Special offer

Cherry Hill, NJ Real Estate News

By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  I have seen many people fail to realize the importance of a home inspection. A realtor or loan officer can't really tell you to get a home inspection or even not to get one. Desiree Daniels mentions that in here, Agents & Home Inspections - Laying the ground work (Part 1), which inspired me to write this. But they certainly can recommend a home inspection. At least when you are getting an FHA mortgage, you have to sign a home inspection disclosure, telling you that you know that you have the right to choose to do one or not. So, what is behind an appraisal, conventional or FHA. The reason that I say this is because FHA appraisals aren't as strict as they use to be. HUD (The Department of Housing and Urban Development) relaxed their standards and did away with the VC sheet (Valuation ...
Comments 16
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
 As some of you know, I have been following Google throughout the year and how they market themselves. Okay, some of you might say that they really don't need to market their name because they are so well known. Maybe this will surprise a few. And the Number ONE spot for Top Brand name goes to.  But can we learn a lot from how they market? Has anyone paid attention in the last few days and have watched Google change up their logo for the holidays?  Very interesting. The logo on the right appeared yesterday. If you click onto the logo, this is what appeared which is below.   1: 2: 3: ??? ©2007 Google - Home    So if you search the Google logo today, this is what you will see which is number 2 above. And if you notice, there is a number 3 that has some question marks. A few days ago, ther...
Comments 19
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  The ultimate pill to relieve the real estate and the mortgage problems doesn't exist. What's up with the media and all the negativity? Isn't that how they sell the news? What about the government that keeps coming out with solutions with several lenders making promises. Don't forget, we are in an election period. So is all of this smoke and mirrors? What about these new programs that they are coming out with?  Most programs will only help a select few. Sure, helping a few is better than nothing.  But when they come out with a program that sounds great, that it could help millions, you need to understand the guidelines to realize that it won't. But this is just my opinion, but based on over 15 years in the mortgage industry. So why make these loans available or say all of this negativ...
Comments 11
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
How many of you know the difference from right and wrong? Know the difference between telling the truth or telling a lie? I will say this, I am not God nor am I perfect. I know when I have lied, when growing up. And I was punished for it. But what about as a professional? Or do we even call these people professionals? I had the pleasure of meeting a couple today from Sheri Smith. This couple was pre-qualified by another loan officer about 3 months ago. The loan officer told Sheri and her clients, no problems and happy house hunting. One month later, they are ready to settle on their first house together. But wait!! The loan officer calls and says something came up last minute on title. Last minute?  It was a day before closing. Okay, everyone accepts this for now. The long and short of...
Comments 14
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  Today the Senate passed the FHA Modernization bill aka the FHA reform bill. This bill is the  American Homeownership Act of 2006 (H.R. 5121) which has been through several approval stages since its inception. This bill now heads back to the House for “reconciliation” before heading to the White House where President Bush has his pen inked, ready for his signature. In regards to everything that has happened this year; the subprime meltdown and just recently the fannie mae & freddie mac (by Rey Gallegos), this is a huge lift for the mortgage industry. So what are these changes going to be in the near future? Tim Bradford explains it all hear. Proposed change to FHA MIP scheduled for change Jan 1, 2008.  But I will give you a quick breakdown from a source close to this issue. The new bi...
Comments 13
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
I have been snucked up on and meme'd by Nicole Nicolay. Doesn't Nicole look good in camouflage? Imagine her with that outfit and her skateboard. You should check out Nicole's meme here : Truth or Dare After being on Active Rain for 14 months now, this is my 4th time. I thought 3 times was a charm. Besides, the number 3 is my lucky number.     So, now for all that you have been waiting for. 5 more things about Jeff Belonger....    1.  I have bungee jumped twice in my life time. The first time I did it, I jumped forwards and the 2nd time I jumped head first backwards. The best part was the first time was free because someone bought a bungee pass but was scared to use it, so they gave it to me. The 2nd time was because my cousin and friend didn't believe me that I did it, so I got them to...
Comments 7
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  Problems!  Problems!  run away .....  With all of the negative real estate news, why not, right?  We have seen the so-called subrpime meltdown in the beginning of 2007. We have seen housing slumps continue for the middle of 2006, into 2007, and about to continue into 2008.  This summer, we saw the jumbo market in regards to mortgages increase 1 1/2 percent in rate. And we basically saw most of the stated loan market disappear. Don't get me wrong, they can still be done, but they are much harder and more expensive than before. Lastly, we just saw changes that are starting to occur for even average to slightly above average borrowers in the conventional loan sector. Basically those with credit scores of 620 to 680 with less than 25% down. For more information on this, Lenn Harley break...
