Archive for September, 2006
Larry’s simple explanation of Important terms. It is about how high a rate you are willing to pay.
How High will you go?
Conventional = best rate
Alt A = A little higher rate
Exotic such as stated = higher rate
Sub Prime = A lot higher rate
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Here is a tip Claude
One of best friends dad is named Claude. I mean no disrespect, but Claude rhymes with Fraud. Yep Capitol F Fraud.
Lenders aren’t as busy as they have been. Underwriters, funders, managers, compliance officers, and all who are out to get the bad guys, have more time on their hands. Commit fraud Claude and they will get you. They will. I promise. Whether you be loan officer or borrower, real estate agent or appraiser. If you want to sleep at home and not in a cell, don’t commit fraud Claude.
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Is there such a thing as a 3rd Mortgage?
Sure, but why would you want one? I suggest you only have it on the third house you own.
The point? Lenders take a risk as they go into a position behind another. If there is a foreclosure, the 3rd may have to buy out everyone in front to save his position. So even though it is possible to get a 3rd, you possibly are better off refinancing a new first. This may especially be true with the state of the current interest rates. Larry Cragun
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Breaking News: The bubble is over hyped……
It’s a tiny bubble,
not big trouble.
From MarketWatch.com Here is how they see the data.
Hot of the press.. Click Here and think happy thoughts.
New home sales rise 4.1% to 1.05 million pace
Median sales price down 1.3%, first yearly decline in three years
Mortage Report on products, formerly the Smort Report.
I am going back to introducing you to unusual products. If you have a situation you think is unique, ask me about it. Lar
Try these two on for size. There are lenders that do this. For some reason you need cash out on a 4 plex, more than the appraised value. There is a lender out there that will loan you 125% of the value of a 4 plex. How about on a home and you are in a hurry or for some reason want a drive by appraisal. There is also a lender that will loan you 125% of the drive by appraisal value.
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Is this why we love to hate the New York Yankees?
Steinbrenner guarantees Series victory
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PREV
The interview also touched on Steinbrenner’s health, and The Boss once again insisted he was fine. Now 76 years old, Steinbrenner attended nearly every day of spring training, and he came to about 20 Yankees home games.
Click Here with passion for the Seattle Times article
Or is it because they have A ROD?
Today is quantity day over there and quality day over here.
Who is a person of high quality you would like to mention….why?
BloodHoundBlog and Ardell’s Seattle Area Real Estate Blog are competing for a record of 101 posts or more.
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Our Local Salmon Hatchery Is Getting Real Crowded Now
My wife Kathleen just posted an article on this with some great photo’s. Our town really gets into our Salmon. We have weird spelling for fishy names, have a Salmon Festival, and spend a lot of time watching fish climb ladders. click here and enjoy
