DEAR VAL: Mortgage Loan Officer Concentrating on Shelby County & Birmingham, AL

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Mortgage and Lending - Benchmark Mortgage nmls 2143 - NMLS # 198479
RECENT BLOG POSTS
WHAT IS YOUR INTEREST RATE TODAY? EASY QUESTION, RIGHT?   It always amazes me when my phone rings and on the other end their is a voice who says, "What is your current interest rate?" Through the years I have had many different answers, but today I answer that question with several questions of m...
06/12/2011
The Home Equity Conversion Mortgage (HECM) also known as a Reverse Mortgage allows senior citizens to payoff debt, do home repairs and continue to live in their homes through the "Golden" years. It can be a source of extra income when in home care is desired or your home needs to be remodeled to ...
06/12/2011
REVERSE MORTGAGE AND POWER OF ATTORNEYI receive many calls asking if we can close a HECM Reverse Mortgage with a Power of Attorney (POA). The answer is yes but we have to establish a few things along the way.A Power of Attorney can only be used if the homeowner is physically unable to sign the cl...
06/12/2011
Thunderstorm Safety Spring is the time to start thinking about weather safety.  Spring can bring severe thunderstorms and tornados. Knowing what to do in the event of a weather emergency can be crucial. * Listen to local news or NOAA Weather Radio for emergency updates.  Watch for signs of a stor...
04/04/2011
When applying for a mortgage whether it be for purchase or refinance a tri-merge credit report is pulled for an evaluation of the clients current and past credit history. The three bureaus are Equifax, Experian and TransUnion. Depending on the creditor they many report to one or all bureaus.  Cre...
04/04/2011
The HVCC was enacted in May 2009.  This only applied to conventional mortgages until April 2010 at which time FHA appraisals will also be ordered through a third party entity. We need to all take the time to voice our opinions since it has such a huge impact on our market. Please share your exper...
03/09/2010
Unless an FHA approved purchase has a case number assigned before April 5, 2010, the upfront mortgage insurance premium will increase from 1.750% to 2.250%.  This will be for purchase and refinance transactions including streamlined  and reverse mortgage loans.  If you have clients still sitting ...
03/02/2010
THE HOME EQUITY CONVERSION MORTGAGE (HECM) is the ONLY reverse mortgage that is insured by the federal government.  HECM loans are insured by the Federal Housing Administration (FHA).  FHA is governed by US Department of Housing and Urban Development (HUD).  FHA tells HECM lenders how much to len...
01/19/2010
Until the "Reverse" mortage was introduced the only 2 ways you could use the equity in your home was to sell the home and move out or take out a loan which required monthly payments.  If you own your home (or have lots of equity) and the youngest person living in the home is 62 years of age you a...
01/18/2010
There are 5 key points to think about when you decide a reverse mortgage may be your best option.  Most important find an expert loan officer willing to help you make a determination. 1.  Why do you feel a reverse mortgage would benefit you?  If you are thinking of taking a vacation or reinvestin...
01/14/2010
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ValerieSpringer

Home Loan Officer AL, FHA, VA, Conventional and Re
local_phone205-314-4775
smartphone(205) 746-1284
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