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home loans: What Does Your CPA Say? - 09/30/11 09:08 AM
We’re not actually in the mortgage industry; we’re actually in the business of navigating underwriting and guideline minefields. If you’re a recent home buyer, a Realtor, a title company professional or a fellow lender you’ll understand that I am not being overly dramatic! We tread cautiously with an eye for what’s ahead…that’s just the name of today’s game.
Today’s borrowers are different too. A larger percentage carries heavier baggage and less than stellar credit scores. Some borrowers, (more than you would think) are not even packing a W-2 – the standard statement for yearly income reporting. Certainly the economy and … (5 comments)

home loans: Closing Costs Gone Wild! - 09/02/10 08:11 AM
I don't like to throw statistics around too often. They can be misconstrued and twisted. But some of them just shout out and leave absolutely no room for interpretation. Here's one: According to Bankrate.com, buyers' closing costs jumped almost 37% over last year.
This info is both startling and ironic. Startling because that is an insane number and ironic since HUD was bragging about all the alleged precautions they had to put into place to keep the fees paid to loan officers in check.
But actually, closing costs have increased because of the administrative burden placed on lenders because of these … (37 comments)

home loans: Tampa Bay Home Loans: Just Because You Said So? - 05/24/10 06:11 PM
In other adventures in lending, I had a client who told me she wanted to buy a home because she was getting divorced. Not that she didn't seem like a really nice woman and not that I wasn't compassionate for her situation, but there were no divorce papers filed and no lawyers involved.
To an underwriter, that could smell of occupancy fraud: the attempt to purchase a home as though it were a primary residence for one person, when it was actually intended for use as an investment/rental property/vacation home. And that just doesn't go over big; or go anywhere for … (0 comments)

home loans: Home Loans - What are We Talking About? - 05/21/10 10:11 AM
In both the mortgage and real estate industries we've gone beyond the "It is on the Internet, so it must be true." to "How did they just spin that?"
Really smart and really successful Steve Harney (negotiation expert and leadership trainer for real estate professionals), recently crystallized my point about the confusion that is perpetuated in the media. I thank him for bringing this particular instance to our attention.
He recently blogged about how one report (the S&P/Case-Shiller Home Price Index of 20 Cities) yielded two completely different news stories. Freedom of speech, of course! But two completely opposing conclusions drawn … (2 comments)

 
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Brian P. Forrester

Palm Harbor, FL

More about me…

VanDyk Mortgage

Address: 35095 US Hwy 19 N Suite 100, Palm Harbor, FL, 34684

Office Phone: (727) 216-8138

Cell Phone: (813) 361-6350

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