Even if you are making your mortgage payment and not electing to take forbearance, millions of others in the US are, and it will affect you. As of April 23rd 6.4% of all US mortgages went into forbearance. That represents about 3.4 million homes. But the shocker is the staggering number of newly opened mortgages…

Here Come the Overlays… Here’s a staggering statistic: There are roughly 160 million people that make up the workforce in the United States. Prior to the coronavirus, the unemployment rate was 3.5%, which represented about 5,000,000 people. Over the last 3 weeks we have had 22,000,000 first-time unemployment claims filed. That puts the national unemployment…

You are practicing social distancing. You mask-up just to go get the mail out of the mailbox. But in order to sell or refinance you must allow some stranger into every room of your house? Luckily Fannie Mae and Freddie Mac, the government mortgage entities have been collecting home value data for years. Every appraisal…

Thousands in Hawaii, and millions across the country are now unemployed and unable to make their mortgage payments. There are also those that own investment property where the tenant is in the same situation and can no longer pay rent. The Feds have come to the rescue and are telling millions of Americans to skip…

If you follow the headlines or have tried to refinance, you’ll know that mortgage lenders have been swamped with applications. With so much business how could there be financial issues? This week we dive into the weeds to expose the next government bailout of the mortgage industry. In the mortgage world there are 3 different…

I have written for years educating consumers on why interest rates move up or down. I know all of you just want to know if you’ll be able to refinance, and when to pull the trigger and lock in that rate. This week I’m going to break it down into the two most important and…

I wouldn’t expect anyone outside the world of mortgage financing to have tracked the fall, then rise, of mortgage rates over the past 2 weeks. Rates dropped to their all-time low, and before you could say yay! rates jumped up higher than what they were prior to the fall of the stock market. I have…

The stock market had violent swings up and down, but the trend was all negative. The bond market surged with investors fleeing stocks for safer places to put their money. I have been flooded with calls and emails asking some very specific and important questions: What are the current mortgage rates? Did rates drop more…

Unless you’ve been hiding under a rock this week, you’re aware that mortgage rates have moved sharply lower. I’ve fielded so many calls this week with questions, I thought it would be best to try and answer them here. Some responses are to questions, others are to statements that are just wrong. Feel free to…

I get it. What we make and how much we have in the bank are two pieces of information that we rarely ever share. Now your applying for a mortgage and the person you know nothing about is asking you to expose yourself completely. Today I’ll share some light on how we got here and…