This is a call for action!

Now that appraisers have been insulated from contact by lenders, borrowers, and Realtors, some appraisers are taking the easy way out and using a lower value to save time. It's time to fight back.

• It's killing our values
• It's killing our loans
• It's killing our interest rates

It's so bad, even houses are calling 911! Today I urge you to use the dispute process if you feel like your home is being undervalued. It's time to fight.

Check it out:

(Watch it on your mobile phone or email reader here)

___________________________________

I know you heard of a dog calling 911 to save his masters life or a three year old somehow managing to dial 911 But have you ever heard of a HOUSE calling for help? It actually happened last week!

Check out the full story here. It’s a weird chain of events. I wonder if the house can call a FHA203k lender to rehab it. Now that would be impressive.

Let's talk about Appraisals. Like it or not, every mortgage transaction (purchase or refinance) rides on the value determined by the appraiser. With today's guidelines in place, you can not pick your appraiser or talk to them about value. All you can do is order the appraisal and pray that the appraiser is having a good day when he is working on your report.

Today the world woke up to the news that Osama bin Laden is dead.

Unless you're in hiding yourself, you have no doubt heard that the US Navy Seals "Team Six" group found and killed Osama Bin Laden yesterday. The world is a better place today because of it.

What you probably didn't know was that Osama bin Laden is hurting mortgage bonds and interest rates today since the market rallied on this good news. Stay tuned.

Don’t forget to thank the people that serve this great country. They sacrifice a lot so we can have the freedoms we enjoy.

To honor our troops, today I talk about VA Home Loans for veterans. It's a great program offering low rates and 0% down. If you know a veteran, forward this on to them so they can enjoy the benefits of this great niche mortgage program.

Here's more in today's video:

(Watch it on your mobile phone or email reader here)

___________________________________

In honor of the Osama bin Laden's death and our brave troops, I want to provide an overview of the Veterans Administration VA Home loan.

These loans do not require a down payment and only have a minimum credit requirement in the low 600’s. They also have amazing rates (4.375% on a 30 year fixed rate VA mortgage today). This is a great loan for service members and they should definitely take advantage of this program.

Who is eligible for a VA guaranteed home loan?

No royal wedding fever here today...

It's casual Friday and I want to talk about something that's more important to all of us. Money.

I've been getting a bunch of questions about who pays for what expenses during a purchase transaction. Instead of making a list of every fee that the buyer pays for and what the seller pays for I want to let you know that every fee in a purchase transaction can be negotiable. Seller concessions can be a great way to save money on your purchase.

Here's more in today's video:

(Watch it on your mobile phone or email reader here)

___________________________________

During your negotiations, you as the buyer should already know what you will need for a down payment and closing costs from your lender. Take the amount of your closing costs and simply write it in the offer. It would read something like this:

"Seller to pay X amount of buyers closing costs and prepaid items at the time of closing."

This amount will help you need to bring less money to closing. You can only get credits for costs and expenses, not down payment money.

Will you ever again get 100% financing when buying a house? Is it still possible to someday have a 0% down payment? Are the days of the 80/20 mortgage long gone?

Today I pull out the crystal ball and predict the future of 100% loan to value (LTV) mortgages.

Here's more in today's video:

(Watch it on your mobile phone or email reader here)

___________________________________

Will we see 100% financing again?

Yes.

There is still 100% financing available with a USDA loan in certain areas of the country. They have some geographical and income restrictions but they are still doing it.

However, I think most people are really wondering about more conventional financing. Will we ever be able to put no money down for a conventional Fannie Mae or Freddie Mac type mortgage in the future?

I hope everyone is having a great time and learning a lot over at Agent Reboot today!  Thanks for the massive amount of questions yesterday.  You guys have supplied me with some awesome discussion topics for future videos.  Keep 'em coming!

