mike sikorski mba gri: Most Loan Modifications ‘Designed” To Fail - 01/05/09 06:07 PM
"Unqualified" homeowners are being offered mortgage loan modifications by their bank or mortgage lender that are ultimately designed to fail, in a slight of hand effort to offer token assistance to consumers who should never have received mortgage loans in the first place.
The mortgage industry estimates that over 60% of … (1 comments)
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mike sikorski mba gri: Most Loan Modifications ‘Designed” To Fail - 01/05/09 06:04 PM
"Unqualified" homeowners are being offered mortgage loan modifications by their bank or mortgage lender that are ultimately designed to fail, in a slight of hand effort to offer token assistance to consumers who should never have received mortgage loans in the first place.
The mortgage industry estimates that over 60% of … (0 comments)
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mike sikorski mba gri: Certain Loan Mods Are ‘Designed” To Fail - 01/03/09 06:01 PM
"Unqualified" homeowners are being offered mortgage loan modifications by their bank or mortgage lender that are ultimately designed to fail, in a slight of hand effort to offer token assistance to consumers who should never have received mortgage loans in the first place.
Although many ‘qualified' consumers are receiving favorably modified … (0 comments)
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mike sikorski mba gri: THINK TWICE ABOUT “SHOPPING” FOR A MORTGAGE - 12/06/08 08:29 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 a … (1 comments)
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mike sikorski mba gri: MORTGAGE LOAN APPROVALS USING NON-TRADITIONAL CREDIT - 12/05/08 06:22 PM
Homebuyers turned away due to lack of credit or credit scores do have a rather unconventional way to be approved without traditional credit or even a credit score.
Nontraditional credit is a widely used form of credit verification used by certain mortgage lenders for loan applicants who prefer not to use … (2 comments)
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mike sikorski mba gri: MORTGAGE FRAUD BEGINS AT LOAN APPLICATION - 12/05/08 06:19 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 term … (0 comments)
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mike sikorski mba gri: LOAN APPROVALS JUST GOT TOUGHER - 12/05/08 06:16 PM
Getting a mortgage loan approval is about to get a lot tougher 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.
Revised mortgage loan underwriting guidelines will call for higher credit … (1 comments)
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mike sikorski mba gri: IS YOUR LANDLORD MAKING THEIR MORTGAGE PAYMENT? - 12/05/08 06:14 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 (namely … (0 comments)
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mike sikorski mba gri: HOW A LOAN APPROVAL BECOMES A LOAN DENIAL - 12/05/08 06:10 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 of … (0 comments)
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mike sikorski mba gri: Fix Credit Issues BEFORE Shopping For a Home - 12/05/08 06:07 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 from the … (1 comments)
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mike sikorski mba gri: FINANCING THE “AS-IS” HOME PURCHASE - 12/05/08 06:05 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 various … (0 comments)
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mike sikorski mba gri: COMMIT MORTGAGE FRAUD AND PAY A HEAVY PRICE - 12/05/08 06:03 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 estate … (1 comments)
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mike sikorski mba gri: Beware of ‘Bait & Switch’ for Closing Costs & Interest Rates - 12/05/08 06:01 PM
The interest rates and closing costs that you shop for today for a mortgage loan could be dramatically different when you get to the closing table.
Unscrupulous mortgage broker and bank loan officers are intentionally quoting low interest rates and even lower closing costs as a way to get consumers to … (0 comments)
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mike sikorski mba gri: Most Short Sales, Foreclosures Unnecessary - 12/05/08 05:57 PM
Most of the properties for sale as Short Sales as well as properties currently in foreclosure are unnecessary, so property owners should strongly consider all of their options before taking the steps towards certain financial ruin and seriously derogatory credit.
The use of Federal and State lending laws could dramatically … (0 comments)
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mike sikorski mba gri: IS YOUR LANDLORD MAKING THEIR MORTGAGE PAYMENT? - 11/25/08 02:02 AM
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 (namely … (0 comments)
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mike sikorski mba gri: THINK TWICE ABOUT "SHOPPING" FOR A MORTGAGE - 11/25/08 01:58 AM
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 mba gri: The Terrible Truth about Mortgage Brokers and Loan Originators - 11/25/08 01:55 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 mba gri: MORTGAGE LOAN APPROVALS USING NON-TRADITIONAL CREDIT - 11/25/08 01:53 AM
Homebuyers turned away due to lack of credit or credit scores do have a rather unconventional way to be approved without traditional credit or even a credit score.
Nontraditional credit is a widely used form of credit verification used by certain mortgage lenders for loan applicants who prefer not to … (0 comments)
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mike sikorski mba gri: MORTGAGE FRAUD BEGINS AT LOAN APPLICATION - 11/25/08 01:51 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 term … (0 comments)
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mike sikorski mba gri: LOAN APPROVALS JUST GOT TOUGHER - 11/25/08 01:48 AM
Getting a mortgage loan approval is about to get a lot tougher 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.
Revised mortgage loan underwriting guidelines will call for higher credit … (0 comments)
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