As a mortgage lender since 1998 I have helped literally thousands of … More How to Prepare for Your Move
Contents7 Questions Every Borrower SHOULD ask a Loan Officer#1 How long have you been a mortgage lender? 7 Questions Every … More Seven Questions to Ask any Loan Officer
According to findings by the Autism Society this year 1 in 68 births will be affected by Autism spectrum disorders.
With such staggering numbers it’s probably no surprise that my own son has disorders which have recently been added to the spectrum so it hits pretty close to home for me. Additionally, one of my co-workers is also impacted by Autism which is why he created this video:
Continue reading Buy a Home in North Carolina & Help Fight Autism
In this Google Hangout we discuss the recent changes to the USDA Rural Development Loan Program
What Is A CLUE Report?
Most of us are familiar with CarFax. We see the commercials all the time with the Fox puppet following the prospective car buyer around warning the buyer not to purchase the car before purchasing a detailed report on the vehicle. Believe it or not, there is a similar system that insurance carriers use for buildings, homes and the people that insure them.
Continue reading What is a CLUE Report and how could it impact my mortgage?
Contrary to many schools of thought there are still mortgage loan programs which permit the use of gifted funds for … More When are Gift Funds Allowed?
The new federal agency Consumer Finance Protection Bureau’s (CFPB) Qualified Mortgage & Ability To Pay (ATR) regulations require mortgage lenders in Raleigh and Cary and all other US markets to clearly establish and document a borrower’s ability to be expected to repay the loan they have agreed to make, as well as to meet certain rules to be classified as a Qualified Mortgage. Continue reading FAQ – What is a ‘Qualified Mortgage’?
Regardless of whether you believe that the so-called Great Recession was caused by reckless and irresponsible mortgage lending or government perversion of free markets by encouraging banks to make risky mortgage loans to people with questionable credit and practically no down payment or a combination of the two, one thing is irrefutable;
The government has created a whole new bureaucracy called the Consumer Protection Financial Bureau (CFPB) whose authority is far reaching and made possible by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).
New Mortgage Escrow Rules for January 2014
Nearly three years after passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act , a response to the mortgage crisis of 2007-2008 that has left millions of Americans licking their financial wounds from foreclosures and short sales; new escrow rules are published today that will go into effect January 1, 2014 and will impact those who have a “higher-priced mortgage loan”. Continue reading New Mortgage Escrow Rules for January 2014
One of the most common cause of foreclosure is misstated or overstated income. Since the mortgage meltdown of 2008, and because of increased accountability to Washington, lenders are now required to take extra steps to verify that borrowers have the ability to pay. Continue reading FAQ – What is a IRS Request for Transcript of Tax Return (4506t)