An escrow account is a designated savings account into which funds get deposited for a specific purpose.
With respect to real estate and home loans, escrow accounts are used to pay real estate tax bills and homeowners insurance payments.
Escrow accounts are managed and disbursed by lenders.
When a homeowner "escrows" his mortgage...
Read the COMPLETE BLOG POST HERE:
Simple Real Estate Definitions : Escrow Account
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, and proudly the newest contributor to Lenderama.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
Beginning November 17, 2009, the FHA will make it harder to qualify for its popular Streamline Refinance program.
Available exclusively to homeowners with existing FHA home loans, the streamline program is meant to help homeowners reduce mortgage payments as simply as possible.
As such, the program carries minimum eligibility requirements.
In fact, the FHA Streamline Refinance is more notable for what it doesn't require from applicants.
The two biggest qualifiers, really, are... READ FULL STORY HERE
The FHA Is Changing Its Streamline Refinance Guidelines November 2009
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, and is the resident "Money Guy" on Realty Resolve.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
According to the Freddie Mac weekly mortgage rate survey, the relative cost of a 5-year ARM is dropping versus its 30-year fixed-rate cousin. During the first 5 months of 2009, the products ran neck-and-neck. Today, they're a half-percent apart. On a $200,000 home loan, that's a difference of $60 per month. Adjustable-rate mortgages aren't for everyone, but for the right household, they can be a terrific fit. A few scenarios that warrant consideration of a 5-year ARM include persons:
Additionally, with homeowners with existing ARMs may want to consider taking on a new ARM, if only to extend their initial, fixed rate period. Before choosing an ARM, make sure to speak with your loan officer about how adjustable-rate mortgages work, and what causes them to adjust. Although conventional ARMs are limited in how far they can adjust, it's important to know the risks.
Watch the Fox 35 Video here. 
Andrea Tlumacki was one of the people not afraid to take the plunge... and she has been rewarded for it! With the deadline of the $8000 First Time Home Buyer Tax Credit approaching - it is urgent to develop a plan of execution. Most people are focused on the restriction of closing before the expiration of Nov. 30th. Fair enough... but many are not building a time line in order to establish milestones that one needs to meet if they desire to witness the delivery of an $8000 Treasury check. This is done by finding the advice of both a rock-solid Realtor and a Certified Mortgage Planning Specialist.
Andrea Tlumacki did. Expert real estate advice - proved priceless. Not only was she able to nail down a low mortgage rate of 4.500%, but received unparalleled direction by utilizing "top-agent" experience to get a purchase price that would make an investor envious.
In her interview with Andrea, Tracy Jacim states, "time is running out," and the time to delay is over. Many of us are familiar with Student Syndrome - but the need to:
...has a time line of about a week. Sure, things can be closed a somewhat faster in the proper circumstances, but as volume elevates in the weeks ahead for lenders, the length of time it takes to actually close will be increase. In other words... it is important to engage in the Orlando Real Estate process quickly if you hope to benefit from the First-time Home Buyer Tax Credit before it expires.
See the full article for complete explanation:
See the full article for complete explanation:
P.S. This is big news, you may choose to forward it to tell you care about...
Where to now?
Get the 21 Most FAQ about the $8000 First Time Home Buyer Tax Credit - new and old.
Find out home much home you qualify for NOW.
Get introduced to a solid Realtor regardless of where you are in the country.
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Anyone can say anything about themselves. Whoopy! See what my PAST CLIENTS are saying... http://www.orlandomortgagepro.com/What_people_are_saying.htm
Welcome
Don't HATE me because I am conservative with YOUR money! Let someone else take the risks.
Feel free to check me out here, but if you prefer, you can go directly to one of the following:
Orlando Real Estate | Orlando Credit Repair | Loan Modifications | Orlando Mortgages
Orlando Real Estate and the Mortgage Chili Blog
I have a reputation for my highly relational approach to my Orlando mortgage business and intentionally blur the lines between business and friendships.
