Lonnie Glessner's (lonnieglessner) Blog

Mortgage and Lending - America's Mortgage LLC
I have always enjoyed and take great satisfaction in helping people buy their dream home or buy their first home. Especially with first time home buyers it often can be a long and deliberate process for the client and me. I have seen it take 2 years before. Thankfully, I am persistent and/or stub...
I have read several stories in the last month from organizations like RealtyTrac and others that they estimate that banks own another 3 million homes nationwide that are NOT on the market to be sold yet. This inventory is called shadow inventory and is widely considered to be bad news. Why? This ...
I had the privilege of listening to a conference call from Mortgage Market Guide today as they interviewed Paul Mondor a Federal Reserve Attorney about the Fed's new proposed rules on Reg Z. It was easy to tell that Mr. Mondor does not think highly of the mortgage industry and thinks that closing...
This week totally unannounced FHA made some nightmarish changes to their approved condo list. For decades FHA has approved condo complexes around the country and FHA kept a list of all their approved condo projects on-line. FHA announced some major changes last fall; then, after great outcry they...
Here are 4 points or comments from the Fed after their meeting on Wednesday- •·         They are slightly more optimistic about the economy as job losses continue to slow. •·         Inflation remains subdued. •·         Their MBS purchase program will END on March 31st. •·         The Fed Funds ...
Getting condos approved in 2010 is not an easy task. So, I finally created a checklist of the most important items that can kill condo financing on existing condos with FHA. Now, please know that condo-tels or condos with short-term rentals are not allowed either and condos in a mixed use buildin...
The number one reason to buy a home right now may surprise you. The number one reason to buy a home now is NOT that the first time home buyer tax credit or the repeat home buyer tax credit is ending this spring. However, both of those are good reasons to buy a home right away. The number one reas...
Every fall millions of American families struggle with how to pay for college for their kids. This fall annual tuition for incoming freshman at CU Boulder ranges from $7,932 to as high as $11,782 depending on which school/major they will be in. WOW! On top of that, CU estimates that room and boar...
Last Friday I blogged on the topic that the Denver real estate market may soon become a Seller's Market instead of a Buyer's Market. Why? Inventory is dropping especially on homes priced under $200,000 where inventory is under 3 months. A second great reason to buy a home in 2009 is the exception...
I read this week on-line that in June 47.5% of all home purchases in Denver were with a FHA loan. WOW! I was astounded by this number. Three years ago I bet only 4-5% of all purchases were consummated with a FHA loan here in Denver. I definitely helped increase that percentage then. You see when ...

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