by Athena Paquette | Nov 6, 2015 | Blog, Home Owners, Investors, Realtors
Yes, it was JOBS JOBS JOBS eclipsing all other data. The October non-farm payrolls were up 271,000 putting the US unemployment rate at 5% down from 5.1%. The hourly earnings were up .4% and initial weekly jobs claims were up 16,000. Productivity in Q3 was up a...
by Athena Paquette | Nov 6, 2015 | Blog, Home Owners, Investors, Realtors
Client who has a lot of property and a lot of depreciation gets turned down for a home equity line by Chase. They came to me as a referral from one of the financial planners that refers me their clients for refis. The financial planner asked if it was normal to not...
by Athena Paquette | Nov 6, 2015 | Blog, Home Owners, Investors, Realtors
You cannot finance land. FALSE! There are financing options for land, though they require more equity (or down payment). I had a client this week who has 20 acres of land with a house and utility buildings on it. This is typically not a Fannie Mae or Freddie Mac loan,...
by Athena Paquette | Oct 30, 2015 | Blog, Home Owners, Investors, Realtors
Though there wasn’t much “good news” this week, which means we should have seen rates decline, we actually saw rates increase a little on the comments made by the Fed after their FOMC meeting. They had less “dour” language hinting that they may raise rates in...
by Athena Paquette | Oct 30, 2015 | Blog, Home Owners, Investors, Realtors
A retired couple called me asking for a reverse mortgage. They didn’t realize that this is an FHA loan and that their condo complex had to be FHA approved. I explained to him that I would be glad to get his community approved with HUD, but that that could take 45-60...
by Athena Paquette | Oct 30, 2015 | Blog, Home Owners, Investors, Realtors
Is it true that when if you get an Owner-Occupied Loan, you have to refinance when you move out? NO! Believe or not I have had a few clients think that this is the case. When you sign loan documents, the NOTE and the DEED of TRUST are the 2 contracts that you sign....
