Domus Mortgage Services, Inc. is in the process of taking the proper regulatory steps to open a new division of the company. This division, called First Rockland Financial to be headquartered in Rockland County, NY, will have the express mission of utilizing the company's knowledge of the local
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03/26/2008
Do fixed rate mortgage loans have negative amortization? To The Mortgage Guys of Domus Mortgage, this is an interesting question. Most people's initial response would be, "Of course not," And they would be right - if that loan is paid off in its entirety using regular monthly payments, bi-week
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03/05/2008
If you had $100,000, would you invest all of it in a CD (Certificate of Deposit)?Your answer, undoubtedly, would be an emphatic "No." This is because of the fact that bank CDs have a relatively poor rate of return. For instance, right now you would be hard pressed to find a 1-year CD on which y
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03/05/2008
What is a "lifetime cap?" And is the lifetime cap on the CODI or COSI loan too high?This is another tough question faced by The Mortgage Guys of Domus Mortgage. It is one, however, for which we do have a an. For the record, a "lifetime cap" on an ARM is defined as the limit the amount that the
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03/05/2008
In our previous post, Refinance or Purchase Using an Option ARM, Part 1, The Mortgage Guys of Domus Mortgage touched on the notion of negative amortization or, as it is less ominously known, optional deferred interest. The burning questions are, "What is negative amortization?" And, "Is it real
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03/05/2008
If you listen to the radio, read the newspaper, surf the Web, or watch TV, then you have most likely heard of the Pay Option ARM or Pick-A-Payment loan. And, if you have heard anything, it probably is not good. Like any other mortgage product, the Option ARM is neither good or bad in and of its
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03/03/2008
The Research Department of The Mortgage Guys of Domus Mortgage has learned that Daylight Savings Time will commence at 2 a.m. on March 9, 2008. Rather than keeping this valuable information to ourselves, we thought that we would provide a service by passing it along to the general public.As you
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03/03/2008
Over the years, The Mortgage Guys of Domus Mortgage have learned one simple, universal truth: The most vital - and only real asset - is our customer. As a company, we seek out like-minded business partners (real estate agents, lenders, title companies, appraisers, etc.) who share this philosop
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03/03/2008
Boy, I hope so!For any non-Parrotheads out there, this blog title has been borrowed from Jimmy Buffett. Next Tuesday, my wife and I, along with my son and daughter will be embarking on our first family vacation (my daughter is 10 months old). We are going to one of our favorite places, Naples,
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02/29/2008
This is certainly not the scoop of the year, but I thought it worthwhile to pass along. We have learned from our Account Executives that both Accredited and Wilmington Finance have, as of this week, stopped offering Stated Income Loans. Needless to say, the reason for the cessation of the produ
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02/28/2008
