Reverse mortgages represent a way for seniors to tap the equity in their homes, typically without having mortgage payments due each month! The loan is repaid to the lender when the borrower dies, sells the property or leaves the home permanently. The bank cannot seize the home and the borrower is not giving away title […]
So let me get this straight…A mortgage applicant currently has an outstanding mortgage on their home, and those expenses can be excluded from the DTI calculation for a mortgage that will be used to buy another home? Are we talking about a bridge loan or a loan from some other non-traditional lender? The answer […]
Ah, memories! Some good, some bad and some terrifying! In this case, 10-years after the global financial markets came close to collapse, the word terrifying would seem to be a good fit! But what went wrong in 2008 and is it possible the same could happen again? To my mind, one word seems to describe the environment […]
Whether it’s what a company may earn in a given quarter, who will win the 8th at Belmont, if it will rain today or of course the economy, forecasting and prediction are inexact sciences! As discussed in this space previously, ‘Predicting The Weather, Mortgage Rates, Commodity Prices Or Most Anything Else Is Not For The Faint Of […]
A recent article at the Hallmark Abstract Service blog asked the following question…’When Applying For A Mortgage, Is Riding On A Rocket Always Your Best Option?’ The premise of this article was whether a prospective homebuyer shopping for a mortgage is best served by an online provider that basically runs the borrowers information through a […]
You’ve likely seen the mortgage commercials where lingo is used that some in the spot are apparently not familiar with, only to be clued in by Keegan-Michael Key! These are funny spots no doubt, but when it comes to something as financially important for a consumer as buying a property, while at the same time […]
With the advent of online mortgage loans from a variety of companies taking much of the ‘human touch’ out of the process, rate and ease of use is one their major selling points! Mortgage rate during a period of Federal Reserve tightening is certainly an important piece of the puzzle, particularly if a potential homebuyer or […]
After the financial crisis that was in no small part brought on through mortgage products such as ‘liar loans*’, lending institutions have become much more conservative! Some of this conservatism was mandated through imposed federal government regulation such as Dodd-Frank while some was through the publics distaste for these types of loans. But lending institutions now […]
In the midst of national weather disasters tragically now coupled with the mass murder in Las Vegas, the Equifax data breach story has been placed on the back-burner! But, is that where it belongs? Applying For A Mortgage, Some Other Type of Credit Or Maybe Something As Basic As Searching For A Job? For the tens of millions […]
This article concerning Marketing Service Agreements, or MSA’s, was written by Warren Goldberg, President of Mortgage Wealth Advisors and is being shared with his permission. What is an MSA or Marketing Service Agreement? ‘The residential mortgage origination industry has long used Marketing Services Agreements (MSAs) to establish the terms of certain marketing arrangements. An MSA, written […]
