Friday, December 28, 2007

Fixed rate mortgage may not be the best choice

The US may go into a deep recession because the mortgage industry let their greed overcome their good judgment.

The many bankruptcies occurring across the US due to strange and unusual mortgage practices have caused many banks to shy away from adjustable rate mortgages.

Is a fixed rate mortgage the best choice for you? Maybe not.

Read on.....

Sunday, December 23, 2007

Interest only mortgage

If you really need small payments to make your home buying possible, then you could consider an "interest only mortgage."

This works by allowing the buyer to make interest payments only for 5-10 years. No principal is paid off during that time.

Read more about this here:

Saturday, December 22, 2007

Bank or Mortgage Broker?

I took my last mortgage from our local bank.

At first my real estate agent hooked me up with a mortgage broker she knew. At the first and only meeting with him I felt we had a personality conflict. I would never let that end a business relationship but the next day I stopped by my bank to make a deposit. I saw the mortgage officer sitting in her office so I walked in and said hello.

She was very gracious and treated me more like the good customer I am, unlike the mortgage broker. She was very aggressive about wanting and getting my business. Within a week I secured my rather hefty mortgage with my banker. She is happy and I am happy.

Read more about mortgage brokers here:

When I think about it, I like to do business with people I like. I did not know either the broker or the banker. But I liked the banker and, frankly, I disliked the broker. I felt that my banker listened to me more carefully and she wanted my business more.


Friday, December 21, 2007

Cash-back real estate sales

There is a lot of talk going on about real estate professionals offering quite large rebates if you buy a home through them.

This is a benefit for the consumer.

Read this to learn how it is done:

greg cryns

Tuesday, December 18, 2007

Real estate agents and the Internet

I don't think real estate agents really understand how to make the internet work for them.

This is not surprising since agents spend almost all of the time working directly with their clients in a very personal manner. The Internet is very impersonal and not at all what a good real estate agent can learn quickly (nor anyone else for that matter).

Read The Truth About Real Estate Agents and The Internet for some valuable insights.

Greg Cryns