ma lending: Foreclosure/bankruptcy/short sale due to job loss? New program!!!
- 05/06/14 12:21 PM
"BACK TO WORK PROGRAM" IS AVAILABLE NOW! This program reduces the "waiting period" after a bankruptcy or short sale or foreclosure to ONE YEAR. In order to qualify, you must meet several minimum eligibility standards. The first is that you must have experienced an "economic event" (e.g.; pre-foreclosure sale, short sale, deed-in-lieu, foreclosure, Chapter 7 bankruptcy, Chapter 13 bankruptcy, loan... modification, forbearance agreement). The second is that you must prove a full recovery from the event. Third, you must agree to complete housing counseling prior to application. You must also show that your household income declined by 20% or more … (0 comments)
ma lending: Do you PROCRASTINATE?
- 11/19/09 01:04 PM
"Conditions are NEVER 'just right'. People who delay action until all factors are favorable do nothing." William Feather (1888-1981) Author Do you find yourself saying, "I'm waiting until....?" Time passes quickly. Do not WAIT until the weather is perfect and the stars are aligned correctly. Just DO IT! Make life happen. Do not put off until tomorrow what you can do TODAY. The movers and shakers will just whizzzzzzzzzzz by you. So, BEEP, BEEP, become the Road Runner, not the one who is left by the side of the road. BEEP, BEEP! Have a great day! Ann Sabbagh Vice-President Seacoast Mortgage … (4 comments)
ma lending: FHA LOANS: AGENTS AND MORTGAGE BROKERS: WATCH OUT FOR THIS TEST ON MULTI-FAMILIES!!!
- 10/23/08 11:02 AM
So many loan officers forget about the "housing" check for 3 or 4 family FHA purchases. Desktop underwriting does NOT check for this, so it is a manual check. I have heard about loans failing at other companies because of this and it is a simple check that can be done by the agent or the mortgage broker.
The "housing" check is simply the following:
Add the market rents from the appraisal and multiply by 85%. The result of this equation MUST be EQUAL TO OR GREATER THAN the PITI (Principal, Interest, Taxes and Insurance) PLUS PMI total.
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Do you qualify for a loan? At Seacoast Mortgage, we qualify you within your means. What you can afford is different than what you qualify for. Call us today!
"BACK TO WORK PROGRAM" IS AVAILABLE NOW! This program reduces the "waiting period" after a bankruptcy or short sale or foreclosure to ONE YEAR. 
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