Lenders are subject to extreme scrunity at the moment. Above average defaults can have drastic consequences - and no lender is immune. This has led to over the top caution and excessive documentation and underwriting requirements. Well, it is what it is, so to deal with it I have improved my service by appointing a dedicated processor to provide personal client support to so that all conditions can be met quickly and smoothly! /// Rates continue to be at or near historic lows. Given the eternal optimism that is inside all of us we believe they are here to stay (or go lower yet). Again, the writing is on the wall for higher rates next year! The Fed buys approx 80% of all mortgage loans now, will stop doing this by March, and there are few other buyers at current price (interest rate) levels! (Re-)finance now! Read more. /// Make it a good week folks! - Paul :))
620 is now the standard
New Fannie requirements are now in effect. The Fico standard for FHA and conventional loans is now 620. Note that I still have sub-620 solutions (500-619), even at market rates!
New Fannie requirements are now in effect. The Fico standard for FHA and conventional loans is now 620. Note that I still have sub-620 solutions (500-619), even at market rates!
Forbes: Commercial real estate will collapse
The commercial real estate market is on its last legs and unless drastic actions are taken, the effects on the broader economy will be catastrophic. The obvious problem is the excessive amount of debt placed on the properties and the amount of debt that has to be refinanced during a short period of time. Read more.
The commercial real estate market is on its last legs and unless drastic actions are taken, the effects on the broader economy will be catastrophic. The obvious problem is the excessive amount of debt placed on the properties and the amount of debt that has to be refinanced during a short period of time. Read more.
AVAIL - Self managed credit repair and improvement
Credit repair, rescore, and credit coaching - the 3 pillars for improving and maintaining credit scores - all in one! Check out AVAIL. It helps you understand your credit profile, and puts you in charge of your own improvement plan. Video. Contact me for assistance.
Credit repair, rescore, and credit coaching - the 3 pillars for improving and maintaining credit scores - all in one! Check out AVAIL. It helps you understand your credit profile, and puts you in charge of your own improvement plan. Video. Contact me for assistance.
New York City's smallest apartment
Purchased for $150,000 three months ago, the co-op is 14.9 feet long and 10 feet wide and is on the 16th floor of a building on 110th Street, but, get this — it’s only accessible by a staircase from the 15th floor. Read more.
IRS to outline changes to the home buyer tax credit program
Revisions include expanded income limits, a cap on home prices, additional documentation requirements and prohibitions against claims by dependents. Read more.
Revisions include expanded income limits, a cap on home prices, additional documentation requirements and prohibitions against claims by dependents. Read more.
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"Failure is success if we learn from it"
Malcolm Forbes (1919-1990)
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