to the next & even within that bank, from one mortgage to the next, there are a lot of little differences that can have a huge impact on how much that mortgage is going to cost you.
It’s very similar to buying a car, you don’t just decide you want an SUV just walk to the nearest dealership & start haggling on price. You want to do your homework, you have to shop around, look at the fine print & weigh the pros/cons of the products out there & then make your decision. Some cars have better gas mileage or their maintenance is cheaper, or they have a higher safety rating & so on. It’s very similar with mortgages.

All banks calculate their penalties differently. All banks have different prepayment privileges. Some banks make you pay for a CMHC insurance premium even if you have more than 20% down. The list goes on. It all boils down to how this mortgage fits into your overall financial picture & your goals with the property.

My point here is that you need to look at more than just interest rate, but a lot of ppl get so obsessed with getting the lowest possible interest rate that they forget about all the other factors that make up a good mortgage. You NEED to see the bigger picture.

I’ll give you an example. On a $200K mortgage, the difference between 3.09% & 2.99%, is $10 / month. This surprises a lot of people. $10 / month is of course important, I mean, over 5 years that’s $600 saved, but it’s not something that should cause you to sacrifice good prepayment options or go with some small financial institution that may not be in business in a few years.

When I first sit down with a client, the first thing we go over is the 3 main things you want to look at when shopping for a mortgage:

1) Prepayment privileges

2) Penalties

3) Registration

These three differences can go a long way in determining how much this mortgage is going to cost & they’re very important.

In my subsequent videos, we’ll delve into each of these topics, explain why they are important, & outline how they can be worth more than the rock bottom lowest rate.

Thanks & tune into my next video to learn about how prepayment privileges differ.

Ryan Zupan
Mortgage Planner
Ryan@citywidemortgages.ca
604.250.6122

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A mortgage is one of the most fundamental concepts in personal finance. This video will help explain what is a mortgage for you.

Gor more info, check out: http://www.wallstreetsurvivor.com

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Do you need Citi Mortgage Short Sale Information From Citi Mortgage Short Sale Experts? Do you owe more on your Citi Mortgage than your home is worth? Tune in today as Citi Mortgage Short Sale Experts Josh and Sarah with The Pomerleau Team at Keller Williams Realty talk about their experience with Citi Mortgage short sales and how they can help you.

If you have any Citi Mortgage short sale questions or would like more information about qualifying for a Citi Mortgage short sale contact the Pomerleau Team at 763-463-7580 or submit a contact form at http://shortsaleshift.com/ by clicking the red “Start” button and scrolling to the bottom of the page.

If you are undecided if a short sale is right for you try out our NEW Short Sale Decision Calculator at http://shortsaleshiftcalc.com/

http://www.facebook.com/pomerleauteam

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With interest rates still low, they only have one way to go: up, according to CBS MoneyWatch.com’s Jill Schlesinger. But does refinancing make sense for you? Here are three questions to consider.

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Have you thought about buying your next home with cash? You might want to rethink that and consider how a small mortgage can change your life. Remember, cash is king and having a little debt is not a bad thing if you have cash in the bank. Watch this short video to see what is best for you.

Afterwords feel free to visit www.DesertHomeSalesGroup.com to learn more about buying a home in the Phoenix area.

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Mark Van Deusen, partner with Hunton & Williams, joined REIT.com for a video interview at REITWise 2013: NAREIT’s Law, Accounting and Finance Conference in La Quinta, Calif.

Van Deusen provided some analysis of “excess mortgage servicing rights” and why they’re important for mortgage REITs. Excess mortgage servicing rights refer to a portion of the servicing rights that are created when an originator or seller of loans securitizes loans, sells them and retains an obligation to service the loans in exchange for a fee based on the outstanding principal balance. The fee’s components include compensation for providing the services and the excess, which is an interest in the underlying interest income from mortgage loans that have been securitized.

“A lot of banks are looking to sell the excess MSRs that they hold,” Van Deusen said. “Also, the IRS has just issued a private letter ruling indicating that excess MSRs will be treated as good assets producing good income for the REIT income and asset tests. That private letter ruling has really clarified the law and made a lot of folks look at acquiring this new type of asset inside of a REIT.”

Van Deusen also discussed the role that mortgage REITs are playing in securitization activity. Van Deusen said he expects more REITs will become more active in that area.

“During the financial crisis, it was all about the agencies,” he said. “When I am talking to potential new clients that are looking at starting mortgage REITs, one of the asset classes that they always talk about doing is jumbo loans and potentially securitizing those. I think over time that is going to come back into play.”

Van Deusen gave his opinion on the dominant emerging trends in the REIT industry.

“I think a lot of it is going to depend on what comes out of Washington,” he said. “What happens with interest rates? Do we continue to have a low interest-rate environment that has allowed so many REITs to be able to issue stock because of the search for yield that is out there? I do think it’s all about Washington for a little bit.”

By Allen Kenney

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I was wondering on how much the mortgage ppl make a year or about. And is it a good job to have with good benifits and bonuses?

It depends on what you mean by "mortgage worker". Do you mean the person who originates the loan (brings in the borrower and makes them sign paperwork), underwrites (does the legwork of detailing the viability of a loan to an individual), brokers (brings together the borrower and different banks), closes (wraps up and finalizes loan application), monitors, audits, or any of the default groups (loss mitigation and foreclosure). It varies widely. It used to be that the first couple of categories were booming while we were writing loans like crazy. Now most of the industry is in cleanup mode from the past bad decisions. The basic rule is whatever the industry was paying in 2004-2007, cut by 50%, and that’s what they’re paying now.

Originators use to make 75-100k per year, now if you can find a job, you’ll make 35-50k, et al.

Hope that helps.

Farhaneh Haque, Director of mortgage advice & real estate-secured lending, TD Canada Trust. visit www.financialpost.com/mortage

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Scott Dawsonhttp://gdata.youtube.com/feeds/api/users/ScottDawsonMortgagesHowtoCanadian Mortgage Hangout: RBC Outsourcing

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