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Private Mortgage Insurance helps lead the way in the Housing Recovery

Private Mortgage Insurers leading the way in housing recovery

Here's a link to Ricardo Cobos's mobile tool kit for mortgages:
Example of how PMI stretches your home-buying dollar.


One of the earliest indicators of the housing meltdown which began in 2007 was that issuers of Private Mortgage Insurance (PMI) began to contract their underwriting guidelines for issuing PMI policies.  In fact, so bad was the meltdown that many PMI companies either stopped issuing policies altogether while some were even forced file for bankruptcy protection. Continue reading Private Mortgage Insurance helps lead the way in the Housing Recovery

Market Update – Monday February 27, 2012

Market Commentary – Mon, Feb 27 – 11:10 AM ET

Logo of the National Association of Realtors.

           The National Association for Business Economics (NABE) reported on Monday that its economists have forecasted that the unemployment rate for 2012 should be around 8.3% down from 8.9% that was reported in November. Within the report it was revealed that builders should break ground on 700,000 new homes this year, up 15% from 2011 and predict 850,000 in 2013. Continue reading Market Update – Monday February 27, 2012

Cary neighborhood opposes potential immigration office

Seal of the United States Department of Homela...
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“The federal government is considering moving its local Immigration and Customs Enforcement office from a Cary office park to a former Kroger supermarket on N.C. Highway 55 and High House Road.” reported Sloane Heffernan from WRAL News.

Read the story here.

The debate rages onward.  If you read the local online forums, neighbors and Cary residents are upset that a detention center is coming to their backyard – in a residential community. Continue reading Cary neighborhood opposes potential immigration office

Mortgage Rates Little Changed

Mortgage Rates Little Changed Weaker than expected economic data helped mortgage rates decline to the lowest levels of … More Mortgage Rates Little Changed

My Bank Failed; should I pay my mortgage?

The terms of your loan will not change, because they are contractually agreed to in your promissory note. Checks should be made payable as usual and sent to the same address until further notice. If you have further questions regarding an existing loan you shuold contact your loan officer. Ricardo Cobos is a mortgage loan officer in Raleigh North Carolina specializing in low down payment and low interest mortgage loans. (919) 559-3384

Lower Payment vs. Lower Rate of Interest

Therefore, many people may be better served by having a smaller mortgage payment under a 30-year fixed – and then saving or investing the extra money. Note, saving and investing rather than spending the extra money is the key point here.