Lending and everything Midwest - Larry's blog

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Mortgage and Lending - Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - NMLS ID# 158606
Designed as an open forum that just allows people to talk about anything pertinent. Not politically correct...just facts, fun, advice, expertise and opinions expressed here.
Thirty year mortgage rates have been moving lower over the past week and are currently in the low 4s,  + or - , depending on each of the myriad of loan variables.  Many of you know that over the past year rates moved as low as 3.5% for 30 year fixed mortgage loans and as high as just under 5.0%. ...
YOU EITHER CARE OR YOU DON'T TWO STORIES: It's Thursday night and I'm watching my 12 year old in his basketball game.  He is doing well and the phone rings.  I get a call from a client who wants to close in two weeks.  The real issue is that she was supposed to close at the end of December, but h...
Just last year we had rates in the low threes.  Now we sit with rates in the mid 4's with the 5's just looming over the fence.  Not that any rate below even 7 is bad, but the truth is a lot of it has to do with the economy.  However a lot of it has to do with the cost to manufacture a loan. Just ...
As an attorney and as a lender I've seen more and more people buying and selling in trust. A trust is a great way to own property. It affords ownership, while protecting the individual in many respects. There are a few things that people need to know when doing a trust and getting a loan. 1) For ...
There are many things that people should know about FHA loans.  They're great for a variety of reasons, but I'm going to give you my list of favorite reasons for considering and FHA mortgage.  First time homebuyers can generally come in with less of a downpayment.  Truthfully, conforming or conve...
My dad served in the military during Viet Nam. My Grandpa Bettag in World War II. I know my dad didn't see any combat, but his experience in the military was so bad that he forbid us to go to the local Military Academy for High School. Don't get me wrong, my dad is so patriotic. He understands th...
I'm sitting in a continuing education class right now.  I can't even begin to tell you how much fun that I'm having.  But.....as an attorney and as a lender I can tell you this.  A realtor can't rely on a lender's pre-approval. In other words, the pre-approval letter isn't what you think it is! T...
So last night, after hours, I get a phone call from a realtor, a borrower and the buyer's attorney.  All separate phone calls.  The realtor told the borrower to go with me.  The buyer's attorney told the buyer to go with me, but why? The borrower then calls and begins to spill the beans.  The buy...
  Halloween is here!  As a father of 5, I can tell you that Halloween is a big deal to them all, especially for my younger ones.  In my quest to add value to your family this Halloween, I wanted to share with you something that I check on every year prior to taking my kids out for tricks and trea...
One of the intriguing parts of Active Rain is the ability to have custom signatures.  "Follow me on Twitter"  "Follow me on Linked In"  "Follow me on Facebook" "Follow me on Pinterest."  How cool is that.   Well.....funny you should ask. Over the last 4 weeks, I have clicked on three realtors to ...

Larry Bettag

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 1 “Let not your heart be troubled; you believe in God, believe also in Me. 2 In My Father’s house are many mansions; if it were not so, I would have told you. I go to prepare a place for you. 3 And if I go and prepare a place for you, I will come again and receive you to Myself; that where I am, there you may be also. 4 And where I go you know, and the way you know.”
(John 14:1-4, New King James Version) I review for BookSneeze

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Larry Bettag

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