Lending / Financial

Buying real estate is even more challenging for those of us whose eyes glaze over at the mere mention of decimals, percentages or anything else that even hints of mathematics.


The financial aspect of purchasing the largest investment of your lifetime, though, is the most important. Nobody wants to lose money. Nobody wants to leave money on the table.


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Trending blogs on Lending / Financial
By Richa Nayyar
(Coming service)
Cyber-sports betting is getting famous with every passing day. Following statistics, online sports betting will host the number of $23.5 Billion by the year 2020. Therefore, it is a splendid opportunity to place a bet on esports such as เกมส์คาสิโน, horse riding, and cricket. Though if you are not convinced, we have some reasons regarding why cyber sports betting one of the eminent sports is betting your experience:Obviously… The cash reward:If you are curious regarding what makes cyber sports betting such a huge success. Do us a favor and look at the immense revenue and figures in the betting industry over the past years. Merge them with the values of the heading years, and the results will leave you speechless. The virtual sports industry made revenue of $462 million in the year 2016....
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By Karen Schimpf, When the Bank Says No, I CAN Get Your Deal CLOSED!
(Commercial Capital Ltd.)
cc:by:https://flic.kr/p/nES2C Businesses Needing Cash - Cash is KingBusinesses should always keep track of their cash situation and make sure they are really turning a profit. Don't be misled, if your debts are growing, if you are putting more and more debt on credit  cards, etc....you are probably losing money as a business. It is important to make sure your inflow of sales exceeds your outgo of expenses and ALWAYS try to keep a balance of cash in your accounts. Minimal cash means minimal opportunity but it also means, you  have less ability to handle disruption...there are a lot of businesses  that will not re-open this year because they went into this Corona shut down with no cash and had no ability to get past it. The PPP will help some but for many, the government "goodies" will be...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic news included readings on inflation, retail sales, and a speech by Federal Reserve Chair Jerome Powell. The University of Michigan released a preliminary reading of its Consumer Sentiment Survey; weekly readings on mortgage rates and initial jobless claims were also released.April Inflation and Retail Sales in Negative Territory Consumer prices fell in April to a negative reading of -0.80 percent and matched expectations. The Core Consumer Price Index, which excludes volatile food and energy sectors, fell to -0.40 percent from -0.10 percent in March. Analysts expected a reading of -0.20 percent. Consumer Price Indices are used for determining inflation rates.Retail sales also posted negative readings for April. Overall, retail sales fell by -16.40 percent as compare...
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By Patty Clark, Helping Families Move with Care
(Morningside Homes, LLC 720-231-5200)
  During the mortgage meltdown that caused the Great Recession a decade ago, some homeowners lost their homes to foreclosure or constructed a short sale to get out from under the debt.  In most of the cases, the lenders forgave all or part of the debt owed them. Similarly, in the early 90's after the failure of the Savings & Loans in the U.S., thousands of homeowners lost their homes in the same way but back then, the policy of the IRS was to consider the forgiven debt as income.  Today, it is still considered income which means that a homeowner could lose their home because they could not afford to pay for it and to make matters worse, they would owe income tax on the debt relieved. The good news is that in 2007, Congress passed the Mortgage Forgiveness Act and it has continued to be e...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
 Appraisal Waivers: What are They? Who's Eligible? Many changes surrounding residential appraisals have occurred recently.  Some have come as a response to the challenges presented by Covid-19.  Others were put into place prior to our facing current viral challenges.  In this article, I address only those changes made to appraisal requirements and options for Conforming Conventional Loans.  The following are what "Appraisal Options" can mean in those specific cases.   First, it should be pointed out before proceeding: No two loans (or borrower(s) are the same, so no blanket-statement can be made or cover every situation or appraisal requirements required in every transaction. Each scenario must be considered singularly and upon its own merit. So to simplify things a bit, moving forward ...
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By Laura Clark, The Best Realtors in Round Rock, TX!
(Clark Properties)
Your Tax Refund Can Get You One Step Closer to Homeownership Saving money each month toward a long-term goal is increasingly difficult for most people. Even committed savers can get thrown off track when unexpected problems or opportunities arise. It can be difficult to envision how $200 a month can add up to a new home; the dream of homeownership continues to get pushed back in favor of more immediate needs. For many of these potential homebuyers, their tax refund can be a big step forward in their saving goals. Received in a lump sum, a tax refund is easier to see as a meaningful dollar amount. The average IRS refund in 2019 was almost $3,000. This, added to an already growing savings account, can be a great bonus. In addition to adding to your down payment fund, a tax refund can also...
