Another Client Shares Her Experience With the Stuart Epstein Team

We are always so humbled when notes like these come in...

"We personally wanted to write a letter to show how much appreciation we have for Stuart, and the team he has working for him. Stuart, Jen, and Bob have been nothing but wonderful to deal with. It was almost as if this was their own property they were purchasing and did everything possible to get it done for me. I strongly feel that if I would have dealt with another company that I would not have received the same service. Each and every one of them took personal time to make sure my loan happened. I never once felt that I was bothering them. Every question I had was answered right away. I know I emailed Jen 50 times and every time she answered me and was very pleasant to work with.  There is no doubt that anytime I have a potential customer I will refer them to this wonderful group of people. I can’t thank them enough for everything they did for me. Thank you so much!

Sincerely,

Ashley "

Refinance/Purchase Opportunities Could Outshine Black Friday Deals

There seems to be an emerging emphasis on shopping that has taken the activity to new extremes, almost giving it the feel of a competition. People are constantly attempting to showcase their knack for the biggest and best sales. Never is this more evident than the phenomenon that has become of Black Friday and Cyber Monday.

However, a new study has emerged that suggests this new generation of extreme shoppers don’t apply the same diehard tactics to everything they buy. The people who camp outside in front of shops for days, vulture coupons as if they were winning lotto tickets, and self-induce carpool tunnel syndrome scavenging the web, apparently may be the same people being referred to as the least savvy homebuyers.

A recent poll taken of Black Friday and Cyber Monday shoppers reported that nine out of every ten people cited the appeal of competitive specials and sales as reason for partaking. That same figure of people reported to have compared similar products between brands and stores for pricing prior to purchasing an item. It also suggested that an overwhelming majority of shoppers who turned out for the deals were low to medium income earners.

These people may do staggeringly less research and comparison prior to purchasing a
home.

This poll comes on the heels of an unrelated report on mortgage purchasing by Fannie Mae Chief Economist Doug Duncan, who reported that fewer people shop around prior to obtaining a mortgage and it typically costs them thousands of dollars in closing costs and interest rates.

"Homeowners who don't obtain multiple mortgage offers or carefully compare rates are essentially leaving money on the table, particularly given today's unprecedentedly low interest rates," said Duncan. "Although a home purchase is the largest financial obligation most people will ever make, many borrowers do not fully understand their mortgage products and costs. As a result, some homeowners in this position may find themselves with unsustainable payments down the road."
The report compared the due diligence between classes of income earners, and revealed that low to medium income earners performed 20% less research prior to obtaining a mortgage than medium to high income earners. An additional 43% of the lower income earners also reported not understanding their mortgage rate. Another 10% of the lower income earners reported paying more than expected in closing costs than higher income earners.

While mortgage rates and contracts are naturally more complicated than television discounts and buy-one-get-one sales, they can be easily explained by professionals probably in less time than it takes to wait in the lines at the mall during Black Friday sales.

The deals afforded by current record low mortgage rates are also enough to have even the stiffest of extreme shoppers excited. So the next time you plan on camping out overnight in front of the local Best Buy, maybe consider taking the opportunity to call a few local mortgage professionals and ask about current refinance and purchasing opportunities while you wait. You just may find that you’ve been missing out on deals that will save you way more than Black Friday ever could.

A Client Shares His Experience With the Stuart Epstein Team

My experience with Carrollton Bank regarding my mortgage was more than just professional; it was exceptional. I have worked with larger financial institutions in the past with mortgage products, and you feel like a number in a queue rarely speaking with the same person twice. I even had a lender tried to rip me off. My experience with Stuart, Jen and Robert could not have been more different.

I was to close on my house by the end of June, and things fell through with the lender I was working with over a paperwork discrepancy. In a near panic that resulted in coffee being spilled on several of my documents when I arrived on their doorstep, Stuart and Jen took me in, and calmed me down. I explained the situation, and they assured me that things were doable. There may have even been ice cream cake, although I am not sure if that was for all new customers or if I was just at the right place at the right time! Once I was under their care things moved quickly, and they did what was needed to get the loan through under a very tight schedule in a very busy time period.

I cannot thank them enough for what they were able to do for me and in the time frame in which they did it. My new house was only possible because of their team, and I will certainly work with them in the future.

Thanks guys!
Matt Folley

Newest CDA Programs!

For June Homeownership Month:

• The Save-A-Home Loan Program (formerly the Homeward Bound Program) is offering reduced interest rates for short sales and non-DHCD-owned foreclosures for reservations made on or after 10:00 a.m. on May 31, 2012 through June 30, 2012.

In Non-Targeted Areas:
o The interest rate will be .75% below the regular Maryland Mortgage Program (MMP) non-targeted interest rate, with a floor of 3.25% (APR 4.082%).

In Targeted Areas:
o The interest rate will be 2.875% (APR 3.675%).

• $30 Million Targeted Areas Initiative:

o Interest rate of 2.875% (APR 3.675%)
o Effective for loans reserved on or after 10:00 a.m. on May 31, 2012 and continuing until the allocated funds have been expended.
o Additional incentives and resources offered by the following partners can be combined with MMP loans and benefits to maximize savings for homebuyers in Baltimore City. The partnership of State and City allows for the best homeownership initiative and lowest interest rates in the history of the Maryland Mortgage Program (MMP).
>> Baltimore City Housing Authority has a Vacants-to-Value initiative, which can include significant downpayment assistance. Click here to go to the Baltimore City website for more information.
Healthy Neighborhoods, Inc. (HNI) helps strong but undervalued neighborhoods increase home values, market their communities, create high standards for property improvement and build strong connections among neighbors. HNI offers two major home buying programs.
>> The Healthy Neighborhoods Loan Program offers low-interest loans to acquire/rehab, refinance/rehab, or make home improvements to residential property. Incentives include a 3% down payment, loan amounts up to 110% of after-rehab value, no private mortgage insurance, and free design advice.
>> The Neighborhood Stabilization Program offers:

1) $6,000 in closing cost assistance when purchasing a home that is fully renovated by an approved developer partners; and
2) $25,000 to purchase a foreclosed, abandoned or short-sale property in a targeted neighborhood.

More information on Healthy Neighborhoods, Inc., can be found on www.healthyneighborhoods.org.
Live Baltimore is the most comprehensive organization focused on Baltimore City Living. It aims to market the City of Baltimore as a great place to live and grow the city's population. Live Baltimore offers numerous education and marketing outreach to the public and details can be found on the organization’s website, www.livebaltimore.com .

You do not need to be a first-time homebuyer to purchase in Targeted Areas.
DON’T FORGET OUR DOWNPAYMENT AND SETTLEMENT EXPENSE PROGRAM! For more information, contact us. Partner Match Programs can qualify for these incentives, too!