MARTY's Blog

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Mortgage and Lending - LINCOLN MORTGAGE
THE MISSION OF THIS BLOG IS TO EDUCATE AND UPDATE CLIENTS INTERESTED IN CHANGES AND TRENDS IN THE MORTGAGE INDUSTRY, TO ENCOURAGE DIALOGUE AND INVITE EVERYONE, FROM RENTERS AND FIRST TIME HOMEBUYERS TO INVESTMENT/SECOND HOME AND EVEN COMMERCIAL CLIENTS. I WILL DO MY BEST TO ENSURE A CONCISE, ACCURATE ANSWER. I'VE BEEN IN THE INDUSTRY SINCE 1987, AND I STAY ABREAST OF THE CHANGES IN PROGRAMS AND GUIDELINES. REST ASSURED THAT IF I DON'T KNOW THE ANSWER TO A QUESTION, I'LL DO MY BEST TO GET IT.
RECENT BLOG POSTS
SURPRISE, SURPRISE! A report in USA TODAY states that the banks that received federal assistance CUT LOANS & GAVE RAISES! The report goes on to say that TARP-assisted banks were LESS aggressive in lending and gave BIGGER raises to themselves than banks that did not receive the aid. I don't think ...
04/22/2010
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When does a one hour car trip from South Jersey to Delaware cost $200? WHEN YOUR EZ PASS ACCOUNT RUNS OUT WITHOUT YOUR REALIZING IT!!!! My son goes to school at Wesley College in Dover DE. On Jan 10th my wife and I followed him down with a truck full of clothes and necessities, as his second seme...
03/25/2010
I recently settled a property in South Jersey with a Streamline FHA 203K loan. For those of you who are not familiar, the Streamline 203K refers to minimal processing on any property which requires less than $35,000 in total repairs. There are old horror stories about 203K's. Back in the day, the...
01/21/2010
FHA HAS RECENTLY ISSUED NEW GUIDELINES REGARDING CONDOS. UP UNTIL NOW, A CONDO FOR WHICH THE BUILDER HAD PROCURED FHA APPROVAL WAS AUTOMATICALLY ELIGIBLE FOR FHA FINANCING. NOW, EVEN 'FHA APPROVED' CONDOMINIUMS WILL UNDERGO SCRUTINY.   HERE ARE SOME OF THE GUIDELINES: 1) PROJECT MUST BE 100% COMP...
01/19/2010
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I was perusing  a local paper, the Philadelphia Inquirer, this morning and saw an obituary that caught my eye, mainly because I saw that the deceased's age was 31. The picture showed a smiling young man. To give full credit where its due, this beautiful piece was written by Inquirer staff writer ...
12/07/2009
OK, I know that every so often I begin a post with, "Now I've heard everything," or "You can't make this s__t up", but this may be the topper. I was perusing the want ads in the Sunday paper this morning because my son's home from college for the summer and needs work. I came across an ad that al...
05/03/2009
One of the great frustrations of today's market, from a Loan Officer's point of view, is the seeming unfairness of the structure of the bailout package. People who bought completely beyond their means and are now delinquent, bankrupt, or worse, can get a loan modification, while the people who ar...
04/27/2009
Several of the realtors that have referred prospective buyers to me have voiced concern and frustration due to lowball offers. These are professionals who have done their best to advise clients that such offers will not be accepted, and, maybe not even countered. Yet the perception persists that ...
04/22/2009
Last night I received a call from an excellent realtor I've worked with for years. She sounded down, uncharacteristicly. Seems her prospective young buyers, who just had a baby, had suddenly decided they would not purchase a house that seemed perfect in every way. The property is in Millville, NJ...
04/11/2009
The newly proposed tax credit that is to be voted on Feb 10th by Congress has many implications for anyone associated with the real estate industry. This $15,000 tax credit would replace the $7,500 tax credit which only benefited first time homebuyers. This new credit is an attempt to motivate th...
02/08/2009
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MARTY HANCOCK

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