lender: Did you know....
- 05/12/08 02:53 AM
That lenders have a tough time with the theory of a HIGHER purchase price than the actual list price? I am telling you this because if FHA is the mother of all financing right now, people are going to find ways for the seller to contribute 9% (6% seller concessions toward closing costs and 3% towards down payment assistance.) SO, when you are making an offer on a home, make sure you are not offering more than the list price. The lender's theory is if it doesn't sell for the old list price, why would that change this time? Also, if … (2 comments)
lender: Short Sale VS. Foreclosure
- 05/11/08 10:32 AM
Okay, I am doing this from a loan officer's point of view and of what I have seen how it is reported to credit reports. When someone has a short sale (sells it for less than the balance owed, that the lender accepted) it reports to the credit report as a 120 day late AUTOMATICALLY and it will say account settled for less than balance owed. When a foreclosure is reported, it says either foreclosure, 120 days late, 150 days late or ALL of the above. There is no difference in "saving someone's credit" when it comes to either doing a … (5 comments)
lender: A Few Tips For Everyone Referring Business to Mortgage Brokers....
- 04/28/08 01:05 PM
I was reading the news online and they gave some tips about mortgage brokers. So I have a few comments about these things they pointed out. There are a lot of new brokers in the industry. Interview your broker to see how long they have been in the industry and find out if they know their stuff! Finding out how long someone has been in the business does not always say they know their stuff! The only reason I say this is because I have been in the business a little over 2 years and a few people I know who … (2 comments)
lender: Services Offered By Your Favorite Georgia Loan Officer...
- 04/27/08 01:21 PM
Our Products: 100% purchase and refinance loans (full documentation) Limited Documentation purchase and refinance loans up to 95% Great Rates for Great Credit We Still Have Subprime! FHA, VA, Conventional, Refinances, Jumbo Super Jumbo Commercial Land Self-employed borrowers Competitive Rates for Weak Credit Credit Repair Hardworking Loan Officer/Processor at Your Buyer's Service I attend all of my closings regardless of their location Programs for those who can't document their income but have great credit/great assets Purchases and Refinances for Investors and Real Estate Agents AND MANY MORE... For More Information About Any Of My Offers, You May Contact Me:
Jennifer Butz Loan Officer at Georgia Lending Partners, LLC 2401 Macy Dr Roswell, GA 30076 770-573-9386-office 770-200-1973-fax 404-229-0514-cell www.georgialending.com/jennifer_butz.php www.freewebs.com/jennifersmortgages … (1 comments)
What happened is that mortgage rates jumped by three-quarters of a percentage point in a matter of weeks - reversing a sharp drop that began in the middle of last year. Here's Mr. Bernanke's answer to Congressman Guiterrez from the Congressional hearing: "Even as the Fed has lowered interest rates, and as the general pattern of interest rates has declined, the pressures in the credit markets have caused greater and greater spread, particular for risky borrowers, like risky firms, for example," he said. "Our easing is intended to, in some sense, you know, respond to this tightening of credit conditions. And … (1 comments)
That lenders have a tough time with the theory of a HIGHER purchase price than the actual list price? I am telling you this because if FHA is the mother of all financing right now, people are going to find ways for the seller to contribute 9% (6% seller concessions toward closing costs and 3% towards down payment assistance.) SO, when you are making an offer on a home, make sure you are not offering more than the list price. The lender's theory is if it doesn't sell for the old list price, why would that change this time? Also, if … (2 comments)
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