lenders: FHA Premium Reduction Could be Recinded in Trump's "12:01 changes" - 01/19/17 06:37 AM

 Mortgage news you can use. Agents are not loan officers, but we must keep on top of pending changes, especially when working with buyers. John Melnick II with Presidential Bank Mortgage NMLS ID # 527960 in Fairfax provided this information.
 
"Subject: Potomac Partners Update: FHA Premium Reduction Likely To Be Rescinded & Updated
It now appears likely that HUD will rescind the FHA premium reduction on Friday as part of the Trump Administration’s plans to overturn a host of regulations/policies implemented by the Obama Administration. Referred to as the “ 12:01 changes” (i.e. immediately after the Inauguration), we understand each Department/agency was asked … (3 comments)

lenders: Follow the Basics When Checking Your Credit Scores - 01/10/17 05:31 AM
If you plan on purchasing a large ticket item like a new vehicle, land, or house, it is good to know your credit score ahead of time. But where you get those credit scores from can make a huge difference to lenders. So if you are planning on buying a home, stick with proven basics.
(1) Check with whichever lender / loan officer you have chosen to work with first. They know which scores they will use, and they know how they can help improve your score if need be.
(2) Plan ahead, especially if you think your score is borderline. It can … (1 comments)

lenders: Update Ocwen Mortgage Settlement = Two Billion in Principal Reductions - 03/08/14 11:03 PM
 
 The known criminal activity in the mortgage industry is enough to make anyone sick. It wasn't just OCWEN that was engaging in fraud and wrongly foreclosing on a huge number of mortgages. This garbabe was standard procedure with several large lenders. Why are these lenders allowed to continue in business? The evidence is clear that they basically stole billions of dollars from consumers across the country. Why would anyone want OCWEN servicing their loan? Reading these reports, it is clear that anyone who is applying for a mortgage should start the process at least 60 days before you plan to start shopping … (2 comments)

lenders: CFPB Wants Your Best Ideas on Improving The Closing Process - 02/06/14 07:03 AM
Well, sorry for the late post. CFPB actually wants this advice by Feb 7th, which is tomorrow. But there is still time to submit you best suggestions! Just click link below for the full story about educating consumers on "Know Before You Owe".
 
http://www.regulations.gov/#!documentDetail;D=CFPB-2013-0036-0001
 
 
Jeff Pearl / Lic in VA
Remax Distinctive - McLean VA
703-727-4876
Homes / Land / Farms / Historic
www.jeffpearlhomes.com

 

(2 comments)

lenders: Improve Your Chances of Getting Your Mortgage Application Approved? - 11/28/13 02:44 AM
If you're not using an agent, you might start out in the wrong direction when you are beginning the process of buying real estate. If you don't have an agent, but have an established relationship with a lender, that could be in your interest in some cases. It just depends on what you want to purchase. If you want to buy land and build, or if you want to buy a fixer - upper, or new construction, or a resale. Each one of those scenarios could require a different lender. With new construction, the builder has reasons for wanting you to … (0 comments)

lenders: Use a Local Lender With Local Knowledge and Local Experience - 05/17/13 12:31 AM
I just talked with someone this morning. They had wanted to buy a lot in Pine Grove / Bluemont which is in Western Loudoun maybe 15-20 minutes West of Purcellville VA. They have their plans to build a new home on the lot and had estimate from builder. Total cost for lot, well, septic, and new construction of house, and related items like driveway, power, etc. came to $258,000.00. It's not easy to buy a lot and build in Loudoun county for $258,000.00, but it can be done. So it was hard to believe when their " lender" came back and … (33 comments)

lenders: New FHA 2/1 Buydown Starting at 1.5% - Loans to $417,000.00 - 04/12/13 04:51 AM
 
John Melnick II
Senior Loan Officer
NMLS ID #527960
Presidential Bank Mortgage
11320 Random Hills Rd. Ste 100
Fairfax, VA 22030
703-460-5510-O
703-303-6434-C
703-277-2882-F
www.melnickmortgage.com  online application
Presidential Mortgage is local loan service nationwide
Shared with permission of John Melnick.
Jeff Pearl / Lic in VA
Remax Distinctive - Reston VA
703-727-4876
Homes / Land / Farms / Historic
www.jeffpearlhomes.com
Equal Housing Opportunity Provider
 
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Jeff Pearl, Full Service Full Time Realtor (RE/MAX Distinctive / LIC in VA) Rainmaker large

Jeff Pearl

Full Service Full Time Realtor

Lovettsville, VA

More about me…

RE/MAX Distinctive / LIC in VA

Address: Lovettsville, Leesburg, Ashburn, Vienna, McLean, Reston, Fairfax,Falls Church, Arlington, VA

Office: (703) 727-4876

Fax: (703) 574-5644

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