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  1. Mortgage Question

    PB Open Water
    Signed docs Monday, After signing I reviewed the copies and there is a pre-funding condition that cannot be met which pretty much makes the signing pointless. The condition is to finish and get a final on a 2nd garage on the property that is 75% Complete. This was not pointed out to me prior to...

    PB Open Water
    TOBTEK is online now Join Date: Jan 2008 Posts: 1,211 Images: 107 Any Investors. in the House? 400K private Mortgage needed. Have a client buying a 1.2 Million dollar home. Putting $800,000.00 cash down. Wants a 3 year OR shorter loan for the 400K balance. This home being purchase will...
  3. Mortgage Modifications

    PB Open Water An excerpt: The Doyles pay $5,031 a month on a mortgage of $947,000. They have an interest-only loan at a 6.3% rate that will reset in about seven years. On interest-only loans, borrowers pay only interest for...
  4. AZ mortgage loans

    PB Open Water
    Anyone do or have a connect for mortgage loans in AZ? Rates are climbing and my construction is done. Need to see what my best route of direction will be now. Thanks for the help...
  5. Is my landlord paying the mortgage?

    PB Open Water
    I know Holy Moly was doing a service like this.. Here's the scenario. A co-worker of mine just got a notice form his landlord. His lease is up in July and his landlord just give him notice stating he has 60 days to vacate. This tells me his landlord has defaulted on the mortgage and is...
  6. Anyone do mortgage modifications?

    PB Open Water
    I'm curious as to what is required to setup your own modification biz?
  7. Why do I have to pay my neighbors mortgage?

    PB Open Water
    This plan does nothing for 75% of us other then inevitably increase our taxes and create burden and hardship for future generations (our children) How will the homeowner bailout affect responsible borrowers such as myself? I purchased my condo two years ago, borrowed what I knew I could...
  8. Why Mortgage Companies Are Losing Money

    PB Open Water
    My mortgage adjusted for January, due to Escrow shortage, so I plugged the new payment amount into my automatic Bill-Pay. I accidentally put in $X,XXX.40, instead of $X,XXX.42, so my January payment was short by 2 cents. I got a notice in the mail that the payment was short and, although I...
  9. Mortgage rates to drop to 4.5%...

    PB Open Water
    There is a big push right now to lower the 30 fixed rate on FHA, Fannie and Freddie loans to 4.5%. Today we are at 5.375% so lowering it by a full point would be great. "Treasury may set mortgage rates at 4.5% to boost sales By Ronald D. Orol, MarketWatch Last update: 5:21 p.m. EST Dec. 3...
  10. Mortgage rates heading towards 5%?

    PB Open Water
    So the fed steps in, and look what is happening.
  11. Things MAY BE getting busy in the mortgage markets again????

    PB Open Water
    Loan Type Today Last Week 30 Year Fixed 5.76% 5.99% 15 Year Fixed 5.50% 5.67% 1 Year ARM 5.99% 5.56% 30 Year Fixed Jumbo 7.27% 7.36% 5/1 ARM 5.95% 5.89% 3/1 ARM 5.87% 5.81% PRETTY STRONG...... if you have a conforming loan amount.
  12. Mortgage Rates Up..Why?

    PB Open Water
    Over the last couple days I noticed mortgage rates have gone up about .50%..why is that.
  13. Any folks on here in the mortgage industry licensed in Texas?

    PB Open Water
    Trying to find someone in Texas or licensed in Texas to help with a new mortgage. Please PM me your contact info. Thanks.
  14. Mortgage Modification Question

    PB Open Water
    The existing loans on my two homes is not that high. Todays rates would be a little less..maybe 1/2 point. The loans I have are with Countrywide and Citi Mortage. The question is can you do a "loan modification" to reduce that rate without doing a total refi to lower your rate. Do not need to...
  15. calling all mortgage people> did HSBC screw me?

    PB Open Water
    I closed on a refi 60 days ago. the old loan was with HSBC and the new loan was with HSBC. HSBC used my old escrow account (over $3k) to reduce the loan amount without my knowledge. I had no clue. Even the closing atty told me I would be get my escrow refund. So basically this refi cost my...
  16. Question for the mortgage gurus

    PB Open Water
    Why are interest rates higher for a rental property? Is it that they're afraid you're more likely to default on the loan? If I refi my current mortgage to buy another rental property, do I have to tell them what I'm taking the money out for and if so, can I take it out to buy rental property...
  17. Mortgage Relief Fund is signed, how much more money can they print?

    PB Open Water
    Expect inflation to increase and your dollar to be less.
  18. Mortgage bailouts.

    Political Rhetoric
    Whats everybody's take on the whole mortgage bailout that is going through?
  19. A question for mortgage or loan people.

    PB Open Water
    Let me start by stating that my wife and I moved into a new (to us home) last December. It was a repo in Murrieta that we bought for $265k less than the note. There were some issues in the loan paperwork, but after all was said and done the paperwork went through, and we were off and running on...
  20. Good Mortgage Lender / Realtor in AZ

    PB Open Water
    Good Mortgage Lender in AZ Anyone know of one?