Doug Jones's (dougj) Blog

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Mortgage and Lending - Mortgage Magic

ARCHIVED BLOG POSTS

2013 

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The Fourth Mortgage Box   For so many years I have told customers that mortgage loans require three boxes; the credit box, the income to outgo box and the equity box. But a bigger box, the fourth box has come into play and that is the Rules Box.   I guess it has always been there but today it has...
01/30/2013

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California - If you own a home you need a Trust   Many think that a trust is for the wealthy or financially sophisticated but not so. The simple truth is if you own a home in California you need a trust.   Why? Probate Taxes. If would seem that Probate Taxes would be charged based on  the net wor...
01/29/2013

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The customer walks into the mortgage brokers office all excited. She has just signed a contract for a 30 day escrow. She qualified some time ago regarding the debt ratio, the down payment and even checked the credit score - but that was 6 months ago. The mortgage broker updates the loan applicati...
01/23/2013

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Maybe it is just a trend for my customers but my last several listings the customers have asked me to not post a real estate sign and to not hold an open house. They have suggested this without any suggestion from me.It could be that I attract customers who want privacy from their neighbors. I kn...
01/20/2013

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Purchase and Refinance Information that is good to know.. The Mortgage Credit Certificate Program (MCC), authorized by Congress in 1984, provides financial assistance to first-time home buyer's. The Santa Clara County MCC tax credit reduces the federal income taxes of qualified Borrowers purchasi...
01/12/2013

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Even though I study Economics and am a member of the National Association for Business Economics I must be the dumbest member...Unemployment rate increased to 7.8% and we know that the real number is approximately 16% but the article I read basically said that everything is getting better. With ...
01/04/2013
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