Garrick Werdmuller's Blog

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Mortgage and Lending - Caliber Home Loans - NMLS# 242952

ARCHIVED BLOG POSTS

2014 

A "boomerang buyer" is defined as someone who has lost their home in the last five years and is now ready to "come back" to the purchase market. According to Les Christie from CNN Money this demographic is made up of nearly 6 million people. There are a few basic things a boomerang buyer must kn...
06/19/2014
  Boomerang Buyers, aka buyers that are returning to the housing market after short sale, foreclosure, or bankruptcy, must reestablish their credit but what exactly does that mean?  Answers may vary between lenders but for the most part these are the general guidelines. A spouse’s credit cannot ...
06/19/2014
  A short sale is the sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. The lender agrees to a payoff of a lesser amount than is actually owed, even on a current mortgage, to facilitate the sale of the property to a third party. If a property is surre...
06/19/2014
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Garrick Werdmuller

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