Kate's Blog

Let's face it, some people bought homes that they did not need to buy, or should not have bought.  Is it the responsibility of the Federal Government to bail these folks out? I have heard a lot about moral or ethical responsibility.  Yes we should all be concerned about a home going in to default...

I am posting information about the Federal Reserve's proposed rule that will change HOEPA and TILA.The comment period for the rule ends on 4/8/2008.  On my state's association website we have place the rule, sample letters and NAMB"s link.  Please everyone- write a letter. The letters can be emai...

Today has been such a blessing. With FHA limits raised and the DAP going strong, business should improve for many people.Plus more  people will be able to buy a home.In my area, the FHA limits raised about $70,000. This is a huge relief for people with credit scores of 640.  They now can buy a ho...

Home owners should take advantage of the lower interest rates being offered.  If you have equity and did not refinance recently, now is the time to go for it!  When was the last time you saw rates below 5%?  Refinancing to a 15 yr rates can help save loads of interest and build up equity.  This i...

Lately, with all the problems that lenders are having selling their loans, they and the mortgage insurance companies have started to add more layers of requirements to the Fannie and Freddie requirments. Before, if we got an approve or an accept- we could collect the required documentation and as...

Stop fence sitting , tire kicking, procrastination, putting things off, mulling things over, dragging your feet--- make an offer- the market is ripe for a great opportunity to buy a home.  Second Home? Investment Property? New primary residence?  If you have good credit-- and that is a true requi...

Financing a foreclosure is not rocket science. If you can do a conventional or FHA loan, then you can finance a foreclosed property.  The biggest hurdle is having a contract signed by the correct parties.  Not everyone can sign  off on a contract. You must show that an individual has the right to...

Now most credit repair companies are great.  They will help the consumer get their credit reports corrected. It takes time and it is a skill set that a lot of folks don't have or don't want to have. The ones that I don't like are the ones that sell another person's credit lines so the consumer ca...

We all  knew it would.  But the big question is  Will it pass the Senate or a Presidential signature?  We do need reform. We need all originators to be licensed, just like stock brokers, insurance agents and Real Estate agents, regardless of where they work. A loan is a loan is a loan.  But we do...

It is a shame lenders have forgot who made them all their money.  Now they conveniently are tossing us aside.  Which means, crappy service for your clients, slow underwriting, and higher rates.  B of A has kissed the brokers good-bye. WaMu is requiring a disclosure that their inside people will c...