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Welcome to house plans with the game. Industry's most knowledgeable residential real estate experts Chris Roberts Jason. Nelson and people -- whether you're buying selling or. We put into your career. It was a call -- 8664. Passengers you do. That's 86644. To 7553.
Good morning as South Carolina. Liable layer with -- a team good morning good morning our morning via Harry. Great. -- talking too much government for not air brought together everybody's. Everybody I've my -- out from the government I'm here to help you. To the tune of 25 billion dollars that he. Pregnant chicks fan right hasn't JD's been steady and pretty hard and there's only about what it. Twelve places. I commend them keep it twelve -- this. Expressing a lot of it lot of unintended consequence is that it's -- places that they haven't had a little enough awareness to come -- everything gets my daddy tell. -- and work -- right thing pay your bills. Well you left out pay everybody else who feels that what you say you're -- right yeah I do and others it it it is truly. Truly amazing 25 billion dollar settlement listen. In November. Nervous people in the polls -- we call that he distortion. I would agree. As well as the extortion the out well it's in it's it's really we're talking for those of you that are licences a real stage and do and -- I. Rocket Rotella about this these huge settlement yesterday or the day before -- though Obama and everybody -- on TV and talk about how wonderful it was that they. We're able to extort 25 billion dollars from the top five. Banks. In the country and how good it was going to be for America. And let's -- coming -- once for it and save the election idea.
What lesson I think is is this is history this it it looks like a Lamborghini to some people right now I guarantee you when this thing flies to congress. Have come out -- other side looked like Sanford and son's truck.
Yeah. Well in this particular case -- you know they're talking about. You know spreading love and then of course the thing I heard right behind it was. There's a second -- banks that they're going after. And I guess in this particular settlement all fifty states except for the state of Oklahoma signed -- it will take -- right. And there's -- people are smarter look aren't as well from what I can figure it seems like the attorney general in New York is the -- drive in the you know I heard as he has been hurting him missing I heard somebody refer to him on NPR as the most powerful. Attorney general in the country in. And he is after him he has -- hunting.
Well it's it's our fault well yes Indian domain is the real her fault for shown on houses and they can't forward it's our fault for put him into the mortgages that. You know. With the fraudulent information that the Clinton administration told us we have to -- for a because everybody is the appraisers fault for praise in the houses for Tupac. It's the attorney's fault for callers in the documents. And not let them read every theory yeah right I mean it's it's it's by fall but the --
But the person the -- that is correct but it and that's the person supposed to be the one. Handling the idea that the transaction and and they're the ones that are the most anxious to get the and so it's kind of interesting when -- back -- it. But what was that. Oh we rent -- already somebody that -- in here winning given out the number -- she gave the number listen if you're mad take your history.
8664147553. Talking about the settlement this morning. Or you can always three just in the up state to three TWO. RD that's 2329673. We do have our first caller today let's go over to Clark episode Clark.
Ultra what you think we we we we you know he got slightly checkbook jumpstart -- I did I doubt in my car in just put a lot of -- Let's somebody put it got your hand that you -- radio station then yeah. No you're already paid more than we -- I.
Can come on you know it is that. This mentality. That they say it's somebody called some bite -- some I don't get --
Wait a minute they were all 21 adults -- I checked -- did have a public school education. And they need your -- to you that you are absolutely right thing you know how long I am sick and bikini.
Well I couldn't agree more today is just beat up somebody -- somebody beat up somebody there's no doubt about it but. You're absolutely right there's a there's a time when you stand up and say this is what I did this is what I signed this is what I did. And they and they just won't do it.
Yeah well -- injury to tip the letter -- from the actual front and tell or respond to -- the world that basically the banks really are seen that much. It's the or one -- people. In all -- don't pay a whole lot of.
Yeah yeah I couldn't agree more Willis and Clark we appreciate you kicking -- off this morning we're -- headed to our first break have a good day. I -- yet Clark makes some excellent points I mean you know there's something about being responsible -- today allegedly got a question -- anything to do with buying and selling of real estate or got a question about alone give a -- this point 866. For 147553. Or you can always reaches 23 TWO. RD that's 2329673. We'll be right back.
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This is health plan. -- Chris Roberts and JD Nelson of county bank mortgage to reach Christopher JD outside the show. Give McAuliffe 86644. Pass GD. That's 86641475534. Email your questions and comments to ask JD at county bank mortgage dot com.
