Ed Brophy's Mortgage Update

Mortgage and Lending - Ed Brophy, REALTOR®
A place to learn about mortgages, interest rates, credit and ask the guestions you've been wondering about.
By Ed BrophyApril 3, 2007Yesterday’s news of New Century’s bankruptcy filing got me thinking, who’s responsible for the imploding bubble that is the housing market? Are the lenders, the FED, borrowers, Realtors® mortgage brokers, appraisers or loan officers responsible? Who’s ultimately responsib...
 California and Michigan in the top 2 followed by Texas.  Who would have thought? StateCountTotal Asking Price($) SF Median Asking Price($)       AK7 1,337,300 243,900 AL103 10,349,900 75,900 AR33 2,550,197 54,900 AZ120 35,374,700 231,900 CA1031 411,184,000 374,900 CO234 37,509,900 132,900 CT47 1...
By: Ed BrophyMarch 28, 2007 This is part three of a series. Read: Part One, Part TwoIn part two I promised you a few ways to keep yourself on track and accountable for your spending.My biggest problem was that I had no one other than the puppies to hold me accountable on my journey to becoming de...
By: Ed BrophyMarch 27, 2007This is part two of a series. Read part one here.I promised you a few tips and tricks to use to help on your way to becoming debt free.If you are one of the millions of Americans who find yourself living paycheck to paycheck don’t despair you’re not alone, recent figure...
By: Ed BrophyMarch 26, 2007  This entry is inspired by Dad Gone Mad’s entry “Brother Can You Spare a Dime?” Dad Gone Mad has broken a social taboo in his blog by discussing his financial status. The number of comments he received topped out at 80, all from people who find themselves in similar si...
By: Ed BrophyMarch 20, 2007Face it folks all the indicators are pointing toward a substantial increase in the number of homes that are going to be foreclosed upon. As one account executive from a national lender put it “There’s a tidal wave coming and lenders are preparing for the worst.” An Asso...
By: Ed BrophyMarch 20, 2007When shopping for a refinance or purchase loan I can’t stress enough the importance of comparison-shopping. This past weekend I held an open house for a Realtor®, a couple spoke to me about their mortgage needs, during this discussion they advised me they were working w...
Alright Gougers here's a warning for you.While holding my own house open today I had a nice Greek couple come in who are out shopping for a home and also looking to refinance their current home which they'll keep as an investment.They've been talking with Quicken Loans and Amerisave; Quicken Loan...
By: Ed BrophyMarch 15, 2007 Bank regulators in New York, New Hampshire, New Jersey, and Massachusetts have all served Irvine California based New Century Financial Corporation one of the nations sub-prime lenders with cease and desist orders claiming some of their subsidiaries have violated state...
By Ed BrophySynergy MortgageMarch 3, 2007Brian Papaccio has a great post (Real Estate Commission VS. Mortgage Points) calling into question why it's acceptable for Realtors to charge a 3% commission on the sale of home and it's gouging when a mortgage broker earns 3 points on a loan?  It's a grea...

Ed Brophy

Realtor - DRE #01344385
local_phone(760) 844-3736
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A place to learn about mortgages, interest rates, credit and ask the guestions you've been wondering about.

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