Michael's Blog

So, Have We Hit Bottom Yet? - - - don't bet on it! As the local real estate and mortgage markets continue to work through price decline, here are my (now 7) reasons why we still dropping (as of Aug 26, 2008): #1 Mortgage Lenders are lowering LTVs (loan-to-value) ratios. This obviously negative mo...

  Homeowners? Investors? or Suckers? Owning a home means having a mortgage, which means you really don't really own your home, outright - right? To purschase an entry level in the Westport/Witon/Norwalk area means taking on huge mortgage by today's standards, but by 1960s standards is astronomic...

   BEWARE of the APR & HIDDEN POINTS & FEES The problems begin when (phony) interest rates are advertised, and an unsuspecting shopper wants to believe he or she can really get a "zero point" 30-year fixed Jumbo loan at 5.50% when the 90% of market rates at 6.00% and above. Do shoppers bring on ...

I. Information Needs to be Presented in a Standardized Format I often hear the more Consumers shops for a mortgage, the more they become confused.  Sure there's a bit of a learning curve when researching a new area of information, and though most Lenders and Brokers eventually disclose loan infor...