If a family member asked my advice and they were scheduled to close on a mortgage purchase or refinance in the time periods noted below, I would recommend... 1-7 Days 8-20 Days 21-45 Days 46 Days Plus Locking Locking Floating Floating Check MBS pricing here. 4:22 PM EST Market News As predicted last Friday by … Continue reading Mortgage Pricing Report- October 13, 2008
This video from CNBC via YouTube does a terrific job of illustrating how sub-prime mortgage defaults are impacting mortgage rates overall. There's some jargon in there, but overall, it's very easy to follow. ______________________________________________ Serving the mortgage needs of Kennesaw, Marietta, Roswell, Smyrna, Powder Springs, Dallas, Acworth, Woodstock, Douglasville, Hiram, Austell and Atlanta. Subscribe to … Continue reading How Investment Bankers Made Suprime Loans Into “AAA” Prime Loans
Over the last 16 years, I've seen far too many people financially over-extended. Fortunately, I've helped countless clients consolidate their debt utilizing strategic equity management strategies and have placed them in a situation to both save and payoff their remaining housing debt (or accumulate enough money to payoff if needed) in 10 to 20 years. Many … Continue reading Sometimes I Feel Like Michael Jackson’s Plastic Surgeon!
Brian Brady at America's Mortgage Broker wrote a masterful article explaining how to use Weighted Average Cost of Capital (WACC) as a financial tool to calculate whether or not a borrower should refinance to consolidate their mortgages and consumer debt. Many times a potential client has an extremely low rate on their first mortgage and … Continue reading How To WACC Your Creditors
Many homeowners are entitled to two major tax deductions -- one for annual interest paid on a home loan, and another for real estate tax bills paid to government. Calculating your approximate tax credit is basic: Add mortgage interest paid and real estate taxes paid together Find your marginal tax rate Multiple your tax bracket … Continue reading What’s Your After-Tax Mortgage Rate?
With the recent drop in property values in many cities around the county combined with the large number of adjustable rate mortgages coming due some homeowners in America are in a heap of trouble. That trouble comes when they try to refinance when a house is worth less then they owe on the mortgage. Although … Continue reading How To Refinance When My Home Is Worth Less Than I Owe On The Mortgage
YSP is an acronym for Yield Spread Premium. This is the rebate that a lender will pay to a mortgage broker in exchange for selling the interest rate above the wholesale par rate. This is probably best understood by using an example. If the loan amount is $100,000 and the wholesale par rate is 5%, … Continue reading What is YSP?