Call or Text: (800) 900-8569
Email Us: alex@gustancho.com
ByGustan Cho
Posted on
This ARTICLE On Updated Fannie Mae Guidelines Mortgage After Short Sale And Deed In Lieu Was UPDATED And PUBLISHED On May 20th, 2020 Fannie Mae Guidelines Mortgage After Short Sale requires a four year waiting period after the date of the short sale. A short sale is an alternative to foreclosure Short Sales is often…
ByAlex Carlucci
Posted on
BREAKING NEWS: Illinois In No Hurry To Reopen State Hurting Business Owners Illinois In No Hurry To Reopen State under the directives of Governor JB Pritzker. The U.S. economy was thriving prior to the COVID-19 pandemic Most states were enjoying the revenues from the booming economy Republican-led states such as Indiana, Florida, Georgia, Tennessee, Texas,…
ByAlex Carlucci
Posted on
BREAKING NEWS: Illinois Governor Extends Stay At Home Order Lock Down Illinois Governor Extends Stay At Home Order for another month while other states are aggressively reopening. All state governors issued a state of emergency and their governors issue stay at home executive orders for 30 days Under the constitution and laws, a governor can…
ByAlex Carlucci
Posted on
BREAKING NEWS: Property Tax Relief For Illinois Homeowners During Pandemic Good news for Illinoisans is Property Tax Relief For Illinois Homeowners During Pandemic may be seen in 2020. Illinois has the second highest property tax rate in the country Only New Jersey has higher property taxes The economy was booming prior to the pandemic Many…
ByGustan Cho
Posted on
This BLOG On Negative Income With Co-Borrowers Mortgage Guidelines Was UPDATED And PUBLISHED On May 17th, 2020 FHA allows non-occupant co-borrowers to be added on borrowers who has little or no income. Income is the most important factor when it comes to qualifying for FHA Loans Income is more important than credit when it comes…
ByAlex Carlucci
Posted on
BREAKING NEWS: House Democrats Pass 3 Trillion Stimulus Coronavirus Bill House Speaker Nancy Pelosi led House Democrats Pass 3 trillion stimulus coronavirus bill. The bill narrowly passed the House on Friday, May 15th Nancy Pelosi and Democrats are capitalizing and politicizing the coronavirus pandemic at the expense of U.S. taxpayers Included in the bill are…
ByAlex Carlucci
Posted on
BREAKING NEWS: Wisconsin Supreme Court Rules Against Governors Executive Order Wisconsin Supreme Court Rules Against Governors Executive Order on Wednesday, May 13 angering Tony Evers and his administration. Governor Tony Evers was adamant in extending his emergency stay at home order The Wisconsin Supreme Court ruled in blocking Governor Tony Evers Safer at Home extension…
ByAlex Carlucci
Posted on
BREAKING NEWS: COVID-19 pandemic impact on investors of rental properties. The COVID-19 pandemic impact on investors of rental properties: The housing market has been booming prior to the coronavirus pandemic. Many real estate investors who have been impacted after the 2008 financial crisis have gotten back to investing in real estate. Non-QM loans was introduced…
ByGustan Cho
Posted on
BREAKING NEWS: 2020 Housing Market Correction Due To Coronavirus Pandemic There will be a 2020 Housing Market Correction due to the coronavirus pandemic crisis. How much of a correction, we do not know It is too early to tell on the after-effects of the housing market due to the coronavirus pandemic The pandemic has devastated…
ByMike Gracz
Posted on
This guide covers VA guidelines versus overlays during the pandemic economic crisis. It is no secret that qualifying for a mortgage is more difficult during this COVID-19 coronavirus outbreak. If you have been following the news at all, you understand the doom and gloom going on throughout the world. While views are starting to differ…
ByGustan Cho
Posted on
