interest rates: Will the Fed's Bump Interest Rates?
- 06/25/08 04:59 AM
I just posed this question the video community and we'll see what they think. The decision will posted at 11:15 Pacific time today. What do you think? Feel free to post your own video comment reply and get in on the conversation.
Get a or Follow me on Twitter Up to the minute Mortgage Rates Report via Twitter Check out "The Foreclosure Report" (It's help for homeowners in trouble!) … (1 comments)
interest rates: Embed This Video
- 06/23/08 05:38 AM
Embed This Video I prefer you did, but it doesn't matter if you do or you don't. The conversation will still happen. As I was walking into a BBQ the other day, the thought "I wonder what we'll be talking about" zipped across my mind. They all know I'm in the mortgage biz, we have an active foreclosure and a short sale in our neighborhood. Naturally I figured the conversation might be centered around those two houses. My point is, you never know where the conversation is going to lead. While you might expect it going one way, sometimes it turns … (7 comments)
interest rates: Shopping by Good Faith Estimate? - You Lose!
- 06/02/08 01:21 AM
The Good Faith Estimate Scam Here's the truth. A loan officer can out right lie on the GFE. Surprised? Don't be. They can and some will lie to you for one reason, to get your loan.There are a lot of bad people out there in all aspects of the real estate world, and there are a lot of good people as well. The government had a great idea in mandating the GFE to all borrowers. Unfortunately they also some left very large loop holes.The Good Faith Estimate does not have to be accurate - AT ALL! Some of the most … (6 comments)
interest rates: It Takes Just 3 Words to Stop the Rate Lock Scam!
- 05/29/08 12:50 AM
I know... "What Rate Lock Scam? Never heard of it." The other day I gave you the power to determine if you were being Bait and Switched on your mortgage loan. There was a lot to digest there. Yesterday, I gave you the ability to look up a Loan Officer and determine if they are currently licensed in the state of California, for how long, and if they have any violations recorded against them. FEELING EMPOWERED YET? After today, you'll be able to understand a Rate Lock, why it's important, and know the one incredible scam nobody knows about. You'll also … (4 comments)
interest rates: LIBOR Liars
- 05/13/08 05:11 AM
LIBOR: "London InterBank Offered Rate" It's what one London based bank will lend money to another London based bank. To us, it's an index. This is all about London - why should we care? Remember how ARM's work An index is just something that we can all point to and agree upon. It's a factor that cannot be, or should not be manipulated. It is what it is. LIBOR is an index, so is COFI, MTA, or the 1 year Treasury. We generally all agree to use the same figure, as reported in the Wall Street Journal on such and … (2 comments)
interest rates: I almost gave someone $33,000 yesterday
- 05/02/08 08:58 AM
Yesterday we had a dip across the boards in interest rates. I advised my clients to lock if they could. I had three that were ready to lock. Talk about Volatility. Today interest rates are back up and don't look like they'll be dipping again anytime soon. For the rate shoppers out there. If you didn't have your Ducks in a Row - you lost. What exactly are those Ducks? Good question. a Complete Mortgage Loan Application including all requested documentation. an Underwriters Conditional Loan Approval The ability to meet those Conditions in a timely manner That's it. Seems pretty … (14 comments)
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