Marc's Mortgage Matter's

Let me set the record straight: I did not receive a preferential loan from Countrywide. (Or any loan, for that matter!) Regulators are investigating allegations that some members of Congress received special mortgage rates from CW after word has leaked out about other “special loans”. It is rumored that senators Christopher Dodd and Kent Conrad (D-N.D.), among others, received lower interest rates on their mortgages because they were friends with Countrywide CEO Angelo Mozilo. Dodd and Conrad have denied that they knew they were receiving any preferential treatment, and Conrad has already agreed to donate the $10,700 in savings from his lower interest rate. LOL I hope they did not get one of those derelict Option Arm or they're really screwed!

Going into July 4th weekend soon has me wondering how much tougher it will get to underwrite some of these loans we see daily. Lenders keep revising their guidelines tighter which is not good news. Those buying a home or refinancing this summer should have contacted me by now for the inside beef and tips on what needs to be done for a smooth landing ;)

Jay Leno mentioned that, “Barack Obama took some time out from campaigning recently to go on a date with his wife. And when Hillary Clinton heard about that, she said to Bill, “Why can't you do something like that?”  So Bill asked Obama’s wife out on a date.”