Category Archives: Mortgage Information

Information pertaining to Mortgages

Use a Local Mortgage Company in Coastal Delaware

Why do we recommend that you use a local mortgage company when buying a home in Coastal Delaware? This month we had several settlements in which our Buyer clients had decided to obtain a mortgage from one of the big banks or mortgage companies. In one case, the clients had maintained a relationship with that […]


Choose your own settlement attorney in Delaware

In Delaware, the Buyer chooses the settlement attorney and the attorney represents the Buyer, not the Seller. If the Seller wishes to retain their own counsel, they may do so, but you should not give up your right to representation by your own attorney Use your own Attorney In new construction, it has become common […]



Avoid Unsolicited Mortgage Offers

Have you ever wondered where all those bank offers and solicitations come from? I once made the mistake of responding to an online offer to refinance my mortgage and “reduce your mortgage payment”. Normally, I ignore them, but this one time it appeared to be legit. That one mistake resulted in phone calls and mailings […]


Refinance Your Mortgage for Rate and Payment Reductions

Why Refinance Back into a 30-Year Loan? One of the biggest reasons homeowners refinance their mortgage is to obtain a lower interest rate and lower monthly payments. By refinancing, the borrower pays off their existing mortgage and replaces it with a new one. This can often be accomplished with a no-points no-fees loan program, which […]


Reverse Mortgages not just for Older Seniors

Reverse Mortgages are not just for the older seniors anymore. In fact, Baby Boomers in their early 60’s now make up 20% of the prospective reverse mortgage candidates! Why? According to Sandra Timmermann, director of the MetLife Mature Market Institute, “Consumer attitudes about reverse mortgages are changing because the recession has eroded confidence about retirement […]


Opt-Out of Junk Mail

Are you tired of all of the unsolicited credit card, insurance and mortgage offers in the mail?  It seems like half the mail is magazines and junk and the other half is offers of credit.  If you would like to stop these unwanted solicitations, I have a solution for you.  Visit www.optoutprescreen.com and opt-out of […]


Tips to Present a Stronger Mortgage Application

Everyone keeps talking about how hard it is to get a mortgage with today’s tighter lending standards. Many people actually disqualify themselves without even talking to a mortgage professional! But with both money and houses on sale, now is a really great time to buy. In fact, 8 of 10 homeowners would say now is […]


Will your home appraise at the Sale Price?

“As of September 1, 2011 appraisals will change drastically. We now must complete appraisals in what is defined as UAD or Uniform Appraisal Dataset format. This is a GSE Fannie, Freddie requirement.”  I saw this blog just this morning posted by Bobbie Smith, a Realtor up in the Poconos. An appraiser in her area, Mary […]


Buy home with FHA Reverse Mortgage

You can buy a new home using an FHA Reverse Mortgage and there are so many potential advantages for those over the age of 62, especially for the self-employed. Let me explain – Normally when you apply for a mortgage, your credit score and your income determine the amount of money you can borrow to […]