High interest rates and their connection to oil... |
| 6/13/2008 6:42:40 AM |
| This is a pretty simple concept to understand. Oil is and has been a hedge against inflation for a very long time. This is because oil is traded in US currency making it an attractive investment to investors trading in foreign currency when the value of the dollar is on the decline. They buy and hold on to the oil futures until the dollar recovers a bit leading to a sell... Read More |
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Should the government stay out of our affairs? |
| 6/4/2008 10:07:58 AM |
Should the government keep out of our affairs? That is a questions that sparks uncomfortable and spirited debates over dinner table. Different people have different opinions on this matter. My opinion is that when the governement gets involved they disrupt natural cycles and slow recovery.
I read an article today in where Richard Bernstein of Lehman holdings said... Read More |
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What do you think the FED is up to? |
| 5/30/2008 1:42:12 PM |
I'm talking about the spike in oil recently... Who'd of guessed? A diabolical plan to increase the cost of oil while a Bush is in the whitehouse...? Oil is a hedge against inflation. Oil is traded in dollars so when the dollar drops oil becomes a more attractive investment for those trading in foreign currency. The FED cutting its key rate increases the likelyhood that the... Read More |
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The Importance of Taking an Accurate Application... Avoid surprises down the road! |
| 5/30/2008 1:36:01 PM |
It is amazing to me how many people call up and ask for a rate with out wanting to supply any information. It goes something like this; the phone rings, I pick it up and greet the caller. Often times at this point I am asked "whats your rate". I used to try to explain to them that I cannot give them a rate without asking them a few questions first. I've heard the... Read More |
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A Unique Little Economy... |
| 5/30/2008 1:27:39 PM |
The title of this post is referring to the economy of Plattsburgh, NY and the North Country as a whole. Amidst all of the doom and gloom being reported daily in the national news with regard to our economy nation wide out little economy is still booming!
People are still buying homes, more businesses are coming to town, and there are still plenty of employment... Read More |
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Lake City Mortgage is Now Offering The Lake City Home Express! |
| 5/29/2008 7:41:26 AM |
We have an amazing new loan program here at Lake City Mortgage that is sure to help a lot of people. To my knowledge we are the only mortgage company in the area offering anything like it. 100% conventional financing has completely gone away which is why I am so thrilled to be able to offer The Lake City Home Express!
Here Are a Few of The Highlights:
- 100% financing of... Read More
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I don't want interest rates to go down... I want people to get jobs! |
| 5/22/2008 12:29:48 PM |
Interest rates are near historic lows. I remember when mortgage interest rates were in the high teens and you were very lucky to get a 12% rate. That was before I was in the business but I do remember hearing my parents talk about it as a young child.
The other thing that I remember from my child hood is that houses were selling! Sure you'd see the occasional real estate... Read More |
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Individually qualifying each person. |
| 5/12/2008 11:57:45 AM |
Gudelines continue to change so quickly that it is hard to keep up. I work hard to stay on top of guidelines but in this market environment that just simply is not enough.
I see cookie cutter loan scenarios all the time that a while back I would not have given a second thought to issue a pre-approval letter on.
That is no longer the case; I call my underwriters, AE's, and... Read More |
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PMI is going, going, and gone for some people... |
| 4/15/2008 6:51:40 AM |
Since beginning my career in real estate finance I have often been asked questions about PMI. Some people want to know why they need it; they are concerned that the PMI brings the payment too high. Others know that it is a requirement but want to know why it is so high, is it their credit, loan to value, or is it because I am charging more for PMI.
I have given many... Read More |
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Is a Money Merge Account Right for You? |
| 4/14/2008 8:38:25 AM |
I guess the answer to that question is can only really be answered after you have had the opportunity to have your current situation analyzed by an expert. I personally have come across several reviews concerning Money Merge Accounts; some good some bad.
