Rick Reynolds's (themortgagejockey) Blog

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Mortgage and Lending
RECENT BLOG POSTS
Read the fine print whenever signing a contract.  It is written in fine print for a reason.  The hope is that you will not take the time to read it and discover what your real terms of condition are! I prefer to live out my lifeat the beach rather than in a prison cell. Angie's list recently anno...
07/07/2011
Apartment landlords are enjoying rising rents and falling vacancies. The average effective rent, the amount paid after discounting, was $997 in the second quarter of the year, up from $974 a year earlier, according to a report scheduled for release Thursday by Reis Inc., which tracks leasing data...
07/07/2011
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I have recently eluded to the changes that have affected the mortgage industry and the detrimental affects that is has had on mortgage qualification process.  Borrowers are increasingly becoming more frustrated with the mortgage process and eventually unhappy with their purchase transaction. Belo...
07/05/2011
I will preface my statements by saying that all regions have specific geographical and economical differences and the list below is more general in nature but powerfully accurate and relevant in most of today's regions across America.  1) Home mortgage rates are at or near historical lows As mort...
06/29/2011
It seems as though MI companies recently have been trying to get creative with the way they are structuring their new mortgage insurance guidelines.  When the mortgage market tightened up, most borrowers could no longer qualify for a conventional loan with 5% down let alone 20% down.  MI companie...
06/20/2011
If you're considering buying a house in the near future, have your credit pulled as early as possible by a mortgage company or mortgage bank and only a mortgage company or mortgage bank!       There are many so called free credit reports that one can obtain to review their own credit once a year....
06/17/2011
VA(veteran of the military) - If you are a VET, you are in luck.  In most cases you can be back into a new home in as little as 2 years after a foreclosure, short sale or BK -7. If there were extenuating circumstances, as little as 1 year!  FHA - FHA is pretty lenient as well. Here is the breakd...
06/17/2011
 Bad loans growing    The country's No. 1 lender is in for a world of pain. Bank of America could be facing as much as $27 billion in mortgage-related losses over the next three years -- on top of the $46 billion the bank has already booked, a total that has crippled its shares over the past yea...
06/14/2011
Each week I identify a great way to easily raise your credit score. Did you know that by raising your credit score by just a few points could save you thousands of dollars over the life a loan? Here is the simplest way to do it.                                                   Click this link  h...
06/13/2011
    The answer would be an astounding YES!         Many Mortgage companies are now reporting the low production numbers and higher costs of processing loans.  Loan production levels are so low that many loan originators are not generating enough revenue to cover their mandatory minimum wage costs...
06/10/2011
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