Monday, December 19, 2011

Rates & "The Obama Loan"

So the news Media has been Harping on two subjects lately regarding the mortgage industry, I figured i would really quickly touch on both of them.

First, Rates. Rates again are pushing all time lows in the 3's and APR's in the high 3's or low 4's. Now truly is a great time to buy or refinance.

I recently refinanced a client who had a 30 year fixed rate of 6.25%. We refinanced them to a 15 year loan and there payment only changed by $6 per month.

If you know anyone who is thinking about buying or refinancing, please have the give me a call. Greg Novak 386-846-6686



Second, "THE Obama Loan." I have received a number of calls from people seeking information on the new "Obama Loan". I figured a lot of people are probably curious about the loan and what the actual facts of what the program entail.

1st - Lets get my political opinion's out of the way. The Media hype and spin Washington has put on this loan is not a whole lot more than campaign efforts to help with their re-election. Once again, Washington has failed to come up with a program to help the people who need it the most.

2nd - Facts about this loan. It already Exists. The actual name of this loan is HARP 2.0. It's predecessor and current sister loan HARP 1.0 has been out and in the tool belt of the mortgage industry for over 2 years now.

3rd - Facts about the current program. The HARP loan was designed for people who currently are able to make their mortgage payments and have not had any late payments in the last 12 months. The applicant for HARP must be able to prove income, assets, and credit worthiness. Qualifying for a HARP loan is basically the same as qualifying for a standard fannie mae mortgage refinance, with one exception, the Loan to Value. HARP currently allows you to refinance your current 1st Mortgage as long as your total combined Loan to Values, including all subordinated loans does not exceed 125% of the appraised value. You can not combine first and second mortgages together. The second mortgage must be willing to re-subordinate and the total can not exceed the 125% loan to value.

4th - The Change. HARP 2.0, "The Obama Loan" only changes one thing, and that is the loan to value restriction. HARP 2.0 is supposed to remove restrictions on loan to value allowing home owners to refinance their home regardless of what they owe on it vs how much it is worth. You still can not combine firsts and second mortgages, and contrary to what seems to be a popular belief, the government is not going to reduce your loan balance down to what the appraised value is.

5th - The bad news. The bad news is that although this mortgage was supposed to take effect in the beginning of November, Fannie Mae has announced that they will not be adjusting their underwriting systems to the new program until at the earliest March 2012. Therefore, lenders will be unable to sell loans based on the new guidelines and will not be offering them until that time. Additionally, current speculation is that no lender is actually going to allow unlimited Loan to Value. It is expected that the current 125% max will increase, but lenders will impose their own overlay's based on their own desired risk tolerances for LTV.

6th - The Good News. The good news is that, as I stated before, this loan already exists. You can have all of the benefits of this new great super loan right now with one exception, and that is the max 125% loan to value. So if you think that you may benefit from this loan and you owe less that 125% of what your home is worth, give us a call. Greg Novak 386-846-6686

Here are a few links to some news articles regarding the Updated HARP 2.0.

HARP 2.0 – The New Mortgage Plan http://smartmortgageadvice.com/?p=942

Sizing Up HARP 2.0 http://www.smartmoney.com/spend/real-estate/sizing-up-harp-20-1322685479452/

HARP 2.0 rules, and who will benefit http://www.marketwatch.com/story/harp-20-rules-and-who-will-benefit-2011-11-18

The Official Website Home Affordable Refinance Program (HARP) http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx

It's a Good Life!!!

Greg Novak MBA

NMLS # 329079

Vice President / Partner

American Mortgage

Cell - 386-846-6686

Office - 386-756-8228

Fax - 386-756-8108

Website - http://www.americanmortgagenow.com/

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Wednesday, September 7, 2011

Do you Have It????

What is it? Most people would consider IT to be success. But Success is a relative term, it means different things to different people.

Good Morning,
This week I have decided to take a break from the market updates and mortgage info to discuss a personal growth topic. I will take a moment to define success and then discuss some key characteristics of the Successful Person.
It's a Good Life!!! Greg Novak, American Mortgage, 386-846-6686

IT = SUCCESS ???

First let's define success. Wikipedia defines success as the following: "Success might mean, but is not limited to: a level of social status, achievement of an object/goal, or the opposite of failure."

First of all, I personally disagree with success being defined as a level of social status, because in my opinion social status has nothing what so ever to do with success. Some of Hollywood's most social elite, might have a ton of money, but are far from what I would consider to be successful. Case in point the "WINNING" train wreck Charlie Sheen. He might have tiger blood, but success he has not.

