Archive for February, 2010
how to get the best rate on a mortgage
5 minute video about how a mortgage broker or lender should work with you to make sure you are getting the best rates
Duration : 0:5:10
Mortgages Explained by Vancouver Mortgage Broker – What NOT to do when you buy a home
www.notapennydown.com Mark Fidgett, a mortgage broker in Vancouver Canada, explains the one thing you absolutely must not do before you buy a home
Duration : 0:2:26
“American Casino” – Doc Investigates Roots of the Subprime Mortgage Meltdown 4 of 4
“American Casino” – Doc Investigates Roots of the Subprime Mortgage Meltdown and Tells the Stories of Its Victims
The subprime mortgage meltdown was at the heart of whats been called the Great Recession of 2008. It caused more than a million Americans to lose their homes and brought Wall Street to its knees. A new documentary opening today in New York takes on the subprime crisis, tracking its roots on Wall Street and Washington and profiling some of its victims, mainly African American families who lost their homes. We play highlights and speak with filmmakers Leslie and Andrew Cockburn. [includes rush transcript]
Duration : 0:7:38
LoanSifter: Refi Monitor Part 2
THIS IS PART 2 OF 2: The Refi market is boomingbut are you taking advantage? Have you taken the time to comb through your closed borrowers and see who will benefit from todays pricing? And if you haveare you re-checkingand re-checkingand re-checking? In todays market, your closed loans are GOLD!
With LoanSifter, you can automatically upload all your closed files (easily from Calyx Point) and let our system do the work for you! You set up the triggers that youre looking forand we email you as soon as the desired rate, rebate, and product are found! Its that simple!
If you’re not a subscriber yet – contact me at jana@loansifter.com
Duration : 0:4:1
Real Estate Conditions 7 – Mortgage & First Time Home Buyer Dec08 Refinance & Interest Rates
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 7 (Excerpt)
The old rules no longer apply and Suze Ormond should know that.
We have Dan Havey the author of Real Estates Future in the studio today.
Michael, I was just curious, back when I got into the industry many, many years ago there used to be a rule of thumb that if you were going to refinance you had to lower your interest rate by at least two percent and I know as time went along and products changed that really became unnecessary, but I am just curious in todays mortgage market its a lot different than we were dealing with even two years ago. Is that still true that there is a 2% rule? Whats going on now?
I happened to catch Suze Orman on television and she was talking about mortgages, the caller who called in to the program, the question became I believe similar to what Dan just asked, her comment was that basically if you’re in 6% interest rate or above now is the time to re-fi. That is what she said, a blanket recommendation. I know a lot of people put a lot of credence into what she says, maybe you could speak to that, the lowest interest rates you’ve seen in your career, you have been doing this for a while.
I have, and they are. You know there was a lot of speak the last couple weeks about the Fed, the Fed funds rate by the way is the lowest it’s ever been in history. As of this week the discount rate is to the point that banks are lending money to each other at nothing, the Fed funds rate for intrabank lending is at zero, the problem is the banks don’t have any money.
To be serious about the refinancing, because its a serious topic, I think people are starting to see their mail boxes filled with lots of advertising crap about refinance. I believe that doing the refinance is no different from doing a loan modification or buying a house, you need to sit down with the human being that’s local, that you can know is a legitimate source. You’re going to give all this personal information about you, your family, your kids, your Social Security number, you want to make sure you have somebody there that you know whos legit.
In regard to the old rule of thumb 2%, nothing could be further from the truth, and I will expand, but to the point of Ms Ormond that if youre at 6% or higher, that is a blanket statement and blanket statements never work. We just did a refinance for a guy who was at 5 1/2%, and it makes sense. Every situation is different, as far as how much do I have to lower my interest rate to make it work? It depends on the type of mortgage that you get.
The only type of loan to get today in December of 2008 is a 30 year fixed. I know that one of the things that was really interesting to me, and that you and I have referred clients to one another for several years, so we share a number of clients, were familiar with those families and those households, and this is Wednesday, on Monday and Tuesday of this week I’ve had seven phone calls from clients who you’ve already done loans for, refinances for, asking if this is the time to refinance a loan that is only a couple years old.
