Posts Tagged "borrower"

Why reverse mortgages can be problematic after borrower dies

on Dec 15, 2015 in FHA Information | Comments Off on Why reverse mortgages can be problematic after borrower dies

Obama Program Said to Reject 72% of Mortgage Relief Requests Not exactly. "Bidding wars, page mind a hallmark of last decade's housing boom, are making a comeback in a number of metro areas across the U.S.," writes Wall Street Journal reporter Kris Hudson. That includes thriving cities like San Francisco, Seattle and Denver. If you would like more informaiton please visit here… Obama Could Lop Hundreds Off Your Monthly Mortgage Payment HARP, the Home Affordable Refinance Program, was passed in 2009 by the Federal Housing Finance Agency (FHFA) as a way to help homeowners better manage their mortgages. It helps people with negative equity (“underwater”) properties refinance at … More informaiton please visit here… Making Home Affordable Program hasn't helped enough, some say (CNN) — When President Obama unveiled the Making Home Affordable Program in March, he said it would help "responsible folks who have been making their payments" reduce their monthly mortgage bills and avoid losing their homes to foreclosure. More informaiton please visit here… We're destroying a generation of students: The disastrous effects of our … … $ 28 million in loans for 1, order 312 former Corinthian Colleges students exploited by the now-defunct for-profit chain is a laudable start, but more must be done. Specifically, while federal loans offer employed graduates options like forbearance and … If you would like more informaiton please visit here… OPINION: Re-establishing the Postal Savings Bank These alternative “fringe banks” charge outrageous interest rates and fees — millions of Americans turn to fringe banks each year, which allows them to bring in $ 40 billion a year in high-interest loans. Where are … According to Bloomberg, from 2008 … More informaiton please visit here… Quicken Loans considers quitting FHA loans According to a report from Reuters, buy information pills Quicken Loans, which is currently the largest FHA lender, is considering ending its participation in FHA lending entirely, citing the government's aggressive enforcement policies as the main reason for potentially … If you would like more informaiton please visit here… FHA is on the rise in the DC-area housing market An FHA loan, provided only by FHA-approved lenders, is a loan that is insured by the Federal Housing Administration, reducing risk for loan providers should the borrower default on mortgage payments. With maximum loan values in place, these loans are … More informaiton please visit here… FHA reforms too meager to matter If you're a first-time buyer with a moderate income and not much cash for a down payment on a condo, the availability of Federal Housing Administration financing is a big deal. Not only do you need just a 3.5 percent down payment, but the FHA is also … More informaiton please visit here… Why reverse mortgages can be problematic after borrower dies "Another three-month extension is generally pretty easy to get as long as somebody will be selling the house and is maintaining it, more about " said Patricia Wills, president of Retirement Life Funding, a reverse mortgages broker in Silver Spring, Md. "Then they … If you would like more informaiton please visit here… A potential drastic change to the industry “If they go away, it dramatically changes everything; it means the big banks will have to hold more mortgages on the books and there could be a resurgence of sub-prime lenders, which led to the collapse,” Israel said. “It will impact how individual … More informaiton please visit here… Grants can help you make your down payment The loan amount includes the FHA financed mortgage insurance or VA funding fee for owner-occupied California single-family homes, townhomes or condos. You do...

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How Income-Driven Student Loan Repayment Helped One Borrower — and What It

on Jul 27, 2015 in Stated Income Loans | Comments Off on How Income-Driven Student Loan Repayment Helped One Borrower — and What It

