assets: What are 'reserves'? When are they important? - 07/23/14 07:18 AM
What are reserves?  When are they important?
 
 
What are reserves?
 
 
     Reserves, in the mortgage industry, refer to a borrower's assets AFTER the closing of a new loan.  Basically, if the borrower were to lose all income, how much in reserve do they have to continue to make mortgage payments.  Reserves differ from assets, because while some reserves are assets, not all assets are considered reserves.
 
     Generally speaking, reserves are assets which a client can get access to and pull from.  It can get complicated when talking about some types of assets such as retirement … (5 comments)

 
John Meussner, #MortgageMadeEasy Walnut Creek, CA 484-680-4852 (Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA,) Ambassador large

John Meussner

#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Walnut Creek, CA

More about me…

Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA,

Address: 23441 S Pointe Dr, Ste 110, Laguna Hills, CA, 92653

Office: (949) 247-7530

Mobile: (484) 680-4852

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog