|
Couldn't tune in and hear the show this week? No problem! Below you will find various shows from the last few weeks that you can listen to at your leisure! Listen anytime that works for you! 06/10/09 Ask-the-Expert: Listen below to hear how she responds! 06/03/09 Ask-the-Expert: Listen below to hear how she responds! 05/27/09 Ask-the-Expert: Listen below to hear how she responds! 05/20/09 Ask-the-Expert: While a foreclosure may look like a good deal at first, Sherry warns that getting financing for these properties can be tricky. Sherry explores the possible pitfalls of foreclosures, and whether or not financing for an auction sale is even possible. During the second part of the segment, she addresses the rumour that the $8000.00 first time homebuying credit will soon be available to use as cash to close. Listen below! 05/13/09 Ask-the-Expert: The recent Government Loan Modification Program is the topic of this weeks show. Sherry discusses how borrowers get into overwhelming situations and what "upside-down" means in terms of mortgages. When will lenders consider loan modification as opposed to foreclosure? What is Refi-Plus and how do you know if you qualify? If you'd like to know the answers to these questions and more, listen below! 04/29/09 Ask-the-Expert: This week Sherry discusses her recent move from Mortgage Atlantic, Inc to Summit Home Mortgage, Inc. She explains to listeners the reasons behind her move and the much broader range of products she can now offer to her clients. During the second segment, Sherry jumps into the new appraisal requirements coming into effect on 5/1/2009. Appraisals will now need to be ordered by using a third party system. Sherry explains the reasons behind and ramifications of this new requirement. Listen below to hear the discussion! 04/15/09 Ask-the-Expert: Big news for listeners! Sherry announces today that she has moved from Mortgage Atlantic, Inc. to Summit Home Mortgage, Inc. She explains that she now has access to many more lending products and goes over some of these products in detail. With Summit, she can now offer Jumbo loans, Second Mortgages, VA 100% Cash-Out Refinances, Reverse Mortgages and more! Sherry also briefly touches on how the yield affects current interest rates and her techniques for trying to determine whether interest rates will be going up or down. Listen below for further information!
04/08/09 Ask-the-Expert: Sherry discusses a number of topics on this week's show. She begins by going over the guidelines of the recent bailout and that credit companies are responding by lowering their limits and increasing their rates. She goes over why she considers FHA to be her loan of choice in most cases and why it's so important to have a good credit score. She then delves into tax returns - the importance of filing your tax returns prior to applying for a loan as most lenders now verify all tax returns automatically. She explains how tax returns come into pay with self employed borrowers, what unreimbursed expenses are and how they affect your bottom line. Listen below to hear more! 03/25/09 Ask-the-Expert: Rates, rates rates! This week's show is all about current home mortgage rates available and how certain advertised rates compare to what can actually be offered today. Sherry talks about what factors go into deciding whether or not to refinance your home. Low rates don't necessarily mean it's a good move. During the last part of the show, Sherry speaks out on certain predictions that have arisen claiming rates will be as low as 3% in the near future. Listen below to hear how she responds! 03/18/09 Ask-the-Expert: With Obama's stimulas plan big in the news, it's not surprising that "scams" have resulted in certain entities taking advantage of those looking for some assistance. Sherry gives listeners bonafide sources to turn to for help with foreclosures and other homeownership difficulties. She delves into the ever increasing problem of renters who have suddenly found themselves renting a home that is being foreclosed on and explains that there are ways to work around these problems. If you are interested in buying a foreclosed property, Sherry explains the potential dangers and benefits of such an endeavor. If you aren't careful, what seems like a great bargain could end up costing you a lot of money. Listen below! 03/11/09 Ask-the-Expert: Listen below!
03/05/09 Ask-the-Expert: Listen below! 02/25/09 Ask-the-Expert: Listen below! 02/18/09 Ask-the-Expert: Listen below! 02/11/09 Ask-the-Expert: Listen below! 02/04/09 Ask-the-Expert: Listen below! 01/28/09 Ask-the-Expert: Listen below! 01/21/09 Ask-the-Expert: Listen below! 01/07/09 Ask-the-Expert: Listen below! 12/24/08 Ask-the-Expert: Listen below! 12/17/08 Ask-the-Expert: Listen below! 12/03/08 Ask-the-Expert: Listen below! 11/26/08 Ask-the-Expert: Listen below! 11/12/08 Ask-the-Expert: This show begins with Sherry discussing bi-weekly payment plans on your mortgage and how they can potentially save you thousands of dollars by the end of your loan. There are some drawbacks though, in the form of start up fees and transactions fees. Sherry explains how a borrower can get the same results by themselves. Sherry then delves into the world of Bankruptcy. She defines the different types of bankrupcy, how lenders respond to each type, and how long it takes to obtain credit afterwards. During the last part of the segment Sherry talks about the proposed "Tweaking" of the $7500 tax credit to make it even more attractive to consumers. Listen below! 11/05/08 Ask-the-Expert: This week Sherry talks about how the mortgage crisis and bailout affected this year's election. She goes on to discuss the new restructuring of USDA's income limits that will be active as of January of 2009. Hopefully, the new structuring will offer simplification and allow more borrower's access to USDA's programs. Sherry explains the different USDA and similar products currently available. She then completes the show by offering a loan comparision that details the differences found between USDA, Conv, FHA, and High Vs Low Credit Scores. Listen below! 10/29/08 Ask-the-Expert: There will be another rate cut in the Federal Funding rate later on today. Sherry discusses how the rate will now be 1% and that this is a historic half century low. She talks about how funding rate cut will affect mortgage interest rates and whether or not the rates will continue fluctuating as they have been. Sherry then addresses a rumour concerning FHA's cash out refinance program. They may be decreasing the maximum loan to value amount on cash out refinances from 95% to 85%. Sherry explains who will most affected if this decrease happens and how/when they should proceed with refinancing. Listen below! 10/22/08 Ask-the-Expert: In this show, Sherry takes a call from a listener and discusses Subprime loans and prepayment penalties. She goes over trends in interest rates over the last several years and gives examples of of the fluctuations. During the second part of the segment, Sherry talks about an incorrect statement given on the Glen Beck show. During the show, some misinformation was released about a bill that includes a $420 fee for every $100K of a loan which supposedly shows up in a borrower's closing costs. She defines what the bill actually states, the correct amount and what it is for. She then discusses the negative reactions from borrowers about this bill and whether the amount is actually taken out of a loan's closing costs. 10/15/08 Ask-the-Expert: This week Sherry addresses the seemingly widespready illusion that mortgages are no longer available. She explains that there are still loans to be had and gives examples of what is out there and the current rates. She describes how there have been wild fluctuations in the rate in the last 40 years - from 3.5% to 15-18% in the eighties to 6.5-7.0% today. Historically, the rates are still good. During the latter part of the hour, Sherry again discusses the $7500 fully refundable (fully repayable) tax credit offered to first time homebuyers. She also details doublewide purchases & refinances, and the additional requirements required. 10/08/08 Ask-the-Expert: Several topics are discussed on this week's segment. Sherry starts the show by talking about the recent 1/2 point rate cut, the difference between the Federal funds rate and the discount rate, and the hopeful goal of the cut to unfreeze lending to make obtaining mortgage loans easier. She speculates on whether rates for mortgages will actually drop or increase because of this action. Sherry then announces that many lenders are doing away with stated income loans. These loans were an important option for self employed borrowers and Sherry explains other potential options. During the latter part of the hour, Sherry touches on the Community Reinvestment Act / Hope for Homeowners Act. The Hope for Homeowners Act which allows FHA to insure a home for 90% LTV and the lender voluntarily forgives the rest. The borrower will then share the equity in the home with HUD, no higher than a 50/50 split after five years. 10/01/08 Ask-the-Expert: With the fall out from the mortgage crisis on everyone's mind, Sherry spends the entire show discussing the bailout and possible effects of passing or not passing it. She remarks on the different financial issues that may be resulting, such as credit limit reductions and hardships for various companies. She explains how this could result in a snowball effect that will cause a loss in available employment. Once again she stresses that the public may not be completely aware of the ramifications of not passing the bailout. Listen below. 