Jerry Wright's (jerrywright) Blog

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Mortgage and Lending - Absolute Mortgage

ARCHIVED BLOG POSTS

2007 

4 Comments
For the past few years it was a snap to get 100% financing on a Non Owner occupied property.  Those days are about gone.  I have 1 investor that I can still do them through.  The only issue it that the interest rate is about 13.6%.  There is a very slim chance that you could get this property to ...
08/20/2007

1 Comments
The media has coined the phrase "Credit Crunch".  Most people that I talk to have no idea what this is or what it means.  All they see is on every news station that more lenders are going bankrupt or cutting programs.  What I will attempt to do here is explain what happened and how it affected ou...
08/17/2007

7 Comments
I was at an open house with an agent of mine last Thursday in Everett, WA.  We were talking about how 3-4 months ago there might be 10-15 open houses on the tour date.  This particular day there was 39!  Granted our listings in the area are up about 51%.  So we were talking with some agents throu...
08/14/2007

5 Comments
With all the stuff happening out in the mortgage industry higher credit scores are needed on a variety of loans.  So I wanted to give some basic information to help people out there maintain there own credit and gives more information to pass on to your clients.  I was teaching a class yesterday ...
08/10/2007

1 Comments
At my office in Everett Washington, I heard these realtors saying that the only loan that was close to 100% was FHA.  This week alone lenders like Countrywide, National City, US Bank and Washington Mutual are all scaling back some of their programs.  There is still a great program or 2 out there ...
08/08/2007

1 Comments
 National City Home Equity and Washington Mutual are among the big lenders that are scaling back their no-money-down mortgage offerings, and some lenders have decided to stop making zero-down mortgages available altogether. The move comes at a time when the number of bad loans continues to increa...
08/07/2007
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