Many of us are finding ourselves living in homes worth less than we paid to purchase them (myself included). Some of us purchased with a down payment, to find that equity we started with evaporating at what seems to be an alarming and relentless clip. Some of us purchased with little or no money down …
Just recently for Portland Home Loan, I prepared an analysis for 4 purchase scenarios on the same property. It is a purchase of $300,000 here in Portland, OR, and the 4 options are: – 5% down conforming – 10% down conforming, and – 2 FHA options One FHA option is the current FHA cost structure, which has been …
Yesterday’s announcement from the Fed’s quarterly meeting was a major market mover–especially for mortgage rates. Ben Bernanke announced the initiation of something called ‘operation twist’, which many market observers were prepared for, but my understanding is the tone of the announcement really made the bond market jump to levels never before seen, with the result …
Kind of feels like an epic hangover. The low low rate party that seemed like it would never end, has come to a decidedly abrupt change in direction. The sunlight is streaming into the windows, our clothes are all wrinkled, and there are spilled drinks and confetti everywhere. We’ve seen a handful of days in …
Mortgage Rate Volatility and the End of the Refinance Boom Read More »
Now that I’ve got your attention, here is the real truth about the current state of mortgage rates. From the industry that has been “crying wolf” for the last I-don’t-know-how-many years about “low low rates,” I know that this is just more noise. I have been trying to figure out exactly how to describe what …
I’ve been hearing the radio ads just like everyone else, and our favorite breathless loan cheerleader has lately been urging you to call him “if your rate is higher than 4.5%”. I’m sure he would love to refinance you over and over again without any regard to if it makes sense for you. Lets say …
someone you know is contemplating a divorce, do them a favor and send them a link to this blog post. Helping families in a divorce is one of my core services as a mortgage professional. I can help families get their finances and debts clarified and organized, as well as help them make clear decisions …
Free Resources for Divorcing Couples in Portland, Oregon Read More »
I should have subtitled this post: “Why you might NOT Qualify” The FHA mortgage continues to be one of the most popular mortgages in Portland. The reason for this is undoubtedly its FLEXIBILITY. The FHA loan is the easiest to qualify for, requires the least amount of cash, has the lowest credit requirements, allows for …
Time to break things way down. Let’s deconstruct what exactly it is we’re dealing with here in the mortgage industry. I’ve been in the mortgage loan game since 2003 and it never ceases to thrill me when we close and fund another one! Why you ask? Because the great thing about making a mortgage not …
What is a Mortgage? (Probably more than what you think) Read More »
I just read an article this morning about how Freddie Mac has posted a 3 BILLION dollar profit for Q2 of 2012. This means a couple things: (objective fact) – That they will NOT require any more “bailout” funds from the federal government to stay solvent. (subjective prediction) – We will no longer see any …
The END of Tightening Mortgage Approval Guidelines Read More »
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