Jason King's (jasonking) Blog

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Mortgage and Lending - Coastal Mortgage
RECENT BLOG POSTS
Wouldn't this be a nice listing (or mortgage)?According to Forbes and MSNBC (http://www.msnbc.msn.com/id/12917410/) the most expensive home in America is a seaside palace owned by Donald Trump. The property is valued at $125 Million.It is an 80,000 sq. ft. mansion in Palm Springs, FL, complete wi...
08/29/2006
When it comes to lenders assisting FSBO's, I know there are two schools of thought from the Realtor's perspective. The first is that anything promoting FSBO's is bad for the agents. The second is an appreciation for the opportunity to get listing referrals from converted FSBO sellers.I have had r...
08/29/2006
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I commented on another blog post about seller concessions, but I thought I'd expand on it here for a wider audience. Twice recently I've had deals hit speed bumps because seller concession limits weren't understood by the agents and the purchase agreement called for a greater contribution that th...
08/28/2006
Can a HELOC (Home Equity Line of Credit) hurt your credit? Under some circumstances, it can.The reason lies with the revolving nature of a HELOC and FICO's treatment of revolving accounts in their scoring algorithm. Depending on how the HELOC is coded by the lender, they can be devastating to a b...
08/25/2006
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Realtors - do you work with home builders? If so, you may want to look into a mortgage product that is gaining momentum: PITI abatement.This allows the builder to prepay up to six months PITI as an incentive for the borrower. Instead of negotiating down the purchase price, this can be used as a s...
08/24/2006
The Pay Option ARM is taking the mortgage industry by storm. It is an easy to sell product that, on the surface, allows homeowner's tremendous flexibility in how they choose to pay their mortgage; one option is to pay a minimum payment of only a couple hundred dollars. It is marketed as ideal for...
08/24/2006
When hurricanes Katrina and Rita barged ashore in 2005, they left the wake of destruction with which we are all intimately familiar. However, in addition to leveling towns and inundating communities with flood water, it dealt a blow to insurance in the state of Louisiana.Many insurers have pulled...
08/23/2006
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As this is my first post, I would like to introduce myself and lay out the theme for the blog.My name is Jason King and I am a loan officer with Coastal Mortgage Corporation. I work in New Orleans and on the Northshore and am licensed throughout Louisiana. I have been in the mortgage business sin...
08/23/2006
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