Wednesday, September 18, 2013

Mortgage Rates

Things are happening and do not miss out
Important Mortgage Rates MAY drop call Mr. Will from Jacksonville 904-298-3015 The Federal Reserve will continue its bond-buying program at full blast for at least another month, as the economic outlook remains too tepid to satisfy the central bank.

Thursday, August 22, 2013

Seeing is better than words.

This is a great Supermarket commercial. Not a word spoken, and none needed. People watch you and do not need to hear your words.

Tuesday, August 20, 2013

FHA Changes will help some borrowers, Short Sale, and Bankruptcy. Now how about the Lenders?

The FHA has made it drastically easier for once-struggling homeowners to qualify for an FHA loan. The Federal Housing Administration has announced in a letter to mortgagees that it will reduce the time homebuyers must wait after a bankruptcy, foreclosure or short sale before qualifying for an FHA-backed mortgage. The period had previously been two years following a bankruptcy, and three years following a foreclosure or short sale. The agency has now reduced the waiting period to one year. Credit over all will still play into this. See here about Mr. Will

Wednesday, August 7, 2013

Credit Scores Ever wonder? My credit scores were 610 and we were told we needed 640 or better. My partners Howard and Julie mentioned to me about a very legal and Good way of changing the scores. 1- By lowering the current balances on you credit cards 2- Ask if all payments have been paid on time the last year or so to have you limit increased and Walla scores will go up. Takes a month or so unless you willing to pay for a rapid re score. My thinking is get this done now and get your Pre-Approval for your new home. See our Web Page

Tuesday, July 23, 2013

Friday, July 19, 2013

Buying and Repair plus 100% USDA Loans

New home needs a roof and appliances well FHA does that.
Get that cozy feel with a USDA 100% loan.

Wednesday, July 17, 2013

If they only knew

We are always buzzing around and we are able to help the First Time Home buyer. Ask about the FHA VS the 97% conforming loans. Our last clients actually are paying less than their rent.

Monday, July 8, 2013

The mortgage process word of caution:

The mortgage process word of caution: The loan process can be a scary place for the first time buyer as well as the seasoned buyer. When in the loan process be real careful in your spending and thrift habits. Do not make any unusual changes and or deposits into your checking accounts. Always be prepared to get the paper trail of any unusual events and monies out of the norm. Example client sold a car and we had to track the actual title transfer and the moneys used to purchase the car.

Wednesday, June 19, 2013

It's just a $1,000 dollars who cares!!!

The new Era of lending.
If you are going through the mortgage process, and have an irregular deposit in you’re checking or savings account, normally $1,000 or more, be ready to explain and source the funds. Meaning if it was a gift or a bonus prove where it came from or wait to deposit it in your account until after closing. Lending today is difficult at best so a little tip to be aware of. Keeping in mind your Loan Officer is not the enemy, but a coach in the mortgage process. #mortgagebrokeropfl Mr. Will

Wednesday, April 24, 2013

It is not uncommon

With self-employed borrowers it is not uncommon they are under extension. We ask for the last 2012 Profit and loss and a P/L thru 2013 plus a copy of the extension on both the business and personal taxes. Need to know more

Wednesday, March 20, 2013

Property appraisals not done correctly.

We had to make changes as to my business model but this is worth sharing as the Appraisal process is broken and listen here.


Tuesday, March 12, 2013

Fox Valley new Black Swan additions

http://youtu.be/QYQaQF64S9U4 New residents to the Fox Valley Community

Mary's free information don't ask yourself why

Remember call today 904-553-0366 It's free why wait!

Mary says.

