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So far Wendy Thompson Team has created 12 blog entries.

The hidden cost of renting & waiting to buy

As a renter or first time home buyer, it’s easy to look at home ownership as potentially expensive. You’ve got home maintenance, insurance, repairs, landscaping and any number of things which may require money to maintain. But here’s the thing that almost NO ONE REALIZES: When you rent, there is a cost involved in waiting. And it’s a HUGE number. Way bigger than you think. That’s why I bought a home as early as I could. And it’s why I’ve encouraged MY OWN children to buy their first home’s as early as possible. It’s the COST OF WAITING! Forget hundreds, [...]

By |2018-06-29T16:30:36+00:00June 20th, 2018|Homebuyer|0 Comments

Why Closing an Old Account Can DROP Your Score

It’s a popular opinion amongst those who work with any lines of credit that logic is discarded as often as possible. We’ve seen plenty of cases where someone was utterly dismayed when presented with the information that paying off something like a five-year automobile note actually lowered their score up to 40 points.  Why Does This Happen? The pure and simple answer is completely counterintuitive (see first sentence of blog) but here it is: The bureaus would rather you show consistent payments over years and decades than to succinctly pay it off. The older the trade line the more you [...]

By |2018-06-29T16:35:04+00:00June 19th, 2018|Loan|0 Comments

How NOT to Lose $50,000 When Buying a Home

Last Thursday afternoon was humming along when my phone rang. It was a past client. She sounded stressed. “Hey, are you still in the mortgage business?” she asked. “Why yes!” I said. “I’m about to lose $50,000 because these people can’t get my loan closed, and my contract expires in a week”. Yikes. The Anatomy of a $50k Mistake Our client thought they were in a good spot. They were selling their prior home and had PLENTY of money to put down on the new one. So much, in fact, that they gave the seller a $50k deposit! The problem [...]

By |2018-06-01T14:04:30+00:00May 31st, 2018|Homebuyer|0 Comments

Been turned down 4 times? Don’t give up…

When you REALLY want something so bad you can TASTE IT, sometimes you just have to keep at it until it gets done. Even when it’s not easy. Can you relate? We recently had a borrower who came to us feeling a little beat up. He had been turned down for a mortgage loan not once, or twice, or three times. Yes… he had been turned down by 4 other lenders. But he REALLY wanted this house for his family! So he stuck it out. He found us. Self Employed Borrowers Have It Rough Self employed business owners are the [...]

By |2018-04-24T19:10:16+00:00April 20th, 2018|Mortgage|0 Comments

Quick Close – No problem

A recent client of ours found her dream house in Memphis, TN. It had everything she wanted; a one of a kind house. She knew which rooms the kids would be in. She knew what changes she wanted to make to the house all their own. She could feel what it was going to be like to have her family living in this new house. It would be theirs in about a week. Their loan was approved. They were packing. And just like that… it almost vanished. The Call Nobody Wants Just 7 days before the closing, their lender called. [...]

By |2018-05-14T14:54:17+00:00April 13th, 2018|Loan|0 Comments

Little house. Big family. Happy parents.

It’s hard to really put down roots with your family when you’re renting. It’s someone else’s house. You know it & the kids know it. For families with kids, buying a home is so important to really establishing your “story” as a family. You can start to really make friends. It’s where you create memories. What does a first time homebuyer look like? A lot of first time homebuyers we see are young people just starting out. Maybe they’re single and buying a home. Sometimes they’re soon-to-be or recently married. Every once in awhile we hear from a family with [...]

By |2018-05-14T14:52:31+00:00March 19th, 2018|Homebuyer|0 Comments

The brighter side of a divorce

Divorce is awful. There’s no other way to describe it. More than half of the people you’ll meet today have been through a divorce. Maybe even you. As much agony as families have with divorce, sometimes there’s a bright side. The part that comes after… after healing, after a reset. The kind of hope that comes with a 2nd chance. That’s exactly the kind of bright side that we helped one borrower have recently.  Removing a Spouse from a Mortgage Post Divorce She came to us after the divorce. We had helped her and her ex-husband buy the home they [...]

By |2018-03-28T16:58:11+00:00March 5th, 2018|Mortgage|0 Comments

FHA stands for “Families At Home for the Holidays”… sort of!

The government has FHA all mixed up… They call it “Federal Housing Administration”, but this year we’re calling it “FAH” which is “Families at Home (for the Holidays)”! That’s because this past month, we had one of the most heartwarming stories we’ve ever had… A young couple came to us wanting to buy a home. They were a sweet couple, hardworking and good renters with a baby on the way. The problem? They had limited credit… like no-scores credit. Now, in some cases we work on building credit for these types of borrowers. But for this couple we wound up [...]

By |2018-02-02T16:13:07+00:00January 29th, 2018|FHA|0 Comments

Having a local lender matters – even on VA loans

Despite all the advances in technology, some things are still better when they’re local. Like BBQ. Or pizza. Or mortgage loans. We recently had a mother and daughter come to us who were trying to buy a home. And can I tell you, they were SERIOUSLY frustrated! They tried to get a home for 6 months and had put in offers on 4 different houses. But none of them were accepted! Seems hard to believe, right? As we dug into their situation, we learned that their approval letter was from one of the big, online lenders. After talking to their [...]

By |2018-02-02T16:09:39+00:00January 15th, 2018|VA|0 Comments

Can Netflix help you get mortgaged and married?

We see it all the time… that certain look in a borrower's eyes when they’ve been turned down for a mortgage loan in the past. It’s a lack of confidence. An “I’ll give it one more shot” kind of look. We love meeting these types of folks. Folks that never give up. Folks like a recent borrower of ours who came to us for that “last shot”. They were trying to buy their first home but had been turned down 3 times in the last few months. Someone told him he might still be able to get a loan from [...]

By |2017-11-22T00:22:03+00:00November 22nd, 2017|Mortgage|0 Comments

6489 Quail Hollow Rd, Suite 106
Memphis, TN 38120
(901) 461-8858