Why a Mortgage Broker and Not a Bank
Updated Sep. 13, 2020
The best course of action when considering a mortgage is to contact a local Mortgage Broker, such as Bert Carpenter. Many times when you deal with the big banks, you are dealing with an order taker. When you work with a Mortgage Broker, you are working with a professional who has been trained, tested and licensed. A...

HUD's 90 Day Flip Waiver Gone?
Updated Oct. 9, 2013
For those looking to purchase a home, who the seller is has always been a potential issue. The Department of Housing and Urban Development (HUD) has historically frowned on sellers whoe "Fix and Flip" properties. Generally, this meant that any property tht entered into a contract within the first 90 days after a...

10 Mistakes Buyers Make!
Updated Oct. 9, 2013
Everyone has heard the horror stories of Real Estate Transactions that went crazy. It can happen to most anyone. The best thing to do is be prepared so it doesn't happen to you. Here are perhaps the 10 most deadly mistakes a home buyer can make.. 1. Make an offer on a home without being pre-qualified. Getting yourself...

90 Day Anti-Flip Waiver Extended
Updated Oct. 9, 2013
Well, I am pleased to report that HUD has just announced that they have extended FHA's temporary waiver of the anti-flipping regulations. The extension is scheduled to run through December 31, 2012, unless HUD either extends it or withdraws it prior to then. (Nothing with the Government is ever black and...

No More Mortgage?
Updated Oct. 9, 2013
Living without a mortgage payment is every homeowner's dream. But before you pay off your mortgage early, you should consider the following:. -If you have credit card or consumer loan debt, you might be better off paying these down or off first. Interest on a mortgage is tax deductable. Interest on credit...

Living Trust?
Updated Oct. 9, 2013
Are you thinking about transferring your real estate into your existing or newly established Living Trust? Tread cautiously. A recent trend by banks is to issue an acceleration demand to borrowers that "Transfer Title" out of their name and into the name of their Living Trust. Wording in most Deeds of Trust, the...

Drop in Foreclosures is good News, Right?
Updated Oct. 9, 2013
A lot of information has been swirling out there about how foreclosures are down significantly from a year ago. One could argue this is good news. But a recent look around my neighborhood doesn't seem to bear out the idea that the housing market has significantly mended itself. We seem to have just as many...

Secrets to Raising your Credit Score
Updated Oct. 9, 2013
This great tip will help you whether you are buying a new house, a new car, a cell phone, or applying for homeowners insurance! With the rapidly changing conditions we've seen in the real estate and mortgage industries, it's critical to keep your credit score as high as possible. Some employers pull...

What's The Secret To A "NO Closing Cost Loan"?
Updated Oct. 9, 2013
I receive many requests for a "No Cost" loan. Sadly there is no such thing.. All loans have costs associated with putting the loan together and getting to escrow. Just like you, participants in the mortgage process don't work for free. The appraiser, Title officer, Title Insurance Company as well as your lender...

Mortgage Professional vs. Bank Loan Officer
Updated Oct. 24, 2014
When you're looking to get a mortgage loan, you may work with a loan officer who generally works for a bank, or you may choose to work with a mortgage Originator that works for a mortgage banker or mortgage broker. People often confuse these three job types even though they will get you the same results: a new...

Seller Won't Entertain FHA Offers
Updated Oct. 24, 2014
One of the trends we are beginning to see more and more of is a seller listing a home for sale, and specifying cash or conventional financing only. You, on the other hand are approved for and want to purchase using FHA or VA financing. Why are sellers doing this and how do you get around it.. First the why. FHA and VA...

Bank Settlement
Updated Oct. 9, 2013
So its official, 49 states have agreed to a $25 Billion plus settlement with the five biggest Banks. The result of a 16 month investigation by the Justice Department and the States Attorney Generals from at least 15 states.. Bank of America, Wells Fargo & Company, Citibank, Ally Financial (the new name for the...

Don't Borrow Where You Bank
Updated Oct. 9, 2013
Do you like your bank? If you are like most Americans, you probably feel like you've developed a relationship with them, that they know you. In fact, you probably think that they actually care about this relationship like you do. Well, think again.. Banks are large financial institutions with one purpose:...

FHA Updates
Updated Oct. 9, 2013
Just as we thought lending couldn't get any tougher, it did!. FHA just announced major changes in credit requirements for new borrowers. The changes were announced in FHA Mortgagee letter 2012-3.. Disputed accounts appearing on your credit report: If you have disputed accounts, as long as the disputed...

Credit Issues and FHA
Updated Oct. 9, 2013
Just as we thought lending couldn't get any tougher, it did! FHA just announced major changes in credit requirements for new borrowers. The changes were announced in FHA Mortgagee letter 2012-3. Disputed accounts appearing on your credit report: If you have disputed accounts, as long as the disputed...

Top 10 Short Sale Advantages
Updated Oct. 9, 2013
lthough I am a mortgage Lender, and hate to see anyone lose their home, there are times when it becomes clear that the homeowner must choose between a foreclosure and a short sale. Here are 10 advantages of doing a short sale, rather than a foreclosure:. Reason # 1. ~ Its easier than ever. Banks are beginning to embrace...

Home Inspections
Updated Oct. 9, 2013
I'm always amazed how cheap some people can be. Seriously. Say you're thinking about buying a car. You head on down to the local dealership, wander the lot until you see something that piques your interest. So what do you do? Climb behind the wheel to see how it feels. It's easy to imagine yourself...

Harassed by Collectors?
Updated Oct. 9, 2013
How to Stop Collection Attempts When You Are Protected by Arizona's Anti-Deficiency Statute. Disclaimer: The information contained in this blog post is specific to Arizona, and should NOT be construed as legal advice. If you are experiencing a similar situation, you should seek legal counsel.. So you sold...

Mortgage Professional vs. Bank Loan Officer
Updated Oct. 9, 2013
When you're looking to get a mortgage loan, you may work with a loan officer who generally works for a bank, or you may choose to work with a mortgage banker or mortgage broker. People often confuse these three job types even though they will get you the same results: a new home loan.. It is important to understand...

Are Bi-Weeklys Good For You?
Updated Oct. 9, 2013
Why Bi-Weekly Payment Programs Are Great For Your Bank And BAD For You.. It seems amazing to me how the allure of saving thousands of dollars over a very long period of time can cause otherwise very intelligent people to waste thousands of dollars in a very short period of time.. The pitch seems almost too good to be true... .....