Welcome back South Carolina you listen to you house plans JD Nelson Chris Roberts here from Kenney bank mortgage Keith Clark here at the buyer's broker. We're talking a little real state this morning and below that everything actually Sarah. Whatever you wanna talk about give -- a rain. Two or 32 to be ORT that's 232. 9673. Is the local number in the upstate of course toll free 866. Full four to seventy fat 53866442. -- victory is the toll free number we'd love to hear from him.
And you look at kicked off for the with a lot of complain a lot of complaint in this for a bit. But it we're currently for its. Best Serbian -- I'm positive news about an idea of -- I can't do that. Atlanta. I am definitely positive and and -- it was terribly much more fun to talk to. Listener -- it you did in fact Iran if the if you ask you shall receive when we get Billy on his cell phone. --
Yeah our idea but there are brilliant. Idea to me is sorry. I know he's got done BI LL into. The go ahead and ahead.
Our -- our quick thought here that -- Everybody's -- want to blame the people that -- out well. You know but it -- understand -- my years of experience in real estate. Beat people who built this bridge of ownership. It'd be investment act forced the banks to loan money the equipment -- absolutely -- the bank epic come up with programs. Although note -- well news out these great programs to be able to get. It investigate it reinvestment act so it would get there are other than their shirts. And -- district about their record. Why don't which -- don't -- the brick and OIRA. -- that it was bought by somebody who was just to protect it without. -- an entire column and I am I guess we'll build this bridge but everybody ought. Far right hand salute by the same guy or. 888 built this bridge they're posted there are broad and then it was appropriate to -- people.
And absolutely and the best part about this whole twelve page document look at this new Obama five refinance program that they're talking about guess what. Stating come you know appraisals. -- right back to what got us were rumored to Begin --
What don't want to take out the problem that all. Right it appears financial people -- a bit of both -- and or is there there there are looking -- the well people -- are now on the you have to get their own pocket spoke out tonight so let's take our air. Outburst however -- right problem it we have our but I don't want etc. they have very.
Well I couldn't agree more I mean you know when you turn around him and now foursome in the make in the loans and then turn around and hang on for doing that. It's it's a pretty sad state of -- but you know it's all about getting reelected he doesn't really care about getting loans he had really care about the banks -- cares about me getting elected in getting elected and -- elect -- and error.
Why are we formed part. We are right could start putting out here -- all this problem what. And start up backed off it it took the liberal -- animal covered that's him. Well just like the Arctic Canada right now are out there at all there or are out with it yeah. And that it made you respect you a little Hollywood your general next on. We don't reflect on the cover again we appreciate the call we agree and how are the banks. Absolutely and I'm glad lets go of decreasing -- going occurrence.
Aren't so it was in -- question yeah. My understanding is that 2013. Spell real estate transaction involving it would three point 8% sales tax. That's part of the Obama care. Those -- true.
I heard anything about that you're talking about from a national standpoint are you talking about from a you come out like sales tax. Certain that our sales tax on. Maybe he's referred to the ten basis point. This yeah yeah it was tied to the unemployment yeah -- I have heard about the sales tax for that something good for us to look. Oh yeah I was --
School yet I got a couple emails from some friend of mine that. That that the National Association of Realtors is aware of this. They're trying to do shut -- about it and discuss -- that. I got out there and if that was true -- it -- Taylor is buyer pays.
Let's go to listen to me everything's negotiable. Yeah and the buyer to buyer pays everybody it doesn't matter it didn't matter where it shows up on the hood the buyers blame for the price of the.
Housing and say let's say what you -- Chris is those emails that you got watching for them to ask JD. County bank mortgage Zach Thomas ASK JD at county bank mortgage dot com is spelled out. I'm I'd love just take a look at a minimal there is some research -- sales tax see Steve would -- class and now. I haven't heard anything about that particular. Not mechanism of extortion bit. I would -- straight yeah absolutely thanks for the congress are appreciated that.
I listen if you got a question about buying selling anything to do with the real -- give answering this morning to you 32. 9673. Or you can always -- its toll free 866. 44278553.
Are we got Bambi on the time in the morning how are you I'm fine thanks very ill -- It just started up your show saying there's friend you attack. From the government for all homeowners yes you go to that real quick army.
