Refinance Your Underwater Arizona Mortgage!
By · CommentsThe new HAMP Loan Modification guidelines are due as soon as Nov. 15, 2011!
We know the Loan to Value will not matter even if the loan-to-value is way above 125%.
We know most single family homes that are used as a primary residence should be eligible in Arizona. We don’t know whether second homes, investment homes or multi- family–duplex, triplex or fourplex homes–used as pricipal residences, will be eligible.
We know these refinances will be great for many homeowners but don’t know what the interest rates will be. We assume they will be higher than the rates for homes with Loan-to-Values no higher than 80%.
We assume appraisals will be required andLoan-toValues may affect the rates.
We believe the surge in loan applications will force all mortgage interest rates up.
We don’t know what any special rules may be, but:
Why don’t you start working on your mortgage application now, before the surge forces rates up to where refinancing is not practical?
I am happy to assist anyone in Arizona–now.
Richard “Dick” Tannenbaum, CCIM, CMPS, The Loan Arranger, NMLS 168867, AZLO 911413, 480.636.0633, Richard@RTannenbaum.com
W. J. Bradley Mortgage, BK0003998, 9237 E. Via de Ventura, Scottsdale, AZ 85258-3329
Want a job???
By · CommentsHello…
I am looking for a part-time asistant.
I’m a mortgage originator, located in Scottsdale, AZ, and prefer someone who has mortgage or real estate experience and is bi-lingual. (A Mortgage License is a plus but an active real estate license, from any state, is not allowed.)
Much of the work may be ”OK” from home.
Dick Tannenbaum, CCIM, CMPS, The Loan Arranger
Buy, don’t rent!
By · Comments
Buy, don’t rent!
Things I don’t understand about people who rent their home(s):
Why do people look for their first apartment(s) and/or home rental(s) with a completely different viewpoint than when they search to buy their first home(s)?
Why do people spend so little time locating their first home rental(s) and so much time buying their first home(s)?
Why are people willing to compromise what they want with their first home rental(s) and not when buying their first home(s)?
Why are people often less cautious when they buy their first investment properties than when they buy their first home(s)?
Why don’t people treat the purchase of their first home as one of their first investments instead of insisting on trying to immediately acquire the home of their dreams?
The financial benefits of purchasing a home over a rental are substantial!
- Cash required for the down payment and costs may be less, or no more, than a rental deposit.
- Monthly payments may be no more than rent payments for an “equal” unit.
- Mortgage interest and real estate taxes are deductible which may reduce the net monthly housing cost to below the amount of rent that would have otherwise been paid.
- The value of the real estate will probably increase while the rental yields only rent receipts.
Buy, don’t rent!
Richard “Dick” Tannenbaum, CCIM
“The Loan Arranger”
