what are some acceptable reasons for employment gaps for a home loan underwriter?

Posted on Dec 26, 2012 in Stated Income Loans

A few nice condominium images I found:

Condominium windows 3
condominium
Image by tanakawho
Lights from condominium windows. Pushing the shutter, thumb cure I swang my camera. Rather intriguing outcome, online more about is not it?^?^??

For much more properties click right here…

Condominium windows 1
condominium
Image by tanakawho
Lights from condominium windows. Pushing the shutter, I swang my camera. Really interesting outcome, is not it?^?^??

Much more fantastic houses click right here…
Question by Emmu: How wise would it be to try to buy a home when I possess bad credit?
My fiance and I want to buy a home but our credit is not good. His is better (in the high 600) and mine is in the low 600. Would it be better to wait until our credit improves to buy a home(this might take years) or to try and buy a home now and face higher rates?

Best answer:

Answer by bishop_larry
I would try an interest only loan for 3-5 years, diagnosis this would enable a decent payment even with a high interest rate. Show the lender a good payment history and refinance at a later date. Depending on your current rental costs the interest only mortgage pmts might be similar.

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Home Sweet Home
Of those refinance applications, salve 29 percent of them in the first week of December were applied for through the federal Home Affordable Refinance Program (HARP). That program, of course, is the one set up to help people who are having trouble paying …
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Question by sparklle0913: If I make 48, stuff 000 a year, more about can i be qualified to buy a house that ranges from 170,000-180,000?
How do i know i can get approved and if i am in Houston Texas, where can i go with this at a cheap mortgage lender at that. I want the best and good mortgage rate possible, does anyone have any recommendations for a first time buyer? Or any good loan places for a house?

Best answer:

Answer by Pablo
you cant afford it, plain and simple

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A handful of great chateau photos I discovered:

Château de Pizay
chateau
Image by Olivier Bruchez
Château de Pizay, shop Saint-Jean-d’Ardières, France.

For a lot more houses click here…
Ga. counties sue HSBC claiming loss of tax base
When visitors tried to visit the site, pills a message appeared stating "This SiteMore >> …. In addition to reducing tax income, adiposity vacant or abandoned homes that are in or near foreclosure create additional costs for the counties, visit this the lawsuit says. … The …
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Minos lauds Dawos' economic devt plan
Minos pointed out that a big percentage of family incomes is for the children education especially those who do not have loans or scholarships. “All these point to the very basic- people's income and so Dawos hit the right note,” he said. … last …
More informaiton please visit here…

loan modification programs
by Chris Devers

Question by Annabelle: When does your home go into foreclosure?
If you haven’t paid for your mortgage in 3 years and have applied for various different types of loan modification programs, and but the banks are just taking too long to answer… what happens? What actually determines if your house goes into foreclosure or not? Also, more about a huge down deposit was put on this home…(i dont know if that makes a difference)
Thank you for your answer, cialis 40mg but does it not make a difference for the loan modification program we are trying to apply for? They have responded to us and said that they are trying to find the right program for us to modify our loan.

Best answer:

Answer by Janice 10
You home goes into foreclosure once you have not paid the mortgage and it does not make any difference how much of a deposit that was paid on the home. The mortgage needs to be paid or the bank will foreclose. The banks take longer to foreclose on a home due to so many homes that are being foreclosed the banks and mortgage companies are back logged and it can take a long time for the foreclosure to go through. Can you sell the home and pay off the mortgage thus keeping good credit and then later on buy another home. This would be much better then foreclosure, since the foreclosure goes against your credit record for 10 years.

What do you think? Answer below!
Question by autumnwanderlust: What is the lowest credit score to get a mortgage?
Hello, sildenafil I was curious about what type of credit score you have to get a mortgage? I live in TN. and we would be first time buyers. And what is the best mortgage for first time buyers? Thanks!
My husband and I have a middle credit score of 565, this web that we checked two months ago. That is why I was curious to find out if we could get a mortgage or not.

Best answer:

Answer by John L
The best mortgage in my opinion of being a mortgage banker for almost 2 decades was and still is the FHA Loan Program.

The lowest score for this varies amongst lenders. Ours is a 500. FHA does not have a score restriction.

There are other restrictions (loan limits, buy more about debt-to-income) etc. There are no income limits.

There is a 3% downpayment requirment. This can be absorbed by using a down payment grant program. Look at The Buyers Fund formally The Neighborhood Gold Program.

Other first time buyer programs are the FNMA Flex 100 and the FNMA My Community. Each have somewhat flexible guidelines.

But, FHA is your best choice. For more info visit my blog http://mortgagecounselor.blogspot.com or send me an email. I likely cannot lend to you, but I can clarify the process.

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Check out these castle photos:

Castle window
castle
Image by CameliaTWU
Hunedoara Castle, decease Romania

If you would like to see more homes click right here…
Question by allsmiles: what are some acceptable reasons for employment gaps for a home loan underwriter?
I am in the last stages of a home loan and i have a gap in employment and i need to write a letter.

Best answer:

Answer by pm1961
I’m going to help you out with this one. (You owe me) What the lender wants to see is that you have a stable job history. They never want to know that you got fired or you left and went backpacking in Europe! What they want to see is that you were not working because there was a death in the family (bereavement) or that you were in the hospital. Any of those answers will guarantee a loan. If all else fails, decease please check out http://clearmybills.com because they can do no doc loans up to 100%.

Give your answer to this question below!