Justin Miller's (jbmortsvcs) Blog

HUD has a program that allows for only $100 down.  That's correct, $100.00.  What is a HUD home and who qualifies?  Below is a link on HUD's website that states "A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD be...

I have been hearing a lot of people commenting on the appraised value of their home whether for a purchase or a refinance.  Many stated that the value has come in low due to appraisers not wanting to have the value too high because they might lose their license or the lender will get very cautiou...

Here is a great script from www.mortgagemarketguide.com.  They state to copy and paste it but I never want to lead someone to believe that I wrote something that I didn't.  I have good news and bad news...which do you want first? OK - here's the good news. Interest rates are at historic lows, mak...

There was a great article in "Origination News" all about fraud increasing in 2008.  That is why it is more important than ever to do with someone that can be trusted.  Many people go onto websites and read in the newspaper about rates.  You have to be so careful with companies publishing rates t...

Below is a great opinion article from The Wall Street Journal that talks about setting interest rates at 4% or 4.5%.  "The problems are price-fixing, taxpayer cost, and a misunderstanding of housing trends. True, the government would not set the prices of the houses themselves. But by fixing the ...

The Fed's been at it again, offering words that sound encouraging at first blush, confirming that their buying program of Mortgage Backed Securities is in full swing and will continue as needed. Of course, the media will pick this up and offer their own interpretation, saying "Good news, the Fed'...

A true mortgage professional will tell you that interest rates are fluid. That is, they are subject to change as market conditions drive the cost to borrow higher or lower. On most days rates are released mid morning. However, if conditions are right, it is possible for them to change at any poin...

Here is some big news this morning.  A new homebuyer's tax credit is being added to the stimulus package that will be voted on.  According to the AP the proposal would allow a tax credit of 10 percent of the value of new or existing residences, up to a $15,000 limit. Current law provides for a $7...

Well, according to Moody's Economy.com we are.  U.S. housing markets from Florida to California have suffered price drops of 50 percent or more from their peak, but now, at long last, a bottom is within sight, likely in the fourth quarter nationally. So are they right?  No one can know for sure b...

I seem to be getting more and more calls and referrals b/c the client and/or realtor was dealing with a mortgage broker/bank that pre-approved a loan and now right before closing it can't be done.  What I have found is that there are a lot of uneducated people in the mortgage industry b/c it is t...