Posts

Fed Comments Push Rates Up; Re-Casting Problems!

Interest rates shot up again yesterday, as the Fed indicated that it may increase the Fed Funds rate faster (as much as 1% this year) than previously anticipated. The Fed also implied that it would stop buying mortgages and bonds (via “Quantitative Easing”) which would put further upward pressure on rates. Read More

DON’T Pay Down Your Mortgage With Lump Sums; Here’s Why

Yesterday, I blogged about “recasting” or re-amortizing a mortgage after a lump sum paydown. And a friend of mine who runs a major mortgage company on the East Coast (Craig Strent with Apex Home Loans) emailed me to suggest today’s follow-up blog – pointing out why paying down a mortgage too quickly is usually a […]Read More

Recasting Or Re-Amortizing After Paying Lump Sum

QUICK ASIDE: NEED FOR SPEED REQUIRES COOPERATIVE ESCROW OFFICERS 😊 A frequent cause of delays for us is slow escrow officers who sometimes get openly hostile when we request info or documents in a timely (under 24 hours) manner. This is a quick reminder that we need escrow officers who are fully committed to speed […]Read More