Archive for January, 2010
Tucson Home Mortgage Update 1-25-10
http://www.tucsonmortgages.com Todd Abelson and Tyler Ford’s Tucson Home Mortgage Update
Duration : 0:2:40
Rosa Clemente – Subprime mortgage crisis and the Left
Rosa Clemente, Green Party Vice Presidential Candiate
Shared sacrifice with those who caused the economic crisis
How her family has been effected by the subprime mortgage crisis
Green Party strategy post Obamamania
Green Party fighting election theft
Defending non Greens on various issues
Who’s really progressive?
http://votetruth08.com/
Duration : 0:9:49
LoanSifter 3.0: Investigate the Search Page
On April 5, 2009, Loansifter will launch its latest release: Version 3.0. Current users will see their system automatically upgrade for no additional charge. New and current users alike should view this video for a sneak peek of how powerful this engine really can be.
For more info, and a DISCOUNT on your first month of service, email: jana@loansifter.com
For more info, and a DISCOUNT on your first month of service, email: jana@loansifter.com
Duration : 0:1:22
Real Estate Conditions 8 – Mortgage & First Time Home Buyer Dec08 30 year Fixed FHA Financing
First Time Home Buyers use FHA Mortgage and Seller Paid Closing Costs to Buy Real Estate Now. Best Market Conditions for Foreclosures and Short Sales in Decades. Go To http://RealEstateMarketingThisWeek.com
Part 8 (Excerpt)
30 year fixed FHA mortgage is the best financing available for first time home buyers today.
So now the only question that I would have, Michael is you only lowered the guys interest rate by 1/8th of a percent, weren’t there a whole lot of closing costs associated with that? Good question, in this particular case no. There were no closing costs.
Well then it definitely makes sense to lower your interest rate if it’s not going to cost you anything and you can lower your monthly payment by 100 bucks a month you would be crazy not to do it.
His breakeven was one day, in that particular case.
It goes back to this Velocity of Money concept. If you’re not sure if it makes sense or not, it’s kind of a no-brainer, give the team at velocity financial a call. You will do the analysis for them to determine if it makes sense or not based, on their unique circumstance, and from there youll advise them on the appropriate type of loan.
You know it’s funny that people over the years they get so hyper-focused on the interest rate of the loan. Interestingly enough I had a recent client whos focus was not on the interest rate, it was on the closing costs. The problem is there is a correlation between the cost of the money and rate, you have to pay it isn’t free for anyone. No cost loans are not really no cost, youre paying a higher rate to get it, so where does it make the most sense for you and your family, how long are you going to use this mortgage? There are so many factors, there’s an incredible amount of discovery that needs to be done.
If you walk into your local financial institution it doesn’t necessarily have to be a bank and you ask what is the rate today? It’s vanilla, it’s not 31 flavors, its vanilla, this is what we have. Well we have a couple of other options, but that’s not how it works at the bank.
One thing I wanted to point out Michael was it was back in 2003, we saw interest rates that were close to what they are now and a lot of people got into the same kind of loan that I got into at that, I got into a three year adjustable loan. And I’m really kicking myself because I wish I’d gotten into a 30 year fixed, and I would say with anyone, especially with as low as interest rates are, they definitely have to get into this market. jump in and get themselves into a 30 year fixed and just be happy with it forever.
That’s a really good point, and it’s safe. If you have a 3 year ARM or two year adjustable, or a 5 year adjustable and youre 1, 2, 3, 4 years into it, the 30 year is the safe way to go, more than likely the interest rate is going to be lower than what you have. In the case of the adjustable ARMs, adjustable-rate mortgages just dont make sense today. If you have a 30 year fixed, its the safe bet.
