Craig's Blog

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Mortgage and Lending - DMZ Mortgage
RECENT BLOG POSTS
If your house is in foreclosure, can you make a real estate commission on it?  It's not for me, I am just curious if this is possible. Does anyone in activerain know if you can make a real estate commission on your own home when it is in foreclosure?
06/09/2008
It seems that maybe lenders are using these terms interchangeably or maybe it is just me.  The terms repayment plan and loan modification should be different.  I think lenders are using the terms to have the same meaning. Its like what one lender called a SISA in the past another lender called a ...
06/08/2008
I've been reading that it is easy and tough to get a loan modification.  Which is it? It makes sense for the lender to give a loan modification rather than raising the payments and having the borrower default.  Are lender getting better at doing loan modifications these days?
06/07/2008
Is anyone having any success with preapproved short sales.  I talked to these guys who say they can get my short sales preapproved.  Is this for real? Can a short sale be preapproved or not?  Anyone know for sure?
06/05/2008
Is it better to be a mortgage broker or a mortgage banker.  I always thought the mortgage broker had more options and I read some comments recently that make me thing it might be better to be a mortgage banker. Is it better to be on the mortgage banker side or the mortgage broker side?  Any thoug...
06/04/2008
Is anyone getting fha loans approved and closed with fico scores below 580?  I am having a hard time getting fha borrowers with credit scores below 580 approved to buy homes. Are there any fha lenders offering fha financing for fico scores under 580 out there in ActiveRain?  
06/03/2008
Is there anything short about a short sale? Does anyone else think they should be called long sales or perhaps slow sales?
05/27/2008
I'm still looking into the possibility of getting the bank to accept a lower payoff before the end buyer comes along. I'm hearing all kinds of goofy stuff out there.  Has anyone here had success in getting the bank to agree to a short payoff and then having a "pre-approved short sale" all gift wr...
05/26/2008
Does anyone know how to get the reduced payoff before the buyer writes a contract? It would be nice to get all of the work done beforehand and then the buyer could write a contact for a 30 day close. Anyone have any success with this?
05/21/2008
I am at my wits end with the loss mitigation department of Wells Fargo. I use to like the hold music and now I don't even like that!  Every time they tell me something different.  Ugggh! Has anyone else dealt with Wells Fargo on a short sale?
05/15/2008
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Craig Tone

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I like to hear opinions from others in the industry. Not everyone agrees with me. If you don't, that's fine. Thanks for stopping by.