I don't want you to be afraid to ask the hard questions.  That is what I'm here for!  Lets see if you can stump me!  I welcome the challenge.  To help encourage the tough questions, I will give anyone a $100 American Express gift card if they can send me a mortgage question I can't answer.  Let's have some fun with it!!

In today's video, I answer Kevin Hill's question about owner occupancy if you let the seller live there for a while until their home purchase goes through.  It's a tough one, but I have an answer.

There's more in today's video:

(Watch it on your mobile phone or email reader here)

___________________________________

Today's question is from real estate agent Kevin Hill.  In response to the video I did on being up front with your occupancy, he asked “What if the owner intends to live there, but grants a use occupancy for the seller to stay there until the home he is buying closes?

The key is INTENT.  If your buyer intends to live in the property they are on the right track.  The guidelines state they must take occupancy within 60 days on a conventional loan.  Now with that being said, I am not sure the investor would be knocking on their door at 65 days.  Anything after 60 days would be at your own risk.  Any investor could call the note due and payable after the 60 days, so to be on the safe side I would play by the rules.

This is the best Rates in Motion episode ever!

Hey, I know that mortgages are boring and confusing, so today I offer some advice on what you need to tell your loan officer when shopping for a mortgage.  I hope it helps.  Let me know if you have any questions about the industry, carrier pigeons, or any other crazy stuff we talk about today.

For all the viewers that are real estate agents, the Agent Reboot conference tour just gave me 5 passes to give away to agents who ask questions using the Rates in Motion Facebook community or tweet a question to me @RatesinMotion.  You'll get an extra entry for every "Like" your question gets on Facebook or each retweet it gets on Twitter.

Let's get some discussion going!

Post your questions and we'll announce the five winners at 4:00pm CT.

Also, Gary Vaynerchuk will be in my neck of the woods (Milwaukee) and I can't wait to finally meet him.  His video blogs about wine have helped change the way people get free information (like Rates in Motion).  His energy has informed and inspired many, myself included.  His books The Thank You Economy and Crush It are great too.

There's more in today's video:

(Watch it on your mobile phone or email reader here)

___________________________________

Agents, looking to reboot your career and help revolutionize the real estate industry?  Check out Agent Reboot 2011 in Minneapolis!

Here are the top three things you should be telling your loan officer to make sure they are putting you in the correct mortgage.  The correct mortgage will save you a ton of money.

1. How long you will be in your house
2. Your financial goals
3. How much money do you have to put down on your new home or pay down your existing loan?

Today I talk about the one question you should ask every loan officer when you're shopping for a mortgage lender.

Also, a large group of real estate agents will be meeting in Minneapolis on Wednesday to "Reboot".  Looks like a great gathering produced by our friends at Inman News.

If any real estate agent or broker has questions, we'll be doing a special episode on Wednesday to answer them.  To have your question answered, just email This email address is being protected from spambots. You need JavaScript enabled to view it. , tweet @RatesinMotion, or post on the Rates in Motion Facebook wall.

It's all in today's video:

(Watch it on your mobile phone or email reader here)

___________________________________

Agents, looking to reboot your career and help revolutionize the real estate industry?  Check out Agent Reboot 2011 in Minneapolis!

I want to make your mortgage shopping experience simple. Here is what you do. When you are talking to several loan officers during your quest to get the best deal, ask one simple question before you give them any information for a mortgage quote:

Will you match or beat any deal I find elsewhere?

Special thanks today to Michael D. Harris Jr., who is the editor of The Lime Magazine and president of Ardynn Media Group.  Rates in Motion now has its very own tab on his online magazine!

We're looking forward to fitting right in with the other industry and technology news they have for Realtors.  I love me some technology!  If your looking for some great real estate info start there.

I do!

Today I want to address something that I just heard from an agent friend of mine.  She was following up with a buyer from last year that was waiting until Spring, but when she called them they said they are no longer in the market because it is to hard to get a mortgage.   I know lending has tightened, but these home buyers got some bad information.