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By Raymond Henson, eXp Realty, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
A couple years ago, we were buying a house in Reno.  The market was hot and when the lender tried to schedule an appraiser, the first day an appraiser could be at the property was 30 days out, a problem because we had a 30 day escrow.  My local lender advised me to ask if a waiver was possible.  I asked the Reno lender about a waiver.  Let's just say there was a bit of good natured laughter.  I said please check.  A few minutes later, I received a call back.  Right in their paperwork, appraisal waived.  It saved me heartache and a few bucks.  It never hurts to ask.  I have personally received two appraisal waivers.  Great article below by Gene Mundt.   Appraisal Waivers: What are They? Who's Eligible?   Many changes surrounding residential appraisals have occurred recently.  Some have c...
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By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
How Hard Is It to Refinance a Mortgage?  On a weekend morning you wake up:A)  Before 6AM.B)  Before 8AM.C)  Before 10AM.D)  Yeah, yeah, I'm awake... It's time to take out the trash when:A)  Pickup is the following day.B)  The level of trash is approaching the top of the trash can.B)  The level of trash has crossed the plane of the top of the trash can.C)  Expert levels of jenga skill are required to balance your trash on the top of the steaming heap. If you answered "D" to either of the above, and you have a mortgage in California, this blog post is dedicated to you.  You may be sitting on a pile of savings but are also concerned that refinancing your home loan may be too difficult or expensive, require tons of paperwork and inconvenience and may even end up in failure.  So let's get se...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
 Mortgage Forbearance: The Who, What, When, Where & How  No one knowingly buys a home envisioning that financial hardships lie ahead ... Yet hardships and challenges come even when planning and preparations have been made.   Those are the circumstances that many American homeowners now find themselves in.  The COVID-19 virus has delivered them to their home's door.If you are one of those Americans that have been negatively impacted financially, either via loss of employment/work hours, income loss, other financial stresses, or health considerations due to COVID-19 ... you are definitely looking for a dose of good news.  And thankfully, there is some to share. A large percentage of U.S. homeowners ... about 70% ... hold mortgages that are federally backed (Government-Sponsored Enterprise...
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By Joseph Doohan, I offer business strategy advice for realtors
(Joseph Doohan)
    Arriving Summer of 2020:  The New FICO 10 Scoring Model Here's What to Expect ...     Hotter temperatures aren't the only thing that will soon be rolling in.  A hot new FICO Scoring model will also make its entrance at some point during the upcoming summer months ...  A new credit scoring model isn't that surprising of a development.  Since its inception in 1989, FICO Scoring has evolved and changed many times.   This new and latest version, called "FICO Score 10 and FICO Score 10 T", is to be released to credit bureaus this coming summer or early fall.  It will feature some broadened elements to the calculation of credit scores.The latter version ... FICO Score 10 T ... will utilize what is called "trended data".  As the tag-name suggests, this scoring model will use a wider scope...
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By Nina Hollander, Broker, Your Greater Charlotte Realtor
(Coldwell Banker Realty)
 9 Things You Need To Know About Getting A Mortgage In The COVID-19 Environment Just as the housing market has seen big changes in the COVID-19 environment when it comes to how we can or can't show homes, meet with out clients, etc. we are also seeing changes in the mortgage markets as a result of COVID-19. Here's what I've been hearing from some of my best Charlotte area lenders -- 9 changes you need to be aware of as they might very well impact your ability to get a mortgage or close on a home on time. FHA Premium Changes: buyers with low credit scores (600-640) may now have to pay points to be eligible for an FHA loan. Obviously, that means the cost of your loan is now higher. Lenders Requiring Higher Credit Scores for FHA Loans: some lenders have increased the minimum scores for an ...
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By Susan Jacobs CDRE, Gainesville,VA Certified Divorce RealEstate Expert
(Samson Properties)
My name is Susan Jacobs and I am a realtor with Samson Properties in Gainesville Virginia. This is my Monday Mortgage update May 11, 2020. Today I would like to talk about different types of mortgages commonly used to finance a home. That would Conventional Mortgages, F.H.A. Mortgages and VA Mortgages. Let me give a brief explanation of the differences .A Convention mortgage is a mortgage that is not obtained under a government issued program. In Northern Virginia the loan limit is $510,400 anything above that is considered a Convention Jumbo Mortgage.A F.H.A mortgage is a mortgage that is insured by the Federal House Administration. They are a federal agency that insures first mortgages enabling lenders to loan a very high percent of the sale price. While loan limits can change as of 2...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
Last week’s economic releases included readings on public and private sector employment, the national unemployment rate.Economic Destruction Continues as Coronavirus SpreadsADP reported 20.2 million private-sector jobs lost in April as compared to 149,000 jobs lost in March. The government’s Non-Farm Payrolls report showed -20.5 million public and private-sector jobs lost in April as compared to -870,000 jobs lost in March. Both of these jobs reports typically show job growth, but they now report jobs lost due to the coronavirus pandemic and efforts to control it.Likewise, the national unemployment rate grew in April to 14.70 percent as compared to the normal reading of 4.40 percent in March.Mortgage Rates Mixed as New Jobless Claims FallFreddie Mac reported higher average mortgage rate...
