Tag

mortgage application

Making — and Saving — Deals

Advantage:  Incumbent Realtor Want one more reason to hire the seasoned, local Realtor (vs., say, your high school buddy, or your first cousin’s best friend’s uncle?). Not only will they get you the best possible deal in today’s fast-paced housing market — but they may very well save it once it progresses to the critical...
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Government Shutdown & the Housing Market

Muted Effect (So Far) If the U.S. government defaults in 10 days and interest rates suddenly go kablooey(!) . .  . all bets are off. But in the meantime, the effect of the federal government shut-down on the housing market appears to be muted. According to the lenders I work with most often, the main...
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Cultivating Good “Appraisal Karma”

Why It’s Smart to Be Nice to Appraisers As I’ve written previously (“Appraisers vs. Realtors vs. Trulia“), Realtors active in an area will often field calls from appraisers trying to establish the value of similar, nearby homes. Whether the bank they’re working for is considering a new mortgage or refinancing an existing one, the questions...
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Famous Excuses (or, The Many Guises of CYA)

Lender-Speak, Translated What they said:  ‘the check’s in the mail.’ Translation:  ‘I’m late paying the bills.’ What they said:  ‘The dog ate my homework.’ Translation:  ‘I didn’t do the assignment.’ What they said:  ‘I have been holding off on submitting the file until we are within 60 days of closing (for both the rate lock and because the...
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