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Let MCB Mortgage Help you or your company with all your mortgage needs.MCB Mortgage, Inc. specializes in Secondary Marketing & Managed Broker Programs for Banks and Credit Unions.


Monday, November 27, 2006

The Great Real Estate Investor Balloon

The air is leaking out of the big Investor side of the real estate market. Many buyers who made purchases in the last 6-12 Month are now underwater on their investments. Now add the rising tax bills and rising Insurance premiums to the deal and things do not look so good. They are trying to unload their property or rent them out but are still going to come out on the losing side unless they have enough money to hold on for a unknown period of time until prices get caught up by inflation and demand. It is no different than a few years ago when EVERYONE became a stock market EXPERT. This time EVERONE became a Real Estate Investor (at least in name) without the knowledge to go along with it. It is just part of the life cycle. Sometimes chasing after the BIG gain causes a lot of grief and trouble in the end. Gain knowledge before investing in ANYTHING. It will help to prevent (not all of the time)large losses to whatever investments you make. Remember even the "experts" get burned many times. If you are looking for a home to live in look with knowledge for the right price and the right rates and fees. The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay one of the highest rates in the country on their savings account, with no minimums, no fees.

Tuesday, November 21, 2006

Can You Smell the Foreclosures?

As of the End of October there have been over 1 million home that are in or have been in some stage of foreclosure. That number is rising every day. With Higher tax bills now coming due and higher Insurance premiums in the future it looks very bleak. Many of these homeowners (or ex-homeowners) had the misfortune also to have a Arm. Many of them were told that a Arm is the way to go to get into that dream home (nightmare). Everywhere you look the Lenders are still pushing Arms because of their low start rate. They do not care if you can afford the payment later because we are the NOW generation. We want it and We want it NOW. Many of the Now generation Homes will be the FORECLOSURE Homes in the future. Plan very carefully. Shop hard. Make offers and do your homework so you will not be one of these statistics. The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay one of the highest rates in the country on their savings account, with no minimums, no fees.

Tuesday, November 07, 2006

Rates are Back Down Today But for how Long?

Rates did go up Friday by .125% but as of today have now come back down to where they were. But the good news is Home prices have and continue to drop in many areas. In Florida New Home Prices have dropped $30-75,000 because of huge drops in Land prices in many overvalued areas. This is not the case in all areas of the country but it is happening in many of the areas that went crazy with rising property values. Now they are getting their new tax notices and are not very happy campers. We still see many signs of the economy slowing down and yet the cost of living is rising. Ask anyone who has to pay their Medical Insurance premium or their property taxes this year. Ask them about their Homeowners insurance premium. Ask them about how much their Escrow Account is going to be adjusted on their Mortgage. If they have a Adjustable Arm they should be very worried. We see the clamor of higher prices all around us and it will make the consumer slow down or stop their buying of goods. We feel Mortgage Rates are going UP and will continue to do so. In many areas Homeowners cannot sell their home and are dropping their prices. This is great for the home buyer. But remember the Insurance premium and taxes are not fixed and can go up a lot. Buy the home you can afford and shop hard for the best price and interest rate and fees. The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay one of the highest rates in the country on their savings account, with no minimums, no fees.

Monday, November 06, 2006

All Quiet in the Mortgage Market

Rates did go up Friday by .125%. But the good news is Home prices have and continue to drop in many areas. In Florida New Home Prices have dropped $30-75,000 because of huge drops in Land prices in many overvalued areas. This is not the case in all areas of the country but it is happening in many of the areas that went crazy with rising property values. Now they are getting their new tax notices and are not very happy campers. We still see many signs of the economy slowing down and yet the cost of living is rising. Ask anyone who has to pay their Medical Insurance premium or their property taxes this year. Ask them about their Homeowners insurance premium. Ask them about how much their Escrow Account is going to be adjusted on their Mortgage. If they have a Adjustable Arm they should be very worried. We see the clamor of higher prices all around us and it will make the consumer slow down or stop their buying of goods. We feel Mortgage Rates are going UP and will continue to do so. In many areas Homeowners cannot sell their home and are dropping their prices. This is great for the home buyer. But remember the Insurance premium and taxes are not fixed and can go up a lot. Buy the home you can afford and shop hard for the best price and interest rate and fees. The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay one of the highest rates in the country on their savings account, with no minimums, no fees.

Friday, November 03, 2006

Big Rise In Rates Today

The Unemployment Rate dropped to 4.4% which is causing our rates to rise almost .25% in ONE day. We still see many signs of the economy slowing down and yet the cost of living is rising. Ask anyone who has to pay their Medical Insurance premium or their property taxes this year. Ask them about their Homeowners insurance premium. Ask them about how much their Escrow Account is going to be adjusted on their Mortgage. If they have a Adjustable Arm they should be very worried. We see the clamor of higher prices all around us and it will make the consumer slow down or stop their buying of goods. We feel Mortgage Rates are going UP and will continue to do so. In many areas Homeowners cannot sell their home and are dropping their prices. This is great for the home buyer. But remember the Insurance premium and taxes are not fixed and can go up a lot. Buy the home you can afford and shop hard for the best price and interest rate and fees. The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay one of the highest rates in the country on their savings account, with no minimums, no fees.

Thursday, November 02, 2006

Can You Smell the Inflation?

We see many signs of the economy slowing down and yet the cost of living is rising. Ask anyone who has to pay their Medical Insurance premium or their property taxes this year. Ask them about their Homeowners insurance premium. Ask them about how much their Escrow Account is going to be adjusted on their Mortgage. If they have a Adjustable Arm they should be very worried. We see the clamor of higher prices all around us and it makes the consumer slow down or stop their buying of goods. We feel Mortgage Rates are going UP and will continue to do so. This little rally will NOT LAST. In many areas Homeowners cannot sell their home and are dropping their prices. This is great for the home buyer. But remember the Insurance premium and taxes are not fixed and can go up a lot. Buy the home you can afford and shop hard for the best price and interest rate and fees. The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay one of the highest rates in the country on their savings account, with no minimums, no fees.

Wednesday, November 01, 2006

Rates are Still on the Move Slow but Sure

Rates have dropped .25 in the last week which is great news for Buyers along with dropping home Prices. Friday could change things so be careful when shopping for rates. Good buys are out there If You Make Them! The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay one of the highest rates in the country on their savings account, with no minimums, no fees.

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