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By Bob Elliot, 20+ Yrs Industry Experience
(eXp Realty)
  Some Highlights Taking a moment to reflect upon what we’ve heard from historical leaders can teach us a lot about getting through the many challenges we face today. We're all eager for the day when every American can safely return to work. That day is coming. Timing is everything. Patience is essential. Our courage, strength, and unparalleled resilience will get us there.
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By Karen Schimpf, When the Bank Says No, I CAN Get Your Deal CLOSED!
(Commercial Capital Ltd.)
 https://flic.kr/p/CvgJuo   Equity Loan – How to Tap the Equity In A Commercial Property WITHOUT Refinancing!   You know the situation…..client owns a property that cash flows nicely and has appreciated in value but it has a HUGE pre-payment on it like Defeasance or Yield Maintenance. You don’t want to sell it yet and the large pre-payment penalty prohibits you from refinancing. What do you do? How about an Equity Loan.   How about tapping the equity with a equity loan against the shares? WE NOW HAVE A PRODUCT THAT CAN GIVE YOU A LOAN AGAINST YOUR PERCENTAGE OF OWNERSHIP, YOUR SHARES, RATHER THAN THE PROPERTY ITSELF. This loan will not show up on the title and will not trigger any clauses in the documents. You essentially pledge your minority interest to tap QUICK CASH. This works great...
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By DEANNA C. SMITH CERTIFIED MOBILE NOTARY, Highest Ranked Certified Mobile Notary in Virginia
(Certified Mobile Notary Signing Agent)
My name is  DEANNA EARLY  and I am the Mortgage Loan Originator for Franklin County, Virginia and the surrounding areas including the unincorporated areas of Roanoke County.   I have over 30 years in the mortgage industry creating and closing Virginia home mortgage loans and refinances.   I am Nationally Licensed ( #268590 ) by the NMLS.I do refinancing for existing homes anywhere in the state of Virginia.   If you are thinking about refinancing your home, there are many questions and considerations to think about BEFORE  proceeding.   Contact me so we can sit down and go over your various options together to formulate a plan.Are you looking for cash out for a major purchase or are you needing a small amount of money for a project around the house that a home equity line might be better...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  I think the understanding of what the difference is between a pre-qualification and a pre-approval letter is very important, especially in today's market. I am finding to many consumers that have been led that they were pre-approved, when they were hardly pre-qualified. If a loan officer or the lender hasn't collected your pay stubs for 30 days, 2 months worth of bank statements, and at least your W-2's... and, that you haven't filled out a mortgage application...  Then you aren't officially pre-approved.   Thanks, Jeff Belonger   To RE-BLOG this post, please go to : http://activerain.com/73570/The-difference-between-a     Do you know the difference, as a consumer or even as a realtor? It can be deceiving when shopping for a home, because you might think that you are fully approved, b...
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By David Jackson, MBA, Financial lending analyst
(Olympus Labs)
Are you looking for ways to lower the interest rate of your home loan? Maybe you want to reduce the monthly payments on your car loan? You might want to consider loan refinancing .Read on to learn more about refinancing loans and the benefits of the process.What Does It Mean To Refinance Loans?Refinancing a loan is essentially a process of paying existing loans off with brand new loans, which have lower interest rates.Borrowers often refinance loans to receive lower interest rates or to reduce the monthly repayment amount.If you are struggling to pay off your loan, you can also use refinancing for a longer-term loan with lower monthly installments. The total you repay will increase because you’ll have to pay the interest for a longer period.A refinancing process involves a re-evaluation...
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By Dennis Dahlberg Broker/RI 623-582-4444
(Level 4 Funding )
Getting Together Your Trust Deed Investments San Diego  Investing in Trust Deeds is wonderful. We truly believe that, but there’s definitely an art to it. We like to think that it’s important to truly understand the world of Trust Deed Investments San Diego before you really get into the meat of it. Otherwise it can make for a hard process to undertake. Understand what you need to do before you do it. Knowing the basics is important when it comes to trust deed investing because it is such an involved process that knowing what you need before you need it would be beneficial to the entire process.So, before you go ahead and dive on in to the world of trust deed investing you should make sure that you have those basics down because that’s really going to be helpful in the long run.Being su...
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