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. 

o

News You Can Use

So here we are – November – and what shall be the fate of the First Time Homebuyer Credit?  We’re not sure but it definitely has been the talk of the Fall.   Senate Banking Committee Chairman Chris Dodd, D-Conn says it is as good as ‘done‘ but its passage and content remains uncertain.   While we wait for the final word it looks like this month will be quite busy as all type of buyers keep buying and other clients are finding smart mortgage solutions through a refinance.   

On the mortgage side of things, the Mortgage Bankers Association has convened a panel to advise on how to keep FHA a viable part of our market.  At over 30% of national volume, I’d certainly say it has significant impact.   FHA loans are one of my favorite loan programs because they are a solid solution for many homebuyers’ mortgage needs.  If you have a question on them, just ask me – I’ve likely experienced the situation you’re facing.   

Speaking of what has significant national impact, let’s talk a minute about Facebook.  Maybe you’re a social media fan but like to keep your updates and info contained within a small circle.  If you take quizzes or play games, consider how the third party apps on social networking sites work.  Your profile might not be as private as you think. 

We’ll see economic reports this week on manufacturing, employment and another FOMC meeting.  The first week of the month is a busy one for market influencing reports so rate swings are possible.  Have questions? I’m here for you – so give me a shout if I can help. 

Featured Loan Program

Good Neighbor Next Door 

Who doesn’t love a 50% off sale? What about on a house?

• Teachers, policemen/women, EMTs and firemen/women can purchase a HUD foreclosed home at 50% off the list price of the home.
• Loan is set up as a 50% loan, remaining 50% is held as a ‘silent second’ that is forgiven after 3 yrs of occupancy
• Eligible Single Family homes are located in designated revitalization areas

Have You Heard?

Have you heard we have our own deal a day site for Charlotte?  Groupon.com is a new entry into Charlotte but the deals have already been impressive. Groupon focuses on local businesses and as they put it ‘each day we feature something cool to do at an unbeatable price.’  Give it a try.  

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