Comments 20
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  I had a conversation with my dad this evening because he asked me if I had been paying attention to all of the news in regards to mortgages and the real estate market. This led me to explaining to him about FHA and how it's not used as often. Do you know what he said?  I thought FHA mortgages were for First Time Homebuyers and for people with bad credit. Rut row.... Hence why I am here to explain to everyone that this is not the case. And as I stated here, Will Conventional loans be just like the Subprime mess?, I see more and more people obtaining FHA mortgages now.   What are some of the positives in regards to FHA mortgages?  You can have good to great credit. As a consumer, is your credit bad enough to deserve the worst scenario? -- You can put as little as 2.25% down. You need o...
Comments 23
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
 The world is crashing all around us and were can we turn for help. No, that is not a picture of hell shooting arrows. But things are getting worse in the mortgage industry. Brian Brady wrote,  Time Is Running Out For Some Borrowers. Brian talks about some of the major changes in regards to conventional mortgages. But before you could sneeze, many of the major lenders have made these changes already. Rey Gallegos talks about the exact changes, I blame you for the mess we are in..., and how it will affect even borrowers with good credit.  There was a time stamp on this and these changes weren't suppose to have taken place until the first of the year. Are lenders trying to recoup their losses so quickly?But before we get further into this mess, you might want to understand the true found...
Comments 59
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
 At what cost can poor customer service and misleading advertising have on your business?  Yesterday afternoon I was too lazy to make lunch, so I decided to order pizza. I had some coupons that came from my Sunday paper last week. I am really not know as penny pincher, but I do look for deals from time to time. Don't we all?  In any case, I wanted to see if I got a side of cheesy bread, how much would I save.   So I add up the Cheesy bread of $4.99 to the pizza price of $15.99. Guess what the total came out to. Still thinking? $20.98! I had to add this up twice, because I thought I added incorrectly. Nope, it was right. I make the phone call with my questions ready. A young gentleman answers the phone. Me : I would like to place a delivery order, but before I do so, I have a question.Pi...
Comments 26
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
    How important is blogging?  It seems to be  sweeping quickly and if you aren't with it now, it could take years to play catch up.    I received an e-mail from Krista Fuchs on Sunday telling me that my picture was in the Philadelphia Inquirer. The first thing that came to my mind was, wow, how awesome. Then after about 30 minutes, I realized that there couldn't be much said about me, because nobody called me to interview me. (More on that later)So what is all the hype?  That more and more people are becoming familiar with blogging. The article goes on to say that blogs have several advantages over traditional web sites. Our own Paul Chaney says :         Brad Inman from Inman News goes on to say that blogging is a very useful tool. The overall affect is that you can share so much wit...
Comments 70
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
    In today's high paced informational society, individuals and companies rely on their marketing presence. One of the top three ways to market themselves or a certain message and/or product is through the internet, newspaper ads, and the radio. With this said, how much information is misleading to the general consumer? With over 15 years in the mortgage industry, I have seen my share of false or misleading advertising. Lenn Harley wrote an excellent eye awaking article on interest rates that are advertised as "HISTORICALLY LOW" . I definitely could relate to her frustration, because I agree with her message, but I wanted to shed some light on reality.                                                                                                      REALITY What one person might thi...
Comments 11
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  The Reverse Mortgage is not a FHA mortgage, but it is backed by the government / HUD.  Reverse mortgages are loans that allow homeowners aged 62 and over to convert their home equity into cash while living at home for as long as they want. It's a great way for a home owner to increase their peace of mind and enjoy better quality of life without selling their homes. Especially with today's market conditions in regards to the cost of living.   What's great about this product is that there is no income or credit requirements.    Some other positives and key points :   Repayment : You owe nothing as long as one homeowner lives in your home. And because of the FHA mortgage insurance, it ensures that you can never owe more than the sale-price of your home, even if the home depreciates.   L...
