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lpsster
| Favorite team: | Northwestern St.  |
| Location: | Mandeville |
| Biography: | |
| Interests: | |
| Occupation: | Mortgage Banker |
| Number of Posts: | 14 |
| Registered on: | 8/20/2008 |
| Online Status: |
Recent Posts
Message
re: Bailout program for Distressed Homeowners finally here
Posted by lpsster on 11/8/08 at 11:34 am
There is no easy answer to this, myself like you did the responsible thing and took the responsible mortgage. This bailout however will affect you if your neighbors made bad choices when they mortgaged their home, if they lose it to foreclosure you will see a dramatic drop in the value of your home....
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Bailout program for Distressed Homeowners finally here
Posted by lpsster on 11/8/08 at 11:12 am
Just wanted to let everyone know that there is finally help for distressed homeowners who are:
1. Facing Foreclosure
2. Upside down on the value of their home
3. Interest Rate has adjusted
4. Interest Rate is about to adjust
5. Household has experienced a hardship
If you know someone who ...
Haynesville Shale in Sabine Parish
Posted by lpsster on 8/28/08 at 12:37 pm
I have been hearing alot of talk about leases and a live well in Sabine Parish (around Pleasant Hill). My in laws have some acreage in this area, does anyone know anything about lease prices per acre of if the live well talk is true?...
re: How best to track mortgage interest rates?
Posted by lpsster on 8/27/08 at 9:42 am
I would lock if you are using down payment assistance from your seller--This program is going away on 9/30 and some investors have started to eliminate the program--so lock and go to closing....
re: How best to track mortgage interest rates?
Posted by lpsster on 8/26/08 at 12:18 pm
You should be able to get 6.375% if you are paying an origination point and 6.625% with no point. Hope this helps...
re: How best to track mortgage interest rates?
Posted by lpsster on 8/26/08 at 9:55 am
If you are going to be doing a conventional loan you can have the loan closed in a couple of days (2 min if you have appraisal and title work done) or 5 days if you need title and appraisal. If you are doing a VA/FHA loan you will need 2-3 weeks. If you give me some more info on your loan I can give...
re: How best to track mortgage interest rates?
Posted by lpsster on 8/25/08 at 12:01 pm
Your mortgage rates react in a similar manner as the 10 yr bond, however they are not tied together. Your mortgage rates are actually tied to the fannie mae/ Freddie Mac securites being traded on the Chicago board. This information is not real accessible or generally in live time. What I tell my cus...
re: Haynesville Shale
Posted by lpsster on 8/22/08 at 3:40 pm
My inlaws have some property in Pleasant Hill, LA in Sabine Parish. There is all kinds of crazy stories going around about how much the lease's are from 4k-30k an acre. Anybody have any idea what is a realistice # for 80 acres in P Hill?...
re: E-Loan experiences???
Posted by lpsster on 8/22/08 at 1:38 pm
You show up to close and your interest rate is different, your fees are higher than expected--...
re: FHA mortgage loans
Posted by lpsster on 8/21/08 at 4:19 pm
HR 3221 is the new bill put into law last month. This law states that the $7500 tax credit will be available starting Oct 1. You will only qualify for this tax credit if you are a first time homebuyer or if you have not owned a home in the last 3 years. If you are single you must make less than 75k/...
re: FHA mortgage loans
Posted by lpsster on 8/21/08 at 1:26 pm
You got lied to--unless you were going for the $7500 tax credit just signed into law via HR 3221 (this does go into effect until Oct. 1) your application was denied under false pretenses....
re: E-Loan experiences???
Posted by lpsster on 8/21/08 at 11:34 am
NovaBill is correct, you should be able to get the 6% today on the 15 year fixed, I would assume that you may be able to get 5.750% by this time next week due to forecasted market shifts--If Eloan has you at 6.5% you need to renegotiate your lock as you are leaving a heap of money on the table--Good...
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