MLB Enters Its Final Weekend. Root, Root, Root For the Phillies.

Dear Colorado Rockies, My hometown Philadelphia Phillies saved your infield and your groundscrew July 11, 2007. Please return the favor by giving the Phils a chance at the Wild Card if they can't pull off winning the East. Lose a game already, okay? Sincerely, I still hate you Joe Carter

Read More...

[Source: The Mortgage Reports Blog]

Bankrate.com Mortgage Trend Index (September 27, 2007)

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. It's important to note that the survey only covers Fannie Mae and Freddie Mac conforming loans. If you are a jumbo, Alt-A, or sub-prime mortgage holder, the survey is not for you. If that's the case, email or call me and we can talk about the specifics of your situation. Anyway, on to the group's predictions for the next 30-45 days:...

Read More...

[Source: The Mortgage Reports Blog]

How Visa USA Tried To Scare Us All Into Using Its Credit Scoring Web Site

There's a fine line between marketing savvy and outright misdirection. Visa USA may have crossed it. Earlier this month, Visa USA published a "report" titled "Americans Unaware That Employers Can Legally Refuse to Hire Job Applicants with Low Credit Scores". "Wow", I thought, "this would make an excellent blog topic." And I started to write. Only I couldn't shake the idea that this was marketing piece from Visa and not a true report. So, like any other curious person, I...

Read More...

[Source: The Mortgage Reports Blog]

Why Real Estate Data Is Granular And Not Mosaic, Or One More Reason To Stop Reading Real Estate Headlines

These photos represent six neighborhoods in America and their respective real estate markets. They are six very different neighborhoods with six very different feels, each with its own character and flavor. Some have dogs, some are blue, some are smiling -- some are young, some are old, some are blurry. Now, look at the photo below. This photo represents the national real estate market. If you look carefully, you'll find the six "neighborhoods" mixed in. One is in the cheek,...

Read More...

[Source: The Mortgage Reports Blog]

Home Equity Loans

When to Look Into Home Equity Loans Home equity lines can be perfect for a variety of people in different financial situations. Here are some scenarios where a home equity line of credit can come in handy. An Unexpected Expense...

Read More...

[Source: Loans and Mortgages Blog]

Mortgage & Refinance Rates

Finding Today’s Current Mortgage Rate Mortgage shopping for any length of time can be really frustrating. The rates are constantly changing, the refinance programs are constantly evolving and it’s hard to keep up. If you want to be really educated,...

Read More...

[Source: Loans and Mortgages Blog]

On Vox: Mortgage Broker Coaching, LLC

Yesterday we launched our new company, Mortgage Broker Coaching, LLC.As you know, we moved permanently to Scottsdale, Arizona in November after selling our mortgage company (Pacesetter Mortgage) in Michigan.We have spent the last 5 months getting to know our new......

Read More...

[Source: Pacesetter Mortgage Blog]

How to Apply for a Mortgage

3 Quick Steps to Completing a Mortgage Application Online Filling out a mortgage application online may seem very easy. The truth is that no mortgage application, online or in person, is ever that simple, so here are some tips on...

Read More...

[Source: Loans and Mortgages Blog]

First Time Home Buyer

First Time Home Buyer? Shop Around Just because you are a first time home buyer doesn't mean you can't be choosy. When you are looking for your first home, make a list of the criteria of utmost importance and do...

Read More...

[Source: Loans and Mortgages Blog]

Credit Counseling

Better Debt Management with the Help of Credit Counseling If you can’t manage the debt you have then consider consulting with an expert about taking control of your finances. Debt management services and specialists focus on just that, managing and...

Read More...

[Source: Loans and Mortgages Blog]

Credit Card Debt Consolidation

3 Ways to Eliminate Credit Card Debt Are you looking for three simple ways to eliminate your credit card debt? The first one is obvious, stop using your credit cards. This may seem like a silly thing to suggest, but...

Read More...

[Source: Loans and Mortgages Blog]

Read my last post in the Pacesetter Mortgage Blog

This will be my last post in the Pacesetter Mortgage Blog. The Pacesetter Mortgage Blog was started in 2005 and in that time I wrote over 530 articles, had nearly 90,000 visitors, was quoted in Business Week, NPR and US...

Read More...

[Source: Pacesetter Mortgage Blog]

Mortgage Tips

Mortgages — 3 Important Factors When buying a home for the first time, a mortgage can seem like a daunting thing that you don’t understand. Here is some basic mortgage terminology that you need to know in order to make an...

Read More...

