Subject: Re: FHA offer
From: "Mike" <[email-masked]>
To: "Scheppele, John" <[email-masked]>
Date: Fri, 21 Jan 2011 14:58:56 -0500

John,
I have spoken with them.  They did show some interest.  I am just not certain they would be in a good position to do it at this time.
Thank you,
Michael Bishop
Labor Law Poster Service
Phone 877-321-4144
Fax 888-442-4144
[email-masked] 
  ----- Original Message ----- 
  From: Scheppele, John 
  To: Mike 
  Sent: Friday, January 21, 2011 2:12 PM
  Subject: RE: FHA offer

  Mike and Celeste

  My guess is that they are showing you a ARM, which stands for Adjustable Rate Mortgage.  FHA offers 2 types of ARMs but the rate you are looking at is only good for either 3 or 5 years, then the rate can adjust up or down, but most likely up, with annual adjustments every year.  The only other way to get a rate that low is to charge you all kinds of fees which I never recommend.

  Are your renters interested in purchasing the home from you?  I could show them how they could own.   If you sold your home it might make it easier to then refinance your home into a conventional mortgage.

  John  

  From: Mike [mailto:[email-masked]] 
  Sent: Friday, January 21, 2011 12:55 PM
  To: Scheppele, John
  Subject: Re: FHA offer

  Hi John.

  Everything is working great with our new home and we just love it!  I still have the other home and have had a family renting it from me since August of 2009.  It is a bit of challenge of being a landlord but has been fairly beneficial for me to do so.  Hopefully that will continue.  So do you feel that the 3.5% rate they are "suggesting" is real or more of a basic rate shown with additional fees to follow?

  Thank you,
  Michael Bishop
  Labor Law Poster Service
  Phone 877-321-4144
  Fax 888-442-4144
  [email-masked] 

    ----- Original Message ----- 

    From: Scheppele, John 

    To: Mike 

    Sent: Friday, January 21, 2011 12:37 PM

    Subject: RE: FHA offer

    Mike       

    Hope everything is working out well on the new home.  Your rate is 4.875% which is where rates are today.  So I would not do a thing.  Did you ever sell your other home?

    John

    From: Mike [mailto:[email-masked]] 
    Sent: Friday, January 21, 2011 12:28 PM
    To: Scheppele, John
    Subject: FHA offer

    Hello John.

    I received the attached in the mail and though it looks like it may be coming from FHA, but I am thinking it is just an advertisement.  I didn't contact them so I am not certain the specifics of where the offer is coming from.  Do you know anything about this or if FHA is at these rate?  If so, do you feel it would be beneficial for me to look at refinancing with the lower rate with having to pay closing costs?  I value your input and appreciate anything you can tell me.

    Thank you,
    Michael Bishop
    [email-masked] 

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