AMP Networking Event - Dallas
Realtors, Builders, Lenders, & Vendors.
officially 5:30 to 7:30 but stay later!
The Dallas/Ft. Worth Association of Mortgage Professionals Partiers will once again converge on the BlackFinn to release a little steam and put hump day behind us....
Happy Hour specials all evening. Music trivia contest and $1.50 burgers.
http://www.blackfinndallas.com/events/wednesday_trivia.html
Bring business cards.... You might like these cool people.
See ya there?
Tom Burris
DallasLoanGuy.com
Dallas, TX
"Your Dallas Mortgage Consultant"
http://www.dallasloanguy.com/
Texas Home Loans Dallas Mortgage Loans
I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!! Subscribe to My Blog and stay informed about current lending changes!!
While I personally focus on Texas Home Loans and First Time Home Buyers.... I do lend in other areas.
First Time Homebuyer Tax Credit Information <= Link to pdf with FAQ and IRS Form.
I am getting lots of questions about the $7,500 First-Time Homebuyer Tax Credit authorized by the Housing and Economic Recovery Act of 2008.
Seems that many believe to be a Down Payment Assistance Program. And it is not.....
But, it could be used to pay closing costs on a FHA Streamline Refinance of a recently closed FHA loan!!! I have a borrower doing that now. They bought last yr and have a rate over 6%. They will use their tax 'rebate' to help with closing costs on their refinance.
REALTORS: Please feel free to share the above document. I suggest you print one and keep it with you as you are working with clients. And, as always, I am available for follow up questions.
Show me some love.... Re-Blog this article.
Tom Burris
DallasLoanGuy.com
Dallas, TX
"Your Dallas Mortgage Consultant"
http://www.dallasloanguy.com/
Texas Home Loans Dallas Mortgage Loans
I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!! Subscribe to My Blog and stay informed about current lending changes!!
While I personally focus on Texas Home Loans and First Time Home Buyers.... I do lend in other areas.
Interest rates are near historical lows!
The calls are starting to come in... And quite a few of the callers have already been advised by the DallasLoanGuy to NOT refinance. It just doesn't make sense for every homeowner.
But, if you have a rate that will adjust in the near future or your fixed rate is 6% or higher.... This might just be the opportunity that is too good to pass up. It costs nothing to bring your profile to a professional Mortgage Banker for a tune up. And you could save thousands in interest payments over the life of your mortgage. (Note: Some lenders charge an application fee... And should be avoided).
At DallasLoanGuy.com, we refinance Convetional, FHA & VA loans.
FHA clients have a unique option not available to conventional borrowers. The Streamline Refinance. 
There are three of FHA Refinance options.
1. Non credit qualifying without appraisal.
2. Non credit qualifying with appraisal.
3. Credit qualifying, or full doc refinance.
UPDATE: Credit qualifying or not... Lenders now require 620 FICO.
The Non Credit Qualifying FHA Refinance, without appraisal.
This loan is a pleasure. Streamline Refinances WITHOUT an Appraisal. The maximum insurable
mortgage is the Original Loan Amount: The original principal balance on the mortgage (which will
include any upfront mortgage insurance premium) plus the new upfront premium
that will be charged on the refinance. This loan does not require the borrower to re-qualify. Income/debt/assets are not considered. Verification of on-time payment of current loan are the only qualification.
If the borrower doesn't have sufficient equity, the 'with appraisal' option may be required.
The Non Credit Qualifying FHA Refinance, with appraisal.
The maximum insurable mortgage is the lower of the appropriate loan-to-value ratio
applied to the appraiser’s estimate of value or the sum of the existing indebtedness
and related closing costs and prepaid expenses for the refinance.
Again, the income/debt/asset information is not considered. Verification of on-time payment of current loan are the only qualification.
Credit Qualifying
This loan is used when the borrower will experience an increase in payment due to length of term or deletion of a borrower. Assurance of ability to make future payments is considered. The lender must provide a verification of income, a credit report, compute the debt-to-income ratios and determine that the
borrower will continue to make mortgage payments
As you can see, the FHA borrower has many more favorable options than others.... Call the DallasLoanGuy Today to explore whether a Rate & Term Refinance is right for you!!
