Anyone who thinks they know the mortgage industry - especially well enough to predict it - is like someone saying they know which star has a planet in orbit that can support human life. Seriously, everything anyone knew about the mortgage industry just six months ago is completely different today
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05/28/2009
We have hashed and re-hashed what the First Time Home Buyer's Tax Credit (FTHBTC) is and is not. Some are still confused and I am not even about to breech that subject of whether or not it can be used as a down payment. If you look good in orange feel free to try that out yourself. What I do want
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05/27/2009
In case you don't normally read my blog, Ken Cook and I have been hosting a one-hour online radio show every Tuesday for the past six months. We recently decided to change the name of the show from "Twitter Tuesday" to "Social Media Edge", since many of our friends thought we were talking exclu
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05/23/2009
How many phone calls have I had over the last 12 months from "mortgage modification companies" promising thousands of dollars to me if would have my loan officers refer to them people who could not refinance but were in trouble. I said no, every time. Sometimes I had some laughable conversations
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05/17/2009
UPDATE UPDATE UPDATE JEFF BELONGER wrote a fantastically superlative piece on this subject today (5/14/2009) highlighting the issues which were brought to light yesterday and gives updates that a essential to all agents, members of the NAR and not. It's a MUST READ! That is incorrect, sort of. T
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05/13/2009
Oneta had known the borrower since high school some 35 years earlier. They had been working on the loan for about 2 months to get all of the borrower's documents and the appraisal and everything needed to close this somewhat difficult loan. Oneta really needed this loan to close because she had p
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05/08/2009
Scenario: Buyers find a home they really like in a neighborhood they love and the price is perfect. It just needs a few things like maybe a new roof or new HVAC system and they're in! Since it is either a bank REO or a distress sale there is no way the seller is going to make the repairs. Even th
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05/08/2009