FHA as you have heard is coming back faster than ever. FHA can be helpful in many ways when purchasing or refinancing.I am currently working with clients that bought just over 1 year ago, with another mortgage lender, and they were put into a sub prime loan with a sub prime rate. These clients
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08/30/2007
What is the underwriter looking for when they review the loan application?The underwriter will be looking for assets such as checking, savings, 401K etc. You will also be asked to provide income documentation, recent pay check stubs, W2's (tax returns if self employed), and employment history.
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08/30/2007
When you have to visit a public bathroom, you usually find a line of women, so you smile politely and take your place. Once it's your turn, you check for feet under the stall doors. Every stall is occupied. Finally, a door opens and you dash in, nearly knocking down the woman leaving the stall.
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08/29/2007
I received a call about 3 months ago from a previous client (we'll call him Joe) looking to get information on purchasing a home. The home is currently owned by his brother and sister in law, and the home has been in the family for several generations. My client wants to purchase the home from
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08/20/2007
For many who purchased homes or refinanced old loans with adjustable rate mortgages [ARMs] several years ago, those incredible introductory rates are about to end. As three-year introductory rates end and five-year adj
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08/19/2007
A good credit score can actually save you money. Interest rates are lower for home buyers with good credit scores. In the eyes of a mortgage lender you are less of a risk the higher your score. Borrowers with lower credit scores will usually end up paying a higher interest rate on mortgage loa
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08/16/2007
With all the new ways of communicating I find email to be the most frustrating at times. Don't get me wrong, it can be a very quick and effective way to communicate. I wouldn't not have invested in a Blackberry over 2 years ago if I didn't think so. However as we are getting bombarded more and
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08/05/2007
Illinois has a wide range of things to do outside of Chicago. Rink Side Sports and Family Entertainment Center- Located in Gurnee Mills, in Lake County. Rink Side has a skating rink, video games, Lazer Tag and a restaurant. You can visit or have a group event such as a birthday party at Rink S
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08/05/2007
Mortgage Lenders, when you take a loan application do you just do the basics and turn it into your processor and let him/her take over and do the rest? Or do you take a complete loan application, with all disclosures, signed GFE, TIL and all applicable supporting documentation? I have se
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08/05/2007
I find that many Mortgage Consultants talk about the different states they are licensed in and where they can do business. I have been contacted by many companies wanting to recruit an experienced Mortgage Consultant, and one of the things they stress is the many states they can do business in.
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08/04/2007
