Your credit could be the 'death' of you if not properly watched over. Better yet, if you don't understand how credit works and how it gets reported, this can sometimes hurt you even more. In Part 1 of your credit, Free Credit Report & Credit Repair companies -- BEWARE !!!!! -- Part 1, I stressed the importance of being sucked into such advertising as 'free credit reports'. You specifically need to understand what catches there are to when obtaining your 'free' credit report. You need to read the small print.      It sometimes doesn't matter how good of a person that you are, but your credit will play an important role throughout your life. It doesn't matter if you are buying a home with a FHA mortgage or a conventional mortgage, you need to know what helps. Not only to purchase or re... 11/18/2007

 Has your dream of buying your new home or refinancing your current mortgage been stolen from you because of broken promises?  Mortgages can sometimes be a complex issue and if you aren't speaking to a mortgage professional that will be upfront with you from the start, then you might know what I am talking about.Home ownership can be such a joy, especially if your transaction goes smoothly. I guess a huge reason why I love what I do is because I have so much passion in what I do when it comes to helping people with their financing needs.  And something that has helped in the last year is meeting others in the industry, especially those here on ActiveRain, that have the same passion and love for what we do. Hence why I want to share some mortgage blogs that can be very educational in so ... 11/15/2007

(Please click onto the song below as you read this) How many times do you here this is free or that is free? There is hardly anything ever free in life. Especially if it is mentioned on a tv commercial. Think about it, commercials cost money and they aren't cheap. One thing that has been a big seller in the last year on tv are companies advertising free credit reports. FREE, FREE, FREE. Sounds like music to ones ears, right? STOP..... you need to read the fine print in regards to each commercial. One commercial in general for freecreditreport.com has a small disclosure at the top of the commercial. It states that the offer is for enrollment in the credit program in order to get a free credit report. Rut Row. What happens if you are the type that rushes to the phone or to their web site... 11/14/2007

  I have been on Active Rain since October 1st, 2006 and I have learned so much and have made so many friends. But I have also earned some business from those that read my blogs and even a few members on AR. Overall, it's been a great experience.I wanted to share this with everyone on AR and those in the public for several reasons. I want to make people aware that blogging is such a powerful tool. Jason Crouch shared a post with us reflecting on his success on 11/8/07. And I wanted to let consumers know that this is a great site to find professionals that you can trust and those that have your best interest in your transactions. Even if you have a question, many of us are willing to help you.   One great asset about blogging is that I have been able to reach people from all over. Not o... 11/12/2007

  Veterans Day in my opinion is not only a day which we remember those that served are Country, giving us the freedom that we have today, but those that serve us actively as I speak. If you don't know much about Veterans Day and how it came about, please read this from Wikipedia: Veterans Day I have been very fortunate to have never lost anyone close to me during War time or even during 911. My thoughts and prayers go out to those loved ones lost during these emotional times.  For many of you that know me, I am very passionate about our Country, who we are as a Nation, and for what we stand for. I have had the pleasure of serving in the US. Army for 2 years and I will never forget that part of my life. Here is a nice tribute relating to Veterans Day : Veterans Day Salute  (please watch... 11/11/2007

Buying your first home can be intense. It can not only be one of your largest investments in your lifetime, but might be one of the biggest responsibilities that you take on also. You first consideration should be weighing your options in regards to renting or buying. You then want to talk to a trusted mortgage professional in regards to your financing options, your goals, and any questions that you might have. This loan officer should not only tell you what you can qualify for, but make sure that you will be able to handle this type of transaction.   One of the biggest issues that I have seen when sitting down with someone prior to purchasing a home is that the consumer doesn't have much money to work with or wouldn't have any cash left over after buying their dream home. Sure, so man... 11/09/2007

Did history classes bore you to death when growing up? Do you feel like this when reading a mortgage related topic? Gee, it can be tiresome talking about them sometimes. But because I have so much passion in what I do when it comes to helping people with their financing needs and because I love what I do, it makes it that much easier when talking about mortgages. And something that has helped in the last year is meeting others in the industry, especially those here on ActiveRain, that have the same passion and love for what we do. As stated, mortgages can be boring and confusing at times. It doesn't help when some loan officers don't take the time to walk you through the process. One piece of advice, no matter if you are purchasing or refinancing, if it takes more than a full day to get... 11/04/2007