The only one of those statements I can go along with is the achievement of an object or goal. Additionally, I don't believe that success is static, I believe that success is is constantly changing for each individual person. My definition of success was very different 10 years ago, from what it is today, and I am certain it will be different 10 years from now. Perhaps even 1 year from now.

THAT is how you can determine whether or not you are Successful, If your definition of success is constantly changing and advancing because you have reached what you used to believe was Success.

Success is Relative, so lets take a quick look at some different individuals views of success.

  • To the new graduate success could mean getting a decent job in this economy.

  • To the addict, success could be staying sober for a month, a year, a decade, etc.

  • To the lonely person, success could be finding a friend and companion, or love.

  • To the couple struggling with infertility, success could mean a healthy baby.

  • To the rich billionaire, success might mean giving away his fortune.

  • To a lot of people, success is constantly moving forward in a positive direction.


 

Here are some Characteristics of Successful people.

  1. Highly Self Motivated- People who have achieved personal success are motivated by what that success means to them and it their drive to achieve.

  2. Strong Ethics and Integrity- Although success means different things to different people, I believe that no matter who you are, you will never be truly successful unless you have a clear conscience. That is why acting with Ethics and Integrity in everything you do is so important.

  3. Willingness to FAIL- Success is not always about winning. Success is about learning. Some of the best life lessons I have learned have come from Failed attempts at Success.

  4. Have Goals and a Plan- People typically don't stumble upon success. You have to decide what you want (Make a Goal), then break down the steps of what you have to do to accomplish that goal. Have a roadmap for success.

  5. Great Salesperson - Successful people have to be great salespeople not because they are selling things to other people, but because you have to constantly be selling yourself on the fact that YOU CAN. You can succeed.


It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Vice President / Partner
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - www.AmericanMortgageNow.com

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Friday, August 5, 2011

Perseverance

This morning I was speaking with someone who was complimenting me on my perseverance and how impressed he was that we have been able to do so well over the last few years with what the real estate and mortgage industries have gone through. I thought it would be nice to share some encouraging words and information with you as well. Below is a really great paragraph on perseverance along with a few video links to a short interview with someone on the 60 minutes TV program.

PERSEVERANCE

Perseverance is a month by month, week by week, day to day, and for some, even an hour by hour decision not to give up. Wikipedia defines Perserverance as a persistent determination; to adhere to a course of action; and persistence.

In the videos below, the interviewer asked the subject if he feels as if he has a disability. The subject of the interview states that "The definition of disability is something that is stopping you from being able to do something. In my life there is hardly anything that I have found that I can not do."

The individual who is the subject of the interview is Nick Vujicic. Nick was born with out arms and with out legs. Nick is an amazing individual and has preserved through some of the most difficult trials and lowest times that anyone could imagine. Nick is 28 years old and has a college degree, and has been extremely successful as an entrepreneur. Even though Nick may be what most consider as physically disabled, he is in no way a disabled person. To me Nick is the definition of Perseverance.

I highly encourage you to take a look at the video's below, and then ask yourself the following question. Even though, I am not physically or mentally disabled, or even if you are, Is there something that I have given into, that is holding me back, that I am using as an excuse, and that I am not persevering past?

If there is something that is holding you back from reaching your goals, making the money that you want to make, getting the job you want, or that promotion, etc., once you identify it, you can start to overcome and push past it.

Have a great weekend, enjoy the videos.

Nick Vujicic - 60 Min Interview - Part 1 -

Nick Vujicic - 60 Min Interview - Part 2 -

Nick Vujicic - Robert Schuller interview -

It's a Good Life!!!

Greg Novak MBA

NMLS# 329079

Vice President / Partner

American Mortgage

Cell - 386-846-6686

Office - 386-756-8228

Website - www.AmericanMortgageNow.com

 

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

 

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

 

Friday, April 22, 2011

Great Day, ALL DAY

Do you ever wake up on the wrong side of the bed? Believe it or not, I don't always wake up the bright and shining, smiling face you see during the day. For my weekly Blog, I put together a list of 10 easy things you can do to Make today a Better Day. Take a look at the list below, and a couple links to some inspirational video's below that.
Don't forget, if you happen to know anyone who is talking about buying or refinancing a home, please give me a call. I will take good care of them for you. 386-846-6686. Greg Novak
www.AmericanMortgageNow.com

10 Steps to have a Great Day, ALL DAY!!!

  1. Wake up a few minutes earlier - Rather than waking up with just enough time to run out of the house 5 min late, set your alarm clock 15 min earlier, and take your time getting ready. This way you won't forget the deodorant.

