Mike Rankin's Blog

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Mortgage and Lending - ClearPath Mortgage Solutions, Inc. NMLS #1394615 - NMLS # 423279
Have you met Dawn McCurdy? If you haven't met Dawn then your missing a key individual on your team. Dawn and I met about one and a half years ago at the local Colonie Chamber of Commerce. We exchanged business cards, but it wasn't until about 5 months later that we were able to finally sit down a...
Forward or Reverse Mortgage - Which one is the right one? Greg called me today from Saratoga, NY. He was referred by a friend of his who is currently in the process of doing a reverse mortgage on his home. He said that he currently had a private mortgage on his condo at 6.5% that had a balloon pa...
Acting Star or Mortgage Consultant - Who do you get your mortgages from?Should "The Fonz" (Henry Winkler), Alex Trabek, and Robert Wagner be allowed to sell you a mortgage? Last time I checked, Netflix and my online banking haven't merged Why do you only see commercials for reverse mortgages, but...
How to Play the Credit score Game: Many people don't know what most impacts their credit score. Very often I hear people state that they don't want their credit pulled for fear of their credit scores being negatively affected. So what is the scoop on how to get higher credit scores and keep them ...
The VA IRRRL stands for Interest Rate Reduction Refinance Loan. This is my absolute favorite loan available. Here is a live example: Jim and Beth recently contacted me about getting pre-qualified to purchase another home.  During this process, I realized that their current loan was a VA loan.  L...
When the deal you thought you lost reincarnates!   About 2 years ago I was working with Bill and Casey to help them refinance.  Their appraisal came in a little bit lower than anticipated which required the borrower to bring money to the closing that they didn’t have at the time.  They decided t...
    We all know the saying that “if something could go wrong, it would go wrong”, right?   This transaction started off with a landlord who had been trying to sell their investment property for the past 2 years with no success.  They had 5 contracts on the property that all fell apart when they ...
  I remember sitting in high school taking a course on personal finance. It was the only high school course that I kept the notes from, besides Spanish :-)  We learned how to write checks, buy a used car, get car insurance, and obtain good credit.  These lessons proved to be invaluable.   It's ea...
  Most of my fellow mortgage brokers will understand this well as the momentum has been picking up recently regarding the BILLIONS of dollars in credits that Mortgage Brokers are giving yearly towards consumer’s closings costs that the CFPB (Consumer Financial Protection Bureau) is proposing to e...
I was in a meeting where a chiropractor was sharing recently.  I heard him say, "Sitting is the new smoking," and right there he had my attention.  There are several news articles that have been coming out the past few years linking long term sitting to metabolic syndrome, heart attack, stroke ri...

Mike Rankin

Mortgage Consultant
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