Positive Real Estate Professionals

Yesterday I was talking to a home owner that was toying with refinancing his property and had some questions that he needed answers. It surprised me that he wanted to know the difference between Rate and Term Refinance versus Cash Out Refinance. The reason that this surprised me so much is that most people do not know this terminology unless they are in the business or currently in the process of doing a loan. In the case of this borrower, his was the latter. Read More

It will not come as a surprise to anyone that banks all over the world have been in severe trouble as the global economic woes impact most segments of the financial industry. I have read numerous articles, and written a few myself, about when the bottom of this crisis would be reached. Back on January 9th, I happily wrote a post entitled Rebounding Markets in which I discussed the flurry of reports on the bottom of the economic markets having been reached. Read More

For many months now consumers have been hearing that this is a buyer’s market. From television ads produced by the National Association of Realtors (NAR) to blogs coming from all corners of the internet the chorus of voices is growing. If this is indeed a buyer’s market, why are so many people still sitting on the fence? I know that many people will claim that they cannot get financed and in some cases that may be true. The guidelines have become more stringent, the stated income, stated asset loans that helped to usher in the current housing climate are no more. If you are wanting an investment property you are going to have to make an investment of some of your capital to get it! In the following article by Fred Chamberlin he takes a look at fence sitters when it comes to refinancing. Similar to those who are waiting to purchase, there are those who continue to hold out on actual monetary savings they could realize through a refinance. With the record low interest rates he provides concrete evidence to spur people to refinance and save money on their mortgage. Read More

When you work with a professional they listen to your needs and hopes; they talk to you in a way that you can understand even if it is something you know little about. In short the same qualities that many of us look for in friends are the very same qualities we look for in professionals. Do you have that level of comfort and understanding with the professionals in your life? In the following article, Danny Thornton explores the importance of a good working relationship with your real estate industry professionals. Read More

I came across this article yesterday and thought it made some excellent points regarding how the Libor Index which directly affects Adjustable Rate Mortgages (ARMs) has been behaving. There is a lot of concern now for most people whose loans are scheduled to reset or adjust. The obvious concern is that when an ARM reaches its adjustment period it will automatically skyrocket making the home no longer affordable for the homeowner. In the following article there is some great information about why this may not necessarily be the case any longer. Read More

Over my years in the mortgage industry I have seen a lot of things that I question. A lot of those questions are based on what the title of this article states. Typically, if you have a fixed interest rate, what sense does it make to refinance that rate to attempt to get it lower. Going from a 5% to 4.5% really is not going to make it enough difference to offset the cost of the loan. Read More

In a post by Sandy Noll she not only poses the question to the current homeowner and prospective home buyer, Is now the time to buy or refinance? She also gives you one of the most important tools in helping you to make that decision. More than a traditional mortgage calculator, the link allows you to input different variables like current vs. future home value and different interest rates. Hint to using the tool, the green box in the right hand quadrant it the control for the Sales Price Comparison and the Payment Difference charts. I hope you find this post useful. Read More

With a resounding ring, the new year was ushered in by billions of people all over the world. For some, they were glad to get 2008 behind them. For others, they were glad to get 2009 started. For me, I fall in the second group. I am excited in what I see happening in the housing market here in American. Do I think that it is going to create a wealth of income for fly-by-night professionals as it did in the 90’s? No, not even close, but it will create a steady stream of income to the professionals that get into it for the right reasons. Read More

Mortgage interest rates are at historic lows. How many times have you heard that from real estate industry people, friends and family, and the guy who does your dry cleaning? While the rates truly are at historic lows many people are not taking advantage of the opportunity to either buy their new home or refinance their high interest rate to a (sometimes considerably) lower interest rate. Read More

Earlier today I came across this great article by Fred Chamberlin. The program he outlines in his post is excellent. Though there are some restrictions, they do not seem overly cumbersome. I would definitely recommend taking a few minutes to read this post if you are a veteran or a real estate professional who works with a lot of veterans. Read More