Entries from March 2008

FHA Mortgages Relaxed - Somewhat

Date March 31, 2008

Good News Surfaces in a Crazy Market!

Declining Markets. Recessions. Tightened Credit Guidelines. Underwriting Changes.

Enough Already!

It’s time for GOOD NEWS! And while this news does not directly impact Charlotte mortgage loans, this is still good news for us all.

A major (and I…

Over 1,000 over 1,000,000

Date March 31, 2008

Big Increase in Number of $1 Million Homes

The number of $1 million homes in Union County has more than tripled since 2004. In 2004 Union County’s tax records indicated 306 homes valued over $1 million. As of the last

Davidson North Carolina

Date March 30, 2008

on National Map

Davidson College - Davidson Wildcats

Thank you Davidson Wildcats for showing the rest of the world what Davidson North Carolina is all about. The class and determination in which you played in the NCAA Men’s Basketball Tournament was inspiring to all of us, even those…

Wachovia Pressures Loan Officers

Date March 30, 2008

Who’s Wachovia Looking Out For?

According to a front page story in the Charlotte Observer (Sunday March 30th, 2008), Wachovia is putting pressure on it’s loan officers to push it’s “Pick-A-Payment” option ARM mortgage program. The story highlights a borrower that approached…

Net Branch = Net Loss

Date March 29, 2008

What is a “Net Branch” mortgage company?

“Net branch” are mini franchises. The idea is that instead of actually opening your own mortgage shop, you join a company that allows you to open a “branch” in their name. The attraction…