finances: Why Are More Loans Are Being Denied in 2010? - 09/20/10 10:11 AM
So, why are more loans being denied in 2010?
 
Prior to 2003, underwriters were required to dot the “i”s and cross their “t”s.  Then all heck broke loose and about anyone who could fog a mirror, was able to get a mortgage.Well, the pendulum has swung back the other way.  Fannie, Freddie, FHA and even VA have issued more stringent rules and regulation updates in the last 24 months.  The last big shake up like this was back in the early 80s, with the savings &; loan crisis!  So, what are the 6 top reasons why more loans are being … (2 comments)

finances: Mortgage Insurance – When Can It Be Cancelled? - 04/27/10 10:23 AM
When can you get rid of your Mortgage Insurance?
WHAT IS MORTGAGE INSURANCE?
If you have a conventional mortgage, and put less than 20% down when you purchased your home (or less than 20% equity when you refinanced your home) your monthly payment includes “mortgage insurance”.Depending on your interest rate, for a 30-year term mortgage and if you put 5% down payment, it will take approximately 11 years to reach 78% loan to value; with 10% down, it will take about 9 years, and with 15% down, 6 years. If you have an FHA mortgage, mortgage insurance is automatically included in … (0 comments)

finances: How will the Changes in Credit Card Rules Affect You? - 04/27/10 07:12 AM
Changes in Credit Card Rules?Why does your credit card statement look different these days?  Why did you receive a 15-page disclosure from your credit card company? The Credit Card Accountability, Responsibility and Disclosure Act (commonly known as CARD – clever, huh?) required companies to change the way they did business!  Here are some (not all) of the rules that went into effect on February 22, 2010. What Has Changed
Cannot Raise Your Interest Rate for 12 months—unless you are late making your minimum payments.  
Cannot charge you a fee if you exceed your credit limit – You now have to … (2 comments)

 
Katrina Cole, Inlanta Mortgage, Business Development Manager (The Jonathan Arnold Team of Inlanta Mortgage)

Katrina Cole

Inlanta Mortgage, Business Development Manager

East Grand Rapids, MI

More about me…

The Jonathan Arnold Team of Inlanta Mortgage

Address: Grand Rapids, MI, 49506

Mobile: (616) 350-5515

Email Me

Bringing the important financial news to you in words that we can all understand from the professionals you trust. Throw out the lingo and know the facts. Take some time to learn some new marketing strategies and new technology with our featured posts. It is not about what and how much you know, it is how you choose to share and utilize that knowledge. Katrina Cole; taking your from invisible to Visible!


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