09/24/08 Ask-the-Expert: This week Sherry speaks again on the sense of urgency that comes with the upcoming bailout. She speculates that perhaps the public doesn't know the full reasons behind the need for a bailout, which is one of the reasons so many people are balking at it. She then briefly discusses locks, how to know when to lock into your rate, and how she handles her rate quotes. During the second part of the show, Sherry delves into Mortgage Insurance. She talks about how until recently mortgage insurance wasn't tax refundable, and how that lead to people with good credit getting into sub-prime & combo loans. She also warns borrowers that even though it is possible to get an approval from a lender when you have a low credit score, you still may not be able to get a mortgage insurance policy. 09/17/08 Ask-the-Expert: The expected Federal rate cut has been denied, and Sherry talks about the potential impact of this on Mortgage interest rates. She then goes on to explain credit freezes. She gives examples of reasons for freezing your credit and defines who will still have access once it is frozen. She also gives instructions on how to unfreeze your credit, whether it is permanently, through a specific date range or even for a certain provider. 09/10/08 Ask-the-Expert: This week's news is all about the Fannie Mae, Freddie Mac Government Bail-Out, which could cost up to $200 billion. Sherry speculates on comments that the bail-out will partially pay for itself, and the possible effects on the mortgage industry if the bail out didn't happen. She briefly talks about current Bail & Buy mortgage scams, and once again details the fully refundable, fully repayable $7500 tax credit for first time homebuyers. During the second part of the segment, Sherry discusses what items and actions most impact your credit score and how to improve on it. 09/03/08 Ask-the-Expert: Sherry agains talks about the $7500 rebate from the Government for 1st time homebuyers. She explains that the rebate is not a grant, but instead an interest free loan that is to be paid back in increments through the borrower's tax return beginning the second year after purchase. Sherry then discusses the End of the FHA Buyer Assistance Programs, what that will entail and what similar programs (USDA) are still available. Lastly, she speaks on the FHA loan limit decrease and possible increase again at the start of 2010. Listen below! 08/27/08 Ask-the-Expert: First time homebuyers now have the option of receiving a $7500 rebate when they purchase thier first home. Sherry explains what qualifies a person to receive this rebate and any payback terms that may apply. She also talks about life after foreclosure and bankruptcy. She goes over the details of bankruptcies and foreclosures, the negative impact they have on your credit and how to clean up your credit afterwards. 08/20/08 Ask-the-Expert: Sherry discusses VA loans this week. VA loans are loans offered to members of the military including their spouses and veterans. You have to meet certain criteria to qualify and Sherry explains what that entails. Term of service, type of discharge, credit rating, and other factors all apply. 07/30/08 Ask-the-Expert: Mortgage schemes and undisclosed fees are the topics on this week's Ask the Expert segment. Sherry defines some prevalent mortgage scams to watch out for. She explains how identity theft can come into play. She also discusses the different items that should always be included in your good faith estimate. Your escrows - Home owner's insurance and real estate taxes are all too often left out leading to falsely low monthly payment amounts. 07/23/08 Ask-the-Expert: This week Sherry talks about allowable income. She explains that some income such as overtime pay and bonuses can only be counted there is an established history. During the second half of the segment Sherry discusses interest rate buydown options. Basically, the seller can temporarily buy down the interest rate of a loan to give potential buyers a break when purchasing the property. 07/16/08 Ask-the-Expert: Qualify Vs Afford. That is the topic of discussion on this week's Ask the Expert Segment. This is something that anyone interested in buying a home should understand. Sherry explains that due to varying lifestyles and circumstances, just because you qualify for a certain loan amount, that doesn't necessarily mean you can afford it. She also goes over techniques to help listeners prequalify themselves. Listen below. 