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Breaking News

Breaking News

FHA Loans During The COVID-19 Pandemic Mortgage Crisis

BREAKING NEWS: FHA Loans During The COVID-19 Pandemic Mortgage Crisis FHA Loans During The COVID-19 Pandemic Mortgage Crisis for homebuyers and homeowners: Many borrowers are confused about why so many lenders have different credit score requirements on FHA Loans During The COVID-19 Pandemic GCA Mortgage Group is getting countless calls daily by borrowers to check on whether or not HUD changed FHA Guidelines on FHA Loans HUD is the parent of FHA and sets the minimum agency mortgage guidelines on FHA loans…

Mortgage During The COVID-19 Pandemic For Borrowers

BREAKING NEWS: Mortgage During The COVID-19 Pandemic For Borrowers Qualifying for a Mortgage During The COVID-19 Pandemic For Borrowers has been challenging. Many borrowers who were pre-approved prior to the COVID-19 pandemic are no longer pre-approved now Many borrowers who got a clear to close soon realized the CTC was null and void due to lenders changing its overlays due to the pandemic This is not because FHA, VA, USDA, Fannie Mae, Freddie Mac changed its agency guidelines but due to lenders increasing…

Mortgage Underwriting During The Covid-19 Pandemic

BREAKING NEWS: Mortgage Underwriting During The Covid-19 Pandemic Mortgage Underwriting During The Covid-19 Pandemic is more scrutinized than it ever used to be. Lenders are paranoid about being able to sell their originate and fund after closing The mortgage industry is in chaos due to the coronavirus pandemic The once strong mortgage market is now uncertain on the liquidity of borrowers with less than perfect credit The pandemic frightened investors of the secondary mortgage bond market Buyers of…

Buying Or Refinancing After Forbearance Mortgage Guidelines

BREAKING NEWS: Buying Or Refinancing After Forbearance Mortgage Guidelines Buying Or Refinancing After Forbearance is a major concern for homebuyers and homeowners. Under the federal coronavirus stimulus CARES Act, mortgage borrowers can qualify for forbearance for six months and can extend it for another six months for a total of one year This holds true for federally-backed mortgages Federally-backed mortgages are FHA, VA, USDA, Fannie Mae, Freddie Mac mortgages Forbearance is not mortgage forgiveness…

Foreclosure During Pandemic For Unemployed Homeowners

BREAKING NEWS: Foreclosure During Pandemic For Unemployed Homeowners The coronavirus pandemic really hit the U.S. hard. Prior to the pandemic, the U.S. economy was booming Americans enjoyed a great economy, strong employment, little to no inflation, the lowest unemployment rate in U.S. history, a strong housing market, an all-time high values on their 401ks In February 2020, the Dow Jones Industrial Average hit 29,000, the highest levels in the history of our country Other equity markets…

The Coronavirus Mortgage Meltdown And How MBS Process Works

BREAKING NEWS: The Coronavirus Mortgage Meltdown And How MBS Process Works The Coronavirus Mortgage Meltdown is impacting the real estate and mortgage industry: The Coronavirus Mortgage Meltdown caused the mortgage markets in chaos. The Coronavirus Mortgage Meltdown created confusion not just among borrowers but also loan officers and other mortgage and real estate professionals The Federal Reserve Board dropped interest rates to zero Supposedly, mortgage rates dropped to an all-time historic low…

Mortgage Guidelines After Forbearance Due To COVID-19 Pandemic

BREAKING NEWS: Mortgage Guidelines After Forbearance Due To COVID-19 PandemicMany borrowers were concerned with Mortgage Guidelines After Forbearance Due To COVID-19 Pandemic. Some of the common questions about Mortgage Guidelines After Forbearance Due To COVID-19 Pandemic were the following: Are you able to refinance after your forbearance? Are you able to qualify for a home purchase mortgage after forbearance? Is there a waiting period requirement before you are able to obtain a mortgage after forbearance? In…

Emergency Relief Screw-Up Affects Student Loan Borrowers

BREAKING NEWS: Emergency Relief Screw-Up Affects Student Loan Borrowers Emergency Relief Screw-Up Affects over credit reports of more than 5 million student loan borrowers. One of the biggest hurdles in qualifying for a mortgage for homebuyers are student loans Most student loans are federally-backed student loans Many homebuyers often encounter hurdles and issues when qualifying for a mortgage due to high student loan debt Federal student loans cannot be discharged in bankruptcies Federal student…
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