mortgages cary: Did NC Dodge a Bullet? - 09/29/08 11:02 AM
Wachovia is the second largest employer in the LARGEST CITY in North Carolina.  So news that it is being sold to Citi is BIG NEWS here in the Tarheel State!
According to the Charlotte Observer:
"Wachovia will remain headquartered in Charlotte,
while Wachovia Securities will continue to be based in St. Louis.
Citigroup will base its retail bank in Charlotte and
its investment bank in New York."
Whew!  I was relieved... we do NOT need massive layoffs in our largest city right now!  But then I read down a little further, and there was this news:
"A sale to Citi likely … (6 comments)

mortgages cary: Road To Bejing Starts In Cary - Life in Wake County NC - 08/04/08 09:11 AM
Cary, North Carolina is the proud home of the USA Baseball Training Facility - and we've watched some GREAT baseball there.  The training facility not only has great fileds, but it adjoins a Cary (city) Park that includes soccar fields and basketball courts.  Every year - more than 50 families host kids from across the country who come here to play in world class tournaments.
So it was no surprise that the "Road to Bejing" began here on August 1, 2008 with the USA Olympic Team playing the Canadian Olympic Team before a HUGE crowd!
One of the most interesting … (2 comments)

mortgages cary: ICE Your Phone... In Case of Emergency - 07/21/08 03:40 PM
My daughter ICE'd my phone today - and now I want you to ICE yours too! (her brother showed her how to do it...)
Take a moment and add ICE as a contact on your phone.  Our son has been working for the police department in Cullowhee, NC parttime while he is in school.  When he came home this weekend, he immediately made certain his sister had ICE as a contact on her phone with his number in it.
ICE stands for In Case of Emergency. The police are now looking under ICE if you are in an accident.  I believe all … (23 comments)

mortgages cary: Kiddie Condos are Not Just for Kiddies! - 07/20/08 03:47 PM

Kiddie Condo Loans refer to a FHA provision that allows for non-occupying co-borrowers.  Parents like us, with kids in college, come out a LOT better owning a unit with the student, and renting it back out.  We've done many of these for our friends - and most of them were NOT condo units.  It's just an industry slang term for the loan that only requires a minimal invstment (less than 5% normally covers all costs), and does not require the student to be employed full time - or have a credit score established.
We used this program for a family … (3 comments)

mortgages cary: Buying A Home While Self Employed in NC - 07/16/08 04:15 PM
Are you a professional fisherman - or are you just "fishin'" for sales?  Either way, if you are self-employed and you want a new home in North Carolina there's some important steps you need to take!  North Carolina has been the LEADER in creating Preditory Lending laws that help insure "unsavory" lending practices do not continue to add to the "credit crunching" mortgage meltdown.  Unfortunately, that has a direct affect on the "ease" for a self employed borrower who needs a loan. Is it IMPOSSIBLE??  NO! 
Get your credit checked.  As an owner of a business, you already know how important it is … (6 comments)

mortgages cary: A Different Angle on Relo Business - 06/15/08 01:30 PM
In NC - at least in my little corner - it seems like most of our business is from folks who are relocating here.  Many Many years ago a friend of mine told me that one of the first things you notice in a relo market are the license plates...  kinda' like that game you use to play when you were a kid going on vacation... how many different states did you see each day?
Well - I've been seeing a TON of out of state plates - so last week I decided to keep a list of the ones I … (4 comments)

mortgages cary: Keep a Copy of Dubya's Check, Ya'll - 05/05/08 06:34 PM
If you are applying for a USDA, VA or FHA loan, you might be asked to write a "Letter of Explanation."  You might be asked to explain, for instance, why you had a 3 month gap between graduating from college two years ago and getting a job that August. 
You might be asked to explain why you missed those payments on all of your credit cards for two months straight 4 years ago - and saying, "It wasn't me" won't work.
We had a client who wrote us a long letter explaining that he'd missed multiple payments over a 5 year period because he had … (12 comments)

mortgages cary: Bear Stearns and Rates - 03/17/08 01:17 PM
CNBC Said this was going t be the most historic trading day of this Century... because Bear Stearns was being sold to JP Morgan for $2 a share.  Normally, bad news in the Economy is GOOD NEWS for mortgage interest rates.  But these days we are not dealing with normal.
Rates have gone down a tad, and we are slightly under 6% on a 30 year fixed rate mortgage - but we are not WAY down.  The Fed meets tomorrow, and on Weds. will announce if they are going to cut rates... and mortgage rates might tumble in concert with the Fed.  But there are … (1 comments)

mortgages cary: Hidden Gem In The Rain! Old Denver! - 03/13/08 11:14 AM
My friend, and mentor, Leesa Finleyasked me to help find a GEM on ActiveRain!  I believe Leesa does one of the BEST JOBS of highlighting her little backyardon Localism out there - I mean how many of us can say we've gotten THANK YOU NOTES from businesses that we highlight on LOCALISM (and it's rumored that the AR Gods called to say KUDOS on a great job!)?!?
So I went to find a Gem... and I found someone writing about "Old Denver."  (Get it - Old Denver - antique gems over there? Okay it's weak but I didn't get a ton of … (7 comments)

mortgages cary: History is Being Made in Mortgage Lending - 03/06/08 12:23 PM
If you are interested in purchasing a home - you want to know what rates are doing - and what you should watch, right?  Well, for the last 20 years I've been telling people it's pretty easy to figure out what's going with rates, because we are in a cyclical business that THRIVES on bad news in the Economy.  I tell folks, "it's like a hospital - business is good - everybody's sick.  Look for bad news in the economy to drive rates lower."  (because very few of my clients are looking for a HIGHER interest rate).
So let's test that … (6 comments)

mortgages cary: FHA and Fannie/Freddie Loan Limits Higher EDIT - 02/08/08 12:26 PM

The Stimulus Package might actually help... The Senate kept the language in the Rebate and Economic Stimulus package that raises the loan limits for FHA, Fannie Mae and Freddie Mac.  THIS IS VERY good news for thousands of people seeking financing this year! 
We believe that this should bring additional activity for home above the $500,000 mark in our area because borrowers will have a 12 month window for EXCEPTIONALLY good interest rates (Jumbo interest rates are usually a full percent of interest or more higher than conforming interest rates).  If you hold an Adjustable Rate Mortgage on a second home, for … (25 comments)

mortgages cary: Thanks Mike! (My AR Testimonial) - 02/06/08 07:24 AM
So I was driving home yesterday...and I noticed I'd missed a call, checked my voicemail and let out a big ole' YAHOO! fist pumpin' and all (not very lady like)!  MAN was I psyched!  I'd gotten my second call that day from people wanting to know if I could help them refinance from their Adjustable Rate Mortgage!
Okay - so two leads in one day is NOT that big a deal if you're a top producer with 20 years of experience in the same area.  I get that... and I AM a top producer with 20 years of experience all of it … (15 comments)

mortgages cary: Suzy ORMAN on Real Estate - 01/08/08 02:28 PM

Thought this was interesting... spoke with a client yesterday who said she wasnted to SELL - but SUZY said DON'T!  Tried to explain to the seller that we don't live in one of "those" areas...
(15 comments)

 
Eleanor Thorne, Cary Mortgage Loans  919-649-5057 (Steve Thorne NC Mortgage Experts) Ambassador large

Eleanor Thorne

Cary Mortgage Loans 919-649-5057

Cary, NC

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Steve Thorne NC Mortgage Experts

Address: 111 Corning Road, Suite 230, Cary, NC, 27518

Mobile: (919) 649-5057

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