loan application: 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 Fair Oaks, CA 484-680-4852 (Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI)

John Meussner

#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Fair Oaks, CA

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Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI

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

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