New Jersey is not New York City

Posted by & filed under Buying, For Sale or Rent.

  New Jersey is not New York City.  Neither is Bergen County NYC.  Because so many of us see it as the same area, mistakes happen.  When this involves your mortgage, results are often disastrous. New Jersey is not New York City Bergen County is in New Jersey.  We’re the northeast corner of NJ immediately across the Hudson river from NYC.  Above Manhattan is Westchester and to our north is…

How to Get A Great Mortgage Rate

Posted by & filed under Uncategorized.

The Best Place to Start How to get a great mortgage rate involves several different aspects of your life.  While all of them are important some are more so than others.  The best place to start is to find a great banker.  I’ve said it before and I’ll say it again – I love the internet but nothing replaces a great mortgage professional. A great banker will do more than…

Mortgage Rates Don’t Count – A Long But Important Article

Posted by & filed under Buying.

  I’m quite serious – mortgage rates don’t count at all when you’re shopping for a house.  In fact, when you are buying a home and you go to those wonderful websites that promise you everything in 30 seconds or less, you can easily damage your credit.  Let me explain why mortgage rates don’t count and it’s dangerous to shop around. Today we do everything through the web and most…

Real Estate Appraisal Rules Have Changed….Uh Oh

Posted by & filed under Buying, Selling.

Real estate appraisal rules have changed in major ways.  The changes are a response to the financial crisis.  It’s an effort to avoid issues in the future that created havoc. When the Home Valuation Code of Conduct went into effect by Fannie Mae and Freddie Mac on May 1st, appraisal protocols for mortgage loans changed. To protect consumers, loan officers, mortgage brokers and real estate agents can no longer choose appraisers….

Beware of Short Sale Fraud

Posted by & filed under Selling.

Beware of short sale fraud.  This is a growing problem in the short sale market. There is a new thief who preys upon homeowners who must put their home on the market as a short sale. Simply put, a short sale occurs when a homeowner can no longer pay his mortgage, has no other assets and the loan amount is greater than the home is worth. As a result there…