"All things being equal, people would rather do business with people they like. I believe that all things not being equal, people would still rather do business with people they like."
It is with this philosophy that I have built one of the most loyal groups of clients [read: friends!] and successful mortgage and Orlando credit repair practices in the Central Florida arena.
Don't be surprised if you hear me ask, "How can I help you in your [life, business, etc.] today?" And when I does, know that it is driven by a sincere desire to serve those around me... pay it forward so to speak.
I have a record of self improvement that would rival that of anyone in the industry. I either am or have been aligned with:
I have also invested in my community with my time:
I, Chris Brown, pride myself as NOT always being available, and surprisingly,when I took that approach long ago, my business grew! If you don't make the time in your life for the things that are truly important, you will fill your time with things that are not. For me, it is God First, family second, business third. I am only able to pour my life into my clients because I build boundaries to recharge my batteries with my family and my Creator."
Chris's home for living with life balance.
Chris the Implementer
Orlando Mortgages | Orlando Credit Repair | Orlando FHA Loans
Orlando Real Estate | Florida Reverse Mortgages | Mortgage Chili Blog
Chris is mainly known for his work in the with First Time Home Buyers.
Being quick on his feet reacting to market changes, Chris has also developed quite a respectable FHA business and has become one of the best resources for local Realtors who have folks with challenged credit through his association with the U.S. Credit Repair Counsel.
The Bottom Line:
Chris uses all of the tools he has independently invested in to help agents determine, and fast, if they have a buyer that can qualify for a purchase. Since agent's time is their livelihood, this has become an invaluable tool for them in this challenging market.
"Chris is detail-oriented, resourceful, and on-time with his work. We'll work with him again, and refer others to him because he does great work."
Top qualities: Great Results, Expert, Creative
Augie Byllott
First hired Chris as a Financial Advisor in 2005, and hired Chris more than once
"Chris is an honest, hard working mortgage professional. More than that he is a good man. Integrity and faith are two of his greatest strengths. His foremost concern is what's best for his client. He is the kind of business professional you can enjoy working with."
Top qualities: Personable, Expert, High Integrity
Kristy Stevenson
First hired Chris as a Mortgage Lender in 2003, and hired Chris more than once
"I have hired Chris more than once to get me through the mortgage process. Chris kept me informed on a daily basis of progress and his attention to detail and devotion to customer service is phenomenal. I will continue to use Chris for all of my mortgage needs in the future."
Top qualities: Personable, Expert, High Integrity
Marcus Mennenga
First hired Chris as a Mortgage Lender in 2005
"Chris has worked with many of our clients and they are always well-pleased. He is a detail-oriented manager who always does what is right for our clients. It is a privilege to have Chris' expertise helping our clients."
Top qualities: Personable, High Integrity, Creative
Henry Silva
hired Chris as a Equity Manager in 2007, and hired Chris more than once
"I have purchased and re-financed many houses in the last 10 years and I am happy to say that Chris Brown is, by far, one of the best Equity Managers I have ever worked with. There were absolutely no hiccups in the entire process. He is very professional, knowledgeable and cooperative and it has truly been a pleasure working with him. I am happy to give my recommendation to use Chris for any mortgage loan need."
Top qualities: Great Results, Expert, On Time
Garth Bolton, Owner, Property Rescuer, Inc.
first hired Chris as a Mortgage Lender in 2004-present
"Chris is a very detail orientated mortgage lender that goes above and beyond what could ever be expected. Add that to his high level of integrity and honesty and you have a trusted advisor with advise worth heeding!"
J Robert Brown, Owner, Prefer1 Realty
was with another company when working with Chris at Trinity Mortgage
"Chris has provided mortgage lending service to a number of the folks whom I've helped either buy or sell a home. Chris is consistently conscientious, on top of the situation, and communicates very well. He anticipates situations before they get out of control and helps to resolve them. Chris takes a long-term view of things and is a " can-do" kind of person whose primary goal is to satisfy his customers, confident in the knowledge that if he takes care of them, he will be successful."
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