Tag: <span>#Homebuyers</span>

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WHO CALLS THE SHOTS?

The first rule told to me when I started in the mortgage business was, “He who has the gold, makes the rules.” It is very true.   It means, if you are looking for money from someone else to help you finance a property, you have to follow their rules to get the money. If they are...

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CAN I SKIP A PAYMENT, OR TWO?

Have you heard you can “skip” a payment, or maybe even 2 months payments, when you refinance? Is this practice considered tricking the system, or getting away with something? No, in fact, you may be front-loading more cash at closing. This is how it works: The first thing to understand is how a mortgage payment...

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RATE ENVIRONMENT: UP OR DOWN?

Right now, we are in a decreasing interest rate environment. Is there somewhere you can look to determine if interest rates are going up or down? We look to the interest rate on the US 10-year Treasury Note as a leading indicator for mortgage rates. As the 10-year rate goes up, mortgage rates tend to...

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RESPONSIBILITY IN LENDING

There is a great responsibility in lending; recently, there appears to be a movement in the marketplace to commoditize lending by making products available on-line. The emphasis is on closing the loan quickly and making the process automated; this approach implies that counseling to find the right mortgage is not necessary, and leaves the choice...