Steve's Blog

Another cool feature about Reverse Mortgages is that they are not credit dependent. Your credit score is not a factor in the decision making process. The loan amount you qualify for will be based on your age (similar to insurance products) and the equity (appraised value of home minus any mortgag...

Below is an excerpt from an article in today's Wall Street Journal about Reverse Mortgages. While it's important for seniors to be educated about the product to ensure that it's the right financial tool for them, a reverse mortgage is definitely an option that should be explored, in my opinion. "...

There is still a way to get 100% mortgage financing! There's just one catch. You need to be US military veteran. If you are, you are in luck. A VA loan is the least expensive way to purchase a home in today's volatile real estate and mortgage environment. You can qualify to borrow up to 100% of t...

I can't tell you how often I'll have a potential mortgage customer ask me "What are your rates?", as if this were a black and white question. I think it's the fault of our industry and how we've marketed our product that has people thinking I just have one rate! Yes, banks typically do have a "ra...

I'm currently doing a mortgage for a first time homebuyer who's buying her first home. She has extremely high credit scores (all 3 scores are over 800) and very little debt. She has a good paying, steady job (as much as a job can be steady in today's economic environment!) and has plenty of cash ...

I'm working on a deal currently where my customer needs to refinance in order to keep his home and remove his ex-wife from the existing mortgage and title. My customer has excellent credit but doesn't make enough money for his debt-ratio to qualify for a loan in today's tight mortgage market. His...

Reverse Mortgages are one of the few growing segments of our industry right now and I believe deserve to be looked at by all eligible borrowers. I admittedly do not have a tremendous amount of experience in this niche yet but plan to. A summary of the product in a nutshell: 62 years of age or old...

The simple answer to my question is YES. It makes sense that people who need to sell their existing house before purchasing a new one are stymied by current market conditions. BUT, this is a great time to be a First Time Homebuyer or renter looking to own again. From all accounts, real estate pri...

It's been sometime since I last "blogged". I've gone through some serious personal issues with my Dad. I am going to do my best to provide new posts at least on a weekly basis going forward.Since my last post, the mortgage and credit markets have continued to tighten, the economy has worsened (in...

In these trying times, I know I'm not the only mortgage professional who has considered leaving the field. In fact, many have chosen to over the past 2 years. Former colleagues of mine who used to make a very good living. I'll admit I've explored other options and the grass really isn't always gr...