07/09/08 Ask-the-Expert: This week Sherry talks about allowable income when you are looking for a home. Overtime & bonuses can only be counted as income if it meets certain criteria. She explains that changing your job before or during the loan process can sometimes hinder your closing. She also introduces the listeners to Interest Rate Buy Downs. A Seller can pay a certain amount towards the loan to allow the buyer a temporary lower rate. She details how this option can be more productive than just reducing the selling price of a home. 07/02/08 Ask-the-Expert: Sherry talks about the latest developments with HSBC, Washington Mutual, and Wachovia reducing the availablity of or in some cases putting a freeze on their Option ARMs and Home Equity Line of Credit Loans. She also discusses what you should and shouldn't do when preparing to qualify for a loan. It all comes down to three things: Income, Assets, and Credit. 06/25/08 Ask-the-Expert: Quite a few topics are covered on this show: A bill just recently passed detailing FHA's backing of 300 billion dollars worth of cheaper home loans for those who would not normally be eligible. The bill also included an eight thousand dollar tax credit for those first time homebuyers purchasing already existing homes. We also discuss the new stringent guidelines for Stated Income loans. These changes include a 730 or higher credit score, no more than 70% loan to value loan, and the option of a cash out refinance is no longer available. Sherry also glosses over an infuriating & misleading commercial which advertises rates from three years ago! Hear all this and more by clicking on the link below! 06/04/08 Ask-the-Expert: This week's segment is all about Jumbo Loans! Sherry defines what a jumbo loan is (loans for above $417,000.00) and explains the prerequisites for obtaining a jumbo loan (credit score, documentation, etc..) She also announces a new service she will be offering local Realtors. She will make sample financing flyers for interested realtors to give out at their open houses. The flyers will be detailed towards the individual properties. 05/28/08 Ask-the-Expert: This week Sherry talks about a controversial new bill sent to Congress that has had a last minute ammendment tacked on. This ammendment will require all Mortgage Brokers to have their personal information on public display. It would include having access to background information, fingerprints, any criminal or even civil suits, employment history, and various other information. Sherry discusses with callers the potential impact of this bill and speculates on the affect this will have on everyone. You can also hear towards the end of the segment a call in from another satisfied client. 05/21/08 Ask-the-Expert: Questions about Sub-Prime (Alt A) loans? This week Sherry delves into the Sub-Prime world. Ever wonder what exactly they entail? How can you avoid them? Sherry answers these questions and more.. She explains the penalties that can ensue, and why not every mortgage broker that offers Sub-Prime options is a predatory lender. 05/14/08 Ask-the-Expert: Now that underwriting turn times have returned to normal, (1 to 2 days as opposed to 2 weeks!) Sherry gives examples of different loans scenarios that are available right now. USDA (income limits are now higher), FHA (Loan limits are higher), VHDA, and Conventional loans are all topics of discussion this week. Listen below! 05/7/08 Ask-the-Expert: This week Sherry discusses how to clean up your credit in preparation for a home loan. She explains how to tackle inaccuracies in your credit report. Sherry believes that it is a good idea to meet with a mortgage broker before even looking at a house so you will know what you qualify for. She also talks about the lack of regulations for mortgage lenders and lists some classes a lender can voluntarily take to increase their knowledge. Listen below! 04/30/08 Ask-the-Expert: The latest rate cut, the ins and outs of appraisals, and how to repair your credit for buying a new home! All of these are topics on this week's Ask-the-Expert segment with Sherry Brady. Listen below! 04/23/08 Ask-the-Expert: This week Sherry discussed the rate trends from the last year and explained that the rates are actually decent compared to last summer. In the second half of the segment, she touched base on credit issues and the details of appraisals. She will talk about appraisals in more depth during next week's show! Listen below to hear the discussion! 04/16/08 Ask-the-Expert: This week Sherry talks about the different Conventional loans currently available, and the ever tightening regulations on credit scores. She explains that a credit score of less than 700 can cause a higher rate. She also gives advice on credit and credit score issues. Click on the link below to listen in! 04/09/08 Ask-the-Expert: Sherry discusses the positive and negative aspects of getting a consolidation loan on the equity in your home. She helps you consider whether it's beneficial to refinance your loan to pay down bills or to avoid taking on extra debt. 04/02/08 Ask-the-Expert: Sherry explains the type of money that you can bring to closing. She gives the definition of a gift fund and the necessary documentation needed. She also briefly discusses renovation loans and automated underwriting systems. 03/19/08 Ask-the-Expert: This week's show begins with interest rates. Sherry speaks about the recent cuts in the discount rate and the federal funds rate. She explains that this is not the same as a 30 year mortgage rate but does affect it. She talks about Home Equity Loans and Lines of Credit. She also goes over the negative aspects of bi-weekly mortgage payments and the fees that may apply! 