Don’t Worry, We Have Plenty Of Time, It Can Wait.
I think one thing that causes a lot of problems in life is our perception of time. We all seem to think we have plenty of time to do things, but what we are really doing is justifying our...
View ArticleCash Reserves
Cash reserves are monies that you need to show a mortgage lender that you have leftover after settlement for emergency and for cash cushion, to convince the lender you have some reserves after...
View ArticleNegotiating a Sales Contract
I recently wrote several blogs about the pros and cons of waiving contingencies to make a more aggressive offer in a sellers market. But there are also other ways to make a more aggressive offer I...
View ArticleHow Quickly Can We Get to Settlement?
Everyone wants to close a loan quicker these days, and I mean everyone. But when it comes time to do their part to move quickly, people are not as excited to help out. The problem is that most of the...
View ArticleDebts Paid by a Self-Employed Mortgage Borrower’s Company
Freddie Mac made a change recently that allows the exclusion of a monthly debt payment from the debt ratio calculation for self-employed mortgage borrowers when the monthly payment is paid by the...
View ArticlePool Tables, Patio Furniture and Chandeliers Have No Value?
When a buyer and seller are negotiating over the sale of a home sometimes the buyer indicates they would like to have certain personal property from the home. The seller is OK with that either due to...
View ArticlePMI versus LPMI versus 1st trust/2nd trust Combo Loan
Everyone likes to think PMI (Private Mortgage Insurance) is evil. People like to think they should not have to pay it, and want to find a way around paying it. There are ways to work around PMI. But...
View ArticleLoan Transaction Checklist
The below is what a mortgage borrower should know about the steps in a mortgage process and what is expected of them when applying for a mortgage. The turn times and ability of the mortgage lender to...
View ArticleI Need To Be Self-Employed For Two Years?
I had a self-employed borrower call me recently asking for a quote on an interest rate. She said she had been pre-qualified by someone else and just needed an interest rate quote. I asked her to fill...
View ArticleAnatomy Of A Deal
Each mortgage process has an anatomy. Anatomy is the bodily structure of an organism. Loan transactions can almost be considered an organism. They certainly take on a life of their own and they have...
View Article
