Bi-Weekly Payments
Updated Oct. 9, 2013
Should I sign up for bi-weekly mortgage payments?If you have a mortgage loan, you have been hit with a solicitation to sign up for bi-weekly payments. There is an obvious convenience to having your mortgage payment coincide with your paycheck every two weeks. But do these programs really save you money? And, how...

Housing Market Stats
Updated Oct. 9, 2013
National Association of Realtors Revises Previous Sales Numbers. Some of you may have noticed yesterday's mea culpa from the NAR in which they announced that home sales numbers were overstated for the past 4 years. In 2010, NAR's previous number of existing home sales of 4.91 million was lowered to 4.19...

Who will fill this hole?
Updated Oct. 9, 2013
Perhaps you casually glanced at the article last week buried on the 3rd page of the business section, or 3/4 the way down the Google News page stating that Met Life was exiting the mortgage business. Met Life, the large life insurance company with Snoopy as their company mascot, was the nation's 10th largest...

The Cost Behind a No Cost Loan
Updated Oct. 9, 2013
As a loan originator, from time to time I will have a refinance customer ask for a "no-cost" loan. Anyone considering a no-cost loan should a) know the costs behind the no-cost loan, and b) compare the no-cost loan to their alternatives. Of course, some homeowners may not have alternatives. If you have little or no...

My House is Worth What?
Updated Oct. 9, 2013
If you are a loan officer and have been in this business for more than five minutes, you have dealt with the frustrations of a soft housing market and homeowner's sometimes unrealistic valuation expectations. I am fortunate in that I live and originate loans in Texas. The housing market isn't exactly...

Eliminate Your Housing Payment
Updated Oct. 9, 2013
Years ago, the term Don't Borrow Trouble was pioneered in Boston by Mayor Thomas M. Menino and the Massachusetts Community and Banking Council, and used by Freddie Mac, Fannie Mae, and several banking and lending associations. During the days of easy credit the phrase was meant as a warning for homeowners...