03/12/08 Ask-the-Expert: The Fed has entered 200 billion dollars worth of low cost loans into the system using Mortgage Backed Securities causing the stock market to soar. Sherry discusses this and also speculates on the effects of the upcoming rate cuts. Listen below to hear the discussion! 03/05/08 Ask-the-Expert: Sherry talks about the new FHA Secure plan that is offered to those with Non-FHA Adjustable Rate mortgages that have reset. She talks briefly about Ben Bernanke's new speech and during the second half of the segment discusses rate trends, the economic stimulus package and what that will do to loan limits. Listen below! 02/27/08 Ask-the-Expert: Tim Caine announces a new plan to bale out people stuck in Adjustable Rate Mortgages. This involves credit counseling among other things. We talk about Credit Scores. If you call to inquire on a loan, your information is sold by the credit agency to "vulture" lenders looking for people meeting certain criteria. Sherry explains how to put an end to this. During the second half of the segment Sherry talks about how charging up a credit card affects your score and gives listeners an example of how that happened to one of her clients recently. 02/06/08 Ask-the-Expert: This week is all about Refinancing. Sherry gives advice on how to determine if now is the right time for you refinance. There are a lot of factors to consider. Would it benefit you at all financially to refinance. Should you pay your closing costs or should you obtain a higher rate loan and have no closing costs. Sherry offers different scenerios to help listeners define if and when refinancing is a good step to take. Listen below to hear the discussion! 01/31/08 Ask-the-Expert: This week's news is regarding the upcoming Fed meeting to drop the prime rate by half a point. Sherry discusses how this will affect your loan rate and what the rebound effects of the last rate decrease created. She lets listeners know what time frame is available to get a lower rate once the prime rate drop is announced. During the second half of the segment Sherry delves into the dangers of high loan to value second mortgages. Listen below! 01/24/08 Ask-the-Expert: The Federal Funds Rate & Discount Rate have dropped by 3/4 of a point and the Prime rate will follow. Sherry discusses how this and other events will affect today's economy. During the second half of the segment she helps listeners to determine the best time to refinance. Listen below to hear the discussion! 01/16/08 Ask-the-Expert: Sherry discusses quite a few topics on this week's show. She begins the show with speculation on the upcoming interest rate cut. She explains how this and other events (the tightening of credit guidelines) will affect potential borrowers. She also details the usual costs of going through a refinance. Afterwards, Sherry delves into the current events including Bank of America's recent buy out of Countrywide. She ends the segment discussing how to get preapproved for a loan and the benefits of letters of explaination. Listen below to hear the all this and more! 01/02/08 Ask-the-Expert: listen below to hear the discussion! 12/12/07 Ask-the-Expert: listen below to hear the discussion! 12/05/07 Ask-the-Expert: listen below to hear the discussion! 11/28/07 Ask-the-Expert: listen below to hear the discussion! 11/21/07 Ask-the-Expert: Sherry talks about the negative affects of Sub-prime mortgages. Short term fixes as opposed to life long loans. She explains how sub-prime loans often lead to foreclosures, and foreclosures reduce the value of other homes in thier neighborhood. She also discusses the pros and cons of reverse mortgages. Listen below! 10/31/07 Ask-the-Expert: Happy Halloween! This week's segment deals with the speculation on whether or not Ben Bernanke will cut the Federal Fund Rate. We touch on the FHA Secure Initiative which is geared toward adjustable rate mortgages. You can also hear from a satisfied customer who called in towards the end of the hour! Click below to hear the discussion! 10/17/07 Ask-the-Expert: Click below to hear the discussion! 10/3/07 Ask-the-Expert: Click below to hear the discussion! 9/17/07 Ask-the-Expert: Click below to hear the discussion! 8/29/07 Ask-the-Expert: listen below to hear a discussion about a very unfortunate loan process that left the borrower not understanding what had happened to him, and paying nearly $500 per month in Mortgage Insurance, that he didnt find out about until just a day or so before closing! What happened, and steps you can take to prevent it from happening to you! *We recommend saving to your computer first before opening the show from 8/29/07.*  Summit Home Mortgage, Inc. - Office Phone: (434) 946-7770 Fax: (434) 946-7775 Cell Phone: (434) 238-8984 Toll Free Phone: 1-866-946-7770 Summit Home Mortgage, Inc. Licensed by the Virginia State Corporation Commission: License MC-2396 
© 2010 Myers Internet All Rights Reserved Powered by: Myers Internet | Admin Login |
