I'm talking about your assets to close! If you or anyone you know is planning on buying a home, you need to read this. In addition to a credit check, verifying your income and inspecting the property, your mortgage company will be verifying your money. Stated income and stated asset loans have pretty much fallen off the face of the earth, and investors have gotten stricter when it comes to verifying your assets. Now what is going to be verified? Since things have gotten very challenging, it's best to assume that … (5 comments)
valencia mortgage: What's the deal? I thought FHA waived the 90 day Property flip rule?
- 06/16/10 05:10 PM
What's the deal? I thought FHA waived the 90 day property flip rule? In January, I posted a blog FHA 90 day flip rule lifted. This blog gave some pertinent details about alot of the guidelines surrounding the waiver. And this is just more proof that active rain is a great place for us to share information amongst industry professionals. The reason I say this is because I have recently had a situation surrounding a property flip. I got that excited call from the realtor. They got the house! I'll send you the contracts as soon as I get them back. I proceed to meet … (9 comments)
The traditions we follow today are actually ancient rituals whose history has gotten lost in the chronicles of time. Did you know that in ancient times, Easter had nothing to do with the Christ's Resurrection? The pagans celebrated the coming of spring, flowers and the planting season. The Easter bunny was added later recognizing the rabbit's prolific mating habits and the egg, the symbol of birth. Fertility was the lifeline … (1 comments)
valencia mortgage: What is a 203k Loan? 203k Loans Made Simple
- 07/13/09 11:25 PM
What is a 203k Loan? 203k MADE SIMPLE In Southern California, FHA loans were just not utilized much in the past because of the FHA Maximum Mortgage limits But now that the limits have been increased and the prices have decreased, FHA loans have become the most utilized loan especially for first time homebuyers. So what is a 203k loan and why use one? When a buyer wants to buy a home that needs repairs utilizing FHA financing, normally the repairs would have to be completed prior to the close of escrow. The repairs would normally fall on the responsibility of … (101 comments)
Show me your assets! Yep that's what I said. 
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