What is my job you ask? Well I am a finance major. I love numbers. I know, I am a total math geek. I oogle over the opportunity to compute and talk gross margins, net margins, return on investment, loan to values, rates, recoups, you name it I love to speak the language of math and business finance love. I have been working in retail finance since I was 18. I worked in car dealerships until I was 25, I couldn’t take the hours anymore. LOVED the money, HATED the hours and my bosses were jerks back then. Really they weren’t, I was just too young to know how to deal with them. Now….they make me laugh! After working as a finance manager for that many years you are unsure of what type of job you can get out of the industry. I was blessed enough to find a position in the mortgage industry.
I know I know, lay off the comments, I went from one catfish position to another in some people’s eyes, but really the catfish in the mortgage industry are thieves and crooks. I will not be lumped with them.
I love and hate my job in the mortgage industry right now which is why I have disregarded it some and shown such a strong interest in my blog. I don’t have to hear negativity unless I want to, I don’t have to deal with crap….unless I want to. I can hit the little red X in the top right corner and ignore it all, where my job I could not do that.
I would hear horror stories of how people were in awful loans, in part I think their own negligence for not paying attention or asking enough about the loan they were getting into, I would hear how they just foreclosed, now filed bankruptcy, and I have to tell them they cannot touch a house to buy for THREE years! UGH!
Other days, I love my job. I educate folks who speak to me. If they think I am going to sell them they are SOOO wrong. I am not going to sell you on a mortgage, that is the job of the real estate agent, they sell. I will educate any and everyone on the HUNDREDS of different guidelines and regulations for purchasing and refinancing a home. I will give you the details, I will educate you on the differences, I will give you options and let you make an educated decision about YOUR finances on your house.
So my educational bit right now to any and all:
THIS IS A BUYERS MARKET!! Now is the time to go buy a home. The market did not “fall out” like all claim. For some yes the bottom did fall out of an unsupported market, while other markets merely normalized is what I like to call it. Normal appreciation on any home in ANY area is a standard of 5-15%, not the 50-100% the market saw and could not support. Coupled with crappy lending on behalf of some bankers and lenders, a recipe for disaster clearly by the state of the economy.
The other thing is that people are afraid they cannot get a loan or cannot refinance out of the loan and situation they are in now. DO NOT BE AFRAID!! Get out there, be proactive, talk to me if you need to, send me an email, programs exist to help folks stay in their homes. One plus of the reforming White House regime we have. Also ask questions. Do not be afraid to ask questions. If your loan officer or broker cannot answer your question or give you an answer, BAIL!! They are shady and lucky to still be operating.
Credit, if credit is a problem, okay, so fix the problem. We can do a government loan. Nothing wrong with a government loan. My very first house and my first loan, on a new construction home, 10 YEARS ago was a government loan, FHA. In fact, here is the kicker…….my rate……7%!! And I thought I got a smoking good deal. Today….yeah can you say 5% and still under 6% if at the worst case scenario.
Now is the time. Grab the old bull by the horns and look at your situation. Even if you situation is not dire, think ahead to the future, the lack of stability still looming in the economy. The event horizon. Refinance now at the lower rate. You can even determine your term. You don’t have to do a 30 year. 25 years, 20 years, 15, how about 10 years, all fixed rates, all smoking good rates.
So with you in mind and my blog, I may not post all the time as I need to get off my duff and yield a paycheck, by helping folks achieve the American dream of owning a home and keeping the one they already have. Please feel free to email me, everything is confidential under law. Otherwise I spend time in a 5X5 cell in the fancy Leavenworth Hotel.
BTW My card is a little dated, we are licensed in more states. Feel free to check out our web page with all of our banker license numbers and states of operation, and read all about my coolest bosses ever! www.southwestdirectmortgage.com