equity buyout: 2024 Conforming Loan Limits - Realtor & Attorney Talking Points
- 11/30/23 12:29 PM
Fannie Mae & Freddie Mac have recently announced their new Conforming and High Balance Conforming Loan Limits for 2024. If you are a Realtor, Financial Planner and/or Attorney, do you know how to articulate this great news to your Clients? Here are a few talking points: In most counties across the country, there are 3 categories of loan types (based on the LOAN AMOUNT) Conforming High Balance Conforming Non-Conforming (Jumbo) The loan amounts have increased on each category as follows: Conforming was $726,200, increasing to $766,550 in 2024 High Balance Conforming limits vary significantly depending on county (see below for a … (1 comments)
equity buyout: Divorce Equity Buyouts - Which Appraisal Is Used For The Mortgage?
- 11/14/23 04:00 PM
Understanding HVCC's Impact On The Appraisal Process If Divorcing Parties order their own appraisal, why does a Mortgage Lender need to order a separate appraisal? If there are multiple appraisals, which one is used for the Divorce Equity Buyout loan process? The answers stem from unintended consequences of the federally mandated Home Valuation Code of Conduct (HVCC). Prior to HVCC, there were several report incidents of alleged collusion between Lenders and Appraisers, to include: Positive Reinforcement – Example: “If you can ‘bring in’ the value of the property high enough for the deal to work, I (the Lender) will give you (the Appraiser)…” … (16 comments)
equity buyout: Psychologist examines Divorce Real Estate & Mortgage Transitions
- 02/02/23 11:47 AM
What are some of the psychological impacts of a Divorcing Couple dealing with the marital home? In this interview, Dr. Sue Cornbluth, Clinical Psychologist interviews Certified Divorce Lending Professional (CDLP) and Certified Divorce Real Estate Expert (CDRE) Jason Gordon to discuss the need to properly craft a realistic plan between the divorcing parties...especially when it comes to the disposition of the marital home.This video is especially useful for Divorcing Homeowners, Divorce Attorneys, as well as any other Professionals enrolled in the divorce process along the way. The bottom line is that Divorcing Homeowners & Divorce Attorneys have strong resources available to … (4 comments)
equity buyout: Real Producers Interview w/ Jason Gordon "Beyond The Pages"
- 11/10/22 10:13 AM
In this brief video interview, learn the "why" behind why San Diego based Residential Mortgage Specialist Jason Gordon has chosen to dedicate substantial efforts towards helping Divorcing Homeowners and Homebuyers by earning all 4 of the following credentials: Certified Divorce Lending Professional (CDLP) Certified Divorce Real Estate Expert (CDRE) Certified Divorce Specialist (CDS) Real Estate Collaboration Specialist - Divorce (RCS-D)
To access Jason Gordon's CV, please CLICK HERE Special thanks to San Diego Real Producers magazine, and the incredibly professional and friendly staff at Beyond The Pages!
It bears noting that Jason Gordon offers services to prospective Borrowers regardless of their marital status (he just happens to assist … (0 comments)
equity buyout: Divorce - Impact of Child/Spousal Support on Loan Approvals
- 10/08/22 09:09 AM
When you combine Divorce with Mortgage qualifying, the challenges for a successful outcome increase dramatically. Factor in external economic changes like fluctuating interest rates and housing values, and the complexities intensify. So what is the impact of child and/or spousal support on residential mortgage loan qualifying? Let's begin with the basics...regardless of divorce, mortgage approval guidelines (at least partially) center around the proposed new cash-flow for the Borrower(s) who is (are) applying for the new mortgage loan. We use a term called Debt-to-Income (DTI) ratio to measure this angle of scrutiny. Quite simply, the DTI is a fraction, whereby the total proposed monthly debts … (2 comments)
equity buyout: Divorce Equity Buyouts - What Can Prevent Loan Approval?
- 02/05/21 03:19 PM
Pursuing a divorce amidst a global pandemic? Trying to retain ownership of the marital home and buy out your Ex? Surely, the Banks will go easy on you with lending guidelines, right? Not a chance. It’s been said that Banks will give you an umbrella when it’s sunny, then ask for it back when it rains. Translation, not only will Banks “not make it easy” when you are applying for a new loan under these conditions, but they will actually make it more difficult. Sadly, in many cases, perhaps the Borrower will make things more difficult on themselves unintentionally. Below are … (2 comments)
equity buyout: Divorce Equity Buyout - How To Pursue When You Want To Keep The Home
- 12/15/20 11:01 AM
When Homeowners decide to pursue a divorce, it is fairly common for one of the Divorcing Homeowners to want to stay in (and retain) the home. For purposes of gender neutrality, we refer to the Spouse who wants to stay in the home as the "In Spouse" and the Spouse who departs the home as the "Out Spouse". With the above in mind, there is typically at least 1 mortgage secured by the "marital home" which is often in the names of BOTH spouses. In addition to wanting his/her share of the equity in the home, the "Out Spouse" will typically demand … (1 comments)
equity buyout: 2021 Conforming Loan Limits - Realtor & Attorney Talking Points
- 11/28/20 11:33 AM
Fannie Mae & Freddie Mac have just announced their new Conforming and High Balance Conforming Loan Limits for 2021. If you are a Realtor, Financial Planner and/or Attorney, do you know how to articulate this great news to your Clients? Here are a few talking points:
There are 3 categories of loan types (based on the LOAN AMOUNT) Conforming High Balance Conforming Non-Conforming (Jumbo) The loan amounts have increased on each category as follows: Conforming was $510,400, increasing to $548,250 in 2021 High Balance Conforming limits vary significantly depending on county (see below for a few examples) Non-Conforming (Jumbo) limits vary depending … (4 comments)
equity buyout: Divorce Mortgage Tips for Homebuyers & Homeowners
- 11/11/20 08:58 AM
Let's face it, divorce is a tough emotional, financial and legal transition. Obtaining a mortgage can be complex as well. Combining the two can be even trickier...especially if one is unaware of certain divorce-related mortgage nuances.
Whether you are keeping the marital home (and "buying out" your ex-spouse) or seeking to purchase a different home, please keep these items in mind:
Mortgage Lenders never assume! While Lenders can forecast an approval, prior to funding your new loan, a Lender will need a definitive written agreement signed by all parties to clarify whether any monthly spousal support will be paid by either … (0 comments)
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Jason E. Gordon
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE
Author Bio: Jason Gordon is a Residential Mortgage Specialist in San Diego, CA. He combines ethics, education, and experience while helping Homebuyers and Homeowners to achieve their financial goals.View all AR Posts By Jason Gordon
Fannie Mae & Freddie Mac have recently announced their new Conforming and High Balance Conforming Loan Limits for 2024. If you are a Realtor, Financial Planner and/or Attorney, do you know how to articulate this great news to your Clients? Here are a few talking points:
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