I stumbled across an article this weekend discussing what could happen when a 2nd mortgage holder refuses to subordinate so the first mortgage can be refinanced. Got me thinking - this could really add to the mortgage mess. If there is a benefit to the borrower by refinancing their 1st mortgage maybe the holder of the second should have to subordinate - at least in the current market. I haven't really thought about the concept full circle but my feeling is that there is a compromise somewhere. Especially, if it will enable a struggling homeowner to get back on track.
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H.R. 5140 Economic Stimulus Act of 2008
S. 2595 A bill to create a national licensing system for residential mortgage loan originators,
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In The News
Elite Mortgage Solutions, Inc to Open New Office
Commerce Crossing gains another firm
Appleton Post Crescent - May 2, 2008
KAUKAUNA — Construction began this week for Elite Mortgage Solutions, one of four businesses that will take up residence at Commerce Crossing.
The firm is not new to Kaukauna. For the past five years, owners Scott and Shannon Luscher have been operating from a site at U.S. 41 and County J.
When the office opens in August, the Luschers will have 3,397 square feet of space, more than double their current space.
"It lets us establish ourselves that we are going to be here for a long while," said Scott Luscher.
Elite Mortgage Solutions has served more than 1,000 clients, he said. The firm specializes in residential, commercial and new home construction and refinancing.
After having sat idle for 14 years, Commerce Crossing, once home to the Fox Valley Greyhound Park at U.S. 41 and State 55, started to attract business traffic last fall.
The Lazy Dog Sports Bar & Grill is scheduled to open next month.
Other businesses that will move in are Go Wireless' corporate office and Tri County Investments' indoor archery range, Hunters and Gatherers.
Official Press Release
October 19, 2007
Elite Mortgage Solutions, Inc., a Kaukauna based Mortgage Broker, has announced the acquisition of 1.75 acres of commercial real estate at Commerce Crossing in Kaukauna. The land will be the future construction site of the company's proposed 3000+ sq. ft. office building. "We have outgrown our current space and really wanted to stay in Kaukauna. Commerce Crossing is a great location and we are looking forward to breaking ground by this time next year", said Scott Luscher, President of Elite Mortgage Solutions, Inc.
Commerce Crossing gains another firm
Appleton Post Crescent - May 2, 2008
KAUKAUNA — Construction began this week for Elite Mortgage Solutions, one of four businesses that will take up residence at Commerce Crossing.
The firm is not new to Kaukauna. For the past five years, owners Scott and Shannon Luscher have been operating from a site at U.S. 41 and County J.
When the office opens in August, the Luschers will have 3,397 square feet of space, more than double their current space.
"It lets us establish ourselves that we are going to be here for a long while," said Scott Luscher.
Elite Mortgage Solutions has served more than 1,000 clients, he said. The firm specializes in residential, commercial and new home construction and refinancing.
After having sat idle for 14 years, Commerce Crossing, once home to the Fox Valley Greyhound Park at U.S. 41 and State 55, started to attract business traffic last fall.
The Lazy Dog Sports Bar & Grill is scheduled to open next month.
Other businesses that will move in are Go Wireless' corporate office and Tri County Investments' indoor archery range, Hunters and Gatherers.
Official Press Release
October 19, 2007
Elite Mortgage Solutions, Inc., a Kaukauna based Mortgage Broker, has announced the acquisition of 1.75 acres of commercial real estate at Commerce Crossing in Kaukauna. The land will be the future construction site of the company's proposed 3000+ sq. ft. office building. "We have outgrown our current space and really wanted to stay in Kaukauna. Commerce Crossing is a great location and we are looking forward to breaking ground by this time next year", said Scott Luscher, President of Elite Mortgage Solutions, Inc.
Legislative Issues
| H.R.1852 Expanding American Homeownership Act of 2007 |
| H.R.3915 Mortgage Reform and Anti-Predatory Lending Act of 2007 |
| S.2338 FHA Modernization Act of 2007 |
| H.R.2475 Veteran Home Equity Conversation [sic] Mortgage Act of 2007 |
H.R. 5140 Economic Stimulus Act of 2008
S. 2595 A bill to create a national licensing system for residential mortgage loan originators,
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