Matthew J Blum - MyFavoriteMortgage.net

Is your Adjustable Rate Mortgage (ARM) coming due or know someone that is? Then please pass this information on to them.

As a Mortgage Broker in South Florida (Palm Beach Gardens), I have seen many market trends within the Lending Industry. Right now we are in a correction state of the market and we have seen both the Fix rate products as well as the ARMS coming down in recent months.

When your lock in period is over 2, 3, 5 years or even 10 years down the road the way you can figure your rate out is simple:

LIBOR- 4.41

+Margin- 2.50 (Example only. Please review your Note for your exact Margin)

Final New rate 6.91%

Now please keep in mind, you do have safe guards in place with your current loan. Most of the time you have caps ranging from 2 to 3 point spread. So if you are currently paying 5% your first adjustment may not be higher then 7-8%.

Recently I have noticed many clients calling their current Lender/Investor and asking them what the new rate will become when it goes into adjustment period. With the current Indices relatively low some clients are not seeing a major change in their adjustments. PLEASE DON'T BE FOOLED by this.

Most of todays Adjustable Rate Mortgage's are tied to the LIBOR index. LIBOR is short for London-InterBank-Offered-Rate. While the index today is not that high in can change in an instant. This program can spike very easily and before you know it you can be paying a much higher rate than you anticipated. I am not trying to use scare tactics but please, people must realize with the current financial trends in the United States we can be in for a bumpy ride.

When looking at your payments now and what they will be if you refinance please also take into consideration if you don't see much of a payment change you are buying insurance policy on your Mortgage. Yes, their will be a cost to refinance know matter what any fancy advertising tells you. Last time I checked the State still gets their money and know one works for free. However, when you purchase insurance their is a safety factor as well and you realize you must have car insurance and Health Insurance so why not have insurance in the knowledge of knowing you are safe in your new mortgage. Being proactive with your Adjustable Rate Mortgage is the key. Don't wait until it is to late.

For More Mortgage Advice: Mortgage Advice in South Florida

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Being a Mortgage Broker in Palm Beach Gardens, Florida (South Florida), and someone who does not purchase leads for clients I rely on referrals from past clients as well as people who find me on-line. Once someone visits my web site ( MyFavoriteMortgage.Net ) and fills out a request for info I get sent a text message right to my phone. Don't you love technology?

With the holidays and most everyone having odd hours right now I was able to receive potential clients over the past week. Once I received the message I called the client right back. Can you imagine their surprise to actually find someone working odd hours like themselves? In addition, finding someone who is willing to take the time to answer all of their questions.

I have found when people go through the process of filling out a request for info section they really do not want to wait for an answer. In most cases they will end up going to several web sites and forget which sites they where on when they found you.

Now please do not get me wrong I will not call someone back at 3 AM however, the way my site is set up is the client will get a confirming E-Mail immediately to let them know who I am and all of my contact information and that I did receive their E-Mail and I will be contacting them shortly.

Over this past week I was able to work with two more additional clients thanks to my competition not be able to respond fast enough for them. Which brings me to this question:

Are You Available 24/7 For Your Potential Clients?

For More Mortgage Advice: Mortgage Advice in South Florida

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