mike sikorski: FINANCING THE "AS-IS" HOME PURCHASE - 11/09/08 01:26 PM
The loan approval from your bank or mortgage lender to finance a home purchase may not include many homes for sale in "As-Is" condition, so it is critically important that you recognize this before committing yourself to a purchase contract.
Several purchase contracts have failed to close recently due to … (0 comments)
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mike sikorski: COMMIT MORTGAGE FRAUD AND PAY A HEAVY PRICE - 11/09/08 01:23 PM
Question: What do you get when you combine a dishonest mortgage broker, dishonest title agent, and a dishonest real estate appraiser? Answer: heavy fines as well as a lengthy prison sentence!
Law enforcement officials and government regulators are cracking down hard on people involved in all aspects of the real … (0 comments)
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mike sikorski: IS YOUR LANDLORD MAKING THEIR MORTGAGE PAYMENT? - 11/02/08 07:52 PM
Just when you thought the housing and mortgage crisis was limited to only homeowners, a new victim has been brought into the fray, one who doesn't own a home or have a mortgage. Who are these new, unsuspecting victims? The people who are actually renting homes!
Thousands of homeowners … (0 comments)
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mike sikorski: COMMIT MORTGAGE FRAUD AND PAY A HEAVY PRICE - 11/02/08 07:50 PM
Question: What do you get when you combine a dishonest mortgage broker, dishonest title agent, and a dishonest real estate appraiser? Answer: heavy fines as well as a lengthy prison sentence!
Law enforcement officials and government regulators are cracking down hard on people involved in all aspects of the real … (1 comments)
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mike sikorski: MORTGAGE FRAUD BEGINS AT LOAN APPLICATION - 11/02/08 07:48 PM
How far will you go to get the dream home you have always wanted, or the lowest interest mortgage available? Are you willing to claim assets you do not have, or income that you truly cannot prove to be true? If so, you could be facing a lengthy prison … (0 comments)
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mike sikorski: GET THE FACTS ABOUT OWNER FINANCING - 11/02/08 07:46 PM
A very effective method of selling real estate in a buyer's market is to consider offering owner financing, which can offer both the buyer and seller many benefits in the selling and financing of real estate.
Unlike many seller's who may end up giving a deep discount to sell their … (0 comments)
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mike sikorski: STATED INCOME LOANS ARE ALIVE AND WELL - 11/02/08 07:44 PM
Contrary to what you may have read recently regarding the Federal Reserve's ruling regarding the elimination of stated income loans: stated income loans are alive and well, but the requirements for getting a stated income loan have changed dramatically.
The recent ruling that amended the Federal Truth-In-Lending Act or Regulation … (0 comments)
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mike sikorski: LOAN MODIFICATION: THE ALTERNATIVE TO THE SHORT SALE - 11/02/08 07:42 PM
Homeowner's having financial difficulty in paying their monthly mortgage payment who also want to keep their home should strongly consider asking their mortgage lender to simply modify their mortgage loan as opposed to selling their home by short sale.
A loan modification is the newest tool in assisting homeowners … (0 comments)
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mike sikorski: The Terrible Truth about Mortgage Brokers and Loan Originators - 11/02/08 07:40 PM
Many of today's Florida licensed mortgage brokers and Loan Originators lack the necessary skills to truly assist consumers in securing the best financing arrangements possible, due in large part to the fact they are poorly trained, lack the most basic skills necessary to truly understand all facets of mortgage lending, … (0 comments)
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mike sikorski: HOW A LOAN APPROVAL BECOMES A LOAN DENIAL - 11/02/08 07:38 PM
The loan approval that you receive today could fail to close due to the lack of follow through required by consumers and their loan officers as stipulated directly within the loan approval itself.
A loan approval contains several stipulations by a mortgage underwriter that requires the verification of a number … (1 comments)
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mike sikorski: LOAN APPROVALS ARE GETTING TOUGHER - 11/02/08 07:37 PM
Getting a mortgage loan approval is about to get a lot tougher beginning in June, as both Fannie Mae and Freddie Mac have opted to toughen underwriting guidelines for conventional mortgage loans as a direct result of the current housing and mortgage crisis.
Effective June 2, 2008, revised mortgage … (0 comments)
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mike sikorski: THINK TWICE ABOUT "SHOPPING" FOR A MORTGAGE - 11/02/08 07:35 PM
Consumers "shopping" for a mortgage have taken on a new twist, leading to the creation of an information-sharing network by competing mortgage lenders.
In a desperate attempt to secure some forms of mortgage financing, loan applicants have turned to tailoring their loan application and loan documentation to that of what … (0 comments)
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mike sikorski: Fix Credit Issues BEFORE Shopping For a Home - 11/02/08 07:33 PM
Financing the purchase of a home is getting more difficult these days, especially for those consumers who may have recent or past credit delinquencies in their credit file.
Credit score requirements by most mortgage lenders are changing on a weekly basis, requiring no less than a 580 middle score … (0 comments)
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mike sikorski: YOUR PREDATORY MORTGAGE LOAN MAY BE TERMINATED! - 10/26/08 04:56 AM
Homeowners across the country who refinanced their mortgage with a predatory lender may be able to receive a refund of all of their closing costs and the interest they paid, provided that they act within three years of the closing of their mortgage loan.
Thousands of homeowners who refinanced their … (5 comments)
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mike sikorski: MORTGAGE FRAUD BEGINS AT LOAN APPLICATION - 10/26/08 04:54 AM
How far will you go to get the dream home you have always wanted, or the lowest interest mortgage available? Are you willing to claim assets you do not have, or income that you truly cannot prove to be true? If so, you could be facing a lengthy prison … (1 comments)
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mike sikorski: GET THE FACTS ABOUT OWNER FINANCING - 10/26/08 04:53 AM
A very effective method of selling real estate in a buyer's market is to consider offering owner financing, which can offer both the buyer and seller many benefits in the selling and financing of real estate.
Unlike many seller's who may end up giving a deep discount to sell their … (0 comments)
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mike sikorski: STATED INCOME LOANS ARE ALIVE AND WELL - 10/26/08 04:51 AM
Contrary to what you may have read recently regarding the Federal Reserve's ruling regarding the elimination of stated income loans: stated income loans are alive and well, but the requirements for getting a stated income loan have changed dramatically.
The recent ruling that amended the Federal Truth-In-Lending Act or Regulation … (0 comments)
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mike sikorski: LOAN MODIFICATION: THE ALTERNATIVE TO THE SHORT SALE - 10/26/08 04:50 AM
Homeowner's having financial difficulty in paying their monthly mortgage payment who also want to keep their home should strongly consider asking their mortgage lender to simply modify their mortgage loan as opposed to selling their home by short sale.
A loan modification is the newest tool in assisting homeowners … (0 comments)
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mike sikorski: The Terrible Truth about Mortgage Brokers and Loan Originators - 10/26/08 04:48 AM
Many of today's Florida licensed mortgage brokers and Loan Originators lack the necessary skills to truly assist consumers in securing the best financing arrangements possible, due in large part to the fact they are poorly trained, lack the most basic skills necessary to truly understand all facets of mortgage lending, … (0 comments)
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mike sikorski: HOW A LOAN APPROVAL BECOMES A LOAN DENIAL - 10/26/08 04:46 AM
The loan approval that you receive today could fail to close due to the lack of follow through required by consumers and their loan officers as stipulated directly within the loan approval itself.
A loan approval contains several stipulations by a mortgage underwriter that requires the verification of a number … (0 comments)
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