Tom Burris
DallasLoanGuy.com
Dallas, TX
"Your Dallas Mortgage Consultant"
http://www.dallasloanguy.com/
Texas Home Loans Dallas Mortgage Loans
I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!! Subscribe to My Blog and stay informed about current lending changes!!
While I personally focus on Texas Home Loans and First Time Home Buyers.... I do lend in other areas.
PLEASE REBLOG
WASHINGTON – Even as banks streamline programs to renegotiate troubled mortgages, efforts to help Texas homeowners are being hindered by the state's fast-track foreclosure process, according to housing counselors and government officials. In other states, foreclosure can take as long as four months, giving the borrower more time to negotiate a better loan or catch up with missed payments. But in Texas, the process starts sooner and may take as little as 41 days to complete – the quickest in the country, according to a 2006 study by the Texas Department of Housing and Community Affairs. "The biggest obstacle we have in Texas is we are a very fast foreclosure process state," said Linda Davis-Demas, assistant housing director for the Consumer Credit Counseling Service of Greater Dallas, which works with borrowers. "We are always up against the gun in regards to that."
FORECLOSURE PROCESS TOO SHORT, AG SAYS AUSTIN (Dallas Morning News) – Texas' swift foreclosure process does nothing to help beleaguered homeowners, but that could change during the upcoming legislative session. State Attorney General Greg Abbott plans to push the Texas Legislature to lengthen the time homeowners have to fix a default, from 20 to 45 days. Under state law, a homeowner who doesn't catch up on payments after receiving the 20-day notice can lose his or her home. In other states, foreclosure can take as long as four months, giving the borrower more time to negotiate a better loan or catch up with missed payments. But in Texas, the process starts sooner and may take as little as 41 days to complete — the quickest in the country, according to a 2006 study by the Texas Department of Housing and Community Affairs. Texas Realtors: This looks like a great opportunity for these people to list their properties before foreclosure!!! And I certainly expect a bunch of you to be contacting your Texas State Representatives.
Tom Burris "Your Dallas Mortgage Consultant" http://www.dallasloanguy.com/ I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!! Subscribe to My Blog and stay informed about current lending changes!! While I personally focus on Texas Home Loans and First Time Home Buyers.... I do lend in other areas. 
Photos by COURTNEY PERRY/DMN
Forrest Brannon, 78, of Dallas got behind on his mortgage after having to spend more on health care and seeing the interest rate on his adjustable-rate mortgage spike. He recently got a notice of impending foreclosure on his home.
I would think that a smart Realtor would try an capitalize on this.
DallasLoanGuy.com
Dallas, TX
Texas Home Loans Dallas Mortgage Loans
The Right Appliances
I couldn't think of the name today. Nor could I find a receipt from the last service call..... Aaaargh!!
I had an emergency appliance repair call about 18 months ago. This guy advertised(yes, I pulled out a dusty old yellow book) that they would come out on weekends so I gave him a call. Mike showed up and fixed my problem pronto! Had the parts on his truck and spoke 100% english. I even felt good about the price I paid.
Fast forward to today. The clothes dryer had quit working and the wife was pushing me to find a repair man. I couldn't find Mike's info..... so I took a chance again with the dreaded yellow book. I knew he was from garland and tried to pick out an advertisement that looked familiar. SCORE!!! Mike showed up at my door within the hour. WOW!! Yes, he fixed me up pronto and had the parts on his truck. (Clue: Not every repairman stocks stuff on the truck. They have to go fetch parts and charge you for that time)
Well, you can better believe that I have filed his info for future reference. I even wrote his name and number on the back of 2 appliances with a Sharpie.
No link love for Mike.... They don't have a website. But they have Mike and he is very loved on Angie's List....
