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OK… so let me introduce myself. My name is Eric Byrd and am part owner in my mother’s mortgage business. Yes, yes.. I know we have different last names.. Byrd Financial just doesn’t seem to have the same “ring” to it.

I’m a full time student here at Quinnipiac getting my bachelor’s. Theres not much I can do during the school year.. BUT I do intend to blog on here as much as possible adding anything I can. I plan to add a section with different articles of the wall street journal that is specific to the mortgage industry right now. I also plan to add some lessons I am taking away from my classes to share with you all.

I look forward to getting more involved with this, so should you!


I found a good video on You tube that describes the current situation. This is a good base as to what it all means to the average to low credit consumer.

Click to Watch

How do you know if its the right time to sell?

Ask yourself.. Are you looking to buy a bigger house? or Are you downsizing and looking for something smaller?

Moving up to a bigger house makes sense in todays market. The concept is simple. Let me give you an example.

Say you think your house is worth 300,000 and you want to buy the house of your dreams that might have been worth 800,000. The only problem is you don’t want to lose money due to a 20% decrease in housing values.

BUT if you think about it, it makes sense to take a 60,000 dollar loss on your 300,000 house today and get a 160,000 dollar discount on your 800,000 dollar dream house.

On the other hand.. If you are thinking about downsizing you should probably wait unless you absolutely need to sell.

With the housing market in a huge down turn it is more important than ever to know what your own house is worth before you start looking. Even more important is knowing your buying power.

So what is your Buying Power?

Knowing what kind of loan you can qualify for and how much your monthly payment will be.

Banks are discontinuing loan programs on a daily basis. This means you might qualify one day for a certain loan program and the next day another loan program might benefit you even better.

Interest rates are volatile because of the uncertainty in todays stock market especially with mortgage bonds.

In my opinion you should keep your expectations open for fluctations in rate and fluctations in value. Always keep an open mind!

Hello everyone!

STOP! Be sure to bookmark me, as I will be updating this blog a few times a week with important and breaking news about whats going on in the industry today as far as rates and programs, trends for the future and what it all means to you!

I will also be posting about few personal dealings to show you all that Ford Financial really is the Mortgage Broker that breaks the mold

check out the “Why I am good at what I do” section to learn a little more about me and how I do business.

If anyone has anyone questions regarding themselves and any personal issues, Feel free to Contact me at any time!