October 2012 - Blown Mortgage

October 2012

Did Your Rate Lock Expire Yesterday?

When the credit markets are closed during the weekend or on a holiday, typically mortgage companies don't issue mortgage rates for that day. They're closed. Some mortgage companies don't close on all holidays however, Columbus Day comes to mind. The markets are closed on Columbus Day but many mortgage companies still have their doors open [...]


When Will Rates Go Up?

When investors in general think the economy is on its way up, that's when. Investors, both institutional and individual invest for a reason: they require returns. Otherwise, there's no sense in investing in anything. One might as well leave all their money in a savings account or a safe back at the ranch. Right now, [...]


The President and Your Rate

Is anybody thinking about who would be better for the housing market as President? Is President Obama on track for a recovery which would boost home prices or would Governor Romney be the best choice when it comes to mortgages? What about mortgage rates, who will keep them lower, Obama or Romney? Actually, who is [...]


The 31 Percent.

When a loan modification request is sent to a lender for evaluation, (remember, there are more than a few modification types) the primary goal is to get the monthly payment down to an affordable level. That monthly payment includes the amounts for principal and interest, monthly property taxes and homeowners insurance, and any PMI and [...]


The Ol’ Switcheroo

Did your mortgage company make you mad? Did your loan officer make all sorts of promises and didn't keep one of them? Thinking about changing mortgage lenders midstream before your escrow closes? Such a switch is, to put it mildly, cumbersome. It's not a situation where you can transfer your loan application and all the [...]


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