(Elizabeth Warren is the Harvard Law Professor chosen by President Obama to launch the new Consumer Financial Protection Bureau.) Dear Ms. Warren, Congratulations on being hand-picked by …
A Tale of ANOTHER Two Borrowers (also based on a true story)
Borrower “A” owned a two-family house on Long Island. Since rates were low, he wanted to refinance. He called his bank and received a rate quote. Thinking rates were going to drop more, he decided to …
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A Tale of Two Borrowers (based on a true story)
Borrower “A” owned a home on Long Island. His house was worth $2M, his mortgage balance $700K, and he had good credit. He figured refinancing his mortgage would be easy; so he called the phone number …
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Debt & Equity Management. The Missing Piece of the Wealth Accumulation Puzzle
Most Americans have the goal of owning their home free and clear. The “benefits” of eliminating their mortgage as quickly as possible have been programmed into them for generations. Many prefer 15 …
Want to Refinance? Here Are The Sneaky Little Secrets Your Bank Won’t Tell You.
(Originally published October 23, 2010) Interest rates are currently at historic all time lows. And homeowners are again thinking about refinancing their mortgages. During these times, banks …
More FNMA Changes Necessitate Diligence by Lenders, Realtors, AND Borrowers
(Originally published September 19, 2010.) A number of weeks ago, I informed you about recent Fannie Mae changes requiring a second credit check before closing. (Click here to read, Don’t Buy That …
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