Posts from ‘November, 2007’

It seems like every week I get a call from someone wanting to know just the interest rate. We’re completely fine with quoting interest rates. You won’t get smoke and mirrors from us. However, it doesn’t work that way.
While I’m happy to give you a rate quote, I absolutely positively need to know a few things about [...]

The benchmark 30 year fixed mortgage interest rate has fallen to its lowest levels in eight months. With efforts underway to infuse the market with more cash, I think the 30 year rate will fall even more and could possibly end the year at around 6.00%. Here is a snapshot (red = rates, blue = [...]

You can talk about debt and assets and all that good stuff, but at the end of the day cash is king. There is an important lesson in this for everyone. Why do I bring this up? All the news this morning has been regarding the large infusion of cash into the credit markets.
The [...]

It’s been chilly the past few nights here in Gilbert, Arizona. I know most of the country does not consider our temperatures “cold”, but if my 18 month old feels cold at night, it’s a matter of concern for me!
Here is a snapshot of what we have in store for the last week of November:

Just [...]

With the Thanksgiving festivities, I missed this piece of news regarding Arizona lawmakers seeking a rate cap on adjustable rate mortgages. According to the EV Tribune (Nov 23rd, 07):
Arizona’s chief financial regulator may ask state lawmakers to cap how much lenders can hike the interest on adjustable rate mortgages.
However, this is easier said than [...]

This blog may be a mortgage blog, heck I even call myself the Arizona Mortgage Guru, but every once in a while my heart burns. It burns with so much passion I have to change topics a bit. I’ve done this in the past when I have recognized distinctions and excellence. However, this is turkey [...]

A reader asks:
Hi Guru- I am loosing thousands to interest every month on a home I built to sell. My primary residence was mortgaged to get the funds to build. How do I ask for mortgage forgiveness from the lender?
I’m not sure you can really ask for mortgage forgiveness in this situation. Regardless of the [...]

Recently, a past client contacted me to see if he could refinance his house. We looked at all the numbers and it seemed to make sense. The only problem was his credit. Not quite exactly his credit per se, but the co-signed loan on his credit. The infraction coming of course from his own daughter. [...]

The Real Estate Blogging Seminar is almost two weeks away (Nov 30th) and we only have 10 seats left. And I have yet to send an e-mail invitation out to all my agent contacts, which I’m still planning on doing. Just so you know I’m capping attendence at 30, becuase anything beyond that gets to [...]

Here is an interesting video for you this afternoon. Remember to follow the directions and also that you can use you mouse. You don’t have to place your finger on the screen.