Michael Schindler's (moneystuff) Blog

Mortgage and Lending - Your IRA guy!
What are you doing? So, in this "buyers" market, to sell a home, to me, it really is no longer the practice of just putting it on the MLS and waiting for a buyer to appear. Outside of listing it, what are you doing as a Realtor to attract potential buyers to your listings? here's the "normal" thi...
How many mortgage lenders are gone?  381 Imploded* Lenders since late 2006: 381. Assurity Financial Services, LLC380. Premium Capital Funding, LLC dba TopDot Mortgage 379. First Regional Bank, Century City378. Security Atlantic Mortgage Co.377. Apex Lending, Inc.376. Charter Bank, Santa Fe375. Eq...
Just an FYI (especially for Minnesota), we still have the ability to issue (and are issuing) loan approvals based on income, asset and, on some refinances, even appraisal documentation waivers..... I don't know of anyone else doing this....as a matter of fact, I was just referred a loan recently ...
12/12/08 Here's the updated list from Mortgage Implode (www.ml-implode). Sad to think of all of the people that these lenders closings effects...... and what a ripple effect it has (title, appraisers, the paper guy, coffee guy, the restaurant next door, etc). "Imploded" lenders: The "imploded" st...
Don't forget-because it's just around the corner, that FHA down payment changes go into effect on January 1st.  The changes will be..... Down payment minimum of 3.5%.  Currently it is 3% total but in most areas it is 2.25% down with .75% being able to come from closing costs.  Not anymore.....now...
Twin Cities Area! Our FHA loan limits for a 1 unit home is currently $365,000 but effective 1/1/09, they will be dropping down to $318,550. FHA is still a great program which is insuring most of the riskier, over 80% mortgage paper currently. If you have a buyer looking in/around the $400k range,...
Posted at 12:25 PM on Thursday, October 30, 2008 by District 9 Web Admin WASHINGTON (Oct. 30, 2008) -- Veterans and active-duty military not in uniform can now render the military-style hand salute during the playing of the national anthem, thanks to changes in federal law that took effect this m...
My Notes Wow!  So much has happened recently....so, in trying to keep positive about this industry, I will say that there are some great housing deals out there for buyers.  Other than that, well, you read the paper....(which BTW, is bad because it's all negative press)  With so that negativity a...
YES! We have it! Realtors, if you don't know about them, get to because this is a very special product!  As the baby boomer generation begin to reach age 62 (age requirement for a reverse is age 62), this product will help them move to their next level (buying a home without spending all of their...
We know that the bond programs are the only source of down payment assistance in many areas.   None of the new bond programs have been able to begin because there are no buyers for these bonds.For most of the 2000's, Fannie Mae and Freddie Mac were the major or only buyers of mortgage revenue bon...

Michael Schindler

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