Musings and Thoughts from Western Colorado

Mortgage and Lending - Major Mortgage USA/Branch Manager
A collection of random musings and thoughts about Mortgages, Real Estate and Western Colorado
Thank you to Dan for this question.We are currently in the market for a manufactured home.  Our mortgage broker suggested that we go with a modular home (6.1% interest vs. 6.7% interest).  We spoke with some manufactured home dealers that also offer the homes as modulars (revomal of the frame).  ...
 The last few years this little speech has been so easy to do, especially in Colorado; where anybody could call themselves a mortgage broker as long as say Resmae or someone would sign them up.  But today it is different.  Yesterday we saw the Fed cut rates for the 3rd time in the last 4 months. ...
(you all recall the Princess Story. Well maybe it has changed some)A few years ago in a profitable and booming real estate market live a "sub prime "borrower. Every night on the television news they heard the talking heads speak of amazing riches to be had in the booming real estate market.  Ever...
 To be honest I do not know where to start.  At least the bail out is only for those that occupy the home and not for investors.  Looks like if you have a "subprime" loan from 2005 and on your rate will be frozen for 5 years.  It appears that only those that are "current" and if the reset would b...
was a lot of little things, but as I clean out my in box last night, I came across the gentle reminder that the 25th reunion is next summer.  And as I wandered thru some blog postings last night and visited with some friends on the phone awash in thoughts of campus life and the partys and the lat...
    I received this little survey today and well lets just say it got me to pondering this market again.  Now I know that real estate is LOCAL and the news is NATIONAL, but I wanted to share this link with you all.
 I have been stewing on this all day and I don't know if I will hit the submit button when I am finished typing this, but........I have a client with a 700 plus score and full documentation loan.  This one is so easy it is scary.  So why am I stewing.  Well, I firmly believe that this client is b...
What do these 3 words have in common other than starting with the letter M?    Just that most people use them like we use the word xerox for copy.  And why should you as a real estate professional care?  I mean aren't they basically the same thing, built in a factory and way cheap? Right? And to ...
  I just finished my first "training" on the new FHA Secure program.  You know the one that is designed to bail out all the adjusting ARMs. The program is set up to help those that have fallen behind because their ARM has reset.  But what about the person that has not fallen behind on the house p...
  After reading Jeff Belonger's post from yesterday about Free Credit reports, I had a meeting today with a company that claims to be able to fix your credit report. And it is not free, but the first consultation is free, but after you sign up they charge $70 for that and then it is $45 a month. ...

Joe Adams

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