Michigan Mortgage

Loan Modification – The End of the Road or Just the Road Less Traveled?

Why do Lenders Modify Loans?

Since we began working with Dave Ramsey’s listeners through our preferred partnership with Churchill Mortgage in November of 2009, I talk with no less than 100 families per month about refinancing their homes. For most, the call quickly becomes a math problem that essentially determines the cost and benefit of the loan and whether or not the person would be better off by simply adding money to their monthly payment and just paying it off more quickly on their own. Refinancing makes sense for some, and for others they should just keep doing what they are doing.

Sometimes though, it’s more complicated and difficult. Yesterday was one of those calls…

Why Bother Refinancing – IV

I’ve almost done with my debt snowball and will be working on my mortgage next. I should be able to pay off my entire mortgage within the next 7 or 8 years. Should I even bother with a mortgage right now?

Since we have been working with Churchill Mortgage out of Tennessee, we have had the pleasure of speaking with listeners of the Dave Ramsey Radio Show. He airs all over the State of Michigan and when his customers call the only mortgage company that Dave has ever endorsed they call Churchill Mortgage.

Churchill mortgage has to decide how to handle changing call volume and difficult states…

Why Bother Refinancing – II

I’m thinking about selling my home soon and moving out of the area. Should I bother refinancing?

This client of mine (Joe again) is in a $250,000 mortgage that I wrote for him in 2006, it was a 15 year fixed rate loan and his rate is 5.875%. He put plenty of money down at the time and since he has been making payments on a 15 year clip, he has enough equity in his home in order to qualify for a mortgage right now even though home values have dropped in his neighborhood. The appraisal would only…

Why Bother Refinancing – Series

There are many articles being written right now that are highlighting the fact that interest rates are at all time lows but home owners are not making application for new mortgages at as high of numbers as one might think.

The reasons given for this are many and varied…

Toxic Adjustible Rate Mortgages

Lets face it, these loans have more moving parts than a Swiss watch and most of them should never have been written – I will even include some of the ones I wrote. Not so much that the product is so scary, but because the uncertainty is more than many want to live with day to day. Be that as it may, some are still in this deal and we should keep a level head about things. They still need good advice…