[Source: Loans and Mortgages Blog]

Bad Credit

3 Steps to Fix Bad Credit How do you go about fixing your bad credit? Get your credit report and assess the situation. Make small and large changes in your lifestyle to start improving your credit TODAY. No more shopping...

Read More...

[Source: Loans and Mortgages Blog]

Refinance Tips

Spend Less Each Month — Refinance Your Mortgage These days, life seems to come down to monthly payments. If you are stretching to meet your monthly payments on your mortgage, maybe you need to consider refinancing options. If you can get...

Read More...

[Source: Loans and Mortgages Blog]

Why Second Mortgage Loans beat Home Equity Lines of Credit

When it comes to home equity loans, there are mainly two different options: A second mortgage loan or a home equity line of credit. The following article will explore the reasons why a second mortgage is a much better choice...

Read More...

[Source: Loans and Mortgages Blog]

Using a Mortgage Calculator

Benefits of a Mortgage Calculator Mortgage calculators can offer something very important to individual consumers — self empowerment. You don’t have to call your broker every time the interest rates change — you can figure out the costs and benefits yourself with...

Read More...

[Source: Loans and Mortgages Blog]

Five Reasons to Consider a Remortgage

Gone are the days when we took out a mortgage and stuck with it for life, until the debt had been completely repaid. The remortgage market is big business these days, and taking a look at the options available could...

Read More...

[Source: Loans and Mortgages Blog]

Debt Loans

Loans and Debt — A Careful Balance Balancing you loans and your debt is a tough thing to do and it’s very easy to get behind on debt loans. You need to assess your debt situation and really make some changes...

Read More...

[Source: Loans and Mortgages Blog]

Happy New Year!

Mortgage Blog News - I hope the new year is finding you well and ready to forge into another exciting year. We are mostly settled in our new home (pictured to the left) and I suspect we will stay in...

Read More...

[Source: Pacesetter Mortgage Blog]

Home Loans

Home Loan Basics Here are some home loan basics to prepare you in the simplest terms to apply and maintain your home loan. The Home Loan Application Process — The home loan application process is painstaking and very detailed. Set aside...

Read More...

[Source: Loans and Mortgages Blog]

On Vox: My first digital photographic creation

Recently I purchased a new Nikon D80 digital SLR. This photograph is the result of my first day out shooting with the camera. I am also learning to use Adobe's Photoshop Elements (which I used on this photograph) to bring......

Read More...

[Source: Pacesetter Mortgage Blog]

Finding an Alternative to Bankruptcy

When to File Bankruptcy — The Last Resort Bankruptcy is an option for your personal finances or your business finances but this is a last resort option. There are thousands of people who have chosen bankruptcy over a bankruptcy alternative simple...

Read More...

[Source: Loans and Mortgages Blog]

How Setting The Fed Funds Rate Is Like Shooting Free Throws With Your Eyes Closed

The Fed may have lowered the Fed Funds Rate by 0.500%, but we won't know until mid-2008 if the move was good one or not. It's because the FOMC voting members walk a fine line between accelerating the economy, and grinding it to a halt. Predicting the future is actually a subtle part of the job description at the Fed because changes to the Federal Funds Rate create a complex chain reaction in the economy, beginning with businesses and their...

Read More...

[Source: The Mortgage Reports Blog]

How Setting The Fed Funds Rate Is Like Shooting Free Throws With Your Eyes Closed

The Fed may have lowered the Fed Funds Rate by 0.500%, but we won't know until mid-2008 if the move was good one or not. The Fed has repeatedly told us that it is "data dependent", meaning it can't make decisions about the Fed Funds Rate and the economy in advance of information becoming available. So, in this respect, the FOMC voting members walk a fine line between accelerating the economy, and grinding it to a halt. Predicting the future...

Read More...

[Source: The Mortgage Reports Blog]

Getting Mortgages To Buy Overseas Real Estate

By: Rhiannon Williamson

If you live in the US right now you may have noticed that the real estate market is a little sluggish (understatement!) and if you live in the UK right now you may have noticed that everyone seems to want to sell their home to realize the significant amounts of equity that they have accrued over the last ten years or so when the market was riding high.

The unfortunate truth is that neither the US nor UK property markets are heading for a positive upswing again any time soon and so you will just have to ride out the stagnation period and put up with itor, you could sell out now, get out now, avoid the boom bust cycles and the boring day to day talk in the office or at the pub of house prices, crashing markets, mortgage interest rates and how much your neighbour managed to add to the value of his home with that tasty bathroom upgrade!