Yeah absolutely. What that amounts to is when they when they extended the unemployment benefits. They as they often do they'll mix you know oil and water together in the same in the same bill and what they did at that point in time was they inner. Into that an increase of ten basis points. Charge for every loan that's made moving forward. And all that money has to be paid by Fannie and Freddie directly into the treasury. So it doesn't go for any type of home program is basically attacks. On all homeowners of ten basis points and of course it's it's stretched out over the life of the entire loan.
OK so first. For a new -- not for cash buyers.
That's correct just for new loans so if you get along from -- your Freddie. Or FHA moving forward there's a ten basis point. -- Foam that loan is basically a charge to the rate so from a customer standpoint they did a really nice job of hiding and in the rate so that certainly wouldn't see it. But through Fannie Freddie and end -- the edgy and they have to pay the money directly into the treasury. Moving forward and I think that's for the next ten years so while they only extended unemployment benefits I think for nine months. They they put this in the bill for the next ten years. Yes well welcome -- from the government ordered help direct. But -- cortisol about I appreciate the call. I thank you all right thank you which you were just talking about JD is where they're you know they're basically added that tax -- they're basically spreading the wealth by now.
Yes for everybody's getting a new line of -- or purchase either whining any transaction and it says. A ten basis point hit against directly into the treasury shall -- citizens hidden in the rates it's not like the average customer service are really there you know is way up.
I was gonna Jeremy on Zell good morning Jeremy. That it but yeah I do again it was sent. -- that question are Martin Wyatt walker are. Ali or not you know filed bankruptcy. And our credit never rebounded a wee one are out there anything we do it absolutely -- how long ago was of bankruptcies violent. -- I don't mind it happened to you after -- On the rule.
and UNESCO put a broad brush on this but the rule is is it that you -- three years from filing of bankruptcy. In most Croatian Serb. Anytime that you're in nine years out Alexei unity especially if you get any reestablished credit since and you should be in good shape now obviously it's still based on credit scores and things of that nature but. In my experience most of the time a bankruptcy that old. You're probably going to qualify for conventional an FHA financing. Or VA if you're a veteran. And obviously we would be more than glad to take a look in and take a look at your situation and be -- to -- to preapproved if if that's what you wanna do Ben Ali thank. That. You should be in good shape now I -- obviously -- you know you're working get a job you know that kind of things and.
Yeah I'm a truck -- civilized doesn't work our credit -- never rebounded from the bankrupt because. A lawyer but that out and fired her anchor that as well.
Well which I think what I would recommend is to send an email to ask it JD it county bank mortgage dot com in just say a micro set up an appointment and then. Willing to make a phone appointment and do a customized mortgage solution because what we like to say is. It's not really a matter of if it's a matter when he and so. If you can't do that right now we can give -- some steps and some ideas of some things that you can do to get there and the shortest amount of time. Will tell you what the next step -- is. To get into it to homeownership.
Article out of Kent Austin. -- thanks Jimmy and Greg thank I'll be a lot of people called time concerned maybe about a past you know problem are or blip on the radar sellers they can. Yet there's so many opportunities now on the positive side of what we gave. You know one blip in the radar typically does not on this quality by you from on the ownership. And like you say Chris is not a matter of if it's a matter of win and if we can't do it right this minute. You know we can't do it down you know probably.
I think most of us think our credit it's worse than it is in my stance I shall he teach -- your your personal it's all very personal thing. You know really wanna talk about it with anybody mutually your credit is better. Think we think I don't live here yet want to lose his better than years yes I'm.
My my life is better than mine and no -- well let Adelaide just this week. To she's a teacher over Spartanburg and and she came -- she'd been raining for twentysomething years while and was always just kind of steered about -- it was just kind of -- thanks. And you -- Jamie and we sat down we start talking a symbol to me about your credit she's yeah. I don't know if it's on the gators I mean this Israeli -- What's it like a 790 storm is this you know does like it. Almost -- almost par for. We barely make it -- about at a -- point you got married. We can't get a kick out of it but. Yeah you're right -- lot of tasks people think it's worse than it is -- and does she if she were to contract on Friday says she's excited.
