Welcome to my Mortgage, Credit, and Real Estate Blog
Hello, my name is Greg Phillips and I have been closing mortgages since 1999. I write articles about these industries to educate readers. My goal is to keep the articles simple and as uncomplicated as possible. Please visit my website for additional information about my mortgage services.
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PMI companies dump Investor Loans
Posted on October 16th, 2008 No commentsThe last remaining PMI company providing insurance up to 90% for investors has cancelled the program. There are no insurance companies providing PMI over 80% on Investment loans. If you are a Real Estate Investor you now need a 20% down payment.
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Mortgage Lending Update
Posted on October 6th, 2008 No commentsAs many of you heard the financial sector is struggling to continue to lend money. I would like to clear up what effect I have seen in my mortgage operations. At this time I have not seen anything change. Everything has been business as usual. We are still doing mortgages and I wanted to clarify that. However, this situation does have an effect on several lending institutions. Going forward you may see some close their doors on doing mortgages. But, as of right now I have seen limited effects. We are seeing the interest rates go down though. Take advantage!