Some people consider it a pure rip off; I have read many peoples opinions who state that you can do the exact same thing... Read More |
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It's all about past performance... Not all brokers are bad! |
| 3/26/2008 12:23:13 PM |
I'm not putting any flashy pictures or exotic text in this post I just want to point something out. I saw a news broadcast recently that focused on the lack of ethics within the "mortgage broker" community. the entire hour long broadcast talked about the economic turmoil that we are in and blamed mortgage brokers. The people (so called analysts) on the screen... Read More |
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Financial Institutions Pare Lending |
| 3/25/2008 2:24:16 PM |
| Many financial institutions in this nation are required to maintain "reserves" in order to hold onto certain credit ratings that are a requirement of doing business within the financial sector. The requirements vary depending the the type of business being conducted. Mortgage brokers for instance are required to hold a $100,000.00 bond in order to legally stay in... Read More |
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LLPA, and what this means for you... |
| 3/18/2008 8:17:59 AM |
| LLPA or "Loan Level Price Adjustments" are adjustments that Fannie Mae and Freddie Mac (or any lender for that matter) may levy against a borrower contingent upon certain conditions being met. What that means is that Fannie & Freddie can take the base rate that is determined by the current market conditions and add hits or upward adjustments to the interest... Read More |
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Important updates to the site and my ability to serve... |
| 3/16/2008 10:30:19 AM |
| The first thing that I added that I think it is important to point out is Meebo. Meebo is a great little piece of technology that adds a real dimension of service by connecting me to clients any where in the world. If I am working with someone who happens to be on vacation in Vietnam and has a question really gnawing on his/her thoughts, does not have access to worldwide... Read More |
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Own a Piece Of History! |
| 3/13/2008 2:09:55 PM |
I am in a unique position as a Mortgage Professional. I have the privelage of preview hundreds of pieces of property just as or before they go on the market. One in particular property caught my eye recently as I was perusing the listings of one of my partners listings. John Murphy of http://www.northcountryrealty.com/ has listed a fantastic 4-plex that used to be an art... Read More |
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BAO made a great decision... |
| 3/13/2008 1:59:17 PM |
Regarding their recent decision to purchase Countrywide, America's largest home lender. There has been much speculation on the topic for good reason. Countywide is a very large financial insitution. If it were to collapse it would be a large chunk of the economy down with it. More than 7% of Cw's Loans are in default. Personally, I am satisfied with the arrangement. Not only... Read More |
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Ready To Go Shopping? |
| 3/13/2008 1:44:08 PM |
There is a lot that can be said about a good referral. Personally I think that business by way of referral is the only way to go. If my car is broken down I ask my friends who they take their car to. This gives me a good idea of whether or not I am dealing with a reputable professional. This is true with just about anything that you can think of and especially in the Real... Read More |
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There No Such Thing As Free!?... Yeah Right! |
| 3/13/2008 1:36:23 PM |
I'm Psyched! I just got another Real Estate Firm on board to do a portion of their marketing with me. I guess that it's not a hard sale to get a Realtor to work with me on this project because I am giving hard hitting marketing away for free. Free and I know first hand that many people, especially business people run the other way when they hear that something is... Read More |
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Adirondack Luxury Style Chalet! |
| 3/13/2008 11:13:47 AM |
| I frequent areas of interest to me in order to write reviews and provide information on some of the properties that My Realtor Partners have listed in the area. My mother owns two properties; one in Churubusco, NY and her primary in Mountain View, NY. I recently visited my mother at her camp in Churubusco, NY and since I was so close to one of my Realtor partner's listings... Read More |
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Government cash injection and the dangers ahead... |
| 3/12/2008 8:05:39 PM |
It started at the pump, not the mortgage shop...
And now it is headed toward your wallet and your savings. Ben Bernanke (FED Chairman) announced yesterday (03/11/2008) that our central bank in conjunction with several of the worlds central banks will be pooling together to inject 200 billion dollars into some of our nations struggling lenders in exchange for souring... Read More |
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