Posts tagged as:

Refinance

Can I Hurry Up and Wait to Refinance My New Jersey Mortgage?

August 13, 2009

Procrastination is ever so common with New Jersey borrowers when it comes to their mortgage refinance.  Not only can the delay itself be dooming for the borrower, some lenders are taking 60 days or longer to complete the transaction.  The delay by the borrower combined with the long lender turnaround time means the interest rate might [...]

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Falling Home Prices Spell Disaster For Sellers and Those Wanting to Refinance

August 4, 2009

There’s no shortage of sellers trying to hold out for a higher sale price for their home. Likewise, there is no shortage of those wanting to refinance opting to hold out for the fathom “lowest of lowest” interest rates.
Take this example:  A home for sale at 6 Douglas Lane, Lumberton, NJ lost approximately $11,000 in [...]

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FHA Loans NOT Just for New Jersey 1st Time Homebuyers. Not at All.

June 8, 2009

The rumor that FHA mortgages are only for New Jersey first time homebuyers has circulated for many years.  I have heard it since I first began in the mortgage business many years ago.
Let me confirm:  It is a BAD RUMOR.  Total misinformation.
Anyone can get an FHA mortgage loan – anyone who qualifies of course.  There [...]

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Mortgage Shopping “Online” Versus Finding a Local New Jersey Expert? What To Do?

June 3, 2009

Most will agree that, undeniably,  the Internet is a great source of information about nearly everything.  What can’t you find online?
There are many items I would not (or cannot) buy anywhere else but online.  Things like pricey computer accessories, books, personalized items, car tires (yes, tires), vitamins, and lots more.
But I would not shop for [...]

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Common, But Little Understood Reason Why Many Mortgage Refinances Get Stuck Against a Brick Wall

June 1, 2009

If you are a homeowner/borrower, odds are you have never heard of the term “subordination” as it applies to a mortgage transaction.
But if you are a mortgage holder with both a 1st (primary) mortgage AND a home equity loan or home equity line of credit on the same property, you will find out all about [...]

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Why New Jersey Mortgage Borrowers Are Often Still on the Losing End After Rate Shopping

May 31, 2009

One of the most frequent complaints we hear from New Jersey borrowers is about the interest rate “they thought” they could or would get on their new mortgage loan.  This happens more so when borrowers found their mortgage consultant by either (1) calling several lender offices inquiring about mortgage rates, or (2) relying on Internet [...]

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Your ONLY Chance to Refinance Your New Jersey Mortgage With Less Than Sparkling (Bad) Credit

May 26, 2009

Anyone who has not been living in a cave for the past year have heard the sob stories from lenders and the sad state of lender balance sheets.  Lenders are not interested in loaning money to those with poor credit.  And we must confess, it makes perfect sense.  When there are indications that the applicant [...]

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9 Things You Must NEVER Do While You Wait For Your New Jersey Loan To Close

May 16, 2009

After you apply for a mortgage in New Jersey and you’re told you have been pre-approved, don’t think it’s all smooth sailing to the closing table.  Because YOU might do something to foul things up.  Happens a lot, especially if you were not warned by your loan officer.
Even if you were pre-approved at the beginning, [...]

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Why Does it Seem Everybody Gets a Different Interest Rate – AND Why Didn’t I Get That Dreamy Low “Advertised” Rate?

May 13, 2009

When this subject comes up, I have to mention the car sales business.  I know the two businesses seem very opposite, but they are oh so similar.
Have you ever seen the ads for new cars where you supposedly can get ZERO percent interest?  Yep, we all have.   Have you ever read the fine print?  How [...]

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