Self-employment, mortgages, covid-19

Self employment, mortgages, covid-19

The rules around mortgages are ever changing. If you are self-employed, it's getting tougher because the lenders have zero clue if your particular business is going to survive. So, they've decided to ask for this documentation. 60 days of asset statements showing 6 months of PITIA (for the subject property) ...

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What the Fed happened to mortgage rates?

I guess you are wondering why the fed lowered rates to near zero and the mortgage rates did not go down? Three reasons: 1. The lenders are too busy. So, they have all raised the rates dramatically to slow down the business to a level they can handle. 2. What ...

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What do I need for refinancing my mortgage in 2020?

What do I need for refinance in 2020?

Welcome the the greatest refi extravaganza the world has ever seen. Thanks to a meal gone wrong in China, the world has been terrorized into putting their money in the United States treasury bonds and mortgage backed securities. The result? The lowest interest rates in modern times, an industry that ...

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You have to be out of your mind  to do an open house.

The only reason they are done is to attract possible buyer clients for the real estate agent. This is the mechanism that makes the whole path happen. When an agent gets a buyer client from an open house, it costs them nothing. As a matter of fact, they make money ...

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why did rates drop and now what

first, my prediction and it is good news for borrowers. this is a new plateau. this drop will be her for awhile. today i was pricing a 15 year VA purchase loan that allowed the rate to be brought down to 2.25%. The last time these numbers were seem was ...

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Is it hard to get equity out on your property if it’s paid for and your credit is not good?

Actually, no. there are programs for low credit scores depending on your loan to value. there are even programs that I broker that have no payments!

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Can you rent out a mortgaged property without telling the bank?

Can you rent out a mortgaged property without telling the bank?

It's all about your intent and when you did it. When you first buy a pay, if you told the mortgage company that you were going to live there and your plan was to not live there from day one, don't even think of it. The FBI and a One ...

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