  2. Talk to yourself - The first thing you should say to yourself when you wake up is, "Today is going to be a great day". After you say this enough times you will start to believe it, and until you do, at least you will make yourself laugh.

  3. Get inspired and Resolve to have a positive attitude - Purchase some motivational cd's or music. Instead of watching the negative morning news, play these CD's and get some inspiration and a positive attitude for the day. Click Here for the link to my Blog on Being Positive.

  4. Eat a Healthy Breakfast - Fruits, Protein, and Whole grains will give you a good kick start and the energy you need to go until lunch. Then eat healthy the rest of the day. Treat yourself every once in a while, but those fried foods and burgers will weigh you down and make you sluggish putting the slow down on your express pass to a great day. Eat a health Breakfast Link

  5. Think Before you Say and Do - It is hard to take back negative words and actions. It's hard to have a great day when you are feeling bad about something you said.

  6. Practice Good Time Management - Have a plan for the day, stick to it. Don't be distracted by things that will not help you reach your daily goals like the social media's, TV, and websites that don't apply to your work.

  7. Don't be so Serious - Part of having a great day includes having some fun. Make sure you schedule some time to enjoy yourself. Try to spend time with people who are fun and make you laugh. Laughter releases endorphins and neurotransmitters that have pain-relieving properties, and make you feel good. You can help but laugh at this video.

  8. Make someone's Day - Complimenting someone else, being kind, and courteous to others will help them have a good day. When you make someone else feel good about them self, you will make yourself feel good about you.

  9. Avoid the negative people - You know the ones in the office that are ALWAYS complaining about something. Stay away, don't get sucked into their negativity. It's like a negative person has super powers when it comes to destroying the foundation of your great day.

  10. Prepare for tomorrow and Go to Bed Early - As an old Boy Scout, the motto Be Prepared has always stuck with me. One of the best peices of advice I can give you about having a good day tomorrow, is to plan and prepare tonight for tomorrow. Make lunches for the kids tonight, lay out and Iron your clothes tonight, pack up your brief case tonight. When you do these things at night instead of the morning, then you dont have to worry as much when you can't accomplish #1 on this list.


Here are a couple of video's to check out.
What to Say when you talk to yourself
Why you should eat breakfast
How to be more productive

It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Vice President / Partner
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - www.AmericanMortgageNow.com

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Monday, March 28, 2011

Press Release

    American Mortgage Loan Services, LLC., an Altamonte Springs, FL base mortgage broker is expanding into Volusia County.  In a time when most banks and lenders are downsizing or closing, American Mortgage as a broker is doing very well and expanding.  Local loan officer, and former branch manager for Eagle Nationwide Mortgage Company, has Joined American Mortgage as Vice President and Partner, to develop and cultivate the Volusia County Market.  Novak has been in the mortgage business for 10 years, has a Bachelors Degree in Finance and Marketing, and a Masters Degree in Business. 

    I am very excited about the opportunity to develop a presence and a Brand for American Mortgage in this area and we are currently hiring experienced, professional Loan Officers.

    With the major changes to the mortgage industry that are set to take effect April 1st, I believe that the Mortgage Broker is going to have a huge advantage over a Bank or Lender.  Consumers are going to have more options and ultimately will obtain a better deal and loan that fits their needs from us.

Contact Greg Novak anytime to apply for a Mortgage, or Employment if you are approved with the NMLS. 

386-846-6686  Visit us on the web at www.AmericanMortgageNow.Com


 

 

It's a Good Life!!!

Greg Novak MBA

NMLS # 329079

Vice President / Partner

American Mortgage

Cell - 386-846-6686

Office - 386-756-8228

Fax - 386-756-8108

Website - www.AmericanMortgageNow.com

 

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

 

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Monday, March 14, 2011

Be Positive Today

Good Morning,

My last few blogs have been all about business, so today I decided to pass along a little personal growth info.
I don’t know about you, but it seems to be getting more and more difficult to keep a positive attitude with all of the negative news and the struggling economy.
So, I decided to send you some good news. Below are several links to some positive stories that hit the news papers. (yes, believe it or not, I was actually able to find some) Also, below are a few tips to help you keep control and maintain a positive outlook.
As always, please keep me in mind for any one you know who needs to buy or refinance a home. Greg Novak (386) 846-6686 www.AmericanMortgageNow.com

Stay Positive Today

Step 1- Avoid watching the news in the morning. If you want to know that weather, just check weather.com, if you want to check the traffic you can do that online also.

