I recently changed employers but with some reservation. I really like the guy that I previously worked with and hope to remain long term friends with him. I'd worked with him in the past and jumped at the opportunity to work with him again because we work well together. My issue was with the bank which shall remain nameless in this blog post. They just seemed to have such a backwards process. They wanted files that met the 100% QC test but when we submitted clean files they deconstructed them and then asked us for everything that we submitted in the initial file. Worse than that they contacted borrowers directly asking for the same documents already provided to us. The pricing was insanely high too. Interest rates seemed to be 6 points above daily par rates. There were other issues as ... 06/05/2015

*Affordable Winter Homes for Sale w/ 3 Beds in Goodyear AZ*   MUST SEE! Goodyear MOVE-IN-READY Home for Sale in Palm Valley AZ!  Enjoy the Arizona climate outside as well and entertain year-round with the covered patio, sparkling pool and spa overlooking a well manicured backyard $339,000 MLS 5193681 Beds 3/3 Baths Sq ft 2970  13447 W ALMERIA RD Goodyear, AZ 85395                 Discover Great Homes at:  www.DiscoverGoodyear.com Find out more at www.FindGoodyearHomes.com   Mobile: (480)-369-8277 or Email Me: DaleDresel@gmail.com  Palm Valley community GREAT place to live! Palm Valley is a community located in Goodyear, Arizona. It offers beautiful and safe homes great for families with children or even if you are flying solo-- Palm Valley offers things to do with nearby schools, movie ... 11/28/2014

Zero Money Down; I stand Corrected   I wanted to know if there was a way that I could do a true No Money Down Mortgage and I found the answer. The answer is a resounding YES!!! That is where a lender credit comes in but of course there is a tradeoff. Let me start by saying that here at Plattsburgh Mortgage Company we do not get paid on origination or SRP. We only get paid on volume so there is no benefit for us to charge anything on the back end. I have found a benefit in it for you if you are trying to buy a home, have half way decent credit, but don’t have any money saved for closing costs. I am writing this post as a follow up to another post that I wrote recently about No Money Down Mortgages. I pointed out in that post that while there are some loan programs that allow 100% financi... 07/23/2014

This May Go without Saying but it does Bear Repeating It is imperative that when you are in the process of obtaining a mortgage loan that you do not incur new debt. It is even better if you don’t even have your credit pulled at all. See the image below? (Screen shot of note on the bottom of an actual pre-approval) That is at the bottom of every single conditional approval that we receive.  There is a very good reason for this. When we qualify you we calculate your debt to income ratio (DTI) and that has a lot to do with the risk associated with lending to you. Risk factors such as credit and DTI are calculated in when your loan is priced. If you incur new debts that changes your DTI and with it the parameters of you mortgage. You may not qualify for the same interest rate pricing or fee... 07/18/2014

Late Night Infomercials aside,   You’re still going to have to bring some money to the closing table. You may or may not know that there are still NO MONEY DOWN home loans available for some areas under certain circumstances. I wrote a featured post yesterday about some borrowers that were less than truthful with me through the lending process and I ultimately had to deny their application. One of the comments on that post got me thinking about this. Carla Muss commented in part that “Maybe they thought they didn't need a down-payment because they watched some TV info-mercial at 3:00 AM which suggested otherwise?” and she may be right. What I want to share though is that there is a loan product that still exists that allows borrower’s to buy a home with no money down. That is; NO MONEY ... 07/17/2014

Seriously, we verify and document everything!   I would never come right out and call someone a liar because that would be bad for business and afterall it could just be a series of miscommunications. The thing about obtaining a mortgage though is that everything and I mean absolutely EVERYTHING needs to be documented. Everything that you tell your loan officer will be verified before we get to a closing, believe me! So, I took an application sometime last month and while these people were not the best borrower's in the world they had pretty decent credit and were qualified for the loan. I was a little skeptical because of their ages, at just 19 years old, but I DO NOT DISCRIMATE in anyway under any circumstances. If you are legally an adult and qualified for a mortgage loan I will work... 07/16/2014

Feng Shui considers the people aspect   Feng shui honors individual differences and recognizes every person will respond differently to the various energy qualities in their environment.  This meaning the same space may result in different outcomes for different people. On that same note, how much that given person (s) chooses to engage in the process of transformation will also vary one's experience in personal growth and change.   This also means it does not matter which Feng Shui method is used. One always has to remember, you are the key to living a better life and achieving your goals. Feng Shui and really any other method of energy healing is there to offer additional support during your moments of change.     07/07/2014

