KCM Blog

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Mortgage Payment

To Refi Or Not To Refi….THAT Is the Question

September 2, 2010

Holy Cow! Have you taken a look at where interest rates are these days??? There are Ten Year Mortgages in the 3.75% range for heaven’s sake! Yes, 3.75%!!! What are some of the issues to consider as you (and all of America) contemplates a refinance? 1.  Does it make financial sense? If you are considering [...]

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The 5 Components of a Good Credit Score

July 22, 2010

We are bombarded constantly about how important our credit score is. What do we actually need to know? We asked our ‘resident expert’, Dean Hartman, to shed some light on the matter. – The KCM Crew Everyone knows that you need a good credit score to get a mortgage.  Most even know that your score will [...]

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One More Reason Given for Not Buying a Home

July 7, 2010

We have been addressing some of the more questionable reasons people give for not buying a house each Wednesday. Three weeks ago, we covered Dumb Reason #1: Real Estate is no longer a good investment. Two weeks ago, we covered Dumb Reason #2: Renters are happier than homeowners. Last week, we covered Dumb Reason #3: Limited [...]

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Is FHA Trying To Become LESS Popular?

June 3, 2010

There is a buzz in the real estate and mortgage world that says that FHA is moving towards changing how they charge insurance premiums – again!  And the proposal I am hearing is going to reduce the number of people who are eligible for the FHA Program, as well as make the program less attractive. [...]

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To Pay Points Or Not To Pay Points?

May 6, 2010

That is a question I have heard for all my years in the mortgage business.  There is no black-and-white answer to this question; hence, the reason for the discussion today. Let’s begin with a definition of “points.”  First the expression “points” is a shortened version of the more technical name “Discount Points.”  Discount Points will [...]

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Interest Rate Forecasting in a Volatile Time

March 31, 2010

This past weekend, I saw a decent movie… Hot Tub Time Machine and one of the running themes in the movie reminded me of the shift in the bond market last week (and what our immediate future looks like). Without giving away the whole movie, I want to explain…. In the movie Crispin Glover plays [...]

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New FHA Rules

January 21, 2010

Today, after weeks of speculation, the FHA announced their plan to secure the solvency of the Insurance Fund.  And it is NOT good news for Homebuyers, and therefore, NOT good news for sellers either.  I’ll discuss the particulars in a minute; but first, let’s look at how this is the THIRD nail in the coffin [...]

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Stephen Colbert: Walking Away & Being Honor Bound

January 21, 2010

Hello KCM Community, Steve Harney had scheduled to post on the impact of walking away from mortgages today, but with the release of the new FHA guidelines we called an audible and brought in our guest blogger, Dean Hartman, for a special report. If you were anticipating Steve’s post for today, we apologize.  But we [...]

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Delinquencies: Roadblock to a Housing Recovery?

January 20, 2010

The current economy has devastated the finances of so many families in every income bracket and in almost every neighborhood in this country. More and more people are falling further and further behind in their mortgage payments. In the past people would take a second job or borrow money from family to catch up. Today, [...]

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The Long “Option ARMs” of the Loan

January 19, 2010

When the housing market was going strong between 2004 and 2006, many buyers were purchasing houses they were not able to afford with conventional financing. That created a need for less conventional mortgage products known as option ARMs (adjustable rate mortgages). These mortgages allowed a buyer to either pay less of an interest rate during the [...]

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