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Articles written by Tammy Engel

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 By Tammy Engel    Local News    April 15, 2017 

It's a conspiracy!

Is there a conspiracy surrounding the appraisal report for your home purchase or refinance? Recently a buyer was upset about an appraisal value matching the purchase price, so let’s review the...

 

Rates are up! Rates are down!

Gotta love the media. They scream at us that interest rates are worse, and that interest rates are better. All they’re doing is reading from a teleprompter – so what’s true? It’s all about...

 

Choose carefully

There’s a new survey out by ClosingCorp telling us that last year more than 50% of lender’s loan estimates to borrowers had to be revised before the close of escrow. Buyers complained that...

 

Comparing loan offers

It’s pretty easy to go on-line and get figures about your next home loan. Does what you see on the screen actually end up being what you get? It’s not always a matter of bait and switch; it’s a...

 

Keep comparing!

Twice this week my local quote was beat an online/mail lender. Once was for a reverse mortgage, and once for a plain refinance. Be sure you are talking to a local mortgage advisor before you latch on...

 

'You can have any loan you want!'

Um, no, you can’t. But this was said by someone holding themselves out as a lender, to a friend of mine. He heard, “If you put 20% down, you can have any loan you want!” First, a check of the...

 

Affordability snapshot

We got a great surprise from FHA this week: They’re lowering mortgage insurance premiums! Good news for buyers and refinancers alike. Since interest rates have moved over the last quarter, it’s...

 

What happened to rates?

Happy New Year. Have you been getting a bunch of mailers about refinancing your current home loan? Me, too. Is it really a good time to refinance? Only “maybe.” Many factors come in to play when...

 

Be like 'Buyer A'

“I’ve never worked with someone like you before when buying houses … it makes me wonder how many times I’ve been swindled or made bad decisions – thank you for walking us through...

 

Need help?

If you’re behind on your mortgage payments, or worried about how you’ll make the next one, join the more than 1.5 million families who have been helped so far. Fannie Mae has a great resource at...

 

Don't fall for it!

After you’ve done a new home loan, your mailbox gets stuffed with all kinds of mail. Anything you receive from your lender would be important, of course, as would anything from the local county tax...

 

Know before you owe

It’s important to have a monthly housing budget in mind when you shop for a new home. The on-line calculators you see on web sites are interesting, but don’t account for everything that might be...

 

It's taking FOREVER (again!)

Several weeks back my phone rang and a California City caller wanted to know if it was real that home loan appraisals were taking over a month. For her rural area, it was true. What’s that about?!...

 

Notes From a Seller

Now that I’ve been on the other side of the desk, let me share a few personal notes about being the seller in a real estate transaction. It’s really fun to hear your Realtor call to say there’s...

 

Really – shop that internet offer!

Out of curiosity, I looked at online mortgage rates today. The findings are astonishing, and suggest that before you click away, you really should shop any online mortgage offer you’re...

 

'Roadblocks to the American Dream'

The Center for California Real Estate has released a report about “Roadblocks to The American Dream.” In it, they cite current challenges facing home buyers. Here are their findings: 29% have...

 

'I'm a little put out…'

If you have been party to any home financing recently, you’ve probably said the same thing: “This should not be anything of concern, as I have very strong credit.” Welcome to my world. Once...

 

Why a Calculator Isn't Helpful

She was very surprised when I told her the monthly payment would be $1127 per month. “But my Realtor told me the payment would be only $925!” The Realtor was using a mortgage calculator to...

 
 By Tammy Engel    Local News    July 9, 2016

Choosing your escrow company

It’s less prevalent than it was before, but sometimes you still see listings where the seller has an established relationship with their own title and escrow company. Oftentimes this would be a bank...

 

Hooray for USDA, and Other Stuff

This fall, the USDA home loan program is reducing its mortgage insurance premiums, which will make its loan program more affordable than ever. In context, it means that using USDA financing to buy a...

 

Be Savvy

Consumers, we want your business! Advertising is designed to make you pick up the phone, or visit a web site, and it’s funny the way things are presented to compel you to do so. There are ads that...

 
 By Tammy Engel    Local News    May 28, 2016

Does Having a Co-Signer Help?

When you bought your first car, mom or dad was probably there to help you qualify for the car loan by being your co-signer. That made them jointly obligated for repayment of the loan, since you...

 
 By Tammy Engel    Local News    May 14, 2016

Do This!

Who doesn’t love a good list? Here’s a resource for anyone thinking about buying a home or refinancing. Use it to educate yourself now about what you’ll be asked to document for your mortgage...

 

Exceeding your budget

There’s a popular television show depicting the home buying process, where we get to watch home buyers look at different properties with their Realtor. There’s plenty of conversation about...

 

New year financing strategies

Take time now to review your financial health. Investigate some of these ways you might re-arrange your financing to save money this year and beyond. Refinance your home loan for a lower interest...

 

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