Step 2- Write some positive affirmations and tape them to your bathroom mirror so the first thing you see in the morning will help you get started on the right foot. (For instance: Today is going to be a great day. Or, I am having my best year ever, and things that are specific to you, etc.)

Step 3- Sleep!!! Make sure you get enough sleep. Let’s face it, your grumpy when you are tired.

Step 4- Eat Healthier. Make a decision to eat healthier foods. This one has been a struggle for me, but I do my best. And, I feel a lot better about myself when I eat a turkey sandwich and an apple, than when I have a Big Mac and Fries for lunch.

Step 5- Avoid the negative people. You know the ones in the office that are ALWAYS complaining about something. Stay away, don't get sucked into their negativity.

Step 6- Lastly, remember there is a difference between successful people and unsuccessful people, and across the board successful people look at change and adversity as OPPORTUNITY. Unsuccessful people assume all change and adversity will be negative. Whether the change or adversity is negative or positive you must believe that in the long run you will benefit and learn something. It is an opportunity!


Here are some links to some recent news that you may have missed because it was buried underneath the “stuff that sells” the paper.


The Happiest Carreers in America

Making Money & Doing Good

Homeless man finds $1,400 and returns it to the owner.

Teacher for America = $100,000,000

Marriage on the run


It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Assistant Vice President
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - www.AmericanMortgageNow.com

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA-American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Friday, March 4, 2011

Realtors, Don't Miss Out!!!

Have you ever walked away from a home with a buyer because it needed repairs?
Do you have a listing that needs Repairs?

Regardless of how you answered those two questions, you need to be familiar with the FHA 203k Renovation Mortgage.
In today's real estate environment, this mortgage can be a valuable tool.

Below is some basic information about the program and a couple of links to a video blog that give more detailed information as to why having information and educating yourself about this mortgage can benefit you and the clients you work with.

We are experts in closing this loan, and have worked with many 203K borrowers. This loan is not difficult if you know what you are doing, and we know what we are doing.

Don't be afraid to show a client a good home that needs a little repair, or one that the listing agent says in the MLS it won't pass FHA. This loan will help that buyer purchase and fix up those homes. Not only is this loan good for your buyers, but it is good for our real estate market in general. With this loan we can get more homes off the market that are hurting our overall values.

If you have a home listed that needs repairs, call me and I can give you 203k fliers to place in the listing so buyers and their realtors who are not aware of this mortgage wont walk away because they don't have the money to fix it up out of pocket even though they like the house.

203k Info Video 1

203k Info Video 2


Program Bullet Points:

· Purchase a Home and Finance the Repairs Needed.
· Only 3.5% down required from Buyer.
· Seller Can pay Closing Costs & Prepaid expenses. (Up to 6% of the Purchase Price)
· Replace an old or damaged roof.
· Replace old or damaged Heat & AC units.
· Purchase & Install New Appliances. (Refrigerator, Stove, Dish Washer, etc.)
· Make repairs to a property in disrepair due to a foreclosure Situation.
· Make upgrades - Update Kitchens and Bathrooms, Replace & Change Flooring, Paint Interior or Exterior, etc…...

Don't Forget!!! I work weekends!!! Call me any time for a pre-qual, or questions.
Have a Great and Profitable Weekend.

It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Assistant Vice President
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - http://www.americanmortgagenow.com/

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

Friday, February 25, 2011

Lift off of American and Discovery

With the launch of one of America’s greatest achievements yesterday, the space shuttle discovery, I thought I would take a moment to give you some interesting facts about the shuttle and introduce you to something as American as apple pie.

American Mortgage is the premier mortgage broker in the state of Florida. After a lot of research and consideration, I am proud to say that I have affiliated myself with this company and look forward to a long partnership with them. For over 25 years American Mortgage has been providing mortgage assistance to Florida communities. We work with our clients to create a desirable mortgage that will best fit their needs and goals. I can provide an affordable Fannie Mae, Freddie Mac, VA, USDA, or FHA mortgage, for a purchase or refinance; we shop lenders to providethe lowest rates available. We also provide the fastest turn times and can close in less than 30 days. As a locally owned mortgage broker, we understand things the big banks don't and realize that only two things matter.

  • First and foremost, that we provide impeccable service and are accountable to every need and request of our mortgage customers.
  • Second, that we make sure our customers receive the lowest possible mortgage interest rate and fee structure that a mortgage company can provide.

Give me a call anytime if you or someone you know is buying or refinancing a home; remember I work weekends. Greg Novak 386-846-6686. For more info, check out our website. www.AmericanMortgageNow.com

On to the cool stuff! Here are some interesting Facts about the Space Shuttle Discovery.

