Do you know when your mortgage is going to adjust?
Do you know what your new payment will be?
Do you know what your options are?
If you do not know the answer to all three questions above, or are uncomfortable with the answers, Please don't hesitate to give us a call at 866-900-2342, x106 or visit us online at www.vandykfunding.com . We are here to help.
Sincerely,
Brian Skaar
Mortgage Banker
Thursday, August 16, 2007
Another Big Lender went bust today
Today, First Magnus Financial Corporation, the 16th largest lender in America stopped funding loans (industry jargon for going out of business). Much the same as the troubles that shuttered American Home/ABconduit, New Century, and many more.
If you have an ARM or adjustable rate mortgage, I urge you to research your options now. Please take the time to research your families financial situation before your refinance options fade away and you are stuck with an adjusting ARM loan with high payments.
If you have an ARM or adjustable rate mortgage, I urge you to research your options now. Please take the time to research your families financial situation before your refinance options fade away and you are stuck with an adjusting ARM loan with high payments.
Tuesday, August 7, 2007
Time to work with a professional Loan Officer
This is the inaugural post with our new blog, fixmyarm.blogspot.com . I think it is important to speak to an urgent matter, give the news in the media this week regarding the mortgage industry. American Home Mortgage / ABconduit has filed bankruptcy after facing a liquidity crisis or cash crunch. Much press has covered the issue as bad loans, bad lenders and bad Loan Officers. While much can be argued for both sides of all the above issues, the fact remains that the capital markets have shut out or frozen access to millions of americans to the loan programs that we have become dependent upon to maintain affordable housing payments in our high priced real estate economy.
Now, more than ever, It is imperitive that homeowners with Adjustable Rate Mortgages (ARMS) find a professional Loan Officer soon to review their options before the loan programs you need disappear. The fact is that as of 2 weeks ago, a Jumbo ($417001 or higher) 30 fixed rate mortgage for a great borrower (720+ fico, full income documentation) could find a mortgage in the mid to high 6's. After the current crisis unfolded: 8%+.
Here is the good news. A quality Loan professional has the wherewithal & skill to find out which companies are not overreacting to the crisis and jacking up rates sky high. For instance, this afternoon, I got a call from a wholesale lender who was offering this very same loan down to 7.05%. You have to call a professional to get this advice. The newbies don't have it.
To speak with a loan professional now regarding your ARM loan, call 866-900-2342 x 106, and ask for Brian Skaar, Branch Manager with VanDyk Mortgage. Or visit us on the web at vandykfunding.com.
Now, more than ever, It is imperitive that homeowners with Adjustable Rate Mortgages (ARMS) find a professional Loan Officer soon to review their options before the loan programs you need disappear. The fact is that as of 2 weeks ago, a Jumbo ($417001 or higher) 30 fixed rate mortgage for a great borrower (720+ fico, full income documentation) could find a mortgage in the mid to high 6's. After the current crisis unfolded: 8%+.
Here is the good news. A quality Loan professional has the wherewithal & skill to find out which companies are not overreacting to the crisis and jacking up rates sky high. For instance, this afternoon, I got a call from a wholesale lender who was offering this very same loan down to 7.05%. You have to call a professional to get this advice. The newbies don't have it.
To speak with a loan professional now regarding your ARM loan, call 866-900-2342 x 106, and ask for Brian Skaar, Branch Manager with VanDyk Mortgage. Or visit us on the web at vandykfunding.com.
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