Will This Be The Year that The Mortgage Crisis is Resolved? Today we launch our 3rd year of The Mortgage Podcast. 2007 was quite a year for the mortgage industry as the subprime mortgage crisis casued banks to drastically change the programs that had become popular in past years. Now that 2008 has arrived, lawmakers in Washington are getting together to see what can be done to try to put a dent in what has turned into a major crisis. In today's episode we discuss some of these proposals, and as you will hear... some of these concepts still need some serious fine tuning.
For any mortgage inquiries you may have, feel free to call in at 1-800-991-9575 ext. 202. Or feel free to Click Here to contact us!
More Industry Changes In today's episode we discuss attempts by some states to regulate the mortgage industry by not allowing lenders to offer stated income or no document loans. Is this a good idea? Click the title to hear more. And for more mortgage information feel free to call in at 1-800-991-9575 ext. 202. You can also Click Here to contact us if you are looking for loan information.
Option Arm Loans and Prepayment Penalties Today marks exactly one year since we started this podcast. Interestingly enough, this episode was inspired by a caller who had a prepayment penalty on an Option Arm Loan and told me she was counting down to the anniversary date of her loan so she could avoid a prepay. However, as it turned out we carefully reviewed her program and figured out a way to save money and pay the penalty. In today's episode we talk about Option Arms and look into scenarios where it's worth it to refinance during the penalty phase. Please click the title to hear the episode.
We have just moved our audio files to ClickCaster, after we kept them at Streamload/MediaMax which was extremely unreliable. Now thanks to Clickcaster, all files will be there when you want to hear them! For more information on Option Arms and any other mortgage questions, feel free to call in at 1-800-991-9575 ext. 202. You can also Click Here to contact us if you are looking for loan information.
Recent Interest Rate Changes In a prior episode of this podcast, we discussed how people often become too fixated on the rate instead of the payment. In today's episode we talk about recent interest rate changes and how despite the higher rates, you can still save money when you refinance. Click the title to hear the episode. Feel free to call in with your questions at 1-800-991-9575; ext. 202. You can also Click Here to contact us if you are looking for loan information.
Important Information About Condominiums In today's episode we talk about new developments involving the stricter mortgage requirements and how they affect people who are buying or refinancing a condo. Click play to hear the episode, and feel free to call in with any questions you may have regarding this or any other episode at 1-800-991-9575 ext. 202. You can also Click Here to contact us if you are looking for a loan.
Mortgage News Stories and How to Avoid Being One of Them As you may have noticed, there have been a lot of stories in the news recently about consumer complaints regarding mortgage loans. Today we discuss steps you can take to make sure that your loan proceeds smoothly. To hear the podcast, click the title. If that doesn't work due to technical difficulties, feel free to click the title in the blue box on the right. For more information, feel free to call in at 1-800-991-9575; ext. 202.
Mortgage Industry Changes By now you have probably heard on the news that mortgage lenders are changing a lot of loan programs. The loan program that will be most affected is the subprime loan - the loan offered to people who do not have good credit. Today we discuss subprime loans, and we take a look at another type of program that also could be facing changes soon - The Stated Loan. Click the title to hear the podcast; for more information feel free to call in at 800-991-9575; ext. 202
HUDs Everybody likes a surprise every once in awhile, but from the standpoint of a mortgage professional, you never want to see a surprise on the Housing and Urban Development Report. That report, better known as the HUD, is filed with the government after every mortgage transaction and lists all of the fees charged for either a purchase or refinance. In today's episode we discuss recent news items concerning lawsuits that were filed after "HUD surprises". To hear the episode, click the title and for more information, please feel free to call in at 1-800-991-9575 ext. 202.
Debt Consolidation Loan Programs Now that the post holiday credit card bills are starting to arrive in the mail, a lot of people are thinking about rolling their credit card debt into their mortgage. Is it a good idea? Today we discuss how these loans can save you money, and also help you on your taxes. Just click the title to hear the episode.
Option Arm Programs Have you heard all those ads for the "1%" mortgage loans? A lot of people have called in asking about how they work, so today we will explain how these loans are structured and how they amortize compared to interest only loans. Just click the title to hear the podcast.
Amortization and Interest Only Loans Interest Only loans are growing with increasing popularity - but is it really a good idea to get one in today's real estate market? Today we discuss interest only loans and amortization, and we talk about a very popular program, the 30 year fixed - 10 year interest only program. Just click the title to hear the podcast.
Rates - Fixed vs. Adjustable Once you have a mortgage, the question is do you get a fixed rate or an adjustable? Fixed loans will never change, but adjustable rates go up once the fixed period ends. In today's episode we will look at the advantages of fixed vs. adjustable, and discuss actual scenarios where an adjustable rate mortgage would be a better option. To hear today's episode, simply click the title. We always welcome your questions at 1-800-991-9575; ext. 202.
The Most Over-rated Word Is... In today's episode we discuss how interest rates affect your payments. I get a lot of calls from people who do not realize how all of the numbers relate to each other, and that it is actually possible to have a lower payment with a higher rate, and vice versa. Just click the title to hear today's episode, and of course we are always happy to take your calls at 1-800-991-9575 ext. 202.
Some Points About Fees One of the most frequently asked questions is how much are the fees and/or points going to be. Today we discuss how all of these factors relate to the most important factor - the payment. Please click the title to hear today's episode... and don't forget this podcast can be automatically delivered to your computer via RSS Syndication. Our RSS address is clickcaster.com/clickcast/rss/1906.
How Credit Affects Your Interest Rate In today's episode we explain how banks decide what kind of rate they will charge to you, and how your credit history affects your payment. If you have any questions, we will take your calls at 1-800-991-9575 ext. 202.
The Important Paperwork That You Will Need In today's episode we discuss the paperwork you need to save if you are planning on obtaining a mortgage loan. This applies to both purchases and refinances. Don't forget this podcast is available through syndication and is in mp3 format so you can automatically download it into your I-pod and/or Mp3 player.
So You Want to Buy a House? Today's episode is for homebuyers looking to buy a home. There is a lot of information here that is important, not only for first time buyers, but for second, third, and fourth time buyers too. So stay tuned for some tips and make sure you know exactly what documents you will need before you start packing away some of those important papers. To hear the episode, just click the title. Don't forget this podcast is also available via RSS syndication so you can automatically have it ready to be updated for your mp3 and/or Ipod.
Pilot Episode - The Most Important Word You Need to Know We always welcome your phone calls to 1-800-991-9575 ext. 202. Here is a sneak preview of my new mortgage podcast. This is the "pilot" episode.. Today, the importance of having good credit and how people can unwittingly mess up their credit and affect their ability to buy a house. Click the title to hear the episode. We are also available through RSS so you can get these episodes delivered automatically.