Joseph Crespillo's (jcrespillo) Blog

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Real Estate Broker/Owner - Sellstate Realty First
RECENT BLOG POSTS
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This morning I recieved an email from the National Association of Realtors - Realtor Action Center.  They want our help on two items.FHA Reform S.2338  Ask your Senator to support FHA reform legislation this year.  This is not the cure all, but it does help.  FHA is one of the few departments of ...
12/04/2007
What a great day.  The Raiders have not only won 2 in a row, but two divisional games in a row.  Jamarcus even got to get in and throw the ball and he did look good.If you think about it, we have been in this market about 2 years.  The Raiders have also been in a down market for 2 years.  Maybe w...
12/02/2007
Look out Reverse, there is another player on the horizon.  The EquityKey program is for seniors between the ages of 65 to 85.  The benefits of EquityKey are 1.  Owner recieves debt free cash equal to 12-15% of initial home value(24-30% of initial home value is both homeowners qualify).  2.  No cl...
11/30/2007
Wow acording to www.ml-implode.com 161 lenders or divisions of the lender have imploded since 04/14/2006.  That is almost 10 per month.  I have been in the mortgage business since January of 1977 and if I go back, we have had a correction every decade.  That is all we are experiencing, is a corre...
10/02/2007
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What, in a nutshell, is mortgage fraud?  Mortgage fraud generally involves material misrepresentations or omissions made to deceive a financial institution into funding, purchasing or insuring a mortgage loan.  There are many different types of mortgage fraud that fall into two catagories, "fraud...
01/30/2007
How long do you thing the Option Arm has been around?  By the way, in case you don't know, the reason it is called an option arm is because you get 3 or 4 options on the payment coupon.  1. start rate, 2. interest only at fully indexed amount, 3. principle and interest at the fully indexed amount...
10/08/2006
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Has anyone seen the Business Week with the picture of the house being strangled by a large snake?  The title of the article is called "How Toxic Is Your Mortgage".  A sales person used it on an email they sent me to get me to purchase their program to help me get people out of these types of loan...
10/04/2006
What I would like to do with the active rain forum is create a place that we can go and discuss scenarios that we have that we may be having some trouble with.  Case in point.  I have a borrower who is trying to buy a home wit zero down.  His credit score is average (648) but my sticking point is...
10/03/2006
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On January 10, 2007 I will celebrate my 30th year in this business.  I have done everything from originate to underwrite and everything in between.  I have seen Rockin markets and I have seen the market we are in now.  When times are rockin we sit by the phone and pick it up when it rings.  Now w...
09/28/2006
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Joseph Crespillo

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