  Made you look, right? There are so many things that are important to your blog becoming a success. And you want to get readership, right? Do you write to those members on Active Rain? Try to get popular and to climb the ranks on AR? Or do you write to the consumer. Just some things to ponder. A catchy title is important. What if the blog is about boring details relating to the mortgage industry. Get creative from time to time. Here is an example of being creative in a blog.Mortgages : How would you like your mortgage served to you?  Here is one that I thought had a great title with a great picture. But someone deleted my picture because of a complaint. Your BLOG is a piece of Meat, USDA prime  I had a picture of a naked woman with a piece of meat over her breasts.  Would I do this all... 11/03/2007

    What is the FHA 203(k) Loan?  The FHA 203(k) allows homeowners and homebuyers an opportunity to purchase or refinance existing homes and finance 110% of the costs needed to improve the home!  The 203(k) is ideal for neighborhood revitalization!  This program is one of the fastest growing mortgage programs in the country.                                                                                       OR               What you can do with the FHA 203(k):   ☆       Include all repairs in the mortgage - with a minimum of $5000 in repairs ☆       Eliminate health hazards ☆       Put on an addition  -  add a second floor ☆       Remodel a kitchen, bathroom, etc. ☆       Replace Siding, roof, gutters, downspouts, etc. ☆       Update the plumbing, heating and electrical systems ☆     ... 11/02/2007

 So, how many of you have an Alter ego? Can it get your more business or help you lose business? What about people in your office that might have an alter ego? Do they disrupt your rhythm within the office?  Drive you crazy?  Make you, your company, or your industry look bad? Can an alter ego be compared to a bad drunk? I think so. Many of you have heard of Dr. Jekyll and Mr. Hyde. This is a prime example of an alter ego. Could you be very polite with your clients at first, getting them into the door. And throughout the process start to become moody, irritated at every little question. Possibly jumping down the clients throat at times?Believe it or not, it's out there and this has nothing to do with Halloween. The ego can be such a fragile state of our being. But it can also be powerfu... 11/01/2007

 It's Halloween.... How do you market yourself? I use to go around delivering pumpkins to real estate offices with painted faces on them and my name painted on the back. I am always impressed on the different marketing techniques that Google has to offer. But in all honesty, I am a little disappointed in this years image in regards to Halloween. I personally find in bland and boring. But then again I just do mortgages for a living. But I do consider myself very creative. How do you consider yourself? What do you think about Google's Halloween image?   The importance of marketing should be a part of everyone's business plan. Whether it's mortgages, real estate, selling ice cream, etc, etc.  There are many ways of marketing yourself. One popular form of marketing recently has been bloggin... 10/30/2007

The Cherry Hill Real Estate market is doing marginally better than Camden County as a whole.  Pended units through September are up by 16 units and Sold units are up by 12 versus the same period in 2006; listed units are also up by 48 units in the same period.  This has led to a current inventory of 682 units.  Cherry Hill has been averaging 74 units sold per month which means there is currently 9 months worth of inventory in Cherry Hill.  This is marginally better than Camden County which has a 10 month inventory.  Year to date through September, Cherry Hill has an average sale price of $289,209 which is 0.7% lower then the sold average in 2006.  What does all this mean?  It means that Cherry Hill is doing better than most towns in Camden County, however it is closely following the ove... 10/17/2007

 Is your money tree bare at times for giving free advice? I am sure many of us have done this from one time or another. I just hope you don't do it often. It can have an affect on you. Sure, we all need to make a living. And I know there are a lot of helpful people in this business. Not to pat myself on the back, but I know I am very helpful, outgoing, sincere, and won't turn too many people away. I just love helping people.Two nights ago I received a phone call from a consumer in Texas that had read one of my blogs. She was actually buying her first home with her husband. I didn't answer the original call which was at 11 pm, 10 pm her time. Her first words to me where, "I read that you are the FHA Expert." She goes on to tell me that they are suppose to close in a few hours. Hey, I be... 10/13/2007

How does a loan officer compare to the life of a doctor that performs surgery? One thing for sure is that there is no comparison when it comes to the years of schooling that one has to go through to become a doctor. Matter of fact, you don't even need to have an education to become a loan officer. This might sound scary to many because buying a home is one of the biggest investments that one will make in his or her lifetime. Is education needed to get by in life? Is education and college important? Can you be successful without a college education?  Yes and no. Here are just a few that never had a college education.Thomas Edison, Benjamin Franklin,Henry Ford, Walt Disney, Woody Allen, and Edgar Allan Poe. There are some big names here. What does this have to do with loan officers and do... 10/12/2007