Comments 5
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  So you found a home that you wish to purchase. Do you have a realtor to help you with your purchase?  What about a reputable lender with a loan officer that is very knowledgeable and able to help you with your financing needs. Well, it sometimes might sound easier than it is and that you would try a lot of this on your own. But without the help of the professionals mentioned above, it could cost you thousands of dollars more than you had expected. So what should you be aware of when making one of the biggest investments of your lifetime?  Come follow me why I tell you some of the basics that you should be aware of.      Agreement of sale : When buying a home, this must be completely filled out and fully executed for the mortgage company. Now, many of you may think that this is the ea...
Comments 7
By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
The Cherry Hill Real Estate market is slightly outperforming the Camden County market.  Pended units through October are down 10 and Sold units are up 6 versus the same period in 2006, listed units are also down by 3 in the same period.  This has led to a current inventory of 642 units.  Cherry Hill has been averaging 74 units sold per month which means there is currently 8 months worth of inventory in Cherry Hill.  This outperforms the Camden County market, which has 10 months worth of inventory. An inventory accumulation rate of 8 months represents a fairly balanced market given the time a year: leaning more towards buyers then sellers.Year to date through October, Cherry Hill has an average sale price of $290,885 which is 0.01% lower then the sold average in 2006 (or flat y-t-d).  Ca...
Comments 0
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
 Disclosure : This might be slightly longer than usual. But in order to get this posts full potential, you need to read it all.  In a down market, you will see more lenders come out with gimmicks telling you that they can pay your house down in half the time. They will use such terms as wealth builder, mortgage accelerator, debt elimination, and money merge account programs.  People advertising these types of programs tell you, "don't let lenders steal your money". That you will be saving thousands of dollars in interest. But is there a catch?  Let's investigate this some more.    The number one component that drives the money merge account is discretionary income. This is not the only component, but the most important. As long as the client has enough discretionary income, they can the...
Comments 64
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
How do we view ourselves? How does the public view us, our profiles, and anything else that they read?  Are we that desperate to 'rope' the consumers business into our back yard per se by such statements as : "I have the lowest rates"  "We charge no closing costs" "I will get the best price for your house, guaranteed" "I am the best and cheapest, I will beat anyone's pricing" So let's do a reality check here. How much can you feel comfortable when someone mentions free, guarantee, best rates, or freebies when using the services of a lender or a realtor. We all know for the most part that creative advertising is what so many dwell on to capture the consumer. But how do they catch you? Is it with misleading info so to catch you in their little web? What would you rather have someone tell...
Comments 52
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  FHA mortgages aren't as hard and intimidating as so many have mentioned in the past. Buying your first home, a second home, or even your third home can be intense. If you are a renter, your first step is to see which is better, to rent or own?   Just remember, FHA mortgages are not just for first time homebuyers. Please read : FHA mortgages, how many can you have?        Below you will find a compilation of sequences that you should read prior to applying for a mortgage.   Before you start shopping for a mortgage, you should understand and know your credit. FHA Credit -- Understanding what works Free Credit Report & Credit Repair companies -- BEWARE !!!!! -- Part 1  Credit Tips - FHA or Conventional Mortgages -- Part 2  As a consumer, is your credit bad enough to deserve the worst sce...
Comments 14
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
Thanksgiving is a day to give thanks to all that surround you, may it be family or friends. Something that many of us look forward to each year.What is interesting is how Google markets itself, especially during the holidays. Google's mission statement is, "to organize the world's information and make it universally accessible and useful." Google's corporate philosophy includes a statement such as "Work should be challenging and the challenge should be fun."  (both the mission statement & the corporate philosophy was from Wikipedia.)So, how can you learn from Google?  What is your mission statement?  Your philosophy in regards to business? With the internet being such a powerful tool, how do you use it to your advantage? What can you learn from Google?  Maybe a logo? A slogan? Do you ma...
Comments 6
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
 Please click onto this song as you read this : Cleopatra - Life Ain't Easy   Life can be funny in so many ways and most importantly, we need to be able to laugh at ourselves. During the good times or the bad times. Staying positive always sounds easy, but as the phrase says, "easier said than done", it's not always that easy. Life isn't easy!! But most importantly, we all need some sort of support system, at least this is my opinion. Many of us have seen the movie Top Gun and know the coined phrase, "you can be my Wingman anytime". (man or woman) Wingman could mean several things to so many. But how about someone(s) as your support system.So where can you find such a support system? Is it through family? Friends? Co-workers? People here on Active Rain? Possibly a stranger? This is not ...
Comments 25