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In this blog, we will cover and discuss Chicago First Responders Homes For Heroes Mortgage Program. We have can help Chicago police officers and Chicago firefighters who are seeking a home loan with bad credit. Many decorated Chicago Police Officers and Firefighters have been affected by the 2008 Great Recession And Real Estate Market Crash….
This blog will discuss the HUD and Fannie Mae Guidelines on credit disputes during the mortgage process. We will outline the key points from the most recent updates to the HUD and Fannie Mae guidelines on credit disputes. Credit disputes occur when a consumer finds errors on their credit report that shouldn’t be there. The…
BREAKING NEWS: Refinancing During Coronavirus Pandemic Mortgage Crisis Hurdles with Refinancing During Coronavirus Pandemic Mortgage Crisis: With all the global news surrounding the COVID-19 coronavirus outbreak, there is a strong surge of refinance mortgage transactions. In this blog, we will give a quick update on the coronavirus affecting mortgages and how to complete a refinance…
In this article, we will cover and discuss the steps to selling a house with a realtor fast for top dollar. We interviewed John Hartnett, a veteran licensed Illinois real estate agent who is an expert in representing both home sellers and buyers in the Chicagoland area. Do you want your home to look like…
It is no secret that mortgage interest rates are at historic lows. The COVID-19 pandemic has affected every global market, including the United States mortgage market. While historic lows are currently experienced in interest rates, all signs indicate an imminent increase. If you have been following the news, you know that the Federal Reserve announced…
This guide compares FHA versus conforming mortgages, the two most popular mortgage loan programs for homebuyers in the United States. Which program should homebuyers choose? Both have pros and cons. Sometimes, borrowers may qualify for FHA loans instead of conforming mortgages. Conversely, some borrowers who qualify for conventional loans may not qualify for FHA loans….
Florida, the most southern state in the United States, has a strong economy fueled by manufacturing, building, global finance, healthcare services, medical research, education, and aerospace and defense. However, Florida’s main source of income is tourism. Travelers love to explore local attractions and the white sandy beaches, often opting for car rentals, including“Miami car rentals…
This guide covers how to qualify for a mortgage by buying a home in another state. Buying a home in another state is becoming more and more popular. Many employers now offer remote positions where workers do not have to report to a local brick-and-mortar branch office. Many industries are now either closing many of…
This guide covers conventioal loan after short sale vs foreclosure guidelines. Since 2008, millions of Americans have witnessed their equity in their homes evaporate. The real estate and credit meltdown of 2008 has devastated many hard-working families. The Great Recession of 2008 was more of a depression than the Great Recession. Record bankruptcies, foreclosures, and…
This article discusses the first time home buying process, emphasizing that it starts with pre-approval. The initial step for those currently renting or living with family and are first time home buyers is to consult with a mortgage lender. The most critical stage of the first time home buying process starts with getting pre-approved. Over…
In this blog, we will cover and discuss the various mortgage options home buyers with bad credit have in qualifying and getting approved on a mortgage loan. We get countless daily calls from home buyers with bad credit asking for advice on the types of mortgage options they have in getting approved for a mortgage….
This guide covers how Illinois tax burden is the least friendlyy in the U.S. Illinois is making news again. According to a new study, Illinois Tax Burden makes the state as the least friendly taxed state in the nation. The state already made the #2 spot as having the highest property tax in the nation….
This Article Is About Home Loan With Declining And Irregular Income Mortgage Guidelines. There are ways on how mortgage underwriters qualify borrowers who need a home loan with declining and irregular income. Although home loan with declining and irregular income can be done, it all depends mainly on the mortgage underwriter underwriting the file. Many…
This Article Is About Condotel Mortgage Rates And Condotel Loan Guidelines. A condotel, or a condo-hotel, is a condominium unit located within a hotel or a hotel-like condominium project. Major hotel brands such as Marriott Hotels, Hyatt Hotels, and Trump Hotels often include condotels in their hotel complexes. Condotels are owned by individuals, investors, or…
This guide covers everything you need to know before buying a mountain house. Discover how to find your dream home in America’s best mountain towns. Are you tired of the hectic city life and yearning for a peaceful retreat surrounded by nature? Look no further than America’s best mountain towns! According to Dale Elenteny of…
This Article Is About Ways Of Avoiding Stress During Mortgage Process And Close On Time There is no reason why borrowers should experience stress during mortgage process. Avoiding stress during the mortgage process is possible. Borrowers place their trust and faith in their loan officers to ensure their pre-approval is solid. However, like in any…
This guide covers how mortgage brokers get paid on closed home loans. Mortgage brokers, loan originators, or loan officers are licensed professionals. Mortgage Brokers assist mortgage loan borrowers to qualify for home loans. Brokers are third-party consultants who match direct lenders with borrowers, Mortgage brokers match borrowers with direct lenders that meet the lender’s mortgage…
In this article, we will cover and discuss the role of mortgage processor during the mortgage process. The mortgage processor plays one of the most important roles during the mortgage process. It is because of the mortgage processor that a home mortgage has no stress and closes on time. The mortgage processor is the person…
HUD Guidelines On FHA Property Standards is the home needs to be safe, secure, and habitable. No need to be alarmed if the home is old. As long as the home is secured, safe, and habitable, it will pass FHA Home Appraisal.
This blog will discuss the intricacies of buying home with illegal apartment in the basement and attic. Most of these non-conforming dwelling units have been constructed without proper building permits. Despite having these additional units, properties still need to be classified as two-unit residential buildings, not three-unit. The same applies to attics, where many homeowners…
This guide covers HUD FHA 203k loans manual underwriting guidelines on renovation loans. HUD FHA 203k loans manual underwriting guidelines allow manual underwriting on FHA loans. Most lenders do not allow manual underwriting on FHA 203k loans . Lenders can have higher lending requirements above and beyond the minimum agency mortgage guidelines of HUD. Lenders…
This guide covers clearing mortgage conditions of conditional loan approval. After borrower’s mortgage application has been processed and underwritten, the mortgage underwriter will issue a conditional mortgage approval. Clearing Mortgage Conditions is required for the underwriter to issue a clear to close. A conditional mortgage approval is a letter of intent that the lender will…
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