 Aren't mortgages confusing enough? It doesn't matter if it's a FHA, conventional, VA, or subprime mortgage. Let's add some more confusion. Most of us know what the rate is in regards to mortgages. Rate :  A charge or payment calculated in relation to a particular sum or quantity: interest rates. (from answer.com)  APR (Annual Percentage Rate) :  Is the cost of your credit expressed as an annual rate. This is a federally required formula, designed to help the borrower compare the cost of credit. The APR rate is different from the note rate of your mortgage and is usually higher than the note rate. Why is this?The APR is usually different than the rate because the APR includes certain fees which are calculated into the actual rate. The problem with this is that so many people tell you to... 10/05/2007

Are you one-sided?  Do you think you know it all?  Do you pass judgment so quickly?  Or are you the reasonable person that will not judge so quickly, look at things from both sides, from all angles, before you make your decision?For many of you that might have been thinking where I have been, I just decided to take some time away from AR for many reasons. But boy, do I need some time to catch up on the current events that have taken place. And all of this goes to my point that I am trying to present at this moment.  Just yesterday, I wrote a blog titled, HUD / Down Payment Assistance programs -- DPA & Nehemiah -- Alive for a while..... To quote Brian Brady in regards to this post, he said, "the conversation, while lively, is very informative." I had one individual that was against what ... 10/03/2007

 Down Payment Assistance programs have been halted, but not dead as of yet. These programs have been known as DPA programs and are most used in conjunction with Nehemiah and AmeriDream®, Inc. There are other non-profit companies that have handled the DPA program, but these two are the largest. Personally I have always used Nehemiah and have found them very useful. The word out on the street is that as of today, October 1st, 2007, these down payment assistance programs, DPA's, have been stopped.  This would have severe implications on many FHA home buyers and even some conventional mortgages. Most of these buyers are first time homebuyers. There are over 1,000's of home buyers a year that have utilized this program. You wonder why anyone would even want to put a stop to this type of prog... 10/01/2007

Lately I have been reading so many comments stating that they don't see much FHA activity in their area because home values are higher than the FHA loan limits in that particular area. Here is a list of the current FHA limits : https://entp.hud.gov/idapp/html/hicostlook.cfm   Believe it or not, FHA/HUD approved new loan limits about 1 1/2 years ago. The next step is for congress to vote on this new bill and to accept it. President Bush already has ink on his pen, already stating that he will approve this new bill after it is accepted by congress.  FHA Loan Limit Adjustment Act of 2007 (Introduced in Senate)  This bill was introduced into the Senate on July 17, 2007. For more on this bill, please read [S.1805.IS]  And on July 24, 2007, Mr. Menendez, a Senator from New Jersey, was added a... 09/04/2007

 Who makes up these rumors? Subprime borrowers were taken to the bank because you can make more money on them and because it's easier.  Folks, the same amount of money can be made on a FHA borrower or a conventional borrower, just as a subprime borrower. FHA loans just sometimes take more elbow grease and knowledge to help the borrower out. Many lenders were either lazy or weren't FHA approved. And now to say that FHA is back, when it never left, is ridiculous.  As the subprime meltdown started making headlines, we saw a lot of finger pointing. Ron Withers mentions that in his post, The Mortgage Mess: Stop the Blame Game and Fingerpoint Pointing-Let's Work to Solve the Problem!  I agree, we need to work on solving the problem instead of trying to figure out who is too blame. My opinion?... 09/03/2007

With the mortgage meltdown back in the beginning of the year for 2007 which has carried throughout the summer, FHA has become popular again. Kris Wales wrote in a comment that she received an e-mail from a loan officer stating that FHA is back. She wrote back stating that it never left and this is coming from a realtor. Folks, FHA has never left. If your lender or loan officer can't offer you a FHA mortgage and your credit is less than perfect, then please seek out a mortgage professional that can offer FHA financing. Otherwise you might be going backwards. But that loan officer is just trying to make you feel comfortable to earn an extra buck. Sorry, but not everyone is looking out for your best interest.  This post brings me to a conversation that I had with another loan officer. He w... 09/02/2007