Mortgage Loans

Mortgage Loans

Free Budgeting Seminar – February 6th at 6:30 PM

John Thomas January 20, 2008

There will be a Free Budgeting Seminar on February 6, 2008, from 6:30 PM till 8:00 PM at the Citizens Lending Group’s Office in Newark, Delaware.  The seminar will cover the basics of making a household budget, how to track daily, weekly, and yearly expenses, and how to use your budget as part of an overall financial plan. Each participant will receive a free Excel Budget Calculator.

To register for the Seminar, please call 302-368-7132 Ext. 12 and ask for John Thomas.

If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727. Keep Reading...

Delaware Mortgage Loans – Market Update – January 16, 2008

John Thomas January 16, 2008

Delaware Mortgage Rate Update – January 16, 2008

Bonds are trading worse today as traders take a profit. The reading on inflation was not good, so this gives the Feds a reason to only drop the Fed Funds rate 0.25% instead of the anticipated 0.50%. A cut of 0.5% is already priced into the mortgage market so if it is cut only 0.25% then the rates will get worse.

The Consumer Price Index which is a very good measure of inflation has been trending higher for the last 3 months and came in higher today.  The Feds have another report coming out at 2:00 PM today which is a read on the current economic conditions in the market place. Keep Reading...

How to Disaster Proof Your Finances

John Thomas January 16, 2008

You can’t always avoid natural disasters like earthquakes, floods, or hurricanes, but you can minimize their impact on your finances. Do you have a plan for how you would cope if a hurricane like Katrina or Floyd or some other potentially devastating event even the loss of a job hit you?

Have a Plan

Think about. What are the disasters that could most likely affect you and your finances?  Now, imagine that a disaster did happen.  What would you want to have taken care of ahead of time? Begin to do those things. Take care of yourself, your loved ones, and your property first; prepare a survival plan; maybe stock up on clean water, flashlights, batteries, an emergency kit, and canned goods.  But beyond these steps, it also critically important to set up a good practical financial plan. Keep Reading...

Delaware Mortgage Loans – Weekly Mortgage Market Update – January 14, 2008

John Thomas January 14, 2008

“If you don’t like the weather, wait a minute”…That’s a saying heard often in places where the weather can turn on a dime, making it very difficult to forecast. And while the weather patterns can change direction quickly, the recent movement of stocks and bonds rivals the rides at an amusement park.


“Turbulent” and “volatile” best describe the action in the markets. Stocks and bonds have had wild swings of late as the possibility of a recession loom. The Federal Reserve is concerned about a recession but doesn’t want to cut rates too deeply because it may stoke the flames of inflation. Keep Reading...

Doug MacGray’s Weekly Financial Update – Week of January 14, 2008

John Thomas January 14, 2008

SLOPPY FOURTH QUARTER;  According to Morningstar,  the average returns by mutual fund category for the fourth quarter of 2007 were:

  1. taxable bonds:  +1.3%
  2. municipal bonds:  +0.5%
  3. international stocks: -0.8%
  4. U. S. stocks:  -2.8%
SLOPPY WEEK:  For the week, the Dow declined -1.5%, the S&P 500 -0.75%, Nasdaq -2.6%, and the Russell 2000 -2.4%. Year-to-date, the Dow is now down -4.9%, the S&P 500 -4.6%, Nasdaq -8.0%, and the Russell 2000 -8.0%. GROWING RETIREMENT ASSETS: According to a recent study by the Investment Company Institute, total U.S. retirement assets climbed to $17.4 trillion at the end of the second quarter of 2007, up from $16.7 trillion at the end of the first quarter of 2007. Retirement savings account for almost 40 percent of all household financial assets in the U.S. IRAs held $4.6 trillion at the end of the second quarter of this year, up from $4.4 trillion at the end of the first quarter. Mutual funds manage 47 percent of IRA assets. Americans held $4.4 trillion in all employer-based defined contribution retirement plans, of which $3.0 trillion was held in 401(k) plans. Those figures are up from $4.2 trillion and $2.8 trillion, respectively. LONG TERM CARE COSTS:  If you wonder what the costs of long term care are in your area (they vary wildly), check this website:  

https://www.ltcfeds.com/ltcWeb/do/assessing_your_needs/costofcare?action=costofcare Keep Reading...

Bank of America to Buy Countrywide Home Loans

John Thomas January 12, 2008

Countrywide Financial (NYSE: CFC, $6.50) is being acquired by Bank of America (NYSE: BAC, $38.42). The deal is a stock swap. Shareholders of Countrywide will receive 0.1822 shares of Bank of America for every Countrywide share, the equivalent of about $7 per share of CFC.

Bank of America is getting a very good deal. Goldman Sachs has a 2008 earnings estimate of $1.50 a share for Countrywide. Argus says Countrywide will earn $1.40 in 2008. With Bank of America now involved, those earnings estimates look a whole lot more realistic. Bank of America is paying just five times these 2008 earnings estimates. Even if the estimates turn out to be too high or at least premature, Bank of America will be looking good in a short while. I won’t be surprised if the deal is accretive for Bank of America’s earnings in the first year after the deal closes. Keep Reading...

Delaware Mortgage Loans – Market Update – January 10, 2008

John Thomas January 11, 2008

In his first speech on the economy since the December 11th Open Market Committee meeting Fed Chairman Bernanke said today, in light of recent changes in the outlook for risk and growth, additional policy easing may be necessary. He went on to say, Based on that evaluation, and consistent without a dual mandate (control inflation and promote economic growth), we stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks.


Mr. Bernanke made a point of reminding his audience that, financial and economic conditions can change quickly. Consequently, the Committee must remain exceptionally alert and flexible, prepared to act in a decisive and timely manner and, in particular, to counter any adverse dynamics that might threaten economic or financial stability. Keep Reading...

The Role of a Delaware Real Estate Agent

John Thomas January 11, 2008

Frequently, the first person you consult about buying a home in Delaware is a real estate agent or broker that is licensed in Delaware. Although real estate brokers provide helpful advice on many aspects of home buying, they may serve the interests of the seller and not your interests as the buyer.

You need to know if the agent you are speaking with about a property is a seller (Listing) agent or a buyer’s agent. The buyer’s agent works for you and has your interest at heart. The seller agent is hired by the seller to list their house for sale. The selling agent’s job is to find someone who will be willing to buy the home on terms and conditions that are acceptable to the seller. In Delaware an agent is allowed to both represent the seller and the buyer, this is called dual agency. Keep Reading...