The American Dream
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The American Dream
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How Mortgage Rates Are Connected To The Fed Funds Rate

How Mortgage Rates Are Connected To The Fed Funds Rate | The American Dream | Scoop.it
The Fed adjourns from a 2-day meeting Wednesday. Should you worry about a rise to the Fed Funds Rate? How mortgage rates and the Fed Funds Rate are linked.
Adam Black's insight:

Ever wondered how one influences the other?

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Alternative Credit Scoring Meets the Mortgage World

Alternative Credit Scoring Meets the Mortgage World | The American Dream | Scoop.it
Last month, Reps. Ed Royce (R-CA) and Terri Sewell (D-AL) introduced HR 4211, the Credit Score Competition Act of 2015, a measure drafted to allow the government-sponsored enterprises (GSEs) to use other credit scoring models besides FICO.
Adam Black's insight:

“There are many problems with the current system that shuts out creditworthy borrowers,” Councilman said. “One of the biggest offenders is medical collections. Often, the applicant isn't even aware a problem exists due to delays or other issues with insurance payments. It is not uncommon to find a borrower who has an excellent payment history on installment and revolving credit that has a low score due to medical collections.”

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Effort to improve transparency in mortgage forms has more pros than cons | Real Estate Weekly

Effort to improve transparency in mortgage forms has more pros than cons | Real Estate Weekly | The American Dream | Scoop.it
Adam Black's insight:

Scared of suprises when obtaining a mortgage. With the implementation of #TRID. Those suprises are minimized.

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Want an FHA Loan? It's About to Get More Difficult - Real Estate News and Advice - realtor.com

Want an FHA Loan? It's About to Get More Difficult - Real Estate News and Advice - realtor.com | The American Dream | Scoop.it
A few changes are coming Sept. 14 to FHA loan requirements, and some of them have the potential to be a deal breaker for buyers—at least in the short term.
Adam Black's insight:

“Take the time to meet with an experienced loan officer who will be able to put together the best buying ‘game plan’ for you,” I've paraphrased this so many times. It's more than rate and % of down payment. You're making one of, if not the, biggest financial decision of your life. Let a professional help.

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Another Post-Crisis Peak for Existing Home Sales

Another Post-Crisis Peak for Existing Home Sales | The American Dream | Scoop.it
While first-time buyers fell back, existing home sales scored their third consecutive monthly gain in July. The National Association of Realtors® (NAR) reports that completed sales of pre-owned single-family homes, townhomes, condominiums, and coops were...
Adam Black's insight:

More great news...

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The basics of Closing Cost and Prepaids | Adam Black Mortgage Specialist

The basics of Closing Cost and Prepaids | Adam Black Mortgage Specialist | The American Dream | Scoop.it
You've watched the budget, skipped vacation, and you finally have your down payment saved to buy your dream home. You've found the perfect place and while writing the offer your Realtor ask how you want to handle Closing Cost. You hear the screeching of wheels, confusion sits in, and your temp starts to rise. What are they, how much are they, who pays what?
Adam Black's insight:

Need information on Closing Cost? We have you covered...

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The Impact of Medical Debt on FICO Scores | Credit.com

The Impact of Medical Debt on FICO Scores | Credit.com | The American Dream | Scoop.it
Getting sick has led to millions of Americans paying more for loans – thanks to a medical debt domino effect on credit scores. But slowly, that's changing.
Adam Black's insight:

Ever wondered how much a medical debt impacts your credit scores?

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6 Questions Newlyweds Need to Ask to Make the Rent or Buy Decision

6 Questions Newlyweds Need to Ask to Make the Rent or Buy Decision | The American Dream | Scoop.it
6 Questions Newlyweds Need to Ask to Make the Rent or Buy Decision
Adam Black's insight:

You will probably never hear another Mortgage Professional say this but...Buying isn't for everyone. Learn more here.

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Will This be the Summer of Supersonic Sales?

Will This be the Summer of Supersonic Sales? | The American Dream | Scoop.it
Will this year be the one that takes the still-shaky housing market to the proverbial “bigger and better”? New data from Equifax and new analysis by a major housing economist is pointing in that direction.
Adam Black's insight:

More great news for our industry adn the economy as a whole.

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Is Getting A Mortgage Easier Than Consumers Think?

Is Getting A Mortgage Easier Than Consumers Think? | The American Dream | Scoop.it
Some lenders over the last couple years have eased requirements to get mortgages, but most Americans still think getting a loan is very difficult, according to a survey released Tuesday by Wells Fargo Home Mortgage and Ipsos Public Affairs.The survey, which had about 2,000 respondents, found that 72% think it's a good time to buy a home versus 68% in June 2014, the last time the survey was conducted. However, 57% thought it would be very difficult to get a loan, against 61% last June.Among those
Adam Black's insight:

Great article that shows the misconception of the public.

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Five Key Things To Know About The 2015 Spring Home Buying Season  

Five Key Things To Know About The 2015 Spring Home Buying Season    | The American Dream | Scoop.it
Spring is house-hunting season. The months of April, May, and June typically account for 40% of all home sales for the year, according to Freddie Mac. And this year, sellers have the advantage—in some parts of the country, by a lot. Home prices are going up. Wages aren’t keeping pace. And [...]
Adam Black's insight:

Even though we are on the other side of Spring these 5 things still ring true. No better time to buy than now!

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Why you shouldn't prepay your mortgage

Why you shouldn't prepay your mortgage | The American Dream | Scoop.it
Liz Weston: Even when you're not paying fat fees to a third party, making extra mortgage payments isn't always the best use of your money
Adam Black's insight:

Lot of buzz this week about third party companies scamming people on Bi-Monthly mortgage payments. You DON'T need a company to handle this for you! Most servicers will allow you to do it directly. It's a great way to cut several years off of your mortgage if you are taking care of the other fiscal things along the way. Read more here...