I know that this is Obvious but it bears repeating. A couple of days ago I read a post that asked if you can give a 30 year mortgage to an 85 year old couple. The post was popular here on Active Rain and there were quite a few responses that pointed out the obvious. Obvious to anyone who has been in this business for any period of time anyway. The fact is that most people move every 5 - 7 years. Very few people stay in a 30 year mortgage for 30 years. And there are Fail-Safe's in place in place that protect investors in the event of an untimely death. It really got me to thinking about the subject. You see the image to the right? That plaque is hanging on our wall in the office. It's a reminder that we should not be discrimating for any reason at all. So long as a person is qualified fo... 07/03/2014

I write some blog posts to share my experiences with other professionals. I write some for the benefit of consumers. It's rare that I write a consumer centric post that also benefits professionals such as this one. I want to share an experience that I had recently. I am working with a woman who purchased a home on a land contract. There were some issues with the file and we have been working with her here at Plattsburgh Mortgage Company for over a year to help her fix up her credit. So when it finally came time to get her out of the land contract we weren't sure how to do it. When we initially started working with her we had been targeting USDA. However, since she moved into the home she built an addition with a seperate entrance, a seperate electric meter, and her utilities are on a se... 06/25/2014

Double-Wide's have always been notoriously difficult to finance in the past. It is still very difficult to find financing if you are in the market to purchase an existing Double-Wide. There are not a lot of lenders that will finance Double-Wide's because they depreciate in value. There are some very nice Double-Wide floor plans out there. They present an afforable option for home ownership. The only Problem is getting financing on them. Although there are a lot of banks that won't write the loan on a double-wide there is a loan product available that goes to up to 96.5% with 3% allowable seller concessions. This is a great loan for someone with decent credit who wants to buy a Double-Wide. There are some property restrictions but the borrower credit requirements are the same as on a sti... 06/12/2014

      Nice Home - Newly Worked on                         Overview Maps Photos Description                                                   $139,000 Single Family Home Main Features   4 Bedrooms2 Bathrooms1 UnitInterior: 1,909 sqftLot: 18.50 acre(s)   Location     948 PeasleevilleSchuyler Falls, NY 12985USA      Click Here for More Info on This Listing               Christopher S Ohlsen   Plattsburgh Mortgage Company(518) 565-0799chris@plattsburghmortgage.comhttp://plattsburghmortgage.com     Listed by: Remax/North Country          Our recent listings   Nice Home - Newly Worked onAdirondack Lake Home - Mountain ViewsDouble Wide - Financing AvailableSurrounded By Gorgeous ViewsAdirondack Hunting Lodge on Large Lot             Subscribe to our listing feed                Nearby  properti... 06/03/2014

  Why Should You Share Your Marketing Ideas?     To answer this question successfully you should ask yourself what you’re doing in the first place… Are you just trying to attract buyers and leave sellers to work with someone else? Personally, I like to help out my fellow real estate agents...The other side of the coin, of course, is that you do not want to give all of your trade secrets to your competitors... I also share some of my marketing techniques because I know that when someone looking to sell their property reads my blogs and sees the work that I put into driving traffic & generating leads, that they will appreciate it! Once again I am going to share a few things that have worked great for me: 1. Create a Facebook Fan page using Wildfire's free app with Fangate turned on. 2. Ma... 05/30/2012

.style1 {color: #FF0000} Price: $299,000 FIZBER.com ID 7072709 Single Family with 4 bed, 2.0 bath, in Bucks Corners Road CADYVILLE, NY, 12918 http://www.fizber.com/7072709 Bucks Corners Road - For Sale By Owner Property Details: Type: Single Family Address: Bucks Corners Road, CADYVILLE, NY, 12918 Sq footage: 2380.0 Floors: n/a Bathrooms: 2.0 Bedrooms: 4 Year built: 1986 View full property details and seller's contacts. View more New York homes for sale. Homes for Sale by Owner. Description: Just 15 minutes from Plattsburgh and beautiful Lake Champlain, this house is secluded and quiet. Nestled in the Adirondack Park, less than 1 mile from the Saranac River and 3 miles from a public beach. Our home is an energy efficient house supplied with Natural Gas. Sliding glass doors and large wi... 10/10/2008

