Want to Invest in Delaware Real Estate, But Don’t Want to Be a Landlord?

John Thomas January 29, 2007 Tags: Delaware Property Management, Delaware Real Estate Investing

Delaware Real Estate Investing Without Being Landlord

If you want to get involved in investing in Real Estate in the Delaware Market, but don’t relish the idea of becoming a full time landlord then your next best option is to find a Delaware property management company. But what should you look for in a property management company? The biggest problem with being a landlord is finding good tenants and avoiding tenants that know how to work the system so that they don’t have to pay you and don’t have to move out either!!

Here is what a prospective property management company should do when looking for tenants for you;
LANDLORD REFERENCES – They should personally talk to past landlords and ask detailed, open ended questions about the applicant’s past performance.
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Using Your Home to Build Wealth

John Thomas January 28, 2007

Real Estate Investing – Using Your Home to Build Wealth

Ever thought of borrowing against the equity in your home to invest in the stock market? The NASD is waving it’s finger. In fact, it issued a warning to brokers this month saying it’s not appropriate for most investors.

But how about using funds from a loan or line of credit against the equity in your home to invest in real estate?
Home equity loans or lines of credit (HELOCs) are typically used to make home improvements or pay off debt. But they could make a lot of sense to boost your real estate portfolio, as Deborah Honeck found out after she left her job as a Silicon Valley executive to become a real estate investor. Keep Reading...

Delaware Mortgage Rates Kick Higher – January 20, 2007

John Thomas January 20, 2007 Tags: Delaware Home Loans, Delaware Mortgage Rates, mortgage loans

Delaware Mortgage Rates Kick Higher [January 20, 2007]

Delaware Mortgage Rates kicked higher to end the week, right along with the national rates. The average mortgage rate was up 0.07% (seven basis points) to end the week at 6.35%. If you have an Adjustable Rate Mortgage (ARM) that is going to be adjusting soon, refinance now to lock in a low rate. Feel free to contact me for a free loan analysis and quote on a lower Delaware Mortgage Rate.

I am a Certified Mortgage Planner so will look at your options for not only lowering your rate but helping you put together a long term plan to manage your mortgage to produce significant tax savings over time and to build wealth through equity management. Keep Reading...

Delaware Mortgage Rates Rise as the Stock Market Surges – January 2007

John Thomas January 12, 2007 Tags: Delaware Mortgage Rates

Delaware Mortgage Rates for January 2007

Delaware Mortgage Rates rose all week as lower oil prices and good economic news allowed the stock market to rally. The S&P hit an all time high. The outlook for the stock market going into next week is for a bullish run up. This means Mortgage Rates in Delaware and across the nation are likely to continue there upward movement.

Mortgage Rates typically move higher when the stock market rallies because this pulls money out of the bond market into the stock market forcing interest rates on the bonds to increase. Your mortgage is tied to a mortgage backed security which is bought and sold on the bond market. So if we have a continued rally next week in the stock market we will see even more money moving out of bonds forcing Delaware Mortgage Rates higher. Keep Reading...

Interest Only Home Loan – Is This Mortgage Right For You?

John Thomas January 11, 2007 Tags: Interest Only Loan

Interest Only Mortgage Loan

An Interest Only Mortgage Loan can be a viable option for buying a home in the Delaware Home Loan Market. The first step to deciding if this is the right loan product for your situation is to become educated on the Interest Only Loan.

The Interest Only Loan abbreviated (I/O) is a loan in which the minimum loan payment required by the lender is only the interest on the borrowed money. This leaves the original amount of borrowed money unchanged.

The advantage of the interest only mortgage is that it provides flexibility to the borrower in the early years of the loan. Borrowers can pay only interest, or can choose to repay some portion of the loan balance as they see fit. The typical interest only period is for either five or ten years. Keep Reading...

Can you get a home after bankruptcy in Delaware?

John Thomas January 9, 2007 Tags: Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

Can You Get a Home After Bankruptcy in Delaware?

Yes, you can get into a home again after a bankruptcy in Delaware and every other state, but be prepared for higher interest rates. A bankruptcy will stay on your credit report for seven to ten years, but it stops affecting your credit significantly after two years if you report has been updated correctly. If you want to apply for a mortgage loan after a bankruptcy filing call 302-703-0727 or APPLY ONLINE

Be sure to check your credit report annually, and make sure that all accounts that were part of your bankruptcy were discharged. Lawyers get paid to file the bankruptcy and have no interest in making sure that your credit report is accurate after the bankruptcy. Keep Reading...

Financial News – Week of January 8th

John Thomas January 8, 2007 Tags: mortgage rates

Financial News – Week of January 8, 2007

Employers boosted payrolls by a hefty 167,000 workers in December, 50,000 more jobs than analysts had forecast. With the hiring surge, the unemployment rate remained at a historically low 4.5%, the Labor Department said January 5, 2007.

The U.S. manufacturing sector rebounded in December, according to the Institute for Supply Management (ISM) index, which rose from 49.5 in November to 51.4 in December. An ISM reading below 50 indicates contraction, while above 50 signals expansion.

Orders to U.S. factories for manufactured goods edged up 0.9% in November, less than the 1.4% analysts had expected, the Commerce Department reported January 4. Declining demand for autos, machinery and steel was blamed for the tepid performance. Keep Reading...

Interest Rate vs APR

John Thomas January 7, 2007 Tags: Annual Percentage Rate, APR, Mortgage Interest Rate

Interest Rate vs APR

You are most likely to encounter low mortgage interest rates and low annual percentage rates (A.P.R.) on television commercials or newspaper ads as lenders vie for the attention of potential borrowers looking for the lowest mortgage rates. This is just a tactic for them to get you to call so they can explain why you don’t qualify for the advertised mortgage interest rate and proceed to sell you on a higher interest rate with higher fees. So remember the old adage “Buyer Beware”.

A.P.R. was created to provide a way for borrowers to account for costs associated with the mortgage loan. This sounds good because it may not be very easy to choose between a mortgage loan with a lower mortgage interest rate and higher fees or a mortgage loan at a higher mortgage interest rate with low fees. Although APR is supposed to be a shopping tool, its an inaccurate tool at best. While it’s designed to make it easier to compare mortgage loans, it’s sometimes confusing because the A.P.R. includes some, but not all, of the various fees and mortgage insurance premiums that accompany a mortgage loan. And since the federal law that requires mortgage lenders to disclose the A.P.R. does not clearly define what goes into the calculation at the time of this article, A.P.R.s can vary from mortgage lender to mortgage lender and from mortgage loan to mortgage loan. Keep Reading...