So if YOU need an honest and reliable repairman for most any appliance in the North and Northeast Dallas areas.... I would highly recommend Mike with The Right Appliances. Not that often do you get the owner of the company out to fix your 'stuff'. It is nice to have a guy who cares about his work making recommendations.
Tom Burris
DallasLoanGuy.com
Dallas, TX
"Your Dallas Mortgage Consultant"
http://www.dallasloanguy.com/
Texas Home Loans Dallas Mortgage Loans
I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!! Subscribe to My Blog and stay informed about current lending changes!!
While I personally focus on Texas Home Loans and First Time Home Buyers.... I do lend in other areas.
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North Texas Mortgage Banker providing FHA/VA/Conv loans for purchase or refinance. We fund mortgage loans across the entire Great State of Texas!! 214-763-4629 cell/text - available night/weekends.
Your Texas FHA Loan Resource &
FHA Streamline Refinance Headquarters
Texas Home Loan Blog
At DallasLoanGuy.com, when we pre-approve a client.... they close, and close on time. PERIOD!!
Live chat applet => Texas Home Loan Chat <= Ask me a mortgage question NOW!!!
North Dallas Mortgage Loan Officer serving the entire Great State of Texas.
I have been a loan officer for over 4yrs. A salesman all of my life, I wanted out of technology sales really bad. I joined a credit repair company to head up their IT dept. It was there that I became exposed to real estate lending. Folks told me that the refi boom was over and that I was getting in at the wrong time.... boy were they wrong!! I have learned to network for referrals rather than rely on the phone to ring from yellow page ads. A lot of lenders have not cultivated that market and are suffering.
My knowledge of credit scoring has served me well in this industry. I have helped countless folks raise their score(at no charge) to get into a better loan program. Let me tell you... if you send your clients to a credit repair company, you ARE doing them a disservice. Those companies are more interested in collecting money for credit repair than doing actual credit repair. So many folks have been burned by them. http://www.dallasloanguy.com/docs/about_credit.pdf <= this FREE book is a great tool for realtors and lenders alike. If your borrower, cannot qualify today, they soon will be able to raise their scores with this knowledge. (Note: While I do not condone someone trying to get legitimate derogatories off their reports.... I do feel strongly that EVERYONE deserves a fair and accurate reflection of their credit history in their reports)
I am married. My wife, Lori, is a nurse. Two kids, both boys, Ethan age 7yrs and Evan age 2 yrs. They Keep me on my toes!!
I like to fish and hunt. Camping too. I don't have much time for that these days, but soon the boys will be old enough to go with me.
I like networking. Just keeping up with old friends and making new ones. I love chatting about the business. I like to learn something new every day. So i welcome comments and suggestions. Even constructive criticism is met with a smile.
Although I do consider myself a professional, I am pretty laid back guy. Approachable and friendly.
http://www.dallasloanguy.com/wordpress/ <== Check out my Blog at my website.
If you or anyone you know needs a Texas Home Loan, or Texas FHA Loan please do not hesitate to call me day or night. And if you call the office line, please do not forget to ask for Tom Burris.
http://neighborsgo.com/dallasloanguy
DallasLoanGuy.com provides free one-on-one credit consultations to ANYONE who will FIRST take the time to read my free book about credit and purchase a scored credit report. This information can save people thousands of dollars over the life of their loan.
Texas Home Loans. We cover the entire state of Texas.
$0 down financing. <= I do more of these than anything else. Literally no out of pocket on most deals. "Zero Down Home Loans are still avalable"
Investment loans(although i really don't like to do them...), I have done plenty.
Free Credit Consultations!! Includes a free book on understanding credit and the credit repair secrets. This is a no hassle, no bull kind of deal. If you do not have a copy of your credit report, I can provide you one at my cost. The typical credit consultation session is 1hr. Can be done at my office, your home, Starbucks, or wherever. The only rule is that you need a scored trimerge credit report and must have read my FREE e-book before we start. NO, I will NOT do credit repair for you.