It's not uncommon for there to be. -- miscommunication. Or some adverse item on your credit report your it's not that shouldn't be there right that's exactly right you know that. The things that we find a lot of times our own life -- items from a divorce. Now a lot of times folks think we'll let you know -- left over from a divorce where when you when you had your settlement at the end. You know one party took 11 party to the other -- and those things may get good or bad. And a lot of times people think we you know that's really hurting me. Well it does have an impact but it's not overcome mobile because if you have a separation -- divorce agreement that says this the other party's responsibility. Then we can actually pick that out your credit you were when we're looking at qualifying heat. Bomb another thing is. If you're an authorized -- on my card and you're not the one that actually uses the car and you could use it that -- not the one is responsible for -- We can address that situation I mean we see things like that all day long that folks need help we. Pomp and then of course like you say keep that an accurate information we're something's reported it's not supposed to be there. Or better yet something's reported that's been paid years ago a -- just recently had a deal where. You know a judgment should -- title everybody had their hair on fire and and you know we're like this can be a problem call the -- person and -- My ex wife pay debt nine years ago but he just never been released so. A lot of times what we find -- we really dig down into it. Is the issue that they felt they had can be resolved.
And it does take a little bit at times some ten etc. at least so that the key is to get started early yeah you're thinking about I want about her happened six months or a year from now. If you really start analyzing the process early yet you can prevent does little challenges kept during the process here.
And and you know collection state collections can have a negative impact but it doesn't mean she can't overcome those. As long as -- work with somebody that understands how that works in the course that's. Part of the customized mortgage solutions to sit down and give it through -- through that with the customer. Well listen we're headed into our bottom of the hour break. Gonna have thirty minutes left we get back we'd love to hear from you this morning and anything to do is buying selling. Rates -- great. Is is really unbelievable what they affordability looks like. Certainly some opportunities in real estate market we'd love to talk to you about that -- answering this morning and 866. 44278553. Or if you're in the upstate you can always reaches 232 WORD. That's 232. 9673. Boys and give us call we get back we're gonna talk a little bit of more about how to buy a home in this market thanks.
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House Clinton. Brought you by the mortgage experts -- county bank mortgage save thousands of dollars when you re finance. With the county -- cerebral. The -- with no lender fees save money today by calling JD Nelson 86644. As you. That's 86644. To 7553. Hole welcome back South Carolina with in the house plans.
and JD from Canada mortgage and house think Keith Clark from the barge broker not keep on usage wanted to do the last half the show. Purely about rules that -- they got us here they like yeah. -- was just posted his plan what.
Don't look don't necessarily. Does he think we're heading -- and I haven't talked about predictions for you haven't talked about predictions and nothing yet we've we've -- yesterday -- a little bit about yesterday in in your right hand and bomb you know we made a big deal about it last year when when actually our our our prediction was basically the same. Were you one more house mean one less how -- did in the prior year this year I think. Aren't they can maybe two to 3% gain in there from where we were this year in year maybe 34 you might be -- fat percent.
Fact I think we'll. It is -- we are talking too much about a piles them and I need some numbers how safe plus 3%. Plus 3% for euros a year earlier every cent at sixty found that be about. And 6500. Lately.
It's not calculated in the room.
These numbers I got 200 additional units is what you're saying I say 67 under a scoring 6700. Now how -- Sixteen and fifty. I can't 6760. -- to an end and there's going to be up a little bit we're talking state number opponents Christina fifties of the -- It is right now would be 887. Or 8% the and end. Do we have we have on January. We're still we're still waiting on January -- you don't want talk about.
That carries a good idea of what he -- and I know well. Michael has got January up 47 or sit here every year I don't know --
Top. IM Gloria let me ask -- I don't get like I got on the board the board did not publish these numbers yet so they're not -- but I did do it and he. And I -- normal sir before we you and and pay anything right now and again and there were 404 transactions. In January. Compared to the 330 that the pro. And that's nineteen point 2%. That's pretty cute yes yes that's here's what I think uninteresting not so much that increases that the pre I went back to the previous year in 2000 and Ian yeah. There were 360. And it was tax credit counted it wise yeah that's right everybody we're -- only -- we're in the midst of probably the worst part of it don't you think can from a mortgage standpoint absolutely you know that's when things were really crazy. There they're crazy now but they were really crazy thing.
And -- Contra. My dad only an air -- I need to know about crazy it was really great yeah yeah it was passed that would be seeking bliss they increase threat there. Yeah detail I think everybody in his eyes that he -- feeling that you can feeling yes he it and appreciate -- Providence 400 transaction itself -- important --
I have been the easier than usual. I think it's going to be a year of and a demand. That just people that need it announced that it and putting -- carefully years you're gonna see that back in the market. But I don't really anticipating significant -- well to you it fits in -- is that unless that's -- that's pretty well it won't not I can't imagine it being in that fifteen or 20% in January numbers. Yes it was a well listen if you've got a question about buying selling anything to do with the real estate -- of answering this one and 866440. Sort of aircraft carrier now I I'm not on their life and -- wager was -- that -- it but I.
