Everyone loves a comeback story. A recent article in the Wall Street Journal reported on buyers that are making a comeback – “boomerang buyers.” These buyers aren’t new to the market but they are experiencing home buying differently the second time around – with a foreclosure in their past. While it seems like just yesterday […]
Category: Home Mortgages
Posted inHome Mortgages, Thought Leader
Election Outcome Doesn’t Really Affect Home Prices? Or Does it?
With polling results reflecting an extremely close presidential race, we are not predicting a winner. But one thing we can predict is that no matter whether there will be a moving van driving up to 1600 Pennsylvania Avenue in January or the Obamas will be in residence, the housing market may suffer. The cyclical nature […]
Posted inHome Mortgages, Thought Leader
Why the Housing Recovery Matters
Recently news outlets have been reporting small gains across the country in the housing market. Home prices improved in 20 cities, including Atlanta, and reporters were quick to add that an improving housing market will benefit the economy as a whole. No one followed up with an explanation of why a healthy housing market has […]
Posted inHome Mortgages, Thought Leader
Consumers – Data confirms Optimal Time to Buy
The Metro Atlanta Housing Market has entered a rare phase in normal housing cycles. Gradual diminishing benefit generally follows after this point is reached. Current housing data confirms housing prices are on the rise, inventory is significantly reduced, and historically low mortgage rates although slightly higher are still available. The down side risk of single […]
Posted inHome Mortgages, Thought Leader
3 Common Misconceptions About Buying a Home
By J.D. Crowe, Senior Vice President of Southeast Mortgage Working in the mortgage industry, I can’t believe how many customers are pleasantly surprised at their ability to purchase a home. Likewise, it is unnerving to hear how many misconceptions there are about what it takes to purchase in this economy. Here are some of the […]
Posted inHome Mortgages, Thought Leader, Thought Leadership
New Consumer Financial Protection Bureau Rules will Help Protect Consumers
By Cal Haupt, president and CEO of Southeast Mortgage Earlier this month, the Consumer Financial Protection Bureau (CFPB) announced their proposed rules to protect homeowners and increase mortgage servicer accountability. The CFPB asked consumers, a Small Business Review Panel and mortgage industry professionals for their input while developing their proposed rules. The public has 60 […]
Posted inHome Mortgages, Thought Leader, Thought Leadership
Should You Pay Off Your Mortgage Early?
By Cal Haupt, president and CEO of Southeast Mortgage In Samuel Coleridge’s epic poem, “The Rime of the Ancient Mariner,” the narrating sailor details a stalled voyage on the sea: “We stuck, nor breath nor motion; as idle as a painted ship upon a painted ocean.” Our debts weigh us down, and can make us […]
Posted inHome Mortgages, Thought Leader, Thought Leadership
Avoid Being a Victim of Mortgage Fraud
Just this week a federal judge sentenced a former Auburn attorney to nearly four years in prison for mortgage fraud. James Boyd Douglas Jr. handled mortgage refinancings and real estate closings and was found guilty of embezzling $2.3 million from clients. An Atlanta area woman and her brother ran a real estate scam in Baldwin County […]
Posted inHome Mortgages, Thought Leader, Thought Leadership
Consumer Will Benefit From Simpler Mortgage Disclosure Form
For more than 35 years, two federal laws (the Truth in Lending Act or “TILA,” and the Real Estate Settlement Procedures Act or “RESPA”) have required lenders and settlement agents to give consumers who take out a mortgage loan separate but overlapping disclosure forms regarding the loan’s terms and costs. This duplication has long been […]
Posted inHome Mortgages, Thought Leader, Thought Leadership
Basel III To Change Mortgage Landscape
The mortgage industry has undergone many significant changes as a result of the financial crisis. One of the less known pending changes is about to take its final form and in its current draft Basel III will increase consumer costs and reduce consumers’ choice of mortgage providers. Basel III requires that a bank must maintain common […]
Posted inHome Mortgages, Thought Leader
Now’s the Time for First-Time Homebuyers
If only the experts could agree. In Monday’s paper, The Wall Street Journal covered five personal finance topics, finding completely opposite opinions on each topic. Should you purchase long-term care insurance? Are variable annuities a good investment? There was even a debate over whether children’s allowances should be tied to chores. Of course the one […]
Posted inHome Mortgages, Thought Leader
Thirty Days is Long Enough for Mortgage Closing
For as long as I can remember – and I expect much longer than that – contracts for the purchase of residential real estate in Georgia have been written for 30 days as a normal practice. Today, we are seeing many real estate professionals writing extended contracts, for 45 to 60 days, and even longer […]
Posted inHome Mortgages, Thought Leader
The Value of Industry Partnerships
Every month a few members of the Client Relationship Management team from Southeast Mortgage pack up their professional photography equipment and head to Alpharetta where they host a social for Realtors and take new headshot portraits of anyone who wants one. The events have been very well received, as the Realtors and real estate agents […]
Posted inHome Mortgages, Thought Leader
Finding the Right Lender
A homeowner in Florida was puzzled to receive a condolence letter for his wife’s death from his mortgage lender. Why were they sorry for his loss? His wife was very much alive. But because their lender declared her deceased, they were unable to get a loan modification and despite repeated phone calls and a visit […]
Posted inHome Mortgages, Thought Leader
Tips for Applying for a Mortgage
While most of us have never had the unpleasant experience of sitting in a police interrogation room, fans of crime TV shows like me will recognize this scenario. “I’ve already told you what I witnessed on the night of October 22, 2011 seven times,” says the frustrated and exhausted witness. “Well, it’s time to tell […]
Posted inHome Mortgages, Thought Leader, Uncategorized
The Quiet Change Benefits Consumers
Prior to the financial crisis, mortgages were sold and delivered nearly as easily as filling out a change of address slip at the post office for your new home. Anyone could choose to sell mortgages and anyone with a small bond could open a mortgage company. This was our industry from 1993 to 2008. Today, the landscape […]
Posted inHome Mortgages, Thought Leader, Uncategorized
Lobby Day Beneficial for Consumers, Industry
The mortgage industry has had to deal with so much new legislation on the federal level lately. We’d prefer to just be able to do our jobs without dealing with the consequences of new laws. Fortunately, on the state level, we are able to meet personally with legislators and educate them on possible consequences of […]
