Independence Day
A King rules his kingdom as the supreme ruler. He can give and take it away. To have a home and land was one thing, but to lose it because someone thought it more fitting for it to be theirs was not too long ago out of the question. Imagine working most of your life to achieve such a goal of home ownership only to have it stripped away in a single moment. Continue reading
Market Slow Down, What?
We always get reports on what the market is doing. These reports come from NAR (National Association of Realtors) the MBA, (Mortgage Bankers Association), NAMB, (National Association of Mortgage Brokers), we get reports for Builder Associations, this association and that association. Sometimes I wonder who is really doing the numbers because sometimes it just does not really add up.
Most often these reports come from Continue reading
Government Debts Don’t Disappear
Not a popular subject but the possibility or potential of being involved with a government debt exists for almost every one of us. To think it’s not, is a tough way to learn this, just as you are about to purchase your dream home. Whatever the cause or reason you believe those old government debts went away, they didn’t.
Directly or indirectly, the most common government debts we see are Continue reading
Your Search for Homes
Today with the internet and all the realtor websites out there most people start their home search as much as a year in advance of their home purchase. The same goes for those selling their homes. Many people will spend hours and even days on end on the internet reviewing what homes area selling for, what condition those homes are in compared to theirs and what they need to do to prepare for the sale of their home or purchase of their new home.
I have watched people spend days negotiating the price of a home or after spending hundreds of dollars on home inspections to walk away from a deal over $1000 or $2000 in needed repairs or Continue reading
Understanding Your Income
Income is still one of the most difficult things for a consumer to understand; what of their income is considered qualifying income for their debt to income ratios. This is not as simple as saying ok, “I make $15 per hour and work 40 hours per week”. That sounds so simple but may not be. This can be Continue reading
Time to Review Pre-qual vs Preapproval
Today both consumers and Realtors are looking for some type of qualification prior to entering into a contract. Most Realtors require their buyer to be at least prequalified prior to showing them homes. Otherwise they feel the potentional buyer may just be wasting their time. Savvy buyers on the other hand really want to know their limits prior to shopping for a home. To a buyer there is nothing worst then looking at homes they cannot afford or would not qualify for. It sets unreal expectations and sets the stage for disappointment down the road.
Many Realtors and Buyers misuse and/or misunderstand the differences between the terms pre-qualification and preapproval. I have written about this before but Continue reading
New Changes in the Rules, May 2018
The 115th Congress (2017-2018) passed S. 2155, The Economic Growth, Regulatory Relief and Consumer Protection Act, which includes several critical regulatory provisions. Although most provisions are welcomed by most some leave others with different concerns such as Continue reading
I Didn’t Think
It’s a tough thing to understand when you’re not working in the mortgage world. Most home buyers only experience a purchase or refinance every 4 to 7 years. Every year the rules change a little along the way but in reality, the basics remain the same.
The basics are the simple stuff which include your Continue reading
More Than Today
I have always had in the back of mind what my goals and dreams were. Unlike most, mine are written down and have been part of my long term business plan. I meet with many people every month and have a full view of most everyone’s financial picture. Although people are very different, and we’re as different as each other’s finger prints, most people break down into just a few different types when comes to people who are ready to retire.
Some are Continue reading
It’s Just Sneaky
Do you remember when you were a kid and you did a paper or drawing at school and when you got home, your mother would put it on the refrigerator for all your family and friends to see. There is no doubt your mom was proud of you and she wanted the world to know that. She maybe wanted to encourage you to continue to do good work. Maybe the deeper meaning was to teach you as you grew older that if your work was always good enough you should put your name on it for everyone to see.
I know many of us receive letters or postcards in the mail. The mail looks like a check or a notice from your mortgage lender, but Continue reading