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Mortgage and Lending - Southern Oaks Mortgage, Inc. - #01458657 | NMLS #236681
Okay, our wonderful Government just instituted a new Good Faith Estimate that all brokers and banks have to begin using as of 1/1/2010.  This estimate is supposed to help take any confusion out of the consumers mind and help them better compare one lender with another.  Hmmmm!  Not so sure that i...
Tax Credit for Homebuyers First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000. Sing...
These are very good questions to ask yourself if you are a Realtor prior to taking a short sale listing.  Living in a sue happy world, you should consider doing the right thing by asking the right questions. Before taking a short sale listing, every Realtor (and Broker) should consider the follow...
The big banks have been trying for years to take over the mortgage industry. Why you ask? Because they see how much money they can make off of the unassuming consumer. Today, the majority of mortgage loans are still originated by mortgage brokers, approximately 60% and the banks aren't happy abou...
Well, Fannie and Freddie are at it again.  It's like a roller coaster ride.  Guidelines and rules seem to be changing faster than a formula 1 racecar.  The rule now regarding one person financing multiple properties is set at 10.  However, the stipulations are that if it is a primary or 2nd home,...
Tax Credit Versus Tax Deduction It's important to remember that the $8,000 tax credit is just that... a tax credit. The benefit of a tax credit is that it's a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said an...
Good question!  The answer to this question is the result of lower mortgage interest rates. A few months ago, many lenders were laying off their underwriters, processors and customer service positions due to the slow refinance market.  Then the Fed decided to purchase $600 billion worth of mortga...
Did you know that when applying for an FHA loan, both spouses have to have their credit run even if one of them isn't going to be on the loan? The purpose of this is to add the non-applying spouse's monthly debts against the actual applying spouse's debts since they are married and will be living...
My Book has finally arrived.  This book is filled with tips & tricks that will help anyone obtain the best loan imaginable.  From tips on how to increase your credit score to how to document your down payment, this book is filled with everything your client would need to know to make sure they ar...

Jeff Eisenberg

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Updated and current mortgage information regarding programs, guideline changes and interest rates to help all Realtors.