Mary will make small thing all fit together. Call Mary take her up on her offer
Dan was reviewing some papers when Marie entered his office. ” Hey, you’ve been awfully quiet today. What’s up?” asked Marie. ”Oh, I’m just reviewing the results of this little survey I gave to several of my friends. I wanted to know how they would go about finding a new real estate agent if they didn’t know me. I interviewed twenty people and most of them said that they would look for real estate signs in their neighborhood to find a new real estate agent. They felt comfortable using an agent who had done a lot of business in their neighborhood.” “You mean that if a local person went on-line and found a home they liked, they would call the new real estate agent whose name was on a sign in their neighborhood instead of the listing agent,” asked Marie. ”Apparently so,” replied Dan. “I find that interesting. So much for enhancing your on-line presence. You’re better off farming a neighborhood and getting your sign up on as many properties as you can,” said Marie.” “Marie, you should always be working on your on-line presence and give your listings maximum exposure. What if someone transferring to the area from out-of-state found your listing on Realtor.com?” asked Dan. “You do have a point. I’m going to concentrate on getting more listings. It’s just so difficult,” responded Marie. “Marie, it just takes time and determination. You have to constantly fill your pipeline with prospects – leads and referrals that you get. Make sure that you are networking and following up with the people you meet who will be a source of referrals for you. Make good use of the leads you get when doing floor time. Get their contact information and stay in touch with them. Start farming neighborhoods where your niche client lives,” advised Dan.

Monday, March 11, 2013

Self-restraint From Forbes Earlier

Forbes Thought Of The Day “A man without self-restraint is like a barrel without hoops, and tumbles to pieces.” — Henry Ward Beecher

Monday, March 4, 2013

Why me?

Sometimes it is timing sometimes not Sometimes MWfJ

Friday, February 22, 2013

Let me pick your brain

This reminds me of an amusing story about Picasso's napkin. The story goes that Picasso was sitting in a Paris café when an admirer approached and asked if he would do a quick sketch on a paper napkin. Picasso politely agreed, swiftly executed the work, and handed back the napkin - but not before asking for a rather significant amount of money. The admirer was shocked: "How can you ask for so much? It took you a minute to draw this!" "No", Picasso replied, "It took me 40 years". In another story, a machine in a factory has malfunctioned, and the engineers on site can't find the source of the problem. So they call on a retired worker who had spent a long time working with the machine. He comes in, walks up to the machine, looks at it for a minute, pulls out a piece of chalk and draws a circle around the screw that needs to be tightened. He then writes them a bill for $5,000. "$5,000, that's ridiculous, all you did was draw a circle around a screw!" So he writes them a new bill: drawing a circle around a screw: $1. Knowing where to draw it: $4,999. Consultants tell folks, "It is not about your time, it's about the value to your client. When you get it right everybody wins.)

