Coopers Point (Mount Pleasant, SC)
By Kevin Breeland, CMB
(Amplify Credit Union)
Every year at this time of year we all start talking about the things we are thankful for and how much we love our families etc. This year is no exception. I was looking at my facebook page and reading many of the post talking about what they are thankful for. I even responded to a post about what was the most memorable Thanksgiving for you. After doing that I looked on my Twitter page to see if there was anything I should read about the there it was....South Carolina Unemployment rate now 12.1%. It hit me like a ton of bricks....12.1% of my fellow South Carolinians are experiencing a Thanksgiving that many of them did not experience last year. It saddens me when I think what my fellow South Carolinians must be experiencing. It reminds me of what I really should be thankful...not just h...
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By Kevin Breeland, CMB
(Amplify Credit Union)
This might date me somewhat but I want to draw your attention to an event that happened with very little fanfare of discussion. It is a further example of the change that surrounds us daily and how it goes unnoticed. November 17, 2009 marked the end of the FHA Streamline refi. Although technically we still have a FHA Streamline product here are a few of the changes: Old FHA Streamline allowed for No appraisal, no max LTV, no income verification, no asset verification, credit scores unimportant, fast closings. If you had an FHA mortgage and wanted to lower your payment without going through the entire verification process you could. It was a very consumer friendly product. New FHA Streamline allows for a new appraisal (not required but "advised"), 97.75% max LTV, income verification, ass...
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By Kevin Breeland, CMB
(Amplify Credit Union)
The New GFE and HUD-1 are coming, make no mistake about that. Regardless of what you have heard about delays, changes, or my personal fav "this will never happen" get ready...it is happening and it is happening January 1, 2010. As a Realtor what do you need to do in order to be prepared for these changes? In order to keep this simple and in the spirit of the length of a blog I am going to give you some tips I think are important to navigate the potential dangerous waters ahead. First, the New GFE puts a tremendous amount of responsibly on the loan officer to give the customer an accurate quote. Ask you loan officer these questions: 1. If he or she is prepared for the New GFE? 2. What training they have been receiving? 3. Are they prepared to sit down and explain it to you? 4. Have the r...
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By Kevin Breeland, CMB
(Amplify Credit Union)
This is very important information about rates and is right on with what to expect going forward.....short translation.....don't think you have the markets figured out.....rates are going to rise, they have too....there is no other place for them to go but up. Rates will start rising soon regardless of what the "experts" are saying. Here are some critical pieces outlining the increase in rates.   Our Government has been very busy over the past few months monetizing our debt. Remember, the deficit is predicted to be, depending on who you talk to, between $1 Trillion to $1.5 Trillion. Yes I said Trillion (12 zero's after the 1). The auction results tells bond traders exactly what the worlds appetite is purchasing America's debt. Yesterday, it was not too good. This is important to watch c...
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By Kevin Breeland, CMB
(Amplify Credit Union)
On Tuesday I had something happen to me that hasn't happened in sometime. In order to do the story justice I must start from the beginning. Upon returning from my son's baseball practice which started right at 5:00pm I was helping him get his trash out of my car. I am probably too "Monkish" about trash in my car but we all have our quirks, that one is mine. When I opened the trash can and let go of the trash I realized a second TOO LATE I let go of my Blackberry Bold and down the trash can it went into the most vile water you can imagine. Swamp Water would have been an improvement. What did I do? Well just like anyone else another split second passed while I determined whether I was going to stick my hand in that to retrieve it. I "Manned UP" and after it I went. When I pulled it from t...
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Mount Pleasant, SC Real Estate Professionals