Roger's Blog

 I am often asked "how's business?" My stock answer is "busy, very busy or extremely busy"  I do this because I am usually busy doing something, albeit not always closing a loan.  I can fill up my day with many other activities to include other businesses I operate or simply self improvement acti...

I know everyone who didn't lock in a 4.5% is probably kicking themselves.  Rates have moved up since the inauguration, now their in the high 5'sand some lenders are posting FHA rates close to 7%.  In spite of the hype, I think very few people locked in at 4.5%.  Some weren't ready and some got gr...

In response to the growing number of "buy and bail" scenarios, lenders have implemented new rules when someone wants to call their old home a "rental" and use the rent income to qualify for a new one.  If you can qualify for both payments with your income, then the following doesn't apply. First,...

I get this question every day.  Considering a couple of years ago, we could get someone a zero down loan without much more than a name and a 580 fico score, it can be very frustrating.   Right now, there are still a few options available for zero down loans.                VA loans are available ...

I've been trying to wrap my head around the changes 2009 will bring.  Numerous changes for borrowers and mortgage originators.  Some of The changes are: If a loan is considered a "higher priced mortgage loan", based on a FHLMC published average prime offer rate more than 1.5% over this published ...

Well its been an interesting year for those of us who have survived 2008.  I am an optimistic person and never thought that the market would crash like it did.  Oh, well, its time to get busy making 2009 a better year than 2008. I put together my action plan for the year.  It have many of the sam...

Just last week, we had 5 local people who were involved in a mortgage fraud scheme plead guilty to various charges that could get some up to 30 yrs in prison.  All took some sort of plea bargain reduced to a single charge each.  We get to find out next year what kind of time they will get.  The f...

 It seems the latest hot product is loan modifications.  Many former mortgage companies and others in the business have tried to supplement their falling incomes by getting distressed borrower's to pay them a hefty fee upfront to modify their loan.  I have seen prices form $2500 and up, usually d...

Yes, it is possible to get into a HUD home with only $100.  It has to be a HUD owned home and eligible for the special program.  You can find those homes in your area at HUD.GOV and then search for hud homes in your state.  Here in the Treasure Valley, we have approx. 25 homes listed and most are...

Since we're coming up on a new year, I thought it might be helpful to publish loan limits again.  The CY2009 basic standard mortgage limits for FHA insured loans are:       One-family   Two-family   Three-family   Four-family     FHA Forward   $271,050.00   $347,000.00   $419,425.00   $521,250.00...