What am I talking about well, Im talking about moving overseas and exploring new and international real estate horizons basically!

The US and UK housing markets are in a cycle all of their own and the whole world isnt affected no matter how much we Brits and Americans like to think our nations are the only ones on earth occasionally - usually when were winning at international sport!

But to get out and buy real estate overseas for retirement, for a whole new life abroad or just as a vacation home requires financingthose who sell their principle residences and quit their country altogether may be happy to place all their money into a new home, others may not be so quick to commit all their savings though. And of course others of us will require some form of mortgage to buy our overseas real estateso how on earth do you get a mortgage when you live in one country and want to buy a house in another country?

Its actually quite simple. There are three or four main ways of getting mortgages to buy overseas real estate and they are: -

1) Re-mortgaging your current home as with all real estate finance options there are upsides and downsides to this particular path. This path is best taken when you have significant equity in your current property that you can release to buy a home abroad but it does mean your home overseas will effectively be secured on your principle residence. You need to consider that fact carefully, you need to consider interest rates as well as your long term ability to afford to keep up mortgage payments too because you dont want to default, risk losing your home and just having your overseas property safe if you only want to vacation in it!

2) Getting a mortgage from a lender in the country in which youre buying real estate many nations in the world have sophisticated and mature mortgage markets where banks and lenders will lend on property to citizens of any nation as long as they meet various criteria such as financial stability and the ability to make a certain percentage of the asking price in the form of a down payment. Arranging a mortgage locally can also make sense as the mortgage will be in the currency in which the property is being sold and will of course be secured on the real estate overseas

3) Getting a mortgage from an international lender some international lenders have a presence in both your country of residence and the nation in which youre thinking of buying a home. This is incredibly convenient it can mean you are able to put all your banking and finance affairs in the hands of one company thus streamlining your finances, it can mean the lender in questions understands both your needs and situation as well as the local laws and ways of doing business overseas thus making it much easier for you to buy abroad and working with such a lender can also reduce currency fluctuation risks when you transfer the deposit and monthly mortgage costs.

4) Approaching a broker if you think all of the above methods are too messy or confusing for you to get to grips with there is one other alternative you may like to consider. That is using a broker who can assess your situation, requirements and options and go out and find the best deal for you.

Whichever finance or mortgage path you choose to take remember to discuss every angle of your choices and decisions with qualified professional advisers its your money and your real estate so protect it! Having issued that little disclaimer it just remains to say that theres a whole world of property based opportunity out there enjoy exploring it!

Article Directory: http://www.articledashboard.com

Read More...

[Source: Loan Mortgages]

Bankrate.com Mortgage Trend Index (September 20, 2007)

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. It's important to note that the survey only covers Fannie Mae and Freddie Mac conforming loans. If you are a jumbo, Alt-A, or sub-prime mortgage holder, the survey is not for you. If that's the case, email or call me and we can talk about the specifics of your situation. Anyway, on to the group's predictions for the next 30-45 days:...

Read More...

[Source: The Mortgage Reports Blog]

The Fed Saved Americans Nearly $15 Billion Annually Tuesday Afternoon

I fielded a lot of phone calls yesterday from my clients about the Fed lowering the Fed Funds Rate and how it impacts them personally. I love days like those -- it shows me that my clients are paying attention to the financial world and how it impacts them. Education is the benchmark of my practice and I really enjoy talking to everyone, helping them relate the news to their lives. See, in all of the talk about the Fed...

Read More...

[Source: The Mortgage Reports Blog]

Parsing the Fed (September 18, 2007 Edition)

The Fed lowered the Fed Funds Rate by 0.50% yesterday, surprising many market players and defying the "whispers" that called for a 25 basis point change, or none at all. In the statement above -- as explained by The Wall Street Journal -- we can see that the Fed is simultaneously concerned about a recession and inflation. It's an interesting dichotomy. For more analysis, check out Holden Lewis' Winners and Losers piece. It's sunny skies for everyone except the buyers...

Read More...

[Source: The Mortgage Reports Blog]

The Fed Is Going To Disappoint You Today -- One Way Or The Other

It's been slow going getting back in the saddle after last week's trip. A hearty "thank you" to my team at the office that made it all happen while Greg and I were away. Although markets appear calm right now, we're sitting in the eye of a storm. The Federal Open Market Committee meets for the first time since early-August and since that date, it's been a series of disappointments about the economy, housing, and consumer sentiment. Global markets are...

Read More...

[Source: The Mortgage Reports Blog]

Are Mortgage Brokers Evil?

