RECENT BLOG POSTS
I have been a mortgage lender since 1995 and have heard every negative comment, story, rant, and opinion about Private Mortgage Insurance (PMI). I never really understood why people had such strong negative opinions about PMI. I would, from time to time, try and explain that without PMI most p...
Mortgage News You Can UseNovember 16, 2007 The Good News That Does Not Get Reported: 1. Thirty-five percent of the homes in the U.S. do NOT have a mortgage.2. Some 94.88 percent of the loans ARE performing.3. The foreclosure problem in this country is really a story about seven states.4. The bi...
The hubbub over the sub-prime mortgage meltdown has abated a bit. A month ago 151 major U.S. lending operations had imploded since late 2006. In the last month the number has increased to 161 operations. We have seen the Federal Reserve cut the Federal Funds Rate by .5% causing short-term rate...
By David Crisp, Senior Loan OfficerAnn Arbor Mortgage Company ANN ARBOR, MI - Subprime mortgages have now been credited for bankrupting well over 110 lenders and seriously damaging operations at many major mortgage firms. They've reportedly wiped out 5 hedge funds, tens of thousands of jobs, and...
Seek a Qualified Mortgage Consultant to Ensure the Best ResultsAnn Arbor, MI - Until recently, seniors 62 years of age and older have not had the best choices when it came to getting cash from their homes. Traditional home loans only offered the option of either selling one's house or borrowing a...
August 29, 2007 Update: 100% financing is still available. The availability is dependent upon credit score, reserves after closing, and income levels. Appraisal are being scrutinized very carefully as we are in an area with declining values.Rural Development Loans-We participat...
There is a lot of talk about reverse mortgages. What is true and what is false about this program. In this Blog I will try to clear up some common myths and help you, the reader, to have a solid understanding. A reverse mortgage is a FHA insured, government regulated home loan. Only seniors 6...