But I think if we should increase the bears just might not RVs and -- I don't really at stake counts per unit rate which again there in a -- are these are being damaged its current and yes -- Dayton. Golf at Dana whoever wants tickets they're and in couch -- and then we'll get RVs in sales in Currie right.
All right so if somebody really wants to buy now. What's the number one thing they should be worried about -- they need to have their money in the briefcase in the truck that got us right that's right absolutely. You know you've gotta you gotta get preapproved you gotta be pre qualified and ready to roll you you have to have. That part of it secured. And and the way to do that from -- perspective is simply shoot an email to ask JD can I make mortgage dot com -- thinking about buying. And and it really doesn't matter if you're thinking about it a year from now. You need to go ahead and pretends -- together yeah. Yeah.
And I think I think when you when we say there. You'd Unita team. Absolutely holes today you can't -- you just have. One person on your team EEU gas -- But you can start to processing create detained in today's market is very complex I think. You know I'm gonna show house today and it we were laughing all that -- that that on that this house will not a price. Well it's interesting situation because you know the way you started the conversation was integrate how it is a good -- and so you can -- you have that feeling. That is is a good how well -- looked it in in embodies in this on email has died but it sure looked for you know I've been in the business twenty years and I generally now look at floor plan a good. A good quality home when I see it even before I go into the home right but I also know the numbers -- well. And so you have to be cognizant that and you have to be aware that price -- fact. The appraiser has become the -- of the real estate transaction. In place of the real sure sure because I mean everything that the financing as a general rule is going to be dependent. A fine you know how would pray and you know the phone should light up when I said that I should hear from at least. Five or six real estate agents who are listening right now sure to say hey. The appraiser is not the -- the real estate transaction the real estate agent is to -- the real estate transaction. But I got it today in today's environment everything revolves around the price absolutely.
Well listen if you got a question about buying selling anything to do with a real estate because -- this morning 866. For 147553. Or if you're in the up state to 32 WORD. That's 2329673. We'd love to hear from you this morning Chris Roberts from counting make mortgage Keith Clark from the buyer's broker. And the house it's JD had to run out and -- basketball coach Nelson had to go out not. Get started but you know the interestingly enough Keith we've seen over the last thirty days. We have seen situations where buyers. To actually which kind of unusual for us where buyers are actually paying more than appraisal. Because they really won't -- house and they and I think they think that it's worth.
More than with a little -- certain circumstances. That may be the right that may be the right pan am sure the -- G. The price it was based on the current value to write the current -- in the neighborhood depending on its availability may or may not reflect. The overall. Condition of the neighborhood or the future path of the neighborhood. So each situation is different and the same time. Even in cash transaction. The appraisal becomes a very very important element of it or at least in my transactions they would say well.
And of course you know what you're trying to to do is to establish the value of the property and -- know. You know before before you even. You know a lot of -- walk into a house you've already taken the time to do -- you refer to as the right price analysis says that you can get a feel for. That neighborhood that market even maybe even down to the street -- with regard to what you think that house is going to be valued -- And you know in in when you go through that -- preparing yourself for that overpriced house the customer loves I would imagine.
Well eight. Yes but not only that right we won't know look at the overall transaction that goals and objectives of the client. May or may not be conducive to making a fair back. May need to make a better back and if that's not achievable based on a variety of circumstances. Then you really don't wanna go down a path that you can't folic.
Absolutely. Well you know win when you're sitting near. You know getting ready to it to do that negotiations owned the property. You know there's so much data out there right now the -- have to look at and the -- you've you've got to have an expert he's at him like he says you really need a team in today's.
Market between a lender. An agent. And as well as an appraiser to make sure that you really have got all of that. -- Well listen can we are headed into our last great for the day. We got a heart break so if you hold through this break we'll pick you up on the back side. We are headed into our laps breaking the day if you got a question about buying selling. Anything to do with the real estate do get on the phone and give us call 866. For four to 75 -- 232. W a RD that 2329673. We'll be right back.
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Houseplants brought to you by the mortgage experts at -- mortgage home of the customized more good solution to the kids to receive your free customized mortgage solutions called JD Nelson at 86644. Ask GB that's 866442. 7553.
