AboutJim Root Expertise Real Estate Financing of all types/styles--Government & Quasi-Governmental loan such as FHA & VA; Conventional "Fannie Mae" & "Freddie Mac"-backed Mortgages & all sorts of "Creative Financing" techniques! Credit Underwriting & Property Value & Condition Requirements of standard Home Loan Programs. Purchase Money Mortgages or Refinancing! Gale, shown with me here, has been a licensed Real Estate Agent & Office Administrator & my Research Assistant over the years!
Experience Over 30 years as a "Real Estate Professional," including Real Estate Marketing & Sales, Mortgage Banking & Residential Appraisal businesses.Past certifications as a Mortgage Co. Manager, Underwriter, Staff Review Appraiser, Compliance Inspector & Loan Officer with a nationally known Mortgage Company. 12 of the 30 plus years of experience was with the Dept. of Housing & Urban Development (HUD) as a Homeownership Program Officer, trained & proficient in all aspects of the Real Estate Sales,Appraisal, Inspection & Financing areas.
Organizations Former Member of Nat'l Ass'n of Realtors (NAR)& Mortgage Bankers Ass'n of America.(MBAA) Currently with National Ass'n of Review Appraisers & Mortgage Underwriters.(NARA/MU)
Publications Published in local, regional & national Real Estate industry magazines & newsletter on various Real Estate-related topics.Co-authored numerous Goevernment Manuals, Handbooks & Panphlets on Home Mortgage Programs while with HUD/FHA.
Education/Credentials Associate Degree with emphasis in Real Estate Studies plus:
Over 20 "Special Courses" relating to Real Estate, including Financing, while in Private Sector & with HUD's FHA Homeownership Division.
Bachelors Degree in Mass Communications &
Masters Degree in Education/Teaching.
Awards and Honors Professional Designations include: Certified Resiential Originator (CRO) with MBAA,Registered Mortgage Underwriter (RMU)& Certified Review Appraiser(CRA) with NARA/MU. Past awards include Outstanding Performance Awards for 10 of the 12 years with HUD/FHA & numerous
Real Estate Sales,Appraisal Reporting & Mortgage Loan Origination
awards while in "private practice"
Past/Present Clients Currently Director of a Company that provides Professional Development Seminars & Workshops to Real Estate Agents, Appraisers & Mortgage Lenders & both free(as needed) & fee-paid (sliding scale)consulting & inspection services to the general public.This "Expert" is a "Disinterested Third Party" who will not try to sell you Real Estate, nor Appraise or Inspect your Home, nor attempt to put you into a Mortgage Loan--all questions will be answered with your best interests in mind!
Question I heard that if I refinance my home through a lawyer, I will get a lower interest rate on my mortgage. Is it possible?
Answer
Hey BAO--
Refinance through an Attorney & get a lower interest rate on the Mortgage? Where did you get that idea?
Mortgages are TRADITIONALLY done by Banks, Credit Unions,and/or Mortgage Companies! Their interest rates are pretty much all the same, and currently running at from 4 to 5%--lower than they've been in almost 50 years!
Over the past few years, with the problems in the National Economy,Stock Market and Bond Sales, a NON-TRADITIONAL source of PURCHASE MONEY and REFINANCE FUNDING has become another way to get Real Estate-backed financing.
It's called PEER-TO-PEER LENDING. Folks with "BIG MONEY" available to them (IE.Doctors, Lawyers, Corporate Executives,ETC)are pulling their money OUT of Stocks & Bonds & lending money to folks who put up their Homes as Collateral. Interest rates on these "Peer Loans" are NEGOTIABLE! GOOGLE "Peer-to-Peer Lenders" on the Internet to find out more about this Non-traditional way to get funds to purchase a home or to refinance one!
Maybe whoever told you about refinancing through a Lawyer & getting a low interest rate was referring to a specific Attorney who does Peer-to-Peer Lending! Lawyers, in general, DON'T make Mortgage Loans, while SOME may also be Licensed Realtor(c) and/or Mortgage Brokers, or actually OWN a Company that does Real Estate Sales and/or Financing.
About Real Estate Home Mortgages
This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here
