Archives for May 2007

A Few Excellent Chicago Real Estate Blogs

When researching mortgage options, it is a good idea to get a different perspective on real estate. Knowing what (kinds of) properties, in the different neighborhoods, at the various price points, can help you understand what you are going to be able to afford. In addition, the good sites offer the intangible bits of information […]

28 May 2007 | Real Estate (Agents), Chicago Stuff | 1 Comment

Foreclosure Fingerpointing Game

I have never been a fan of fingerpointing. Usually the one who is doing the most fingerpointing is the one who probably should be looking in the ‘responsibility’ mirror.
This article demonstrates how ridiculous the fingerpointing has become regarding the subprime and foreclosure chaos.
There is plenty of blame to go around: banks (lenders) who offer crazy, […]

25 May 2007 | First Time Homebuyers, Loan Officers, Programs, Foreclosure | 1 Comment

666 Credit Score

For many people, seeing the numbers 666 causes fear and panic. A hairy beast with short pointy horns and a long tail? 
Homebuyers who see 666 on their credit report shouldn’t be fearful, but they should be concerned.  As this post states, those with bad credit may run the risk of working with bad lenders who specialize in lending money to […]

20 May 2007 | First Time Homebuyers, Credit (Score) | No Comments

Escrow Accounts

Lenders often talk about PITI: principal, interest, tax and insurance. Many times new homebuyers forget that they will have to pay taxes as part of their monthly mortgage payment.  And some forget that they may have to pay homeowner’s insurance monthly as well. So when they talk to a loan officer the payment seems higher […]

20 May 2007 | First Time Homebuyers | 2 Comments

Credit Score Fake

My wife and I and some friends visited Brazil this past December. In addition to squishing our toes in the sandy beaches (and seeing not much in the way of swim suites……….), drinking caipirinahs, and listening to swinging sambas, we also  visited some gem shops (and even gem museums!).  Some really beautiful stones. Some even more beautiful […]

10 May 2007 | First Time Homebuyers, Credit (Score) | No Comments

All Locked Up

Please don’t wait!
Secure your loan and interest rate. Now.
Rhonda Porter does such a fabulous job in explaing how this all happens and how to work with your loan officer correctly, that I think you should go directly to her post. An excellent, thorough post.
And notice what she writes at the end, “What ever you do, please […]

8 May 2007 | First Time Homebuyers, Good Faith Estimate, Interest Rate | 1 Comment

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