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Here are some other mortgage brokers and consultants who I have worked with in the past. You are welcome to use any lender or consultant you want to use.
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Information about
FHA and VA loans
1/2010: HUD notice of Increase in Upfront Premiums for FHA Mortgage Insurance.
4/2009: Brochure: City of St. Petersburg, W.I.N. Home Buyer Loan Program “Working to Improve our Neighborhoods”. Housing Assistance Programs. St. Petersburg offers a variety of financial assistance programs available to qualified home buyers who purchase within the city limits.
4/2009: Brochure: Are you having problems paying your mortgage? Learn how to avoid foreclosure and keep your home.
4/2009: Brochure: Shopping for a mortgage? FHA improvements benefit you.
3/2009: FHA Loans Become Popular Choice Newly discovered FHA loans, which require low down payments but charge higher interest to borrowers with lower credit ratings, have quickly become a wildly popular choice for home buyers. The loans require a down payment of only 3.5 percent, while conventional loans require down payments of 10 percent or higher. However, the products also are drawing some unfavorable comparisons to now-abolished subprime loans. Finance professionals, however, stress that unlike the infamous subprime mortgages of years past, FHA lenders go out of their way to verify income and ensure that they are not approving "liar loans." Source: Palm Beach Post (Fla.), Jeff Ostrowski (03/16/09)
3/2009: How Will Foreclosure Affect Credit Scores? The amount of damage to a credit score caused by foreclosure, deed in lieu or a short sale during 2008 and 2009 may be mitigated by the slower economic times, say some credit and legal experts. FICO may have to adjust its credit scores to lessen the impact of a foreclosure in the last two years, says Todd J. Zywicki, a professor of law at George Mason University. "It just seems obvious that a foreclosure in 2008 or 2009 doesn't have as much information value as a foreclosure five years ago," he says. "To the extent that foreclosure doesn't predict future behavior as much as it did in the past, you'd expect that the FICO algorithm would change to adjust for that." One of the country’s largest credit unions Golden 1 has already figured out a way to lend to people with a foreclosure on their record by offering a mortgage repair loan specifically for those who have lost a home to foreclosure and who want to buy a new one. BECU, another large credit union based in Washington State, is about to present a program to fellow lenders, "How to Lend to the Newly Credit Impaired.” Source: The New York Times, Ron Lieber (03/14/2009)
3/2009: How will I know if mortgage interest rates are going up or down? If you want to know if rates are going up or down on your own, watch the U.S. 10 Year Treasury number. You can view it here. Remember: If it's RED, rates are going down. If it's GREEN, rates are going up.
3/2009: If you are waiting for rates to fall before you buy, I would suggest the following: Get your loan application, supporting documents and appraisal at your mortgage broker's office, so you can get approved. You can then wait until the rates come down and then your mortgage broker can lock you in for 30 days. Your appraisal should be good for 90 days, so you will probably have 60 days to wait for the rates to drop to where you would like them to be.
7/2007: Credit bureaux selling your information. I was told of a new "service" (sarcasm) that is being provided by the four national credit bureaus. National mortgage brokers and lenders are buying lists of leads called "trigger lists" from the credit bureaus. These are lists of people who have had a mortgage company pull their credit report, and within 24 hours of having it pulled the credit bureaus are selling the information to other competing lenders. Then these competing lenders are calling the people and telling them what they can do for them. There is a way to stop this. I just did it and it takes about 30 seconds. This is the only pre-emptive action to opt-out of such offers. By utilizing this link to Opt Out you are protecting yourself for 5 Years... www.optoutprescreen.com From Laurie Carnevale, Mortgage Advisor, Coldwell Banker Home Loans
