middlesex county: Assuming A Mortgage - 11/13/10 06:32 AM

 
This past week William Walton asked me if I would post a blog on Assuming A Mortgage.  William has been getting some questions on what is involved in  Assuming A Mortgage and wanted to see what is involved in doing that.
First of all an Assumption of a Mortgage is in the simplest terms:
An agreement between the buyer and seller where a buyer takes over a seller's mortgage and becomes responsible for making the monthly payments.
This can be a big advantage to both the Buyer and the Seller.  The Buyer purchases the house without incurring some of the … (27 comments)

middlesex county: Decline In The Number Of Mortgage Loan Officers In Connecticut. - 11/01/10 10:29 AM
As of today ALL Mortgage Loan Officers who do not work for a depository institution (Banks, Credit Unions, etc.) need to be licensed in Connecticut.  This will have in my opinion a major impact and Decline In The Number of Mortgage Loan Officers In Connecticut.
As I wrote back on August 11th of this year "Make Sure Your Mortgage Loan Officer Is Licensed" as of yesterday Mortgage Loan Officers and Brokers who do not work for a depository institution, needed to have taken a National Test and Connecticut Licensing Test, and past them with a score of 75 or higher in order to obtain … (20 comments)

middlesex county: We Lucked Out - 12/06/09 11:28 AM

 
Well we lucked out.  I wrote a post yesterday as our first snow fall for the 2009-1010 Winter Season was arriving.  We were expecting 1-3 inches here in Middletown, Connecticut, and we lucked out in being on the lower end of that range.
I love New England and one of the things that I love most is our unpredictable weather, and this past week was an excellent example of that.  During the beginning of the week the temperature was mild and in the 40's and 50's, on Friday it was about 70 degrees depending on where you were in … (26 comments)

middlesex county: First Snow Fall Middletown Connecticut 2009-2010 Winter - 12/05/09 12:20 PM

 
It is 5:30 PM and the first snow fall in Middletown Connecticut for the 2009-2010 Winter Season has arrived, and I am sure that this will be the first of many.  We are suppose to get 1-3 inches so I might not have to break out the snow shovels, hopefully the morning sun will melt it a way. 
My wife loves the snow, but has never shoveled it, maybe I will get her, her first snow shovel this Christmas since she like the white flaky stuff so much.  Good thing she does not read my blogs so it can … (20 comments)

middlesex county: Foto Friday - 10/30/09 12:27 PM

 
Not often that I get to see an almost full moon while it is still day light.  Who knows maybe we will have a full moon for halloween.
 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(28 comments)

middlesex county: FHA Appraisal Expiration ........... Change - 10/28/09 07:15 AM
The third and last change that we have been notified of this week is a change to FHA Appraisal Expiration.  FHA Appraisals use to be good for six month, this was both good and bad.  Good because if an appraisal was done on a property, and the deal fell apart, the appraisal would still be applicable for a six month period, and the new Buyers/Borrowers would continue to use the same appraisal, because it was attached to the FHA Case Number.  Therefore, they were able to save money on an appraisal.  The Bad part is that if the reason for the … (21 comments)

middlesex county: FHA Streamline Refinance .......... Change - 10/27/09 12:51 PM
The second up coming change that Kim Neilson our Senior Vice President at McCue Mortgage recently made us aware of, are changes to FHA Streamline Refinancing.  Unlike the up coming change that I wrote about yesterday, this change will only affect existing FHA Borrowers, but given the number of FHA Loans that have been done over the last few years, this change will still an impact on a significant number of homeowners.
The up coming changes to the FHA Streamline refinance guidelines will become effective with FHA case numbers assigned on or after 11/18/09, and are as follows:
Borrower must be receiving a net tangible … (15 comments)

middlesex county: Wordless Wednesday - 08/26/09 07:02 AM

 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(27 comments)

middlesex county: Are We Taking Advantage Of Our Seasons??? - 08/22/09 12:41 PM

The last few days have been really hot sticky humid days here in Connecticut, so I have been having to water the grass and flower more so than usual.  As I was watering the flowers in front of the house I started to notice that they were beginning to show signs that summer is coming to an end and that fall is around the corner.
It is amazing how mother nature knows what time of the season it is, no matter what the weather is like it knows its time.  It knows when it is time to bloom and when … (16 comments)

middlesex county: Wordless Wednesday ....... On The Look Out. - 07/22/09 05:17 AM

