Archive for the 'Mortgage & Finance reVIEWS' Category
There Is HOPE NOW For Troubled Borrowers!
February 25th, 2008Categories: Mortgage & Finance reVIEWS, North Georgia Real Estate VIEWS
We all know someone who is having trouble keeping up with their mortgage, it might even be you. We need to let them know that there is help. I was reading an article in National Association of Realtors monthly publication titled Help Troubled Borrowers. If you have talked with these people, then they have probably mentioned that there are a lot of people out there that are calling and offering help. Please advise these folks to call 1.888.995.4673, (1.888.995.HOPE).
President George W. Bush announced sometime in the middle of December that he was going to help people in these defaulting sub-prime mortgages. Here is what you need to know to help anyone you know that is having trouble with paying their mortgages on time, or has experienced a rate increase that has made it near impossible for them to even pay at all.
President Bush’s HOPE NOW (HomeOwnership Preservation Foundation) is a voluntary effort by lenders, mortgage investors, and loan officers to help borrowers that are faced with default when their adjustable rate mortgages resets at a higher rate. One of the key parts of HOPE NOW is the interest rate freeze that would give these borrowers time to work out a possible solution.
Here are 7 very important pieces of information that you can tell these folks when facing these hard times. Read the rest of this entry »
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What Interest Rate Are You Paying On Your North Georgia Mountain Cabin?
February 23rd, 2008Categories: Mortgage & Finance reVIEWS, Professional Associate reVIEWS
I would like to introduce a very good friend of mine that I have known for quiet some time, Tracie Griffith. Tracie is a loan officer and the branch manager of All Source Mortgage in Blue Ridge, Ga. Tracie provides excellent customer service and she knows and values the the lending business. Tracie has taken such good care of my clients, and I too value her business and I am proud to have her as part of such an awesome team of professionals that provide first class services and products to my clients.
I have asked Tracie to provide some weekly tips that I hope you will find very helpful in your search not only your next North Georgia Mountain Home or Cabin, but any and all of your lending needs.
Here are the Interest Rates and Programs that are available to you for as of Friday February 22, 2008
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First Thing Everyone Ought To Know About An Appraisal!
December 13th, 2007Categories: Mortgage & Finance reVIEWS, North Georgia Real Estate VIEWS, Professional Associate reVIEWS
Have you ever wondered just exactly what an appraisal is, or what components make up an appraisal? This weeks phone calls have consisted mostly of folks wanting a Realtors advice of what to do when they receive a disappointing appraisal.
What some home owners or buyer’s sometimes don’t understand is that there are many guidelines that Appraisers must follow that are set forth by companies like FannieMae and governmental organizations like the Georgia Real Estate Commission. I have asked a business associate and good friend of mine Jason Farmer who owns Mountain Gateway Appraisal to prepare for me some of those guidelines to share with my readers that are common concerns of those involved in a real estate transaction here in the North Georgia Mountain Real Estate market for a future post. I want to introduce this series of posts with a simplistic answer to exactly what an appraisal is before we look into those guidelines.
A home purchase is the largest, single investment most people will ever make. Whether it’s a primary residence, a second vacation home or an investment, the purchase of real property is a complex financial transaction that requires multiple parties to pull it all off.
Most of the people involved are very familiar. The Realtor is the most common face of the transaction. The mortgage company provides the financial capital necessary to fund the transaction. The closing attorney ensures that all aspects of the transaction are completed and that a clear title passes from the seller to the buyer.
So who makes sure the value of the property is in line with the amount being paid?
There are too many people exposed in the real estate process to let such a transaction proceed without ensuring that the value of the property is commensurate with the amount being paid.
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