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Many Charlotte families lost their homes because unscrupulous lenders placed them into financial products called “Toxic Mortgages” which contributed to the financial meltdown. These mortgages had an artificially low teaser rate or negative amortization Furthermore, many buyers went on-line and obtained mortgages without professional guidance.
Prior to making the decision to buy a home, the important questions are: ‘what are your goals and what is your long-term financial strategy’? An example of this is determining if the property in question is a home to hold for the long haul, pay off and enjoy through retirement or is it a home that one is living in to accommodate a current lifestyle?
The real key is customer service. If you are buying or refinancing a home, you need an advocate – an experienced professional- during the mortgage process, one who is willing to work for you. There is more to managing one’s mortgage than what meets the eye. You deserve to know what will serve you in the short- and long-term.
Furthermore, choosing a local lender for your mortgage brings increased accountability and accessibility. Charlotte is my home and I often run into clients around town. My dedication to them surpasses any corporate customer service mission statement. My promise to give sound mortgage advice and exemplary customer service is a commitment made to a neighbor. Please call or email me to determine your best mortgage strategy. Even better, stop by the office. I have been a mortgage professional for nine years and believe in offering experienced and personalized service to clients seeking a mortgage loan in the Charlotte area.
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News You Can Use
What a beautiful weekend we had! While running this weekend, my path was brightened by blooming trees and daffodils. Spring has arrived and not a moment too soon. At some point each Winter I wonder how long the cold grayness will last – yet each year Spring faithfully arrives. I’d like to see an improved economy do the same. I see the green shoots, do you?
Last week was Cunningham & Company’s annual meeting – a day packed with valuable info. One of our speakers was Brian Chappelle who is a partner of Potomac Partners – a consulting firm specializing in mortgage finance. He provided a thoughtful summary of the previous year and a fair forecast of the one to come. One surprise he had for us was that USDA expects appropriated funds to arrive so they can carry on business as usual. Quite a different outlook than the one indicated by the bulletin issued the week prior. I shall keep you posted on how this develops but it appears USDA program availability is certainly not as dire as earlier believed.
Other highlights were:
- Rates may stay close to current levels once the Fed wraps up their MBS purchase program
- Defaults and foreclosures are peaking, this sector should slowly improve
- HUD, Fannie and Freddie are very aware how important the housing market is to our greater economic recovery. They are committed to providing lending that helps the housing market, not stifle it.While in Greensboro we also celebrated Cunningham & Company’s 20th Anniversary. We’ve seen a variety of housing markets with the inevitable program and guideline changes. Through it all we exhibit the strength, integrity and expertise required to provide proven solutions for our home owners. My big take away from this week? Changes will come but in them opportunities appear.
As a final note I’d like to thank you for the opportunities and referrals you’ve given me. At our meeting I was recognized as a repeat President’s Circle winner and the third top producer in the company. It’s a blessing that my work brings me so much joy and satisfaction – I appreciate you for making that possible.
Featured Program
Good Neighbor Next Door
This specialized FHA program allows teachers and first responders to purchase a home with a substantial incentive in the form of a discount of 50% off the list price of the home.
- Eligible borrowers are law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians
- Borrower must commit to live in the home for 36 months
- Eligible Single Family homes are located in designated revitalization areas
Have You Heard?
Big news this week: Twelve Charlotte libraries closing. Sigh. Our branch is among them. My daughter devours the stacks of books I bring home to feed her avid reading habit that equals mine. What will we do? We can (and will) go to other branches but the news is certainly not ideal. On a positive note, it is heartwarming to see the outpouring of support by Mecklenburg residents. It is with much hope that some closings can be staved off and a better long term solution found. Want to help? Donate Here
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News You Can Use
Friday night, I had sushi on the brain for dinner. There are two good places near my home – one delivers and one doesn’t. Because I was ready to settle in, I opted for the former. Unfortunately, when I called and said ‘delivery order’ their response was ‘no thank you, we’re too busy’. Pardon?Then it hit me – I’d broken my rule to select businesses based on quality and service not perceived cost or convenience. I immediately placed an order at the other restaurant happily expecting what I really wanted in the first place. Not only was my dinner delicious but the hostess offered a drink while I waited. So I got what I wanted and a little extra. A girl could get used to this.It reminded me of how we do business at Cunningham & Company. Sure, we offer a wide spectrum of lending programs and we’re competitive with the ‘big boys’ but we do more than meet the standard. We’re dedicated to creating Raving Fans. Simply put, we believe in giving clients what they want and then going the extra mile to make their experience with us effortless and remarkable.Sometimes clients will opt for one of the big banks because of perceived cost or convenience. This market has helped many realize it’s more than just price. (And frankly, if we weren’t on par with the banks, we wouldn’t still be here.) And as for convenience, we serve clients in the medium they prefer – whether it’s via email, phone, fax or in person. What could be easier than that? Where we really shine and why clients return to us time after time, is that we raise the customer service bar.If you or your client believes that ‘good enough’ isn’t good enough, call me. It would be my pleasure to demonstrate our exceptional Raving Fan service. We’ll even offer a drink while you wait.Featured Loan Program
USDA
Cunningham & Company offers USDA loans to help low-income individuals or households purchase homes in rural areas.- 100% Financing with no Mortgage Insurance
- No Loan Limit
- Property and borrower’s income must meet program guidelines
- May be used for new or existing properties
- Areas in and around the Charlotte MSA are eligible
Have You Heard?
Ever wonder why people don’t always agree with you? Or why some people are more motivated than others? This simple 30 question test will give you a custom “Motivational DNA” synopsis. Now you’ll know how to tap into your innate strengths as well as bring out the best in others.Enjoy this info? Would you like to receive Monday Money Matters in your inbox? Subscribe here!
