refinance a home

#Newsletters

Why Homeowners Drink Boxed Wine

May 20, 2011March 6, 2019 By Diane Gerdes

Driving to attend my chapter of local MLM2007 (Money Left Me in 2007), I’m worried the Fed and RESPA police will arrest me for not having the correct date on a disclosure or mis-calculating a fee by one dollar. The stress may drive me to drink more than one box of wine a night.

#Newsletters

Is FHA still in the Lending Game?

May 13, 2011March 6, 2019 By Diane Gerdes

Question: On April 18 FHA increased their monthly mortgage insurance, doubling to twice the monthly amount it was a year ago. Why?

Answer: FHA financing was benched during the sub-prime frenzy during 2004 to 2007, because at that time their underwriting and appraisal requirements were perceived as way too strict. For the same reasons soothsayers felt FHA would be immune to foreclosure activity. Their crystal ball

#Newsletters

Wash that oil right out of your life?

May 6, 2011March 6, 2019 By Diane Gerdes

Did you go buy a new electric car or a Hybrid to overt the oil crisis? Me neither. But with rising gasoline prices my contribution to save the environment and my pocketbook, is parking my gas swilling SUV parked in the garden with the gnomes.

#Newsletters

Workin Hard for the Money

April 29, 2011March 6, 2019 By Diane Gerdes

Question: My client makes good money, but his income is not what it used to be. He qualifies for the loan but the lender is having trouble getting him approved.

Answer: In our economic times declining income is more often the norm whether it is for a salaried or self-employed borrower.

#Newsletters

gilligan’s island

April 15, 2011March 6, 2019 By Diane Gerdes

Just sit right back and you’ll hear a tale, a tale of a fateful trip, That started from this…

#Newsletters

Are You Priceless?

April 7, 2011March 6, 2019 By Eric McAllister

Volunteers don’t get paid – not because they are worthless, but because they are priceless

#Mortgage Answers

NON-ARM’S LENGTH

April 4, 2011March 6, 2019 By Diane Gerdes

When there is a direct relationship between any of the parties to a real estate transaction, (including borrower, client, employer, lender, broker, appraiser, seller or builder) the transaction will be considered non-arm’s length. An Arm’s Length transaction would then be a transaction where all the parties involved are entirely independent of each other and have no reason for collusion. Who

2 Comments

#Newsletters

Loan Officers Jump Ship

April 1, 2011March 6, 2019 By Diane Gerdes

Loan Officers to jump ship and go to work at Burger King
Update: Loan Officers have been granted a stay, therefore the execution of changing careers to flipping burgers has been delayed. At least until April 5th.

#Newsletters

First Time Buyer Tax Credit

March 28, 2011March 6, 2019 By Diane Gerdes

Remember the First Time Homebuyer Tax Credit (up to $8000) or the Replacement of a Primary Residence Tax Credit (up to $6500) that expired in April 2010? Both tax credits were extended to April 30th 2011 for Active Duty Military…

#Newsletters

TOO MUCH REGULATION???

March 25, 2011March 6, 2019 By Diane Gerdes

The upcoming implementation of the new LO Compensation rules has given me pause to consider the current regulation that is already in place in regards to mortgages and consumer credit. The brand new Consumer Financial Protection Bureau will be given the task of overseeing this new regulation. According to the CFPB website their mission will be to make sure consumers

Load More Posts