Archives for the 'Pre-Approval' Category
Scorecard for Your Mortgage
It’s golf season. The weather here in Chicago finally turned and I went to the driving range to practice.
My wife has been golfing for over ten years, and last year I decided to take lessons, practice, and play as often as I could. I loved playing. I became passionate about playing. It seemed it was [...]
A Band-Aide For Foreclosures
Now that federal lawmakers are weighing in about the subprime woes and the increase in foreclosures and how to offer financial aide to those homeowners who are on the brink of losing their homes, I guess it’s ok to say that this situation is serious. I am being sarcastic.
The band-aide that is being proposed is [...]
Pre-Qualification: No Salami Sandwich
Imagine a salami sandwich without the salami.
A pre-qualification letter is like a salami sandwich without the salami. In general, for a borrower to get a pre-qualification (a “pre-qual”), the loan officer may ask some general questions, take a look at credit, and write a letter that states Mr. and Mrs. Buyer can afford a $1.2M [...]
More Than Sloppy
When I was a kid I loved an overfilled Sloppy Joe. Part of the fun was licking the “stuff” off your hands.
Sloppy pre-qualifications (not to be confused with a true, legitimate pre-approval) are another matter. This blog post has it right, and everyone should pay attention.
High loan-to-value loans, especially 100% financing, are very tough to [...]
Stream Of Thoughts
I was recently re-reading one of my favorite books, The Sound and the Fury, by William Faulkner. Though reading is not quite the word. When I first tried to read this book, when I was 14, I was entranced by the language and emotion, yet really didn’t understand what was going on.
This was my first [...]
Pi Day Devotion
I happened to see this post on the Yahoo page about Pi Day. If you haven’t seen Pi and enjoy small, independent films, this is a wonderful film about many things, but, to me, about the necessity to see and appreciate the whole world (big picture) rather than focus on minute details that can paralyze someone in [...]
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