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As you may or may not know I have been a resident of Fort Lauderdale for 7 plus years. In that time, I have noticed that many people and families come here from other parts of the country. For the people that like the weather, like the lifestyle and the fast pace they typically stay here. And for the rest of the people typically stay in South Florida temporarily.

Just yesterday I spoke to an old colleague that left Fort Lauderdale to go to Detroit Michigan. Thats right I said it DETROIT!! When I spoke to her she said that she found the man of her dreams and was going to marry him. Thats great for her buty she still traded Fort Lauderdale, FL for Detroit, MI.

I figured I could help everyone out that lives here. Your friends and family may need to move. Here is a new tool that I found that will help you find property in other states.

Just click on this link.To find Florida MLS Listings use eLookyLoo.com to search for your next home.

Good Luck and have a good weekend.

Hi guys,

First I want to wish you a happy and safe memorial day. Take a look around you guys. If you did not know what time of year it is, I am going to tell you. It is spring time and the best time to look at Fort Lauderdale Homes for Sale.  If you are entertaining the thought of moving, relocating or trying to get into a better school district (like me), then now is the time.

In Fort Lauderdale, homes are at the best prices in 15 years. Quick story. My mom bought a town house in Miami in1990 for $53,000. During the peak of the real estate market it was worth $220,000. She chose not to sell it. I thought she was crazy. Today that property is worth 135,000.  My mom could care less about the price of the home because the house is a keeper. Why? You asked. She is in a tripple A school district so the home remains in high demand. It remains rented year after year because of the school district. She can sell when ever she wants no matter what the market is doing. Whoever says mom knows best was right. At least in this case.

Although I typically focus on the financial aspects of home buying because it is my expertise. You must still remember the basics of real estate. No matter what the price or location of you next Fort Lauderdale Home for Sale, a huge selling point of any home is the school district when you are thinking about your next home keep this in mind. If you  plan on having a family in the future, it should be a concern. 

So remember, when you are out there in the market looking for your next Fort Lauderdale home for sale or South Florida home for sale, feel free to take my moms advice or contact us for help buying that next home.

Hi guys and happy Friday,

Just wanted to touch base with everyone and remind them that cheaters never prosper. Especially with Ft. Lauderdale mortgages, they are being more scrutinized. You can not be getting away with the stuff that use to fly. You can not buy a house with out showing income or try and passoff a investment property as a primary residence.

I am going to give you a quick example. First a borrower from out of state who is a very affluent fellow decides now is the time to gobble up houses. So he decides to finance some and pay cash for some. He accidentally forgets to put on his loan application that he has already bought some houses. He thinks that it is not a big deal to omit it the properties he has just bought in the last two months. Besides they wont show up on his credit because he paid cash for them. Regardless he can afford to carry the properties because he makes great money.

Here is the problem. All Ft. Lauderdale Mortgages are being registered by lenders and banks in a database and so are the ones that do not get mortgages. Why are they doing this?  To prevent fraud. People are claiming investment homes as primary residences so that they can get an FHA insured mortgage. Or they are claiming investment properties as second homes. In the case of this borrower, he had bought a house in the same city as a second home already and was trying to buy another in the same fashion.

His brazen attempt to beat the system has landed him on the banned list in Ft. Lauderdale Mortgage circles. He is done. Bottom line dont lie on your application. You are trying to buy or refinance during the Great Recession.

Thats all folks. I will be giving you market conditions on my twitter. So you can follow me there at http://twitter.com/LoanFha or you can just follow me on this site. Have a great weekend and keep the questions coming.

Good Day all,

I wanted to take the time today to mention how important it is for someone to take care of their credit.  Do you know how credit can affect you getting a Ft. Lauderdale Mortgage? The fact the the FHA program is not a credit score driven program, doesn’t mean you should not care about your credit before you apply.

If you dont then you end up buying this :

Bad Credit = Ugly Home

Now if you dont want to end up buying this house or living in a neighborhood where this house exists, then you have to do something about your credit before you apply for a Ft. Lauderdale Mortgage. That Simple. Now I did not say it was easy. The difference in what you can purchase, what your monthly payment will be, what your interest rate will be and the points and fees on your mortgage is huge.

For example you have a 540 credit score (BAD CREDIT) and you want to buy a home. Your interest rate would be anywhere between 2.25% to 2.75% higher than the market rate.

Lets say you have a 680 credit score(average credit score) your Ft. Lauderdale mortgage interest rate is only .25% to .375% higher than the market. You can get a house that looks like this

You can get a house like this with good credit

This is just for explanation purposes and I might have exagerated just a little. Here is the truth of the matter. You could have a 540 credit score pay alot more in origination fees, broker points and loan discount fees or you could not. Folks do not realize how much can be done when working with a professional. Personally my team here uses Linda Shorr with Regal Credit.

We use her and her services because she is honest, dependable and does not price gouge. Oh and of course she has a track record of fixing our clients credit with great success. On Friday, we helped someone that could not refinance and go from a 548 to a 640 credit score. Saving the client both time and money. It is a no brainer to pay $400 dollars upfront to get your credit fixed as opposed to paying $40,000 in higher fees and higher interest rates over the life of the loan. My advice to you is clean up the credit before you buy or refinance your Ft. Lauderdale Mortgage

To celebrate here at Fort Lauderdale Loan FHA the holiday, I am at work. But for those of you that may have taken the day off to go to church or to celebrate with a large feast and a pint of beer, please enjoy the music.

For those of us that live in the real world, lets get to it.

Not so good news was released by the FHA yesterday. Thanks to the current economic crisis and President Obama’s current administraton, they are limiting the amount of “Cash Out” on any FHA Loan. What does that mean?

That means that as of this week, lenders all across the country and Fort Lauderdale will only allow anyone to take cash out of their home up to 85% of the value of the home. Not a first look you think, thats great we as a country dont want people to strip out the equity of their home and lose it by investing with Bernie Maddoff in a Ponzi Scheme. Truth is most folks take cash out of their homes only because they have to. Like a renovation on their home, debt consolidation, medical emergency or taking out cash to invest in their own business. etc…

By limiting Fort Lauderdale FHA Loans to 85% of the value of the home. You are limiting the exposure for the government has if you default on the loan. But what about the people the need to take the cash out for any of the reasons listed above. What does FHA say to them. Sorry you cant get any money here.

I will take it one step further, what if you bought a home some time ago and you need to renovate it because it is 10 to 15 years old. What do you do if they will not let you refinance and take the cash out? 

If you want to do something before its too late, then contact me so that we can get the cash out before its too late! Talk to you all soon.