I can't believe it... I mean, I know that it is true I am just mystified by it. I don't understand why anyone would do something like this... I am talking about an underwriter at an ailing bank. The Bank is HomeComings Financial (ResCap) and I won't mention the individual because I do not want to be sued by her in case she comes across this post on the internet. I have been working on a file for a little while now; This file has been wrought with complication. The borrower is very well qualified with a 757 mid credit score, 20% down payment, and an additional 30k assets in her checking account; very good borrower. The problems that we ran into were with the seperation that she is going through. I needed to show that my client is not responsible for the mortgage payment on her marital re... 06/12/2008

Shopping for an interest rate is one of the absolute worst ways to shop for a mortgage. The really funny part in saying as much is that people become sceptical when it comes to a Mortgage Professional saying that shopping for an interest rate is the worst way to go. The irony here is that a dishonest loan officer will jump at the chance to offer you a below the bottom interest rate that does not really exist for your situation and a Mortgage Professional will tell you the truth.The truth is that I can no more quote an interest rate to someone without taking an application than a doctor can give a proper diagnosis without examining the patient. Of course that is an old analogy but just think about it for a minute... Interest rates are like a reflection of risk factors related to funding ... 06/06/2008

I have seen a lot of posts recently about DATA BASE management. The most obvious benefit to keeping and maintaining a rich data base is repeat and referral business. Sometimes people struggle for business and they miss the fact that a huge source of business is sitting right there in front of them. I get back to everyone whom I deal with in a timely manner. I always get pre-qualifications out within 6 hours and I keep my clients informed every step of the way. Still, there are those people whom I speak with for quite a while who go out in the market and do not find what they are looking for right away. After several months it can become too easy to lose touch with your prospects. It is important to go back through your pipeline every few days to make sure that you don't miss anyone. Thi... 05/28/2008

Priced at $298,000 Bedrooms:  4 Bathrooms:  2 Square Foot:  2,694 Lot Size:  0 Community:  Fildowns County:  Clinton Property Type:  Single Family Detached Year Built:  1998 MLS Number:  128472 Property Description This is a true dream home!! Cathedral ceilings through, built in appliances, and wood galore. Everything in this home just seems to fit together perfectly. This home has been well maintained. Hardwood & ceramic floors, crown molding, ceiling fans, cathedral ceilings. Master bathroom has jacuzzi tub & shower. Full wall fireplace in living room. Oak cabinets in kitchen, recess lighting, stainless steel appliances. Stockade fence in backyard. French drain in front and back yard of house. This home is a great deal! For more information or additional pictures go to  www.85maceyla... 05/20/2008

  I really think that this is an important question to ask yourself. How can you compete if you do not know where the goal posts are? My colleague Travis Carter and I have experimented with this a little bit. In posts like this that reference interest rates you need to take note of the time stamp on the post. I had a client call me up and tell me that Community Bank is offering her a 5.875% on a 30 year fixed rate mortgage. Her qualifications are lacking in that her scores are below 700 and she is looking for a cash out refinance. She explained something to me about it being Community Bank's "secondary product". I called Community Bank to find out what they are offering. I called up and simply asked "what is your rate on a 30 year fixed rate mortgage?" because that is a very common ques... 05/19/2008

Country Wide is Back in the News...And this time they have not come out to deny that they are in serious hot water as it seems to be their customary policy. This time it appears to be 100% true. If you haven't read, the CW Giant has just written down more losses; it seems that they have found themselves in a siutation in where they owe more debt than they own in value of performing assets! What's worse is that a few of the portfolios of assets that they are counting toward their performing assets are questionable at best.Bank of America is planning to renegiotiate the deal from $7 per share to $2 per share or less... and if they cannot come to terms they are considering walking from the deal just like Microsoft did to Yahoo. If BofA walks from the CW deal Cw can definitely not stand on ... 05/05/2008

 Or is it just me? Is anyone else aware of the fact that mortgage interest rates increased today with just about every lender out there by about .375% - .5% or is it just me?...I had a gentleman call in today to inquire about financing a portion of a Co-Op that he is purchasing in New York, NY. He's looking at a 30 year term and is looking for a 5.375% (on a Co-Op... Ha!). I told him no, I cannot get that rate today. He told me that the interest rate is the most important thing and that if I can get him a 5.375% rate today that he will go with me. I sent him an email with 3 options attached, a 30 year (not even close to what he wants), a 20 year (Closer), and a 15 year (closest). He emailed me back saying that my rates are not even close to being the lowest... He also asked me to negoti... 04/21/2008