It is common for a mortgage to be sold to another company for servicing. As a result, scammers have realized that they have an opportunity to earn some quick cash by sending people bogus letters stating that they have taken over the account, and all future payments should be sent directly to them.
If you receive such a letter and your current creditor did not notify you that your loan was transferred, do not send your payment. Confirm the transfer directly with your existing mortgage company or contact your Loan Officer, warns Tim Carroll, Branch Manager at CMG Financial in Rohnert Park, CA. … (0 comments)
Getting a home loan today is tougher than it has been in the past. Lenders, like Tim Carroll at CMG Financial, are required to follow a plethora of rules and regulations to ensure and prove they are funding qualified loans to responsible borrowers. Here is what you need to know if are trying to qualify for a loan as a self-employed borrower.
Verifiable Income – Tracking your income is generally more complicated when you’re self-employed. Forms usually associated with tracking income for the self-employed include Schedule C, Form 1120S or K-1 depending on the structure of your business.
Organization – Have your past tax documents … (0 comments)
home loan: Housing Market Growth For 2015
- 07/23/15 03:50 AM
How the Housing Market is Faring July 23, 2015 According to HousingWire, home sales increased 11.4% in June compared to the same time last year. So far this year, 2015 has seen an increase in housing activity in both the buyers’ and sellers’ markets. Also worthy of note, foreclosures have decreased and homebuilder confidence is rapidly increasing. So what does this all boil down to? These three items are the driving reason behind 2015 thus far going down as a year of growth. Trends are improving and the market is stabilizing. When foreclosure activity is limited and mortgage applications are moving up, it … (0 comments)
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