There will always be some sort of mortgage myth in our industry or a piece of information given by a loan officer that is misleading. What I am about to talk about is regarding FHA loans and a borrower using a co-signer to help them purchase their new home. We call this a non-occupant co-borro
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07/22/2010
Could one say that the sky is falling? There has been a major discussion whether or not Pre-Approval letters will be like dinosaurs, extinct. It was started with this post by Marilyn Boudreaux - Pre-Approvals Disappearing? - It was then followed by Lenn Harley's post, Calling all loan office
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07/19/2010
From the consumer - "I have bad credit".. "my credit is so so"... "my credit is good". "My credit scores are good", etc, etc. I have heard it all and just this alone doesn't make or break you as a potential buyer when wanting to buy a home. The thought process of an average loan officer - "Yipp
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07/18/2010
IMPORTANT CALL TO ACTION - Hot topic - Reduction of seller concessions on FHA loans to 3% max I wrote this article the other day, HUD seeks public comment on three main issues for FHA loans. - The main issue and focal point is that FHA wants to reduce the seller concession from 6% to 3%. I
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07/17/2010
You can make a difference - you have 30 days to comment against FHA's proposals With a difficult economy and possibly some new FHA mortgage changes coming in the new future, this could be time to make your voice heard. HUD made this announce back in January 20th, 2010 - FHA announces policy cha
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07/15/2010
This makes FHA loans sound to EASY. This is extremely misleading... I must digress... this post was just sent to me. FHA loans have no minimum credit score for Florida Homeowners - From reading this post, the author makes it sound very easy to obtain FHA loans with less than perfect credit. T
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07/13/2010
FHA loans have certainly become more popular over the last several years. In the past, some loan officers were using other types of financing that were easier for them, but not suited best for the borrower. That use to get under my skin and I witnessed it first hand in some cases. What I hate
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07/11/2010
For many of us, we market ourselves in many ways to achieve a specific goal. That goal usually represents money. What I am about to talk about is geared more towards loan officers in general. More recently, I have seen more loan officers take on other roles in getting their name out there.
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07/08/2010
Yesterday we celebrated my mom's 66th birthday at my sister's house in Medford Lakes, New Jersey. We were waiting for my mom and dad to show up, since they were playing golf earlier. So I was out with my niece and nephew while they played in their kid vehicles. Joey decided to hope in wi
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07/03/2010
Be very careful on what you hear from others when it comes to the real estate market There is some news out there from realtors and so-called experts advising buyers to maybe wait for a year or so. This kind of stuff angers me for many reasons. Here is a question I just read from a potent
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07/01/2010