Thursday, February 7, 2013

CAR Buying from a credit union

When you need an auto loan to buy a car, where should you start? Figure out how much you can afford. Buying a car is one of the more expensive purchases consumers will make and for most of us buying a car usually requires getting a loan. When seeking an auto loan, the first thing we ask our members to do is take a look at their budget and decide how much they can afford to pay each month on a loan. We also encourage members to consider the cost of insurance and upkeep on the car, in addition to gas expenses. That helps them figure the total cost to purchase and operate the car. We talk to our members about creating a budget so they understand all their income sources, all their obligations and how the auto loan will fit into their overall expenses. Budgets are useful when making financial decisions of any type. If you do not have a budget, VyStar Representatives will provide a free financial assessment and help you create a budget so you know where you stand when it comes time to get a loan. Compare auto loans - it is more than just the rates. The next step you should take is to compare Annual Percentage Rates (or APRs) on loans. We hope you will consider VyStar first when it comes to new or used auto loan rates. It is always nice to get the lowest rate possible but it is equally important to check to see if the loan provider charges fees and other costs and penalties that may be attached to a loan. You will also want to see what else is being offered that might make one loan less costly than one at another lender. A good example is VyStar's new $200 cash back offer for every auto loan of $10,000 or greater. This cash goes right into your savings account. Understand what zero percent financing means. While on the subject of shopping for the best interest rate, you may notice some zero percent financing offers in the marketplace. Zero percent financing can seem like a great deal but it is not always your best option. Shoppers, the ones who really need it, often do not qualify for this type of loan and can end up walking away with a much higher interest rate. These special offers sometimes come with shorter repayment terms, committing buyers to higher monthly payments and stretching their budget to pay off the loan in a shorter amount of time. It is also an interesting fact that some consumers do not negotiate on the actual price of a vehicle when interested in this type of offer. Sometimes a special interest rate offer comes with a higher price on the vehicle. With all of this in mind, we just encourage you to explore all the details of the purchase and the loan, and ensure you are getting the best value that fits within your budget. Look at the fees and penalties on a loan. When shopping for a loan we hope you will not base your borrowing decision on interest rates alone but look further into fees that might be charged for a loan such as application fees, penalties for missing a payment, a termination fee for paying off the loan early, etc. There may even be an overnight delivery fee or longer wait. Get pre-approval before you shop. Setting up a loan before you go shopping for a car is most helpful because you will be able to focus more on the price and purchase. It eliminates rush decisions at the dealership on down payments, interest rates and monthly amounts that you will have to live with long after you drive the car off the lot. At VyStar you can get a loan set up and a VIP Check issued, usually with little wait time. VIP checks are used to write your own loan up to your approved amount at participating dealerships. If you happen to be out shopping for a car before checking with us, VyStar auto loan financing is also available at many area dealerships.

Tuesday, January 22, 2013

Your Mortgage IQ for today

Did you know? And there are few mortgage companies being created, which certainly helps existing lenders. The government frowns on lack of competition, but this situation has been created in the mortgage banking world - is it yet another in a long list of unintended consequences? Banks such as JPMorgan and Wells Fargo have gobbled up the mortgage market since the recession, as Bank of America and Citigroup stepped back to raise capital. And the consumer pays, now and in the future, through higher rates but also higher prices for loans. Underwriters in the past who could go through 6-8 files a day can now audit 2-3, so companies have to pay 2-3 times the price for underwriting as they did in the past. That is just one quick example of the process, and one quick example of something that is passed on to the consumer - lenders have not become non-profit institutions yet. Write-offs to Remember Deductions in the Loan Process Write-offs are the government's way of rewarding taxpayers when they've done something the government likes. And to judge by the write-offs, the government likes it when people borrow money to buy a house. There are write-offs aplenty, many of which people often forget. Make sure your clients take advantage of every break the IRS will give. Here are a few they tend to forget: Points: According to the IRS, origination fees charged as points must be paid for the use of money, (for example, to obtain a lower interest rate) in order to be tax deductible. Origination fees that constitute a "service fee" are not tax deductible. The question must be asked, "Does the fee apply to the use of money, or is it a service charge?" Pre-payment penalties: Unforeseen circumstances often cause borrowers to pull out of their mortgages sooner than expected. Fortunately, pre-payment penalties are tax deductible, which helps ease the pain. Pro-rated real estate taxes: Even if the seller sent the tax collector the check, chances are the buyer paid a pro-rated portion of the taxes for the year at closing. Be sure they know to deduct their fair share. Pro-rated mortgage interest: Depending on when in the month the home sale closes, buyers pay either a hefty or a tiny amount of pro-rated mortgage interest for that month. Big or small, they can write that off. The Final Closing/Settlement Statement will show just how much they've paid. Home construction loan interest: As long as the construction period doesn't last more than two years before they make the new place their "principal residence," they can write off the interest for that construction loan. It pays to pay attention – all these write-offs can add up to some serious savings when tax time comes around.

Wednesday, January 16, 2013

Just Shut up and look at this

Shut up.... Take the few moments and see this as what cards you are dealt with OPRA http://youtu.be/ZPW3EB5U0bo

Wednesday, January 9, 2013

Thinking about buying a home in 2013

See our EDGE Report Clients thinking of buying in 2013 some options also the perfect loan file