And I know in several of those cases the answer is yes you’re actually helping families right now with that process. I am and we do. To answer the question, you need to determine what the payback term is, in other words when your refinance is done it’s a new loan, there’s the title insurance, appraisals, lots of different things may need to be done, not in every case, but in most cases there are costs associated with that. The cost has to be offset by the amount of savings. Its a breakeven analysis
Absolutely it is, the shorter the breakeven the better the loan. I am working on a case right now which is going to be done in the next couple of days where the guy lowered his interest rate by an1/8 of a percent and it made sense for him. It’s not for everybody, 2 percent or lower, 2% is significant, now you’re talking about really significant savings in terms of cash flow…
Duration : 0:6:31
Uncut: Paula Akana’s Interview w/ Dave Ramsey
KITV4’s Paula Akana talks to radio and TV show host Dave Ramsey about personal finances and how to get out of debt. (11.16.09)
Duration : 0:18:56
Buying a home with bad credit? Bad Credit Auto Loans,Home Loans,Mortgage,Refinance,Dept Consolidation,Credit Card,Commercial Loans,Business Loans,All Types Of Loans Of Any Kind Visit Now And Approved In Second
Buying a home with bad credit? Knowledge is your key to being successful. The Bad Credit Guide to Homeownership can Buying a home with bad credit Some people prefer the do it yourself credit repair method we will take away the hassle and help repair your bad credit National Auto Approval provides auto loans, online bad credit auto loans approval for people with a history of bad credit or bankruptcy Choose from secured, unsecured or prepaid credit cards. Bad credit credit cards get a credit card even if you have bad credit or no credit. to learn more about this great offer, please visit our website at Private Fast Loans.com
education loans eloan emergency loan equity loans fast cash fast cash loans fast loan fast loans fast payday loan faxless payday loans federal loan consolidation federal loans federal student loan federal student loan consolidation federal student loans fha loans finance financial loans financing get a loan government loans graduate loans graduate student loans guaranteed loan guaranteed loans hard money loan hard money loans high risk loans home equity home equity loans home improvement loans home loan home loans home mortgage home mortgage loans homeowner loan house loan i need a loan instant loan instant loans interest rate lender lenders lending line of credit loan loan application loan brokers loan companies loan company loan consolidation loan for bad credit loan for people with bad credit loan rates loan with bad credit loans loans com loans for bad credit loans for people with bad credit loans online loans with bad credit low interest low interest loan low interest loans low interest rate loan low interest student loans low rate loan military loans money money loan money loans morgage loans mortage mortage loans mortgage mortgage broker mortgage brokers mortgage company mortgage lenders mortgage loan mortgage loans mortgage rates mortgages motorcycle loans need a loan no credit check no credit check loan no credit check loans no credit loans online loan online payday loan online payday loans pay day loans payday payday advance payday advances payday loan payday loan store payday loans personal loan personal loans personal loans for bad credit personal loans for people with bad credit personal loans with bad credit plus loans poor credit poor credit loans private loan consolidation private loans private student loan private student loan consolidation private student loans quick cash quick loan quick loans real estate loans refinance refinance loans refinancing refused credit repayment school loan school loan consolidation school loans second mortgage secured secured loan secured loans secured personal loans short term loan short term loans signature loan signature loans small business loan small business loans small loans small personal loans student loan student loan consolidation student loan default student loan interest rate student loans student loans bad credit student loans for bad credit student loans with bad credit students loans subprime loans unsecured unsecured loan unsecured loan uk unsecured loans unsecured personal loan unsecured personal loans
Duration : 0:10:40
Commercial mortgage loans, Hard Money or FHA- Lenders bidding you decide
Instant results, to get 6 or more bidding lenders use the links below:
all loans: http://www.lendinguniverse.com
Commercial loans at;
http://www.lendinguniverse.com/BorrowersCommercial.asp
Hard money loans at:
http://www.lendinguniverse.com/BorrowersHardMoneyLoans.asp
Land Loans at:
http://lendinguniverse.com/BorrowersLandLoan.asp
Ranch and Farm at:
http://lendinguniverse.com/BorrowersFarmLoan.asp
Constraction loans at:
http://lendinguniverse.com/BorrowersConstructionLoan.asp
Logged in for any possible other real estate loan. Social Security is not required. You will post a short request, not a loan application, and it will be reviewed by top lenders- you will decide.
Duration : 0:1:17
State Sovereignty
This is worth reading and monitoring.
Nothing may come of this, but worth taking notice
In the event that something does indeed happen.
Watch in HQ:
******** Update 05/10/2009 ***********
HCR 6 – New Hampshire Sovereignty Bill
“Inexpedient to Legislate”
It means the bill died before it got to the floor.
http://gencourt.state.nh.us/bill_status/Results.aspx?q=1
Maybe they were bought out with HR1 Stimulus money?
********** Update 04/24/2009 ****
Montana Firearms Freedom Act – House Bill #246
Language asserts 10th Amendment
http://data.opi.mt.gov/bills/2009/billhtml/HB0246.htm
********
Update: 4/20/2009
Ron Paul 2012- Ron Paul on Secession 4-20-09
http://www.youtube.com/watch?v=ITz2SOmR8J4
***********
Update: 04/12/2009
Gov. Perry Backs Resolution Affirming Texas Sovereignty Under 10th Amendment – Part 1
******************
California Counties Begin Secession – This is how Civil War Begins!
Michigan
Go to: House Concurrent Resolution No. 4.
http://www.legislature.mi.gov/(S(p32jvnrbuinnav55vxcqic55))/documents/2009-2010/Journal/House/htm/2009-HJ-01-22-002.htm
Or try this.
http://www.legislature.mi.gov/(S(wym4kh45ycl3lp45nt254245))/mileg.aspx?page=GetObject&objectname=2009-HCR-0004
Missouri
http://www.house.mo.gov/content.aspx?info=/bills091/bills/HR212.HTM
Oklahoma
http://axiomamuse.wordpress.com/2009/01/07/state-legislator-charles-key-wants-to-limit-federal-power/
Hawaii
http://www.hawaii-nation.org/
Washington
http://apps.leg.wa.gov/billinfo/summary.aspx?year=2009&bill=4009
New Hampshire
http://www.gencourt.state.nh.us/legislation/2009/HCR0006.html
Arizona
http://www.azleg.gov/Formatdocument%26?inDoc=/legtext/49leg/1r/bills/hcr2024p.htm#183;asp
Montana
http://data.opi.mt.gov/bills/2009/billhtml/HB0246.htm
Research the material, be watchful!
Duration : 0:3:8
Mr Mortgage Exposes Wells Fargo’s Toxic Waste 4/7/08
Visit my new blog…
http://mrmortgage.ml-implode.com
Wells Fargo Subprime toxic waste exposed. Do they have to raise capital? Mr Mortgage shows a 2006 Wells rate sheet. This is hard evidence of Wells doing nasty subprime loans for borrowers with scores as low as 500 and 120-day mortgage late payments, which is essentially foreclosure status. They did not sell this directly to consumers, rather used correspondents like New Century, Accredited, Countrywide etc to rebrand the programs and sell them as their own. This is a very common practice but this just proves Wells is dirtier than most. First, because not everyone did subprime. Second, because they lied of course.
Duration : 0:7:48