Understand Your ARM

Earlier this week a borrower called and informed me she was in a ARM, and was afraid it would adjust and did not want to incur a higher payment. She did not understand the terms and request assistance in understating the terms. I asked her to pull out a copy of her NOTE and read to me the Terms To help her...

Mortgage Rates January 20, 2009

Mortgage Backed Securities (MBS) Closed lower today, increasing Mortgage Rates (see Real Time Rates).  The DOW and all other major indices produced losses as the United States welcomed its 44th President. I guess the markets figured everyone was at the inauguration and wouldn’t notice the selloffs. Bank...

It Is Offical Barack Obama Is Our 44th President

It Is Offical Barack Obama Is Our 44th...

Truth In Lending (TIL) – Amount Financed Box

Today I received an eMail from a client asking “Can you explain why on the Truth In Lending disclosure it states my amount financed is lower than my loan amount?’ That is a great question. Amount Financed. The amount financed is the loan amount applied for less the prepaid finance charge. Prepaid...

What Is Mortgage Planning?

The mortgage is the largest debt and monthly expense that most clients have. Mortgage planning integrates the client’s mortgage with their long and short term financial goals, focusing on payment and equity objectives. Mortgage Planning helps Define Financial Goals. Mortgage Planning Provides Customized...