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Metropolitan Bank reported major gains for the first quarter of fiscal 2015. - Memphis Business Journal

Metropolitan Bank reported major gains for the first quarter of fiscal 2015. - Memphis Business Journal | The American Dream | Scoop.it
Metropolitan Bank reported major gains in first quarter 2015.
Adam Black's insight:

Huge milestone! Awesome to a small part of this success. Makes me wish I would have been here from the beginning.

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What the Consumers Don’t Know Will Hurt Them

What the Consumers Don’t Know Will Hurt Them | The American Dream | Scoop.it
Compared to a few years ago, the lending market is doing quite well. In...
Adam Black's insight:

Interesting insight...

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The Benefit of Thinking Bigger

The Benefit of Thinking Bigger | The American Dream | Scoop.it
The Benefit Of Thinking Bigger One day, a young inner-city boy went to his mom and pitched to her an idea: to start his very own t-shirt line. His
Adam Black's insight:

How "Big" is your  "Think"??

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Realtor survey: Millennials are no longer a renter generation

Realtor survey: Millennials are no longer a renter generation | The American Dream | Scoop.it
Homebuying trends in 2015 are undermining the image of the Millennials as a generation of renters. A survey of buying motives shows they're no different than the generations that came before them.
Adam Black's insight:

Seems as though Millenials are beginning to realize this is a great time to buy...

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John M. Holland's curator insight, October 1, 2015 9:11 AM

Homebuying trends in 2015 are undermining the image of the Millennials as a generation of renters. A survey of buying motives shows they're no different than the generations that came before them.

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Rent Vs. Mortgage: Which Of The Two Is Better??

Rent Vs. Mortgage: Which Of The Two Is Better?? | The American Dream | Scoop.it
Growing up, we all dream of the day when we can move out from our parents house. Main reason…so we don’t have to follow their rules anymore. But that defeats the purpose if you continue to rent. Why?
Adam Black's insight:

Want more information on Renting vs. Buying?

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Housing Starts Soar, Cash Sales Decline

Housing Starts Soar, Cash Sales Decline | The American Dream | Scoop.it
The mortgage market received a double shot of good news this morning, with a jolting spike in single-family housing starts and a continued decline in the level of cash sales for new residential properties.
Adam Black's insight:

Very similar to what we are seeing on a local level. One contributor to the down trend in cash buyers is the reduction of REO (Foreclosed) inventory as most investors buy with "cash" or at least from a Equity line of some sort not tied to a recordable mortgage. This is a good thing meaning foreclosures are slowing down and that inventory is not available.

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Pros and Cons of Buying a Foreclosed Home

Pros and Cons of Buying a Foreclosed Home | The American Dream | Scoop.it
Buyers in search of a bargain may be tempted by foreclosed home listings.
Adam Black's insight:

Thinking of buying a foreclosure? Here's some good info...

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Mississippi Named Best State for Getting a Mortgage

Mississippi Named Best State for Getting a Mortgage | The American Dream | Scoop.it
While the Mississippi housing market rarely gets spotlight treatment, it caught the eye of GOBankingRates, an online resource tracking interest rates on financial services products, which named the state as the best place to get a mortgage during the first quarter of this year.
Adam Black's insight:

Go Mississippi!

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Buy-or-Rent Analysis Shows Buying More Affordable Than Renting in 66 Percent of Markets

Buy-or-Rent Analysis Shows Buying More Affordable Than Renting in 66 Percent of Markets | The American Dream | Scoop.it
RealtyTrac has released a Buy-to-Rent analysis and a Buy-or-Rent analysis on three-bedroom residential properties in 285 counties nationwide. The Buy-to-Rent analysis found that potential returns from buy-to-rent purchases of three-bedroom residential properties in the first five months of 2015 de
Adam Black's insight:

More proof that there is more benefit to buy vs. rent.

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Opinion: Higher Mortgage Rates Won't Derail Housing

Opinion: Higher Mortgage Rates Won't Derail Housing | The American Dream | Scoop.it
Mortgage rates can't stay low forever but, when they rise, it won't be bad for housing. Home sales will likely rise. Read more and get today's live rates...
Adam Black's insight:

While rate is important it isn't the the deciding factor when it comes to the housing market.

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Average Home Down Payment in U.S. Dips to 3-Year Low

Average Home Down Payment in U.S. Dips to 3-Year Low | The American Dream | Scoop.it
The average down payment for single family homes, condos and townhomes purchased in the first quarter was 14.8 percent of the purchase price, down from 15.2 percent in the previous quarter.
Adam Black's insight:

As we continue to see homes increase in value we will continue to see this number shrink.

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Home as an Investment: The Role of Price Appreciation The Mettle Group :: #1 Physician Mortgage Lender The Mettle Group

Home as an Investment: The Role of Price Appreciation The Mettle Group :: #1 Physician Mortgage Lender The Mettle Group | The American Dream | Scoop.it
In our post "Does Homeownership and Real Estate Investing Make Sense Financially?" this week, we shared 5 data points, which we believe indica...
Adam Black's insight:

Here's some great info on how your home can impact your wealth building.

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Construction Numbers Highest Since 2007, Crushing Expectations

Construction Numbers Highest Since 2007, Crushing Expectations | The American Dream | Scoop.it
Residential construction numbers soared in April after a dismal March and both the number of residential permits issued and housing starts easily outpaced the expectations of analysts surveyed earlier by Reuters. The numbers were especially strong in the Northeast...
Adam Black's insight:

Crushed it!

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