Craig's Blog

Has anyone else noticed that lenders seem to be taking a long time to foreclose?  Some of these homes that are vacant haven't had a mortgage payment in a long, long time.  Call it anecdotal evidence, call it what you want, it just seems to me some homes are sitting without going through foreclosu...

Does anyone think the lenders will pay yield spread premiums for completing loan modifications? It seems to me that would be the best way to get these done.  Anyone ever heard of that or think that might be possible?

I've seen mortgage brokers first (1) selling option arms and then move onto (2) FHA loans and now they seem to be flooding in (3) the loan modification biz.  Should that even be a business? I mean, I'm seeing friends of mine getting loan modifications for free by calling their lender and being pe...

I talked to a friend today who got a loan modified to a 4.67% fixed rate just by asking the lender and being persistent. It can be done!

I'm curious if it matters or not?  Some clients seem to want to ride around in the nice car all day and never buy anything.  I'm thinking if I had a cheap car with no A/C, they'd write a contract right away and not want to drive around so much. What about you A/R community?  Does it matter if you...

Has anyone on Active Rain outsourced a short sale to a loss mitigation company?  If so, what kind of job did they do and did the lender pay the fee or did you get stuck with it? I'm thinking this might be a way to delegate some of the workload.  Then again, maybe just creating a different kind of...

Be honest.  I want some unadulterated honest answers. Tell me the truth.

Someone was telling me that you can cancel your mortgage loan if there are errors on your loan docs.  I'm not talking about three days later, but years after you closed your mortgage loan. Is this true?  This seems like another one of those mortgage scams that sounds good but it is really bogus. ...

Outlook is great.  Someone calls, I put their name in there and PRESTO! I have all of my notes in front of me of when I talked with them last, their company, etc.. Anyone else use Outlook or any other contact manager?  Or are all of you doing it by memory? My memory isn't so hot, so I use Outlook.

Does anyone have any creative ways to break the news to someone that they are upside down on their house?  Just curious.  I mean it's kind of like breaking bad news to someone.  Is there a nice way to tell people, or maybe a humorous way, or what... How do you tell people they are upside down?