This ARTICLE On What Are The FHA Loan Limits For One To Four Unit Properties In Illinois Was PUBLISHED On May 11th, 2020 FHA Loan Limits for one to four unit properties depends on the particular county the property is located as well as the type of housing. FHA Loan Limits for two to four…
ByGustan Cho
Posted on
BREAKING NEWS: DTI Mortgage Guidelines During The COVID-19 Pandemic Crisis The COVID-19 pandemic outbreak in the United States has not just plummeted the U.S. economy but shut down all non-essential businesses. Millions of businesses closed with no set date of opening Millions of closed businesses will not reopen as the pandemic lingers The good news…
ByDale Elenteny
Posted on
This BLOG On Why Do Underwriters Question Irregular Deposits Was UPDATED And PUBLISHED On May 8th, 2020 One of the most important things that mortgage underwriters will request to start the mortgage application and approval process is 60 days of bank statements. Lenders will also require all other asset information such as investment accounts, and…
ByAlex Carlucci
Posted on
Breaking News: Housing Market During Pandemic Expected To Remain Strong There is no doubt that the Housing Market During Pandemic got hurt like all other industries. Over 30% of our borrowers who were fully qualified and pre-approved at Gustan Cho Associates suspended their home shopping process until further notice Housing Market During Pandemic decreased at…
ByMike Gracz
Posted on
BREAKING NEWS: Avoiding Foreclosure During The COVID-19 Pandemic Crisis Avoiding Foreclosure During The COVID-19 Pandemic Crisis for unemployed homeowners The CARES Act is a large and important piece of legislation The CARES Act was introduced to help the American people combat the COVID-19 coronavirus financially The CARES Act of 2020 was the most expensive relief…
ByGustan Cho
Posted on
This BLOG On FHA Loan Guidelines On Bad Credit And Credit Scores Was UPDATED And PUBLISHED On May 6th, 2020 FHA Loan Guidelines Explained: FHA Loan Guidelines are the requirements and standards set by the Federal Housing Administration, commonly known as FHA, for FHA approved lenders to follow: Lenders need to follow FHA Loan Guidelines…
ByAlex Carlucci
Posted on
BREAKING NEWS: Economic Coronavirus Impact On Americans And Businesses The Economic Coronavirus Impact On Americans is beyond devastating. Prior to the coronavirus pandemic, the U.S. economy was booming Unemployment rates hit an all-time record low at under 3.5% The Dow Jones Industrial Average surpassed the 29,000 mark this February 2020 HUD and the Federal Housing…
ByGustan Cho
Posted on
BREAKING NEWS: Paying Rent During Coronavirus Pandemic For Unemployed Tenants Paying Rent During Coronavirus Pandemic For Unemployed Tenants may be challenging. The U.S. economy was booming like never before prior to the coronavirus pandemic Just in February 2020, the Dow Jones Industrial Average peaked to an all-time high at 29,000 Most Americans 401ks were up…
ByAlex Carlucci
Posted on
BREAKING NEWS: Illinois Demands Pension Bail Out As Part Of Pandemic Aid The U.S. economy was booming prior to the coronavirus pandemic. Just this past February 2020, the Dow Jones Industrial surpassed 29,000, setting an all-time historic high Millions of worker’s 401k’s have almost doubled since President Trump took office in January 2017 Unemployment numbers…
ByGustan Cho
Posted on
This ARTICLE On Fannie Mae Collection Accounts Guidelines Versus FHA Was PUBLISHED On April 27th, 2020 Fannie Mae Collection Accounts Guidelines For Conventional Loans Versus FHA Fannie Mae and Freddie Mac is in charge of setting up mortgage rules and guidelines for Conventional Loans. Conventional Loans are called Conforming Loans. This is because they need…
ByMike Gracz
Posted on
Only a few years ago, if you were able to spell the word mortgage, you could become a Mortgage Loan Officer. Hence, it became a big tent for everyone and anyone who wanted a “job” with the potential of juicy paychecks Many of the good Loan Officers got lost in the shuffle of all the…
CALL NOW