503.698.5801 – see today’s rates at www.GoNorthwestLoans.com
Duration : 0:8:17
Major Lending Changes Affecting Mortgage Rates
A New Tax on Home Mortgages – rates tied with record lows!
503.698.5801 – See today’s rates at www.GoNorthwestLoans.com
Duration : 0:7:26
Franklin TN Real Estate Expert Explores Typical Hurdles Faced By Homeowners Trying to Sell
http://nashvillerealestateadviser.com/
Call Monte directly at (615) 300 – 8393.
Professional Realtor Monte Mohr answers user questions that vary from qualifying for a mortgage to lowering your asking price. Monte has over 20 years of real estate experience and is here to help you navigate through the process of buying or selling your home. You can call him direct at (615) 300 – 8393.
Duration : 0:4:47
Adzookie – The OC Real Estate Show with Peter Campellone
This week Peter Campellone reviews the stories about Harp, Orange County Property Values, Adzookie and our nations Weekly Financial Reports.
There is newly released information about Harp 2.0 regarding the removal of Loan to Value ratio ceilings and reduction of credit score requirements for underwater homeowners.
Orange County has been in a “Matrix” style of home value “Reloaded” because it has been the 3rd time that average home values have averaged $405,000 in the last 7 years.
A local Orange County company, Adzookie, has figured out how to recession bust your house payment. They are offering to paint your home a displaying a local advertisement and in exchange offering to make your house payment for the duration the ad runs on your home. You can check it out at http://www.godialing.com/paintmyhouse.php to learn more about the promotion.
Lastly, this week, 4 new reports hit the top of the charts that may effect interest rates.
Duration : 0:3:57
How To Get A Mortgage In Florida
Cliff Clover http://www.cliffclover.com interviews Erika Alvarez from Watson Mortgage in Kissimmee Florida about some of the myths that buyers have on how to get a mortgage. Erika explains what you need to consider when getting a loan and not to be fooled by people just trying to get you a loan. You will find tips and terms that lenders use and what they mean before you get qualified.
To contact Erika Direct here is her information:
Erika Alvarez
Loan Originator
NMLS # 270033 ** FL # LO10724
Watson Mortgage Corp.
Office: (407) 994-4410
Cell: (407) 463-6420
eFax: (407) 641-9088
E-Mail: ealvarez@watsonmortgagecorp.com
Website: http://www.Erika-Alvarez.com
Thanks for watching of course if you are wanting information on Real Estate from buying or selling call Cliff for a free consultation or log on to:
CliffClover.com
321.229.5890
Watson Realty Corp.
1950 E. Irlo Bronson Mem Hwy.
Kissimmee FL 34744
Duration : 0:4:47
Closing On Your First Home: What to Expect at the Closing Table
http://EverythingFinanceBlog.COM
I’ll be closing on my home next month and, I think, I have everything under control. But I’m still getting anxious about the whole deal. So, what am I anxious about?
Read More: http://everythingfinanceblog.com/2007/11/what-to-expect-at-closing-table.html
Duration : 0:1:8
Something Cool for Realtors and Homebuyers
This is an amazing new program in Broward County, FL for first-time homebuyers. Homebuyers can get up to 30% of the annual mortgage interest they pay back every year in a tax credit. Good for the entire life of the loan.
Duration : 0:4:56
Mortgage Broker or Bank?
Dan O’Donnell describes the pros and cons of working with a mortgage broker versus a bank. Dan is a Realtor with RE/MAX Whatcom County in Bellingham, Washington.
Duration : 0:4:5
3 Things That’ll Torpedo Your Mortgage Loan Application
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One of the most frequent questions we get asked is “Are you in the real estate industry?” Many people wonder if we just report on the news and technology affecting the industry, or if we’re actually practicing real estate professionals.
We actually are in the real estate industry. We work for a mortgage banker in San Antonio, Texas. This basically means two things for our viewers:
We practice what we preach on the show, on a daily basis.
We feel your pain.
Here are three things we encounter on a weekly basis that can cause your client’s mortgage loan application to explode.
The Big D, And We Don’t Mean Dallas
If I had a $1 bill for every time someone tried to apply for a loan while going through a divorce. I would have, um, numerous dollar bills lying around.
Seriously though, this happens more often than you’d think. Most seasoned mortgage professionals catch on to this pretty quick and handle it accordingly. Going through a divorce doesn’t alone disqualify you from getting a mortgage loan, but it does raise several questions and issues for most lenders and investors.
Banks or anyone for that matter, have no interest in getting caught up in the emotional and financial woes of a divorce. That is unless you have the proper documentation. Most divorces actually lead to a refinance, and often times it happens before the divorce is final.
The borrower needs to come with an agreement signed by both parties as to who gets the home, so the banks know who to qualify the loan for. It can be done, but it can get hairy, especially if your client tries to keep the information hidden from your or the lender. It’ll come out eventually.
A Career Change
In the recent economic environment many people have had to change jobs. Mortgage lenders understand this fact. The problem is Government and Investor overlays greatly decrease the chances your client will get a home loan. These job related overlays have hindered many from cashing in on these historically low interest rates.
Having a two year work history is the industry standard for what it takes to qualify. This rule has a few caveats though. A job change doesn’t necessarily mean a career change. If your client is an RN for a local hospital and moves to another hospital with the same job title, you should be ok.
The most shocking development as of late has been the growing number of borrowers that leave or change jobs in the middle of a loan transaction. Make sure you and your lender are advising you clients to stay put. It might seem like common sense to you, but don’t overlook this potential deal breaker. You’ll regret it later if you do.
The New Deal About New Debt
One of the biggest issues in recent memory for why mortgage loan applications explode is your client taking on a ton of new debt right before or during the loan process. The most notorious examples are buying a new car or a lot of new furniture on credit.
This also applies to currently opened trade lines. One of the newest investor overlays is a requirement to pull a new credit report just days before the loan closes. Any new debt can throw your debt-to-income ratio out of whack.
Make sure you’re advising your clients to hold off on these purchases until after closing. The last thing you want to see is a deal blowup because your client just had to have that new leather couch or titanium side by side fridge.
Duration : 0:4:42
Andrew Erb: First Cal Colorado Mortgage
Andrew Erb of First Cal Colorado Mortgage discusses his mortgage business.
Duration : 0:1:55