By: Mark Goldstein

In the 1990's everyone was crying about how evil lawyers and contractors are. Lawyer jokes were common tales told around cocktail tables and functions. At the turn of the decade, mortgage brokers were added to the list and they too are under a lot of scrutiny and the pun of many jokes.

Are mortgage brokers evil? The answer is simple no. Are there shady mortgage brokers that will try to con you out of your hard earned money? Off course! Every profession has bad apples! Are these bad apples the majority? No, lets discuss why.

1) Mortgage brokers want your business - Most mortgage brokers work on commission and rely heavily on word of mouth advertising to generate clients. Furthermore, 50% of a good mortgage brokers business is repeat customers; mortgage brokers have an incentive to service their customers properly and keep them in the long haul.

2) The competition keeps them honest - Given the influx of many new mortgage brokers in the last couple of years, the mortgage business is a very competitive field. There are a large number of brokers competing for a small base of customers. Brokers will almost always give you their best rate in order not to loose your business. Remember, brokers dont get paid until they fund the loan. This is also a good reason to speak to at least four different brokers from different companies, let them compete for your loan and you will almost always shine at the end.

3) The law is there to protect you God bless America! We have many laws in this country that govern mortgage brokers and let me tell you that the lending laws are not very forgiving in this country. Mortgage brokers will take a lot of heat when they do shady deals and all it takes is one simple complaint. Make sure you get everything in writing from your broker and you will be protected, simply as that.

The Bad about Mortgage Brokers

Mortgage brokers do not fund your loan themselves; they use wholesale lender and banks to find you the right loan and save you money. The problem arises in how they are compensated. Wholesale lenders do not set interest rates, nor do the brokers. The going interest is dictated by the secondary mortgage securities market. How rates are dictated is a discussion by itself, which is unimportant in our discussion.

Lets simple assume the going "par rate" for a 30 year fixed mortgage is 6%. If the mortgage broker funds your loan at 6% the mortgage broker makes zero in commissions. The higher the interest rate they close your loan with, the more commission they receive. Moreover, if they charge you an interest rate below 6%, they have to pay money out of their own pocket to fund the loan, or charge the client what is called a "discount point" to get the rate they want. Luckily the law has a cap on how much of a commission a broker can make on a particular loan. Nonetheless, your goal should be to lower the interest rate as much as possible.

What is the lesson to be learned here, when mortgage brokers quote you a rate, they have room to lower it; unless they gave you par pricing, which is not likely. Given our example above a broker might quote you 6.5%, where the broker makes $2,000.00. If you are a good negotiator you can get the broker to lower the interest rate, where the broker only makes a $1,000.00 on the deal, you will save big bucks!

Be Careful Of the Fees

By law, a mortgage broker is permitted to charge you a fee for finding you the right loan. When negotiating, dont neglect these fees. Find out what they are and make sure you talk to them about it. Fees are negotiable; dont let anyone tell you otherwise. The thing to ask yourself for when looking at fees is, what am I paying this fee for, is it for an appraisal, notary service, processing etc? Is the fee there because something must be done to fund the loan and is nessesary or is the broker just trying to make some money off of me? Remember, the broker makes his money on the interest rate spread between what he charged you and what the "par rate" is. Fees outside of that are considered "Junk Fees" and should be avoided if possible. If the broker, charged you a super low rate, give him a little, they need to make money somewhere.

Pounding Your Mortgage Broker For The Best Rate

To successfully get the best rate on your loan with a broker, keep in mind that the broker needs to make a living. If you grind them too much, chances are they will not take you seriously and simply not want to do the loan. Be reasonable, let the broker make money off of your loan and they will work hard to get you the lowest rate. The broker can go back to the wholesale lender and grind them for a lower rate, but if there is no money in it for the broker, there is no incentive.

What I suggest is to speak to a couple of different brokers and let them compete. This has been a very daunting task up until recently; luckily there are many good mortgage lender website online that will analyze your needs and match you up with four of the best lenders according to your situation. What would take days to do flipping through the yellow pages now takes 60 seconds online.


rticle Source: www.iSnare.com

Read More...

[Source: Loan Mortgages]

Bankrate.com Mortgage Trend Index (September 13, 2007)

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. It's important to note that the survey only covers Fannie Mae and Freddie Mac conforming loans. If you are a jumbo, Alt-A, or sub-prime mortgage holder, the survey is not for you. If that's the case, email or call me and we can talk about the specifics of your situation. Anyway, on to the group's predictions for the next 30-45 days:...

Read More...

[Source: The Mortgage Reports Blog]