contributing writer Michelle Mogel
Jeff Lazerson was not happy with business as usual among mortgage brokers. He felt much of the process of getting a mortgage was unfair and exploitive. So he convinced the Ford Foundation to help him create MortgageGrader.com, a site that hopes to assist the applicant in finding the best rate possible.
This article by Jack Guttentag compares MortgageGrader to two other methods of online mortgage shopping: Upfront Mortgage Brokers (UMB) and Upfront Mortgage Lenders (UML). All three allow the borrower to shop and compare rates. But each method has a different set of information requirements and degrees of difficulty and each seems tailored to a different goal.
UMLs gather a minimum amount of information from the borrower in order to provide an accurate rate. Given the small amount of personal information required, it's fairly quick and easy to fill out one form and thus easy to compare rates on different sites. UMBs are more flexible in that they allow the borrower to negotiate their fee and will lock in at the rate and terms when directed by the borrower.
MortgageGrader's main differences are in the amount of information required of the applicant. Several screens worth of personal information is gathered and this information is not retained, creating a headache when the borrower wishes to try another lender. While this may provide a more accurate rate and fee, it's also extremely difficult to shop and compare prices. So, this option seems to be best for those borrowers who have one lender in mind. Which, to my mind, kind of defeats the purpose. MortgageGrader also offers only a fixed fee that is related to the amount of the loan.
MortgageGrader is currently licensed in California, New York, Florida, and Idaho.
Thursday, April 17, 2008
Thursday, April 10, 2008
Home Sellers Prepare your Landscape
The appearance of your home entails much more than just the house. Curb appeal, that which is the first impression of a potential buyer, includes the landscape that frames your home. This is something that involves a lot more than just your driveway, lawn, and sidewalk. Any bushes, flower gardens, trees and fencing that surround the home create the initial feeling for the potential buyer.
A potential buyer is influenced by both the landscaping of the outside as they are by the actual building. Some basic landscaping can raise your market value more than 10 percent. As the seasons change, and spring moves in the market improves along with the weather. As a seller it is vital that you evaluate your landscaping selections. Simple changes such as a variety of floral beds that are vibrant and full of color can create a more welcomed appeal. One major factor that will add to the preference of your possible buyer.
Keep in mind that as you vary your landscape to be wary of unwanted pets such as ants or worse, termites. As you prepare a mulched flower bed, make sure you include a concrete barrier of some form to assist guarding against potential infestation. Along with things like appropriate barriers, location and types of shrubbery or trees need to be considered. A tree or bush, such as the willow, will seek out the most plentiful water source available, thus putting them near a septic system or sewer line would inhibit the proper function of the line, and cause problems. Today most buyers are internet savvy so looking up things of this nature would become a factor in the choice of purchase.
Maintenance of your property outside is as important as the inside. Healthy plants, trees and bushes are a reflection on what you may be doing to maintain the home itself. Keep tree limbs pruned, weeds controlled, and grass mowed on a regular basis. By doing this you will reduce the possibility of an insect or rodent infestation. Additionally you will contribute to a much higher price for your home.
If you are preparing to sell your home you may want to look at the e-book Instant Landscaping Ideas to find some simple tips, and designs to improving your complete curb appeal.
A potential buyer is influenced by both the landscaping of the outside as they are by the actual building. Some basic landscaping can raise your market value more than 10 percent. As the seasons change, and spring moves in the market improves along with the weather. As a seller it is vital that you evaluate your landscaping selections. Simple changes such as a variety of floral beds that are vibrant and full of color can create a more welcomed appeal. One major factor that will add to the preference of your possible buyer.
Keep in mind that as you vary your landscape to be wary of unwanted pets such as ants or worse, termites. As you prepare a mulched flower bed, make sure you include a concrete barrier of some form to assist guarding against potential infestation. Along with things like appropriate barriers, location and types of shrubbery or trees need to be considered. A tree or bush, such as the willow, will seek out the most plentiful water source available, thus putting them near a septic system or sewer line would inhibit the proper function of the line, and cause problems. Today most buyers are internet savvy so looking up things of this nature would become a factor in the choice of purchase.
Maintenance of your property outside is as important as the inside. Healthy plants, trees and bushes are a reflection on what you may be doing to maintain the home itself. Keep tree limbs pruned, weeds controlled, and grass mowed on a regular basis. By doing this you will reduce the possibility of an insect or rodent infestation. Additionally you will contribute to a much higher price for your home.
If you are preparing to sell your home you may want to look at the e-book Instant Landscaping Ideas to find some simple tips, and designs to improving your complete curb appeal.
Friday, March 21, 2008
Real Estate For All
Everyone has a dream. For most that dream includes owning their own home or property at some point in their future. Here you will find tricks, tips and information regarding every aspect of real estate ownership, purchase, as well as maintenance.
There are so many areas involved with real estate, and it will be the endeavor of this blog to familiarize you with as many of them as possible, and hopefully educate you on some of the intracity. This is an industry that intimidates the vast majority of people, and due to this there are many classes both live and online to familiarize you with the products and options. We will review these and break them into simple resources for you.
If you feel we need to cover something else, post a suggestion and I promise to begin researching it.
There are so many areas involved with real estate, and it will be the endeavor of this blog to familiarize you with as many of them as possible, and hopefully educate you on some of the intracity. This is an industry that intimidates the vast majority of people, and due to this there are many classes both live and online to familiarize you with the products and options. We will review these and break them into simple resources for you.
If you feel we need to cover something else, post a suggestion and I promise to begin researching it.
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