Mortgage Calculator

A good introduction on using Adjustable Rate Mortgages for advanced financial planning.

I first heard of the term “equity management” in 2003. I heard Barry Habib discuss this concept at a seminar at the Del Mar Racetrack (critics, please refrain from pointing out the obvious irony). My first thought was “Cool, they have a name for it now!” You see, I am an ARMs dealer and have been since 1996.

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Read more from this blogger: Confessions of an ARMs Dealer | BloodhoundBlog: National real estate marketing and technology weblog | There's always something to howl about...

It is important to understand the economic incentives of mortgage brokers and other players in a real estate transaction.

Second, it’s hard to tell who has your best interest at heart in any real estate transaction. There are lawyers, mortgage brokers, home inspectors, and real estate agents all vying for your business. This translate into vying for your money!!!! Be careful what color glass is in their set of eye glasses. If you are like me, you have found the only people who have your best interest at heart is family.

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Read more from this blogger: Is Real Estate Diseased?

How commodity pricing uncertainty can push up housing prices.

Belarus’ energy problems are also having an impact on the rest of the economy. Housing prices have doubled as those with extra rubles have put them into hard assets before an anticipated increase in inflation. Utility prices are rising. Consumer prices have grown about twice as much during the first quarter of 2007 as compared to last year.

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Read more from this blogger: Feeling the Pinch

Proposed changes to California's lending laws will make lending to illegal aliens illegal.

According to House Representative from California John T. Doolittle’s website, new legislation is in the works to stop dozens of banks from lending to illegal aliens.

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Read more from this blogger: Related to Mortgage � End of Mortgages for Illegal Aliens in California?

A look at the Duesenberry Effect, housing prices, and consumer spending.

In many high cost metropolitan areas housing is now consuming 40 to 50% of a family’s net income, a far cry from the conservative 28% which most financial experts suggest. As we are facing a housing led recession, will consumers adjust their spending habits in accordance with declines in home equity? I argue that they will not because of the Duesenberry Effect and the relationship is not a direct one.

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Read more from this blogger: Dr. Housing Bubble - How I learned to Love SoCal: Irrational Housing: Insiders out Early and The Duesenberry effect.

Click through for another cool mortgage calculator.

For you folks out there in Nevada and Washington, one good example would be to check out this Mortgage Rates calculator. Based on your credit history as well as other demographic information, your quote will be determined accordingly of course through easy online navigation on the calculator.

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Read more from this blogger: Cool Calculator

A look at why mortgage brokers have trouble with the Smith Manoeuvre.

Many mortgage brokers and financial advisors can’t set up the Smith Manoeuvre for you. Why? Let’s start with the mortgage brokers.

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Read more from this blogger: Why many Mortgage Brokers can’t set up the Smith Manoeuvre

One less financing option when you deal with a mortgage broker.

Countrywide was the largest originator of what they call “Pay Option ARMs” in 2004 and 2005. They were successful by offering large yield spread premiums to the mortgage brokerage community for these products. They knew that unscrupulous brokers and originators would “sell” the low 1% start rate while ignoring the fully-indexed rate charged to a customer.

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Read more from this blogger: A Farewell to ARMs: One Less Option

Good tax news if you have private mortgage insurance.

At the end of 2006, with the passing of its omnibus tax bill, Congress made private mortgage insurance for middle-income home buyers tax deductible in 2007. Private mortgage insurance, or PMI, is required when a homebuyer puts down less than 20% and protects the lender in the event of foreclosure.

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Read more from this blogger: Private Mortgage Insurance Now Tax Deductible