All welcome back South Carolina is headed down the backs out of the mountain got about thirteen minutes left in the says. If you've got a question about buying selling anything to do with a real estate would love to hear from this morning. 866447. 550 during. Or you can always reaches 2329673. We appreciate can hold in through the break -- what we do for you this morning.
Pay I don't -- more intense. Fabulous -- a couple of comments one as they are our caller there NR. It -- not well thought some part. Just so that viewers understand what. He's coming out uninsured numbers are slick further blowing so you'd certainly be consideration chicken or whatever a lot for what you're looking at a per square foot basis. Absolutely go. Anyway that being I just wanted to -- thing it's been a little bit the injured children. Respect we check out that form a sale on actually it's gonna reach our own brought up in. On the late Brian and our tax bill went out 6000 dollar a year and -- I -- well lobbied me I was early portion part of the on the subcommittee hearings and -- about. The fairness or unfairness of the point of -- And basically a really good question her part well go ahead and go -- himself -- Uga. 50% but Macs of the counties can actually assess you are reassessed or five years.
for the listeners what -- talking about his point of sale is when you buy a property. Even though it's not time to reassess the value. The -- South Carolina law says whatever you pay for it that's what it's worth today we're gonna -- your tax value. At that number. So it's possible that you in your neighbor could be key and 10101000 dollars difference in taxes because he -- his twenty years ago when you vouchers today.
Right and you and her -- what happened at that point if you get a double whammy because it. Peculiar the 6% ratio because of what firmer -- 4% so people aren't so what I'm. Owner occupied property -- absolutely want to. I guess -- tell you ought not to go as well aware that the state finally did it just that not exactly what I told them for years ago it happened in. The porn -- now restructure -- the 15% maximum. Increasing your property tax.
Yes so the most taking go up now when you do a point of sale transaction is 15%.
Martin went out 700%.
How can that that they yes it's South Carolina association of realtors lobbied. Hard for I would say two and a half years. To try to get pay an adjustment on it and that was that dance that we could.
open it for us. -- earlier shame -- Acosta has additional ball well and also two years or just for you. As far as our laws and -- that you know it's one -- You wonder why people losing their -- you know if the market correction and you get double whacked the taxes that. And the -- Wanamaker common desert during a great job and I appreciate it.
And well we appreciate the column -- Thomas thanks Jim you'd call it. All right well listen let's jump over to marking -- more and more quickly euphoria.
A guy -- love your show ideas on -- fantastic. -- I've heard somebody talking about three can't you know mortgage -- where you can put more money down after this close to him out of all that work.
Yeah well you know what happens a lot of times in today's market is is somebody -- about before they sale. And they have significant equity in the property that the wanna sell. And at that point in time you have a couple of choices. One choice would be to get what's called a bridge loan. Where year you go hadn't taken adequate the equity out of the when you're selling and put it in the new one and of course to some cost involved in them. But then the other option is to -- now. Put a little money down so let's say you go ahead in your about a 300000 dollar house -- wanna get a 300000 dollar mortgage. You go ahead and do that and then you know sometime later you turn around and sell your other house -- they get another 100000 to put I don't. Well and in a recast situation basically you would pay -- 100000 in principle directly to the new lender. Bringing your balance down -- 200000. And then what they would do is they would. The recast refers to they would now take the stream of future payments and base it on the 200000. Instead of on the 300000. So your payment actually would drop in your term you're remaining term with -- and that's where that term recast them for as -- with -- game -- the all -- the remaining balance from the point -- at -- if you had -- a thirty year mortgage. All that. On the 300000 -- six months into it. You would recast the need 200000. That you now over the remaining. -- 929 and a half years. Which would obviously substantially reduce your --
Yeah can you do that did -- get that at one time. Well you do multiple.