All I ask for in exchange is a chance to do a loan for you, or even better, you send me referals for home loans.
http://www.dallasloanguy.com/resources.shtml <= look for the e-book "About Credit" here.
Remember, this is a "Free credit consultation" with no other obligation from you but to purchase a scored credit report.
FHA, VA, Conventional financing.
A-Paper loans.
Loans for less than perfect credit. Even if the credit is down right ugly. My best effort will be to put my client into a conforming a-paper loan. But subprime loans are there for when they are needed.
Home for Heroes!! Flexible underwriting guidelines for those in Noble Professions. Includes: Teacher Loans / Police & Firefighter Loans / Medical Worker Loans.
Texas Blogs
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**************************************************************************************************** The deal went very well. Thanks so much for all your effort. You really pulled my booty out of a jam. YOU DA MAN!!! Thanks! P.R. Remax, HoustonBrian Brady wrote at 1:10pm
To anyone watching:
Tom Burris is my "go-to" guy in Texas. While I lend in 50 states, Texas is sort of it's own country; it's one state I avoid.
I recently asked him to help a dear friend of mine, who moved to Texas. She was talking to two lenders: one of which was ripping her off blind, the other of which she was able to use because of Tom's coaching.
Tom can't fund EVERY deal so he backed off when someone else was more suitable; that's integrity.
Tom can't fund EVERY deal in Texas but he should fund yours. He receives an unqualified recommendation from me.
Truly, no one else could have done it.
****************************************************************************************************
Tom,
Of course we're now on the homestretch and we still don't know if underwriting is going to tell us to kiss their behinds or not...BUT I wanted to personally thank you for your time, patience, honesty, and everything you've done for us. You represent your profession very well. As you know we were faced with dealing with some not so good brokers but you sir, have really impressed me. I will send EVERY person I know your way not because you're a "yes" man but because you are a "honest" man who will lay the facts out for your clients and work with them to the best of your abilities.
Thank you Tom. Again and again. And again.
Love,
The Doss Family
****************************************************************************************************
From: ******************
Sent: Tuesday, November 06, 2007 5:46 AM
To: Tom Burris
Subject: RE: How's the new house?
I'm overjoyed, but exhausted. Moving is no joke. I have limited access to the internet after 2pm; my services are not setup at HOME :-) yet. I am working on my dallasloanguy.com testimony right now!!
I can't thank you enough for all of your help. Never in my wildest dreams would I have thought that the process would go as smoothly as it did.
I've got to share photos of what we've done with the place.
K. R.
Houston, TX
****************************************************************************************************
From: *****************
Sent: Wednesday, January 10, 2007 12:27 PM
To: tomburris@dallasloanguy.com
Subject: FW: update
Hey Tom- how are things treating you? Just wanted to let you know that everything is great over at the new house and Nick and I are expecting our first child. Thank you for everything you did to help make this happen for us.
Hope you have a great new year!
**************************************************************************************************
From: ****************************
Sent: Tuesday, August 22, 2006 10:37 AM
To: Tom Burris
Subject: RE: Good faith estimate
When I first contacted you, I was basically scared to death about what my options were going to be when my present mortgage starts to "adjust" this November. Thanks to your work, I feel much better now.
(So are you going to use that for a testimonial on your website) LOL
Thank you,
Lisa
******************************************************************************************************
I want everyone to know that I first started asking Tom questions even before my BK was discharged. There were several months I emailed and called him even before I applied for my mortgage. He was great throughout the whole process and even called to follow up after we moved in.
Tom was always a calming influence and patiently listened to me when I was freaking out. Overall it was a fairly quick close--less than 30 days from when I first put in an offer on the house.
Oh--and there was only one big surprise at the closing table..... fees were LOWER than quoted!!!!
THANKS TOM!!!!!! See ya when it's time for re-fi 
******************************************************************************************************
Tom,
Before we heard about you.... we NEVER thought we could own a home. Every time we got our heads above water, something would happen. We would make a mistake or the medical bills would be back.
Thank you, thank you, thank you for taking the time to work with us. You have made our dreams come true
Susan
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