Dan if you and I are wrong and real estate values continue to tumble, you know what, you have a nice safe loan and you dont have to worry about it for a long time. On the other hand if you want to live there for 20 years, you dont have to mess with it. I think its the right thing to do for most people
Well I think that anyone who is out shopping for a home over this weekend, and what they’re looking for is to not only ask the seller to pay as much of the closing costs as possible but first to get pre-qualified by calling you at velocity financial. They want to make sure that they get themselves a 30 year fixed, FHA is probably the best product out there right now because its such a low down payment, and if youre a first time home buyer and youre in the $60,000 a year range, you can go out there and buy up to that $250,000 house and have a place for your family to be in after the first of the year, and never have to you live in an apartment and have Christmas in an apartment again, you can have Christmas in your own home next year.
Absolutely, that is a really, really good point. We dont want to forget about the $7500 tax credit that goes along with having a home, if you havent owned real estate in the last three years.
The other thing that I want to mention before the show gets wrapped up today, there is interest rate risk here just like there is in the bond market. Interest rate risk is you the buyer looking at what you can use to increase the velocity of money, increase the efficiency in your existing mortgage, or move to a new mortgage because money is cheaper today than it’s ever been…
Duration : 0:5:50
Hawaiian Island Ghost Hunters Case 3 Part 5
The conclusion of Hawaiian Island Ghost Hunter’s investigation of Pacific Isle Mortgage.
Duration : 0:4:9
Redding Mortgage Lender – Voted #1 in the North State
Visit http://www.uslendingcompany.com – US Lending was voted #1 Redding Mortgage Lender in the North State. We are a direct lender so we can guarantee your loan fees will not change! For a Free No Obligation Rate Quote Call 530-244-6830 today!!.
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Duration : 0:0:53
Mortgage Loans Change in Economic Crisis
With the real estate market in decline, mortgage lenders are stricter about requirements for loans. Do you need a bigger down payment, a better credit score, or more solid work history? How has qualifying changed and what do you need to know in order to qualify for a mortgage loan in today’s tough market? Watch this Expert Real Estate Tips segment to find out more about what mortgage lenders require.
Duration : 0:1:45
The Hawaii Real Estate Roundtable – Part 1
In this Web video you will hear from a panel of experts specializing in Hawaii real estate related topics during the first in our series, The Hawaii Real Estate Roundtable.
You will get insights, advice and information from an escrow officer, from a loan officer, from a home insurance specialist, from a real estate broker and from a home inspector. In later series you will hear from additional experts who specialize in Hawaii real estate related topics.
Duration : 0:7:56
Nov 2006 Peter Schiff Mortgage Bankers Speech Part 1 of 8
In 2006 Peter Schiff tells over 1000 mortgage brokers they are about to be out of jobs. Watch how he completely nails the coming real estate/mortgage debacle before anyone else even realized it was coming.
Duration : 0:9:56
What is the best way to shop for mortgage rates?
I have been pre-approved by a local very large bank known for their mortgages of which I am a customer. I know the lender.
Once my short sale is approved I will get my first rate & points from him. Then is it best to shop on the internet or go in person to other banks? Do credit unions or online mortgage companies offer better rates and less points than nationally known banks?
Very good suggestions. Thank you all for your ideas.
Generally credit unions offer very good rates because they are non-profits so they have lower costs. I particularly like the Navy Federal credit union and the Pentagon Federal Credit Union.
The first thing to do is to get your credit report for free at www.annualcreditreport.com and check what is on there to make sure your report is accurate. If it is not, and there are negative items on there, get those cleaned up.
If you are a first time homebuyer, check on www.hud.gov or at the department of housing in your city or county to see if there are any special deals for first time homebuyers. I got a mortgage under something called a "mortgage credit certificate" that saved me 20% off of the interest costs.
If that doesn’t work, try to do all your rate shopping within a 2 week period of time, so it has the least effect on your credit score.
There is a "homebuying for dummies" book you can get at your library that has pretty good advice on how to shop for a mortgage. The biggest thing is to make sure you compare APR (annual percentage rate) not just the rate quoted, because sometimes a low rate comes with huge amounts of fees and points, and they offset the low rate.