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ByGustan Cho
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This BLOG On Establishing Good Credit To Qualify For Mortgage Loan Was UPDATED On December 10th, 2018 Establishing good credit is one of the most important factors for all American consumers. Establishing good credit means saving money. Lenders and Creditors view bad credit as high risk. High risk means higher interest rates. Higher interest rates mean…
ByGustan Cho
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This article is about Re-Building Credit After Foreclosure To Qualify For Home Loans A foreclosure can drop credit scores by at least 100 points. However, the good news is that the drop is temporary Credit scores will improve as the foreclosure ages The sudden drop will eventually have little to no impact on credit scores as…
ByAlex Carlucci
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This BLOG On Tips In Getting Lowest Mortgage Rates Florida Was UPDATED On December 10th, 2018 Borrowers who are thinking of getting a mortgage with lowest mortgage rates Florida should optimize their credit scores before applying. Majority of mortgage companies that advertise on television, radio, or newspaper often lure potential borrowers with claiming they have the best…
ByGustan Cho
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This BLOG On Mortgage Guidelines On Foreclosure And Bankruptcy Was UPDATED On December 8th, 2018 If a mortgage loan borrower had a prior bankruptcy, there is a 2 year waiting period from the date of the bankruptcy discharge before a home buyer has to wait to qualify for FHA and VA Loans If you have foreclosure but not a…
ByGustan Cho
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This BLOG On Bankruptcy And Foreclosure Waiting Periods To Qualify For Mortgage Was UPDATED On December 6th, 2018 The mortgage industry went through a major overhaul after the 2008 Great Recession and Mortgage Meltdown. Countless of Americans lost their jobs, businesses, and most importantly, their life earned savings including the equity in their homes Bankruptcies and…
ByGustan Cho
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This BLOG On Short Sale Home Purchase Process For Illinois Home Buyers Was UPDATED On December 4th, 2018 Due to the financial and credit collapse of 2008, foreclosures rates hit an all time historical high Real estate values plummeted more than 50% or more in some areas in the United States Millions of Americans lost…
ByGustan Cho
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This BLOG On FHA Loan With High DTI And Outstanding Collection Accounts Was UPDATED December 2nd, 2018 Homebuyers can qualify for FHA loans with high DTI. Borrowers do not have to pay off outstanding collections and charge off accounts However, outstanding non-medical collection accounts can affect when getting an FHA Loan with High DTI This is…
ByGustan Cho
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This BLOG On Alternatives To Bankruptcy Waiting Out Bad Credit With SOL Was UPDATED On November 27th, 2018 For those folks who were hurt financially from the recession of 2008 and have not filed bankruptcy and started to rebuild their lives back, they need to pay attention to the outstanding collections, charge offs, and judgments they…
ByGustan Cho
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This BLOG On Mortgage After Filing Bankruptcy With No Waiting Period Was Updated On November 26th, 2018 The federal government created federal bankruptcy laws for consumers who are drowning in debt: Bankruptcy gives consumers a chance to re-structure their debts or discharged their debts and start new Everyone has good intent on paying their bills…
ByAlex Carlucci
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This BLOG On Mortgage Interest Rates On Conventional Versus FHA Loans Was Updated On November 26th, 2018 Mortgage Interest Rates On Conventional Loans are more sensitive to credit scores and loan to value than FHA Loans. The higher the borrower’s credit scores, the lower their conventional mortgage rate For the lowest possible conventional mortgage rate, the…
ByGustan Cho
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This BLOG On Purpose For VA Loans Was Updated On November 25th, 2018 The purpose for VA Loans is to promote homeownership to members of the U.S. Military who served in the U.S. Armed Services. The federal government purpose for VA Loans and its creation was to reward our men and women in uniform who…
ByAlex Carlucci
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This BLOG On Bridge Loans For Investment Properties Lending Guidelines Was UPDATED On November 24th, 2018 Hard money bridge loans are a great tool for real estate investors. Even investors with great financials and those who can qualify for traditional bankable commercial loans utilize hard money bridge loans in many cases Short term hard money loans is…
ByGustan Cho
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This BLOG On FHA Lowers Mortgage Insurance Premium Was UPDATED On November 24th, 2018 This blog is a rewrite and updated blog from January 2017: FHA Lowers Mortgage Insurance Premium by 0.25 basis points. This announcement came from HUD that for 2017, FHA Lowers Mortgage Insurance Premium This is great news for home buyers and those…
ByGustan Cho
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This Blog On FHA 203k Rehab Loans Georgia Mortgage Guidelines Was UPDATED On November 13th, 2018 The state of Georgia has one of the hottest housing markets in the United States. Besides the great economy in Georgia, many home buyers are migrating to the Great State of Georgia because homebuyers can still find reasonable home prices…
ByGustan Cho
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This BLOG On Front End Debt To Income Ratios Mortgage Guidelines Was UPDATED On November 12th, 2018 There are two different types of debt to income ratios: Front End Debt To Income Ratios Back End Debt To Income Ratios A homeowner’s monthly mortgage payment consists of the following and is called P.I.T.I. Principal Interest Property Taxes…
ByMike Gracz
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This BLOG On Conforming Loan Limits Versus NON-QM Loans On Home Purchase Was UPDATED On November 9th, 2018 The FHFA announced Conforming Loan Limits Increase In 2017 First Time Since 2006. Surprisingly, FHFA then announced another increase of conforming limits for 2018 This is two increases of loan limits on conventional loans HUD, the parent of…
ByGustan Cho
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Home Buyer’s Down Payment Assistance Program For Educators With The California Extra Credit Teacher Home Purchase Program The California Extra Credit Teacher Home Purchase Program, commonly referred to as ECTP, is a home buyer assistance program for teachers: The following government employees in the state of California are eligible: school teachers school administration employees and…
ByAlex Carlucci
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This BLOG On Role Of Property Manager And Responsibilities To Landlords Was UPDATED On November 2nd, 2018 Most property managers work for larger companies. The role of property manager is to keep the property safe, tenants happy, and collect rent on time: They are placed on site Their role is to see to the needs…
ByAlex Carlucci
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This Blog On What Is Factoring And Why How Do They Benefit Businesses Was UPDATED On November 2nd, 2018 Many business owners ask What A Factor Is And How Does Factoring Work? Factoring is when a company sells its accounts receivables or invoices to a third-party vendor This is done by the commercial business broker…
ByMike Gracz
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This Article ON What Is TRID And How Has TRID Changed The Mortgage Industry Was UPDATED On November 1st, 2018 What Is TRID? Many consumers still ask What Is TRID and are not quite clear with this four letter word In order to make loan disclosures simpler and more easy to understand, the Dodd-Frank Act…
ByMike Gracz
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This Blog On Commercial Lending Programs For Real Estate Investors Was UPDATED On November 1st, 2018 Commercial Lending Programs are very different than residential mortgages. Commercial Lending Programs are not regulated like home loans Regulators and government agencies classify commercial investors and borrowers as sophisticated investors This is the main reason why commercial loans are not…
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