ARCHIVED BLOG POSTS

2009 

  REAL ESTATE CLOSINGS WILL TAKE LONGER MOVING FORWARD   EXPECT INCREASE on real estate closings due to the implementation of HVCC and now MDIA. ( REG Z / TILA) I am telling my realtor’s and builders to consider increasing the normal 30 day closing timeline to 45 days if possible. This will decre...
07/31/2009
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LOAN
07/31/2009
  CLAM’S PASS I love this beach ! I would rank this beach #1 in Naples. You can take one step into the water and the tide will take you to the other side of the beach.  The tide is very fast and fishing is Awesome. The area is very narrow and shallow in most spots. The mangroves add another beau...
07/30/2009
  We have a new program that was rolled out recently. We can do 100% financing for veterans with NO CREDIT SCORE. That’s right no credit score requirement. The debt vs income cannot exceed 41% ( DTI) to complete the loan. The products offered are 30 year Fixed, 3/1 & 5/1 Arms. Eligible properties...
07/30/2009
LOAN DOCUMENTS REQUIRED TO COMPLETE LOAN TRANSACTION ____ Original bank statements for the last 2 months. One quarter statement for IRA's stocks etc ____ Earnest Money Contract + cancelled check for deposit for purchases ____ Mortgage statement on the mortgage that we will payoff (if refinance) _...
07/28/2009
  Those who thought the massive Fed Bailout of Banks by both the current and previous Presidential Administrations would cure all our lending ills - are likely disappointed! Despite big cash infusions from Washington totaling hundreds of billions of dollars, the total amount of loans held by the ...
07/27/2009
  HVCC APPRAISALS ARE KILLING DEALS As of May 1, all home loans bought by Fannie Mae and Freddie Ma must follow the Home Valuation Code of Conduct.  Ten Reasons Why HVCC ( Home Value Code of Conduct) is hurting our markets. Appraisals are coming in well below market value or purchase price Apprai...
07/24/2009
Palm Beach Post WEST PALM BEACH, Fla. – July 21, 2009 – Realtor Robert Garrison thought he had put together solid deals for two homes in Palm Beach County. Then the appraisals arrived. One property, west of Lake Worth, had a contract for $257,000. The appraisal came in at $180,000. The other home...
07/24/2009
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What is Red flag? As of November 1, 2007 the Federal and State governments have mandated that businesses dealing in the extension of credit be required to establish certain protocol and procedures for the remediation of Identity Theft matters associated with their clients.    The requirements inc...
07/23/2009
  MARKET UPDATE FOR NAPLES FLORIDA  Rates and oil prices rose as the stock market rallied. We continue to warn that the markets will be volatile. At least for now, these markets will continue to move in tandem. We think the gradual recovery may temper any strong recovery in oil prices or rates. H...
07/22/2009
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