As as a general as a general rule it's only done one Tom but it depends on who the investor is and what their rules are. You know six or eight years ago we had multiple investors that we would do business -- that would do it multiple times but that would have minimums where they would say. We have to pay at least X percentage of the ballots to make it worth their while. And they might charge at 350 dollar fee to do it. In today's market it's more common that there were only allowed you to do it warrants. Obviously only on no prepayment penalty blown like Fannie and Freddie do you can make a principal payment -- any point in time. But it you can't recast the future payments. So. It's very investor specific. And then it also depends on how much money you're talking about so. You know what we do now is we asked the customer going into the transaction. Do you and you when you do this are you gonna take this equity and invested elsewhere or are you going to want to apply to the principal. If they -- apply to the principle that we placed along with a particular investor that will allow. Vertical so much and her problem and if you if you need some more information or help format. Afridi shooters and he now even if you didn't get your loan from us will be happy to help you armed -- sending -- Ascot JD. At county bank mortgage dot com will be happy to do a little research for you and help you out. There thank some Gary thanks mark. Little known feature you don't see that a lot here a lot and -- I think -- you know my relationship with you guys started -- you know three era for right and I've not been exposed to it prior to that say it it does come -- and in generally it comes up into situations the one I just described where somebody. Bomb is gonna sell the other house the other situations -- as you just large bonuses. And say they wanna buy in May. But the got I've got a very large bonus company's -- track and you know they they wanna take advantage of that but they don't wanna I don't wanna leverage at nine. And of course you don't have any closing calls to any fees typically there's a small face my C 350 bucks and beat Cuba to depends on the particular investment by placing alone at the beginning. Is the key and it goes back to what you were talking about earlier keep this having that group of professionals that know excellent. I will say this too if you if you have your mortgage loan. With a local bank or entity you know like like county bank we will portfolios of loans if you're doing. If if you want to make your payment where you get Malone if you're doing a fifteen year -- or less. And no you don't wanna ask grows and what will look at portfolio in your loan. And keep your local she can make your payments local there's a lot easier in most cases to do a recast. With a local servicer. Vanity is with a big box. It's just easier to -- house I thought I imagine that -- you know so if you get your mortgage. You know if you if you do mortgage or carry bank mortgage and county bank -- that servicing it. It's much easier for me to control where the could read about eleven so the -- yet person at a real live person well actually entered a file. We'll -- we'd be remiss if we didn't talk about rates and affordability. The portability and Dexia and affordability index is still at all time highs yes but as it goes up as. The affordability of homes to a but it's not a -- remind our listeners that rates are back at those fifteen year lows and have been hanging out there for the last two weeks. -- you know two to three weeks and I would tell you if you if you have been considering refined. Right now is the right time to do it. And we'd be happy to have you know sit down and look at that four -- you gotta do is call 331 home that's 331466. Marie. And -- would be happy to take a look and and see if it's really right for you. That at this point in time if you generate about five you may wanna consider.
Taking a senior Chris we've been in the minutes as we were talking about predictions this year pitcher. I think you know -- I believe that date June the 23. That's 2011. With the bottom of the mark your third and fourth quarter were I think he's here we'll see some. Reasonable activity nothing gangbusters. But that all plays into the fact that is the economy begins to pick up a little staying. Barring any catastrophic events right it would not be. A surprise if interest rates began to slip -- on the yeah I mean that.
You know the Fed came out a couple always -- and said they expected interest rates to hold at this level for the next eighteen to 24 months. But when they talk about that they're talking about within -- a 1% ran ran that day and when you're looking at thirty year fixed rates below 4%. You know you certainly won't wouldn't wanna pay five when you could pay for war. And say you know we think now is an excellent opportunity beginning and -- and we have talked to some folks that are playing in you know north of six. And you know if you've got a 200000 dollar mortgage in your pain in north of six right now you know we see people that are save in 567800. Dollars a month. And then the other thing we see is folks cutting term. No better way to build equity in your property. Stand to take the term of that loan and cut it I don't and you really get more bang for your vote. That's what I -- in the purchase market he is that people are considering. When they're defining their goals and objectives are actually including the fifteen year mortgages part of that discussion via oil because you're talking about rates in the batteries. And and when you start I mean you really can bang that principle while. And of course you know you're building that equity for the future. Canceling and says you know if you're interested in that we'd love to hear from you can always -- an email -- ask. Or give us a ring at 331 home. What keeps them good luck on showing that yeah I guess house today I tell -- the appraisal. Is going to be a key piece to every transaction moving forward this year and and the advice I would give our listeners as you know what it's worth before you offer the door and -- right price analysis before you make an offer on after your right. Yeah absolutely before and it. You need help us get a referral to a realtor if you think you're rich getting going out looking. And he just don't know who to ask or talk to you can always call us will be happy to give you referral folks that -- work within the past. -- so we felt like would be a really good job part of that professional things. To help you out well listen you guys have a great weekend another good show and will be back next week in the meantime if you need to ask a question -- got a comment you can always you can see the mouth to ask JD at county bank's mortgage dot com. We'd love to hear from you. And now. Have a good --
