Dennis Hensling's (dhensling) Blog

Mortgage and Lending - United American Mortgage
We've all heard the rumor. The big question is whether it will occur and will it only be for purchases? None of us really know. In the meantime it has piqued the interest of several of my current and past clients. Everyone wants to line up for the 4.50% 30 Year Fixed Rate loan. We all know we nee...
It is really unfortunate when all you hear from the media is how bad the economy is. If the number of transactions I am seeing is any indication, the economy is doing just fine. Sure, home prices are down, but doesn't that make them more affordable to more people? Yes, I know we need jobs in orde...
December has always been an interesting month in our industry. There is always the clients who have to close by the end of the year of those who don't want to close until after the 1st of the New Year. This year there is added incentive for many potential home buyers as the temporary loan limits ...
For all of those out there hoping for a short sale or REO offer to be accepted. HAPPY THANKSGIVING!
This is a 5th grade math problem. This is not a trick question (so don't say that a bus doesn't have legs). This is a real math problem and everything you need to answer it is in the following:   There are 7 girls in a bus. Each girl has 7 backpacks. In each backpack, there are 7 big cats. For ev...
For all of you out there who would like to buy a fixer upper with a minimal downpayment there is a loan program for you!   For homes requiring more than $35,000 in rehabilitation there is still the traditional 203k loan. This is one more great program to make the dream of home ownership a reality...
The 10 Year note is down to 3.13 as I write this. This is it's lowest level ever. Does this mean we are going to return to 30 year mortgage rates in the high 4's to low 5% range? Maybe, maybe not. We are watching history unfold right before our eyes. Historically low bond yields coupled to a bank...
THE GOOD - I was referred a client who had been "helped" by a co-worker in refinancing his home. Unfortunately the co-worker only helped himself and put his friend into a Ned-Am loan that was destined for disaster. Falling value, deferred interest and a desire to stay in the home. After reviewing...
One of the biggest casualties of the Mortgage Crisis has been the virtual demise of the Home Equity Line of Credit which had been so popular over the last 5 years. Some of the biggest losses suffered by lenders have come from this product. Most institutions have limited the CLTV, combined loan to...

Dennis Hensling

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