Credit Pulls and Credit Alerts

Credit Pulls and Credit Alerts

Timing a credit pull can sometimes be the hardest thing we have to ‘guestimate’ when to do. Allow me to explain. For a proper prequalification, a credit pull is essential. Before we do this, we always ask the borrower what they think their credit is or what they think their credit is like. Believe it or not over 85% of people are Continue reading

Paper Versus Electronic

Paper Versus Electronic Documentation

It’s funny how we all see things, as a man in his mid-fifties who has been married thirty years, I still never see myself as old – although my kids do! I just think some of my joints have worn out way before their time. I mean, if you live in my community there are people over 100 years old still driving themselves around town. This can make anyone my age feel very young.

After all, I do consider my myself a pretty healthy guy with a little extra coating around the midsection to help keep me warm, oh forget that, I live in Florida. No really, I am pretty healthy especially for my age but recently I have had to make a few trips too many to the VA hospital. Something popped up that gave me a little concern and reminded me that we are all still vulnerable no matter how strong or healthy we think we are.

My point is, after looking around the hospital Continue reading

DIY Mortgages

DIY Mortgages

“Do It Yourself” mortgage loans? Nope I don’t think so. They are almost in existence. Today it’s easy to find places on line to apply on line. Even my business website even has an “Apply Now” button. But what is the difference between  applying on line and completing a full loan approval on line without ever talking to someone.

I remember as a kid my Grandfather complaining about all the stupid people who were purchasing stuff from the “Sears Catalogue”. He would say why don’t you just go down to the store. See what you’re actually going to buy. Check out and verify the Continue reading

Mortgages and Divorce

Mortgages and Divorce

I know everyone is different and we all have different likes and desires. Some like a home in the country while others like the city life. I always loved the outdoors, the wildlife and going deep in to the forest. I could live on a mountain side forever. My wife on the other hand would rather live in a high-rise condo in the city. Some place where she could just step outside and walk to the store across the street and browse all day long. With all that said it’s amazing we have been married 30 years.

For many people differences in life or life-styles cannot be compromised and therefore their relationships end. For what ever the reason(s) people split, everyone needs Continue reading

Don’t make me guess

Don’t Make Me Guess

Well it’s out, the new loan application, and it’s been in use for over a month now. It’s pretty crazy if you think about it, why do we need all this information anyway? In its simplest form it’s designed to make sure you’re not mistreated. A way for the government to monitor how loan originators, banks and lenders treat people who apply for a loan whether they are approved or not.  What fees one is charged or the rates you may be offered. Yes, I am going to tackle this big thing that most are afraid to even mention.

There is a particular ‘part I’ would to talk about today, it’s Section 7 Continue reading

Because we care

Because we care

Last night was no different to many others. During the day I meet with people at my office and. as I know most of you work very hard during the day you cannot always make it to my office during business hours. There are often times I make trips out to visit people in their homes in the evening and last night was no different.

I arrived at 5:30 pm and the couple there were in their 70’s wanting information on reverse mortgages. I brought along my standard information and FHA/HUD booklet for them to have. I like to keep things very simple. I am not a pushy salesman or aggressive, like I am when playing a sport. I am more like a mortgage coach for beginners. I understand my field intimately and I can go head to head with those who think they are the best.

I generally start off with a talk about Continue reading

Debt vs Saving

Debt Versus Savings
I can’t remember how long it’s been since I wrote about debt and the balance between savings. I know what the more famous financial experts say; “Be debt free and increase savings.”

I may not be famous but I like to believe I am more like the consumer advocate Ralph Nader when it comes to consumer financing.

Finding that right balance is just that, a balancing act. I could really write a book on just this subject and give you hundreds of examples of the different scenarios I have worked with over the years. But today I want our focus to be on the preparation process of the loan application and taking it through to the closing of your new home purchase.

Ideally, I would have to agree with Continue reading

Putting Up the Good Fight

Putting Up the Good Fight

I know my family listens, but I often wondered how many others really listen to me when I am retelling stories from my days in the Marine Corps. I have never seen anyone roll their eyes or even get bored when I repeat the same stories. So are they just listening to be respectful or are they tuning into the lessons that maybe within them.

I work with people from all different walks of life. People may come in with Continue reading