Indiana mortgage company update

Hey, I know over 1,000 readers a day come here for mortgage and real estate information, and thanks for taking the time. I am personally spending a lot of my time working with home buyers in Northwest Indiana who are looking for a purchasing homes. Yes, I still do private small business consulting and even home building ... but the greater part of my efforts are focused right now on helping people with their mortgages, purchase and refinance. Give me a call, I'd love to help you.

Northwest Indiana Mortgages

For those looking for our website, please check it out First Financial Trust Mortgage.

For home mortgage loans in Indiana we focus on FHA mortgages and first time buyers.

As always call me at 219-762-7200 or email me at Northwest Indiana Mortgage Steve

Valparaiso Mansion for sale - the rest of the story

It is unfortunate that news media, newspapers included, get so little of a story these days. So many newspaper writers want to write a brilliant piece, only to get waylaid by the desire to scare or give half the story because it sounds better. Case in point:

The story today in the Post Tribune about the unbelievable home in Pepper Creek in Valparaiso Indiana that is now for sale, finally. Here's the truth that wasn't quite reported:

• The home was started and mostly completed by Signature Construction as a home for the owner of the company. That company, like many others in the last two years, was beset with problems emanating from the sub-prime mortgage mess. When buyers can't get loans, or mortgage companies go out of business, homes that were pre-sold immediately become specs. Banks don't like specs.
• As I've mentioned on many sites before this post, the problem is not in home builders taking risks, or being fraudulent for the most part. The problem in the last two years was Federal bank regulators coming down on banks and telling them "stop all spec construction, get out of home lending" Once this edict went down in 2007, the home building spiral was in full death dive.
• The home is now finally for sale, and I will agree with the agent that in a normal market would sell for roughly $6 million. Here I will have to guess, since it now appears the home has been sold to an investor, the bank must have acquired it through foreclosure to eliminate the liens. But remember that the only reason there were liens in the first place is because the bank wouldn't pay the subs that were owed money. All too often the builder gets blamed for not paying the subs, but the subs get paid from the bank's construction loan as items are finished. In this case, following the orders of the federal government, they stopped construction and used foreclosure process to not have to ever pay those subs.
  

Real Estate in Recovery - Northwest Indiana

Sorry, it has been far too long since I last posted here on our Northwest Indiana Real Estate site. The refinance boom came on us so quickly in lat 2008 that we've been just barely keeping up, and now this terrific news ... Real estate in northwest indiana is in a firm recovery mode.

If you own your home and have been thinking of selling it, perhaps wait a few more months for inventories to reduce. But if you are looking to purchase, I would highly recommend doing so now while rates are in the 5%-5 1/2% range ... they will go up as the government borrows to cover the cost of the Stimulus package.

If you are a first time buyer, email me and we'd be glad to show you the key steps to getting that first mortgage and first home. steved@fftmortgage.com

Easter and a pause in the action

Happy Resurrection Sunday - Easter

Happy Resurrection Sunday - Which we call Easter

Roughly 2,000 years ago Jesus Christ raised himself from the grave, he was all the way dead don't play games with the story in your head, and he overcame that death to show that he/God is dominant over even death.

"Where o death is thy sting ..."

Although we as Christ followers believe in our own mortality and depravity in sin, and our need for a redeemer to pay the penalty of our sins, and therefore the dominant role of the cross in helping us remember the horrible death and sacrifice of Christ

The Resurrection is in many ways more important. All other sacrifices died, the lamb the goat the bird, never to be seen again.

Jesus Christ rose again ... that's a really big deal. Quite possibly the most important event in human history, in 7,000 years, the resurrection of Jesus Christ. A 100% man, who was 100% God (of course we can't understand that tension) died a horrible death and then three days later raised himself from that tomb, rolled away a multiple ton rock, and walked out still bearing the holes in his hands and feet ... the marks of the price he paid on our behalf.

Sorry for this pause in political debate, but it's well worth the pause. If you are offended at this blatant statement, or feel that no one has the right to state "truth" when there are so many different opinions in today's society ... welcome to post modern predictable thought ... you too have been duped by humanities 7,000 year desire to be "my own person" and "not need a god"

Take a deep breath and dare yourself to ask "where do I stand for eternity?"

What's the solution to Gary Indiana?

Doug Ross from the Times Newspaper is engaging readers on their ideas for solutions to the problem that is Gary Indiana. All of us in NW Indiana need to be not only concerned about Gary but interested in a solution, albeit a very long term one. What are your thoughts? What should be done about Gary, to help Gary?

• Should the state step in and take over the City?
• Should Miller be allowed to de-annex?
• Should the airport be taken away from Gary and developed directly by the RDA?
• Should Gary Sanitary be privatized and the proceeds of that sale used to pay off debt?
• What city services should be eliminated to bring the budget into balance with state property tax caps?

I'll cross post in a few areas today, this is a worthy question and serious answers are going to be needed.

Dave Woodson - First Financial Trust Mortgage

If you're looking for a mortgage today in Northwest Indiana, give Dave Woodson a shout at 219-872-8000. For home buyers and refinances in LaPorte, Porter, Lake and St. Joseph counties in Northern and Northwest Indiana.

Northwest Indiana Home Mortgages

Housing Starts Plunge - good news?

Frankly yes, this means that inventories which were already shrinking late last year will continue to contract. Watch for price stabilization in the next 60 days in most markets. What does all this mean? It means that 5% interest rates, low home prices, little chance of renewed over-inventory problems, and increasing rents add up to the most affordable time to buy a home in ... probably ever frankly.

If you are even considering the idea of buying, you are going to miss the bottom by waiting around for CNN or MSNBC to tell you it's time. Call us 219-762-7200 we'd be glad to do a quick pre-qualification and get you out there buying at the bottom of the market.

Marketwatch Story:

Economic Report: Housing starts plunge 17% to record low in January

from MarketWatch.com - Top Stories

The collapse in the housing industry accelerated in January, as construction on new U.S. housing units plunged 16.8% to a seasonally adjusted annual rate of 466,000, the Commerce Department reported Wednesday, far below the weakest levels of construction in the post-World War II era.