As a 20+ year veteran in the Mortgage Industry, I have had to learn (quickly) to embrace the things that I cannot control...even if those things directly impact my business (and the way others perceive how well I am doing in my business). Amongst those "external variables" (outside changes) that
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04/08/2019
FHA or Conventional...this is often the question. The purpose of this article is to help you (and/or your Clients) articulate the pros & cons of each from an objective perspective. FHA - Stands for Federal Housing Administration with guidelines handed down from the Department of Housing & Urban
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04/02/2019
Divorcing Homeowners need the help of ethical, knowledgeable and proactive Real Estate & Mortgage Professionals to work in harmony with their Legal & Tax Advisors. With all of the emotions running high amidst a time where pivotal decisions must be made by these Individuals, we Real Estate & Mort
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03/26/2019
Whether you are a Real Estate Agent or a Mortgage Lender, WE ARE REAL ESTATE PROFESSIONALS and it is our duty to responsibly help our Clients navigate through life transitions. Some of these transitions can be viewed as positive and happy, such as helping them buy their first homes, up-size due t
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03/19/2019
Although the main role of an Appraiser is to render an opinion of value for the "subject property" being appraised, the Appraiser will always "call out" the following 2 items if they are in violation of safety codes. These 2 items are as follows: Carbon Monoxide Smoke Detector - a minimum of 1
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02/26/2019
An often overlooked mortgage underwriting guideline is Cash Reserves (aka Post-Closing Liquidity). While not all loan programs require Cash Reserves, it is important to know what assets are eligible (and at what percentage). A good way to visualize Cash Reserves is to determine what is left on
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02/08/2019
What is the difference between a Home Equity Line of Credit (HELOC) and a Home Equity Loan (HEL) and why does it matter? In short, both mortgage loan programs are designed to be Junior Liens (to go into 2nd Lien position behind a 1st mortgage). Home Equity Line of Credit (HELOC) - is a revolving
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02/02/2019
What is the difference between Loan-to-Value (LTV) and Combined Loan-to-Value (CLTV) and why does it matter? To understand these terms and their relevance, I offer the following example related to a home purchase: Example: Purchase Price - $100,000 1st Mortgage - $80,000 2nd Mortgage - $10,000
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02/02/2019
As Real Estate Professionals, we are typically asked to help our clients through life transitions. While many transitions are considered "positive" (such as first time homebuyers, move-up buyers, family growth, job promotions, investment properties, dream homes, etc.), we are often asked to help
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01/29/2019
With so much noise on the airwaves, it is difficult for a potential Borrower (and/or a Professional who assists potential Borrowers) to know what is really going on with Mortgage Rates. Let's face it, Mortgage Companies have a vested "interest" in motivating Borrowers to act now before Mortgage
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01/28/2019
