What Private Mortgage Insurance and why do I have it? Years ago when your grand parents bought a home they saved each extra penny they could until they had enough for a down payment that was equal to at least 20% of the …
After a three year period (2004 -2007) of declining credit standards the mortgage lending industry has had to fight and claw its way back into good graces with both their regulators and investors. All this while swimming in a sea …
Where’s the Best City in America to get a Mortgage? Read more »
Because of the plethora of natural disasters across the country it occurred to me that there may be a lot of Buyers and Sellers whose purchase or sale or mortgage refinance has been delayed for reasons they simply do not understand. This post is intended to be an …
FEMA Declared Disaster Area – Loan Application in Process Read more »
While many Realtors and Developers say about other communities Heritage actually backs that up with irrefutable data! Don’t take my word for it, just check out the Triangle Area Residential Real Estate Report which for May 2011 sales…Read More
Recently the word Republican, like “Banker” has been used interchangeably to disparage and slander (and is often incorrect) my business but what made this stand out to me was how he said it. It was almost as if it was a disparaging remark and he was sorry for having used it!
A question that I am frequently is “What documents do I need to apply for a mortgage?” While it is not a comprehensive list, it is a good staring point and will show your lender that you are serious, prepared …
Due to the recent crisis of confidence by mortgage investors the zero down-payment loan programs disappeared faster than a keg of beer at a frat party! Apart from VA and USDA Rural Development loans there are very few true 100% …
Inflation Higher There was a lot of volatility during the middle of the week, but mortgage rates ended nearly unchanged. Weak manufacturing data offset higher than expected inflation readings. Similarly, increased social unrest in Greece early in the week was …
A Chapter 13 bankruptcy does not disqualify a borrower from obtaining an FHA-insured mortgage, provided that the lender documents that one year of the pay-out period under the bankruptcy has elapsed the borrower’s payment performance has been satisfactory and all required payments …
Underwriting Tip – Bankruptcy Waiting Periods – FHA Read more »
FHA – Requires terms of withdrawal on all 401K funds that are provided even if the funds are not being used or withdrawn at closing. Generally these terms are available for download from an HR Web Portal. Persons employed by …