 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, andConventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(13 comments)

middlesex county: Do You Have A Purpose??? - 07/21/09 06:27 AM
Most Sales People have goals, whether they are put in writing or not.  But how many of us know what our purpose is, or even ashed ourselves what our purpose is.  You might ask what is the difference, aren't goals and purpose the same?  I would say they are not.
We can have a purpose in life or in business without any particular goals attached to that purpose.  But I do not think that we can have goals with out a purpose, and if we do, then that might be the reason why we fail to meet our goals.
Purpose in … (17 comments)

middlesex county: Speechless Sunday - 07/19/09 12:55 PM

 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(20 comments)

middlesex county: New Truth In Lending Guideline Changes Will Have A Major Impact On Closings #1 - 07/17/09 12:57 PM
For those of you that have not heard yet, there are New Truth In Lending Guideline changes that will take affect at the end of the month, which will have a major impact on Closing Dates for ALL transactions. We will also be seeing RESPA changes by the end of the year, but I do not have any details on those yet.
The purpose and motivation behind the New Truth In Lending Guideline changes is to provide an upfront disclosure to consumers so they will know their fees & charges on the mortgage and have an opportunity to shop before the … (10 comments)

middlesex county: Change To The Connecticut Housing Finance Authority (CHFA) Connecticut Families Program. - 07/16/09 11:36 AM

On April 18th of this year, I wrote a blog "Connecticut Housing Finance Authority (CHFA) CT Families New Refinance Program" on a new Connecticut Housing Finance Authority (CHFA) program called CT Families. 
On July 10th Governor Rell signed a bill which expands the eligibility for the CT FAMLIES program. The new legislation now allows for delinquent homeowners with any type of mortgage (fixed rate mortgages, adjustable rate mortgages, interest only mortgages, etc) to be eligible to refinance under this program. Previously, only delinquent homeowners with Adjustable Rate Mortgages were eligible.
This should provide additional help to families who have fallen … (10 comments)

middlesex county: Food For Thought #2 - 07/14/09 09:20 AM
As I stated in my blog yesterday, I have been in Sales for over 34 years, and there are two things that are closely related, and seem to be a constant regardless of what type of Sales Field a sales person is in. I covered the first one yesterday which focused on continuing to do the things that work for you, and build upon them with new ones.  I particularly questioned why new sales people seem to stop doing the things that are working for them, in hopes of some new gimmick that has not produced any results for them yet.
(34 comments)

middlesex county: Almost Speechless Sunday - 07/12/09 06:32 AM
Finally the whether has warmed up enough and the rain stopped long enough to enjoy the pool, and the kids had a blast.  The three on the right are triplets.

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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(17 comments)

middlesex county: Great Networking Opportunities - 07/09/09 02:39 PM
The Connecticut Middlesex County Chamber of Commerce has a very busy month of July planned.  Besides the upcoming Business After Hours event Monday July 13th that I bloged about earlier this week, they also have three other events that are great opportunities to network.
All three are the week of the 20th, and starting on Monday July 20 with the Member Breakfast Meeting.  The monthly breakfast draws from 600 to 800 members every month and this month it should be a packed house, because Caron Butler, of the Washington Wizards and former UCONN basketball Star will be the guest speaker.
The … (12 comments)

middlesex county: Connecticut FHA, CHFA, VA, and USDA Mortgages - 07/07/09 12:52 PM
These days here in Connecticut as well as in many other states FHA Mortgages have become the main Loan product.  Not long ago Conventional Mortgages were the loans of preference, but with all the changes brought about by Fannie Mae, and Freddie Mac, Conventional Mortgages have become costly and difficult to do.
During this time I have written about these changes and how FHA in particularly has become the loan product of choice. These blogs are a little spread out so I thought that it was time to provide links to some of them so that they could be easily found.
(6 comments)

middlesex county: Speechless Sunday - 07/05/09 01:05 PM

 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(23 comments)

middlesex county: Happy 4th of July!!! - 07/03/09 05:33 AM

 
****************************************************************************************************************** Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(10 comments)

 
George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages)

George Souto

Your Connecticut Mortgage Expert

Middletown, CT

More about me…

George Souto NMLS #65149 FHA, CHFA, VA Mortgages

Address: One Liberty Sq., PO Box 1000, New Britain, Ct, 06050

Office: (860) 573-1308

Mobile: (860) 573-1308

Email Me



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