ARCHIVED BLOG POSTS
2010
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I saw an article in Reverse Mortgage Daily yesterday with this same headline, minus the questions mark. What is the point of eliminating HVCC and not the AMCs, when the AMCs are the real problem here. The Home Valuation Code of Conduct DOES NOT require the use of AMCs, so why aren't they elimin...
07/28/2010
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I have been slow to join people on the social media marketing bandwagon for my business. I typically use face to face networking through BNI and some chambers, farming my database of closed clients, as well as business to business relationship building. I always thought that using facebook is a...
07/17/2010
During the refinance (refi) boom 6 years ago, many Mortgage Brokers sold clients on the idea of refinancing to lower their payments and/or rate and possibly cash out. We all know the outcome of the cashing out part of that equation, but most people never look at why you should rarely refi to lo...
07/17/2010
I continue to see many blogs about strategic defaults. I am in agreement with the opinion that these are bad for many reasons, BUT what if the strategic defaulter is in their late 60s, 70s, or older? My primary focus is Reverse Mortgages, and many clients call in desperation asking if we can hel...
07/05/2010
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What is the one thing Bill Gates, Michael Jordan, and Phil Stevenson have in common? It's not the money, for now at least, or the celebrity type fame. No, its the one thing we all have and use. This thing is only slightly different if you are orbiting the Earth in space, and even then its a b...
07/05/2010
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Most people throughout the US are lighting up their barbecue grills and headed to the beaches, at least they are here in Miami. As a veteran of the wars in Afghanistan and Iraq, I often wonder how many people truly view the holidays of Independence, Memorial, and Veteran's days for what they tru...
07/04/2010
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Great news for homebuyers under contract who couldn't close before June 30th. The tax credit has been extended! I have two clients that will benefit from this new extension. One that was supposed to close June 30th, but because of title company issues (the REO lender's title company of course) ...
07/04/2010
Rainmaker
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Phil Stevenson, CRMP
"Mortgage Nerd" in Miami, Florida and Texas