mortgages: 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 … (0 comments)
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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: HOW A LOAN APPROVAL BECOMES A LOAN DENIAL - 11/25/08 01:43 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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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: 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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mortgages: LOAN APPROVALS ARE GETTING TOUGHER - 10/26/08 04:44 AM
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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mortgages: THINK TWICE ABOUT "SHOPPING" FOR A MORTGAGE - 10/26/08 04:43 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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