1. First of all, for all the people that went into forbearance, the expiration of the forbearance from the federal government, or GSA, is expiring on June the 30th. HUD has said that they’re going by the same date. You never know if they may extend it. But what that means, is that forbearance rule that the government set in place no longer exists. If you know somebody in forbearance, get them out, now. Get them out, now. That’s my advice. Even if they extend it, get them out. You’re missing opportunities right now by being in forbearance. It’s not a free ride. It’s not going to help anyone unless you lost your job. But a lot of people took advantage of forbearance and they didn’t need it. They did it because they thought they could take advantage of a situation, and it’s only going to come back to bite them. I don’t advise it, okay. That’s the first big thing you need to know.
2. Second big thing you need to know. As interest rates are continuing to rise, the refinance market is pretty much going away. Unless you’re looking at a 15 year conventional loan or you need to cash out to consolidate debt, the lowest possible rates have gone. They’re still very attractive don’t get me wrong. I’m still doing a lot of refinances, but not as many, and they’re starting to fade out. You’re also going to find that appraisals are becoming more and more difficult to get up based on this value that we’re experiencing right now with the increase in appreciation.
3. And then the third big thing you need to know is that I’m holding a construction perm class for realtors and the general population on a zoom meeting on March the 30th at 10 a.m. You don’t want to miss this meeting. First of all, why Construction perms? Well, there’s only a month and a half worth of inventory out there, and everybody’s in a multiple offer situation, problem. Builders won’t build enough homes. They can’t. They don’t even know what to price them at. Even my favorite builder Hanover Family builders can’t write enough contracts. They’re limiting the contracts because they don’t know what the prices are going to be in the future. So even the great builders like Hanover are limiting the amount of contracts that they’ll even write on any given month. So here’s what we’re going to do. We’re going to solve our own problems. We’re going to go out and find lots, and you can build your own home on your own lot. I mean, come on. You can’t buy new construction these days and be able to even park a jet ski in your side yard. There’s not enough room. Why not build your own home? Custom, semi custom quarter acre, half acre, acre, five acres, 10 acres, Conventional loans, FHA loans VA loans and build your own home with the custom builder or semi custom builder. I’ll connect you with the builder. Do you know, good builders? I’m interviewing builders right now so I can refer my clients to them.

Bruce Woodburn, CrossCountry Mortgage. Those are the three big things you need to know. Call me any time and don’t forget to register for my zoom class for construction perms on March 30th at 10 a.m. There’s only 100 seats available, and I think I’ve got over 80 people already registered for the class. I look forward to seeing you then have a great day. Bruce Woodburn, CrossCountry Mortgage. I am The Loan Arranger with the three big things you need to know, Have a great day.