30 Year Mortgage Rates at US Bankcorp, order visit this Wells Jul 18, treatment 2015 The benchmark 30 year FRMs are 4.500% at US Bankcorp (NYSE:USB) with an APR of 4.673% today. 30 year FHA fixed rate mortgages have been offered at 4.375% with a bit higher APR of 4.879%. The best 30 year jumbo FRM interest rates at the bank are … For more informaiton please visit here… House Hunting? 3 Mortgages That Require Less Documentation The Interest Rate Reduction Refinance Loan (IRRL) mirrors the FHA Streamline Refinance where no debt to income ratio is calculated and no appraisal is required. Generally, to be eligible for any one of the three mortgage loan programs you'll need at … For more informaiton please visit here… Renewal of US government home refinance program unlikely: Watt WASHINGTON A top U.S. housing official on Thursday said it was "highly unlikely" that a popular government home refinance program designed to help underwater borrowers would be renewed after it expires at the end of this year. The Home Affordable … For more informaiton please visit here… How 3 Million Homeowners Could Save 0 a Month The report found that, viagra 60mg between traditional refinancing programs and the federal government's Home Affordable Refinance Program (HARP), more than 6.5 million borrowers probably could qualify for and benefit from refinancing. Ben Graboske, senior vice … More informaiton please visit here… FACT SHEET: Administration Announces New Initiative to Increase Solar Access … These new actions build on President Obama's goal to train 75,000 workers to enter the solar industry by 2020 and the Solar Ready Vets program that will train transitioning military personnel for careers in the solar industry at 10 military bases … More informaiton please visit here… the little bank releases second quarter earnings today | Business Wire Unaudited net income for the first six months of 2015 increased 10% to $ 1, viagra dosage 489, treatment 000, or $ .48 per basic share compared to earnings of $ 1,357,000, or $ .44 per basic share for the first six months of 2014. The Bank recorded no provision for loan losses … For more informaiton please visit here… First Merchants Corporation Announces Second Quarter 2015 Earnings Per Share … Michael C. Rechin, President and Chief Executive Officer, stated, “The second quarter of 2015 was active and exciting including the full integration of Community Bank, the legal closing of Cooper State Bank, the sale of First Merchants Insurance Group … If you would like more informaiton please visit here… Treasure State Bank Reports Second Quarter 2015 Operating Results – CNN Money Earnings, before non-cash expenses of depreciation and amortization, loan loss provisions, real estate owned write-downs, stock option expense and income tax benefit were $ 159,000 ($ 636,000 annualized) for the quarter ended June 30, 2015, as compared … For more informaiton please visit here… This Is The Loan Program With The Lowest Mortgage Rates Today – The Mortgage … What are today's mortgage rates? It will depend on your loan. VA loans are giving the lowest mortgage rates in today's market, visit this followed by FHA loans, illness and then, stuff finally, conventional ones. June marks the 14th straight month in which VA mortgage rates … More informaiton please visit here… Mortgage Rates Lowest In CA, WA; Highest In FL, TN – The Mortgage Reports Rates for VA loans or FHA loans, which are backed by the Department of Veterans Affairs and the Federal Housing Administration, respectively, are also not included but VA mortgage rates and FHA mortgage rates are typically lower than conventional ones … More informaiton please visit...

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Q&A: Does a mortgage loan go off of the single borrower or the total household income?

on Apr 21, 2014 in Stated Income Loans | 1 comment

Question by windee1026: Does a mortgage loan go off of the single borrower or the total household income? Only one will be getting the loan but there will be two incomes paying it back Best answer: Answer by AceSince the single borrower is getting the loan, this medicine the mortgage company will only use the income from the single borrower. The single borrower is signing the contract and is responsible for the loan. According to the mortgage loan contract the single borrower is the only person that agreed to pay on the loan. What do you think? Answer below! Q&A: Does a mortgage loan go off of the single borrower or the total household...

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How Much Money Should A Loan Officer Make On Your Mortgage?

on Oct 26, 2013 in Stated Income Loans | Comments Off on How Much Money Should A Loan Officer Make On Your Mortgage?

Liar, what is ed Liar, Pants On Fire”liar Loans” Lead To A Spike In Mortgage Foreclosures Who are stated income mortgage loans m?ant for? For the most part, this loan is for the self em?loyed borrower who c?nnot document all ?f the income ?r shows a v?ry low net income on the tax return. In ad?ition, a stated income mortgage loan ?s great for ? person who e?rns some salary but also cash that is not docum?nted anywhere. An example would be ? waiter, bar ten?er, valet parking atten?ant, limo driver, etc One other t?pe of borrower who may opt f?r a stated in?ome mortgage loan ?s someone who coll?cts rental income but does not h?ve signed leases to verify that in?ome stream. Stat?d income mortgage loans are making ? slow comeback and it is ? good thing. The lending regulations ?n our opinion were over-tightened. Now, y?u have legitimate ?elf employed borrowers who cannot get ? loan. That ?s a problem which needs to be fixed. If ?ou are not ?oing to bring ?tated income loans back in Stated Income Loans full force, then the full documentation guidelines need to change for self employed borrowers. They should use the gross ?ncome (or somewhere ?bove the net) ?n the tax returns for qualification ?urposes. Salaried borrowers ?re showing gross ?ncome before tax ?eductions and so should self employed borr?wers. In Florida, you ne?d to find ju?t the right pers?n who knows h?w to get the best stated income self employed loans possible. If y?u are a self-empl?yed borrower in Flor?da then you wi?l have your own set of issu?s getting a mortg?ge that other peop?e may not have. One of ?ur professional Florida mortgage specialists can help you with ?our stated income ?oan and get ?ou the house that you have ?our eye on. Don’t let the fact that you ?on’t have a W2 job and that your loan will be paid ?ff using self ?mployment fund stop ?ou from getting ?nto the home ?f your dreams. A problem presented it?elf because loan modifi?ation companies were charging homeowners upfront f?es to begin working on these modific?tions. The fact ?s that too m?ny consumers were ?n financial distress and requesting modifications and certain loan modification companies did n?t have enough personnel on staff to handle all ?f their clients. As a result, th?y were unable to complete as many modifications as there were requests f?r modifications. The governm?nt of California step?ed in and wrote new loan modification regulations that stat?d it would be unlawful to char?e upfront fees ?f anyone in foreclosure requesting to chan?e the terms ?f their loan 100% LTV – r?duced documentation programs were designed by “profiling” borrower types. The t?pical profile of ? stated income a?plicant was a b?rrower with irregular income because he/she e?rned seasonal or c?mmission income, and was typically self-employed. Appl?cants were qualified u?ing their “stated “ annual income for the previous two years. Loans were underwritten and closed under this honor sy?tem, as lenders typ?cally did not verify a borrower’s st?ted earnings with the IRS. Stated in?ome was also ext?nded to wage earners at 100% LTV with FICO min?mums set as ?ow as 580. Primary, se?ond, and non-owner residence?. How Much Money Should A Loan Officer Make On Your...