NASA's most heavily travelled spacecraft, the shuttle Discovery, has had a storied 27-year career that has broken ground in many ways.

Here are some facts about the shuttle and some of its most memorable moments.

  • First mission, STS-41D, was on August 30, 1984.
  • Has completed 38 missions, and logged more than 5600 trips around Earth.
  • Traveled a total of 230,003,477km so far, will add 7.2 million km on this final trip.
  • Spent 352 days in space until now, for a total of 363 days by the end of this mission.
  • Carried the Hubble space telescope into orbit in April, 1990.
    Has twice been the first shuttle to return to orbit after a major disaster: in 1988 after Challenger exploded in 1986; and again in 2005 after Columbia disintegrated in 2003.
  • Is the oldest shuttle in the three-member fleet, due to the demise of Columbia and Challenger which were older.
  • Was the first shuttle to be piloted by a woman, Eileen Collins in 1995.
  • First shuttle to be commanded by a woman, also Collins, in 1999.
  • Carried the first African-American astronaut spacewalker, Bernard Harris in 1995.
  • Transported first sitting member of Congress in space, senator Jake Garn in 1985.
  • Delivered part of Japan's Kibo laboratory to the ISS in 2008.
  • Was the first shuttle to rendez-vous with the Russian Mir Space Station 1995.
  • Has received 99 upgrades.
  • By the end of this mission, will have transported 180 people in total.


The information about the shuttle was found on Nasa.gov.

Here are a couple of links to videos about the space shuttle and Discovery’s final launch.

http://dsc.discovery.com/videos/when-we-left-earth-the-shuttle.html
http://video.foxnews.com/v/4555653/discoverys-final-liftoff

It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Assistant Vice President
American Mortgage
Cell- 386-846-6686 Office - 386-756-8228
Website - http://www.americanmortgagenow.com/

Oh, by the way,If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Friday, January 21, 2011

Doing The Remarkable

So, we are almost through the first month of the New Year. How are your goals / resolutions coming along?

This week’s blog is designed to help you get on track with you goals for this year and help you get past all of the negativity out there. With the economy the way it is and everything going on in the world, you have to work hard to not get caught up in negative thinking and negative news.

Below is a letter written by the late great Jim Rohn, that I found on http://talentdevelop.com. I hope you enjoy. I also put a you tube link here with a motivational excerpt of Jim Rohn.
“The Day That Turns Your Life Around”
http://www.youtube.com/watch?v=AoW_jAzZKcs&feature=related Really good stuff.

Enjoy, and remember I am never too busy for your mortgage referrals.

Greg Novak 386-846-6686

Doing the Remarkable

by Jim Rohn

When it comes to meeting and conquering the negativity in your life, here is a key question: what can you do, starting today, that will make a difference?

What can you do during economic chaos? What can you do when everything has gone wrong?

What can you do when you've run out of money, when you don't feel well and it's all gone sour?

What can you do?

Let me give you the broad answer first.

You can do the most remarkable things, no matter what happens. People can do incredible things, unbelievable things, despite the most impossible or disastrous circumstances.

Here is why humans can do remarkable things: because they are remarkable.

Humans are different than any other creation.

When a dog starts with weeds, he winds up with weeds. And the reason is because he's a dog.

But that's not true with human beings. Humans can turn weeds into gardens.

Humans can turn nothing into something, pennies into fortune, and disaster into success.

And the reason they can do such remarkable things is because they are remarkable.

Try reaching down inside of yourself; you'll come up with some more of those remarkable human gifts.

They're there, waiting to be discovered and employed.

With those gifts, you can change anything for yourself that you wish to change. And I challenge you to do that because you can change.

If you don't like how something is going for you, change it. If something isn't enough, change it. If something doesn't suit you; change it.

If something doesn't please you, change it.

You don't ever have to be the same after today. If you don't like your present address change it — you're not a tree!

If there is one thing to get excited about, it's your ability to make yourself do the necessary things, to get a desired result, to turn the negative into success.

That's true excitement.

To Your Success,
Jim Rohn

Copyright © 2000 Jim Rohn International. All rights reserved worldwide.
You can visit www.jimrohn.com to review and purchase his motivational material.

Click here for a Jim Rohn Youtube clip.

http://www.youtube.com/watch?v=AoW_jAzZKcs&feature=related


www.MyNationwideLender.com
Daytona Beach Mortgage, FHA, VA, HOMEPATH