home loans: What is Home Affordable Refinance Program HARP - 12/29/11 08:28 AM
WHAT IS Home Affordable Refinance Program (HARP)?
If you're not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through MHA's Home Affordable Refinance Program (HARP). HARP is designed to help you get a new, more affordable, more stable mortgage. HARP refinance loans require a loan application and underwriting process, and refinance fees will apply.

You may be eligible for HARP if you meet all of the following criteria:
The mortgage must be owned or guaranteed by Freddie Mac or Fannie … (0 comments)

home loans: HARP 2.0 has been Updated! - 12/29/11 08:09 AM
HARP 2.0 has been Updated!

The same day that lawmakers deluged the GSEs and their regulator with criticism, Fannie Mae and Freddie Mac finally released guidelines Tuesday for lenders and servicers about modifications to the Home Affordable Refinance Program (HARP).

The Obama administration ended weeks of speculation when it announced the modifications – specific to HARP 2.0, as dubbed by the media – in October.
Changes for the program included an end to the 125-percent loan-to-value ratio cap for refinancing homeowners, the elimination of risk-based fees for short-term borrowers, and an extension for HARP until December 2013.
New guidelines … (0 comments)

home loans: Tired of deals falling out that shouldn't have? - 12/19/11 11:54 AM
Tired of deals falling out that shouldn't have?
How to ensure a successful close of Escrow!
It is so easy to get caught up in all our escrows and forget the basic fundamental things that make a deal close in a timely matter. Have you had deals fall out that completely blindsided you? Maybe you were working with a client who had his/her own lender and your control was limited in that transaction.
From talking to my Realtor partners and listening to their horror stories I find some common things that took place. You know very few of those transactions seemed … (0 comments)

home loans: A divorce does not impact credit scores - 12/05/11 05:17 AM
Fact:  Divorce proceedings don't affect credit reports or credit scores directly. However, the financial issues that are embroiled in the divorce process often involve joint credit accounts, and those very much affect credit history and credit scores.
      Accounts are reported for each individual associated with that account, so if one spouse is listed as a joint owner, cosigner or authorized user, he or she must deal with that account prior to the divorce. That means closing the account completely or ensuring that one name is totally removed from the account.
      Many divorcing … (1 comments)

home loans: Tomorrow Thursday November 17th – Upland-Claremont Real Estate Professionals - 11/16/11 05:14 AM
Tomorrow Thursday November 17th  – Upland-Claremont Real Estate Professionals:
Buyer’s Credit Scores
What affects a buyers creditscore?  How does a short sale or foreclosure affect the credit? What portion of the credit score is based on zero balance accounts? Should those accounts be closed?  How can a buyer with bad credit increase their credit score in 6-12 months?
SHOWCASE YOUR LISTINGat the meeting tomorrow by replying to this email with your MLS listing link (public info) by 3pm today (Wednesday).
Education, Networking, Market Update, Virtual Home Tours,
Industry Announcements, Continental Breakfast, Raffle & More.
Featuring Starbucks Coffee

home loans: Real Estate Professionals please join us tomorrow! - 11/16/11 04:55 AM
Real Estate Professionals please join us tomorrow!

Join us at our Upland / Claremont real estate professional meeting for networking and education.


home loans: Did you know you can pull your own free credit report? - 11/04/11 06:46 PM
Did you know that you can pull your own free credit report once annually at www.annualcreditreport.com ?
Remember, by monitoring your own credit you can help keep your scores higher so that you qualify for better loans and better interest rates.

home loans: How can I run my credit with all 3 agencies for FREE and not have it hurt my credit? - 11/01/11 02:09 PM

From time to time I have Realtors and Clients call me to run their credit with Trans Union, Equifax and Experian and I don't mind doing this for them at all but I always want to make sure that my clients and Realtor Partners understand that you can get a free credit report without creating an inquiry on your credit simply by going to www.annualcreditreport.com. Remember, it is free to run all 3 agencies.
However, if you are wanting a fico score to come along with your credit report they do charge a small fee. I would suggest you skip … (2 comments)

home loans: How do you know if Fannie Mae or Freddie Mac owns your Mortgage? - 11/01/11 01:28 PM

I get this question all the time and the answer is simple. Go to http://www.fanniemae.com/loanlookup/ and type in your address, city, state, etc.  Just click the above address to view the site.
Why do you want to know if Fannie Mae owns your loan and can this tool be used for your clients?
The reason you may want to know if Fannie Mae owns your mortgage is because this information is helpful in regards to refinancing your home. Especially if the balance is high and you are trying to refinance using their Home Affordable Refinance Program for people with high loan to value … (6 comments)

home loans: Our Rancho Cucamonga Office has a Grand Opening November 10th 2011 - 11/01/11 09:16 AM
Come Join us for Food and Drinks and tour our new Choice Lending Office in Rancho Cucamonga.
When: November 10th
Time: 3pm - 7pm
Where: 9227 Haven Ave. Suite 300, Rancho Cucamonga, Ca. 91730
Email me to RSVP at daniel@clg1.net or call at 909-952-2882


Daniel Young, The Loan Doc (Choice Lending Corp)

Daniel Young

The Loan Doc

Rancho Cucamonga, CA

More about me…

Choice Lending Corp

Address: 9227 Haven Avenue, Suite 300, Rancho Cucamonga, Ca, 91730

Office: (909) 952-2882

Fax: (760) 780-4631



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