I respond in today's video:

(Watch it on your mobile phone or email reader here)

___________________________________

The people in today's episode had great credit and money set aside for a down payment.  They should have no problem getting a mortgage.  There are a ton of loan programs out there especially for first time home buyers:

• FHA – 620 score required and 3.5% down
• USDA – 620 score required and 0% down
• Conventional financing - 680 score required and 5% down
• FHA 203(k) - 620 score required and 3.5% down, but you can get money at closing to rehab the house.

I'm on the road again, this time shooting from my hotel room.

Some of my friends jokingly call me the "Godfather of Rates", so we had a little fun in this episode answering a question about Private Mortgage Insurance (PMI) and whether you'll need it or not.

Check out today's video:

(Watch it on your mobile phone or email reader here)

___________________________________

Today's rates with NO lender fees are 4.75% on a 30 year, 4.0% on a 15 year and 3.25 % on a 5/1 ARM.  These are best rates I found today with NO lender fees.

If you Like this information please post it, share it, tweet it, and forward it to everyone you think could use it.  If you have an iPhone, Android, or Blackberry smart phone, don't forget to download the free Rates in Motion LoanApp.

Sometimes appraisals go the wrong way. That's usually bad news if you're all ready to move in.

Today I talk about why an appraisal can be an issue and ways to fix the situation if an appraisal comes in too low when trying to buy a home.

I explain more in today's video:

(Watch it on your mobile phone or email reader here)

___________________________________

There are a couple things you have to consider when having purchase appraisal problems. How was that purchase price determined in the first place? Did the seller set their own value based on a old appraisal or did the realtor do an accurate market evaluation on the property? A good market evaluation on a home will use comparable property sales within a small radius from the subject property.

Deadlines, deadlines, deadlines!

Don't forget the deadline for income taxes and that FHA mortgage insurance premium increases kick in.  To help make up for the pain, we're launching the free Rates in Motion LoanApp goes live!  It offers updated rates, monthly payment calculators, prequalification, and more.  Check it out and let me know what you think.

Today I want to talk about something I mistakenly thought was obvious...occupancy on your home. Your occupancy situation changes the way your mortgage is structured and the rate you get. I want to make sure everyone knows what the guidelines are for occupancy on your home.

I explain more in today's video:

(Watch it on your mobile phone or email reader here)

___________________________________

If you have an iPhone or Blackberry, don't forget to download the free Rates in Motion LoanApp.

Today's rates with NO lender fees are 4.75% on a 30 year, 4.0% on a 15 year and 3.25 % on a 5/1 ARM.  These are best rates I found today with NO lender fees.

If you Like this information please post it, share it, tweet it, and forward it to everyone you think could use it.

Here’s my top five things that will kill your mortgage application or give you one BIG mortgage headache!

• Opening new credit or using up your current credit.
• Missing payments.
• Making large deposits without a paper trail.
• Switching jobs in the middle of your mortgage process.
• Not being up-front with your loan officer.

I explain more in today's video:

(Watch it on your mobile phone or email reader here)

___________________________________

The world’s oldest man died yesterday in Montana.  Walter Breuing was 114 years old. In an interview, he said that the reason for his longevity was eating two meals a day, working as long as he could and embracing change.

Just imagine how much the world has changed over the last 114 years!  You have to adapt.  I thought this story was inspiring due to all the changes in the real estate and lending world lately. It’s time to embrace the changes. It’s here and there are great opportunities that come along with change.

Click here for the full story

Here’s my top five things that will kill your mortgage application or give you one BIG mortgage headache!

5. Opening new credit or using a lot of your current credit.

Don’t Buy a new car or buy a four wheeler on your credit card during the mortgage transaction.

4. Missing payments.

Mortgage rates are down today!

Today I wanted to share my experiences at a meeting of home buyers. The look on their faces was priceless!

I also cover:

• Why referrals aren't always good for you
• The difference lower mortgage rates make

Here's more:

(Watch it on your mobile phone or email reader here)

___________________________________

Just in case you missed yesterday’s episode, I went on the road to see a group of realtors and their pre-approved buyers.  I showed the realtors the importance of making sure their clients are getting the best deal on their mortgage and showed the buyers a couple methods of shopping around.

It is always funny to see the expressions on people’s faces when I show them the difference between their current deal and the deal they should be getting.  For one person, the money they would save on closing costs would get them below the 80% “Loan to Value” mark and save them from PMI.

It was great to help open the eyes of buyers and agents.  Now it’s up to them to make sure they either renegotiate the terms of their mortgage or contact Mike so he can find them someone that will.

On another note, today I wanted to talk about the dark side of referrals.  Don’t get me wrong, I love referrals and love referring people.  When I get great service or find something I was super happy with I like to tell everyone.  I assume you are all the same way.   I have a great accountant – referral, Auto mechanic – referral, dry cleaner – referral.  Referrals are great and they can help you get what you need.

Mike is on the road again!

This time he's heading to a first time homebuyer group hosted by a local Realtor. There will be loan officers there, so this should be fun!

Here's Mike's update from the road:

(Watch it on your mobile phone or email reader here)

____________________________________

Click here to visit the community of Rates in Motion viewers on Facebook.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question.

Mike reminds you that if you're looking to buy a home or change mortgages, don't change jobs!

Inside today's episode you'll find:

• Top 9 home repairs after winter
• What to avoid if you're thinking of switching jobs
• Japan raising the nuclear threat level affecting rates
• Inflation fears pulling the opposite direction on mortgage bonds

Here's more:

(Watch it on your mobile phone or email reader here)

____________________________________

Click here to see the "9 Home Repairs to do after Winter" article

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question.

Mike was nearly hit with a tornado yesterday!

Today he shares his experience driving to the studio today and talks about homeowner's insurance.

Inside today's episode you'll see:

• Inflation fears affecting mortgage bonds
• Pictures from last night's tornadoes in Wisconsin
• Specific homeowner's insurance recommendations

Here's more:

(Watch it on your mobile phone or email reader here)

____________________________________

Click here to visit the community of Rates in Motion viewers on Facebook.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question.

The US Government is close to shutting down, mortgage bonds are lower, and USDA, VA, and FHA loans may be affected.

However, there is good news.

Apartment vacancy rates are dropping and in many places around the US, buying a home is cheaper than renting. Grab a real estate agent, find a lender with great rates, and save some money.

Here's more:

(Watch it on your mobile phone or email reader here)

____________________________________

Click here to learn more about 5 ways a government shutdown would affect you.

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question.

What's better than a low payment? No payment!

A new company will pay your mortgage for you if you let them use your house as a billboard!

It might be a good idea with the new loan officer compensation regulations that went into effect yesterday. Some loan officers are raising their rates and it might be nice to have a break from your mortgage payment. Plus, they promise to repaint it when they're done.

That's a good deal.

Check it out in today's episode:

(Watch it on your mobile phone or email reader here)

____________________________________

Click here to learn more about Adzookie's no mortgage payment option

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question.

In answer to Kevin Hill's question, Mike gets out his crystal ball to help answer the question:

When will rates actually go up as predicted?

Today Mike discusses:

- A major CNNmoney.com article
- How Japan affected mortgage prices
- US Government selling mortgage bond

Here's more:

(Watch it on your mobile phone or email reader here)

____________________________________

Click here for today's CNNmoney.com article

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question.

After April 18th, FHA guidelines are changing and your mortgage insurance will be more expensive for FHA loans.

Today's episode also features:

- Taxes on your iPhone? - US debt weighing in on mortgage bonds - Congrats to our friends at the Insider Show for their successful launch!

Here's more:

(Watch it on your mobile phone or email reader here)

____________________________________

We love interaction!

To ask a question, get Mike’s advice, or find out what your lender is making off your loan, just post a comment with your question.