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How Important Is A Borrower’s Income In Getting A Home Loan? What Kinds Of Income Qualify?

on Oct 22, 2013 in Stated Income Loans | Comments Off on How Important Is A Borrower’s Income In Getting A Home Loan? What Kinds Of Income Qualify?

Stated Income/Stated Assets Loans Are Growing In A problem presented it?elf because loan modifi?ation companies were charging homeowners upfront f?es to begin working on these modific?tions. The fact ?s that too m?ny consumers were ?n financial distress and requesting modifications and certain loan modification companies did n?t have enough personnel on staff to handle all ?f their clients. As a result, treat th?y were unable to complete as many modifications as there were requests f?r modifications. The governm?nt of California step?ed in and wrote new loan modification regulations that stat?d it would be unlawful to char?e upfront fees ?f anyone in foreclosure requesting to chan?e the terms ?f their loan In Florida, cost you ne?d to find ju?t the right pers?n who knows h?w to get the best stated income self employed loans possible. If y?u are a self-empl?yed borrower in Flor?da then you wi?l have your own set of issu?s getting a mortg?ge that other peop?e may not have. One of ?ur professional Stated Income Loans Florida mortgage specialists can help you with ?our stated income ?oan and get ?ou the house that you have ?our eye on. Don’t let the fact that you ?on’t have a W2 job and that your loan will be paid ?ff using self ?mployment fund stop ?ou from getting ?nto the home ?f your dreams. 100% LTV – r?duced documentation programs were designed by “profiling” borrower types. The t?pical profile of ? stated income a?plicant was a b?rrower with irregular income because he/she e?rned seasonal or c?mmission income, cheapest and was typically self-employed. Appl?cants were qualified u?ing their “stated “ annual income for the previous two years. Loans were underwritten and closed under this honor sy?tem, as lenders typ?cally did not verify a borrower’s st?ted earnings with the IRS. Stated in?ome was also ext?nded to wage earners at 100% LTV with FICO min?mums set as ?ow as 580. Primary, se?ond, and non-owner residence?. Stated income mortgage ?oans – A ?tated income mortgage ?oan was designed for borrowers who ?an’t verify their ?ncome with traditional ?ncome documentation, typically these borrowers are ?elf-employed or work for tips have s?asonal employment or work on commission. A stated income m?rtgage loan is ? good option ?f you would have difficulty proving ?our income The income that you state on the m?rtgage application must be average in ?our occupation and a?sets are generally verified. This means that if you ?re a waitress ?nd you say ?ou make $10,000 ? month it may raise some e?ebrows in underwriting. Who are stated income mortgage loans m?ant for? For the most part, this loan is for the self em?loyed borrower who c?nnot document all ?f the income ?r shows a v?ry low net income on the tax return. In ad?ition, a stated income mortgage loan ?s great for ? person who e?rns some salary but also cash that is not docum?nted anywhere. An example would be ? waiter, bar ten?er, valet parking atten?ant, limo driver, etc One other t?pe of borrower who may opt f?r a stated in?ome mortgage loan ?s someone who coll?cts rental income but does not h?ve signed leases to verify that in?ome stream. How Important Is A Borrower’s Income In Getting A Home Loan? What Kinds Of Income...

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