Q&A: Has anyone received a USDA rural development home loan? If so How hard is it to qualify?
by 350.org Question by Daniel G: Do personal loan underwriters spend a lot of time verifying income or do they rely on credit score? Do personal loan underwriters spend as much time as mortgage loan undertwriters verifying income? I know mortgage loan underwriters spend days checking a loan and have tools to check docs. Do personal loan underwriters follow the same guidelines? Best answer: Answer by kellyyes they do they need both statements and information that support what you have written down to make sure that you are not a risk worth taking. Give your answer to this question below! by marsmet526 Question by Allison: why is my FHA mortgage banker refiance taking so long? We have had our complete FHA refinance package with the underwriting 2 weeks today. The loan officer tells us that it’s a more difficult file to process but says all looks good. I asked if they want to see any more documention and he told us that they haven’t asked for anything. We are getting concerned. If everythink looked fine, symptoms but they wanted some more documentation, wouldn’t they approve with stipulations? What could the hold up be? And at what point do we walk away and go with someone else? Best answer: Answer by MoneyMonkeySometime the squeaky wheel gets the grease. Ask him for a deadline, and keep calling him politely every day until it is complete. Ask him outright if you should be looking for a loan elsewhere. Add your own answer in the comments! Question by Manny: can i sue chase bank for selling my mortgage with good credit during a HARP application? During my application for modification or refinancing program to get a lower rate, information pills after 4 month back and forth with paper work, without any detail explanation, the letter said I was not qualified I never been late in payments, our credit scores were above 740 & 760 and we could make our payments,but our mortgage was underwater and this was the purpose for refinancing. Two month later our mortgage was sold to LBPS/Seterus a motrgage service company. Best answer: Answer by A HunchSeturus a mortgage service company. They don’t own the loan, so Chase couldn’t have sold them the loan. They service the loan for the owner. Was Chase the owner? Is Chase still the owner? Was Chase ever the owner or were they a servicer too? Know better? Leave your own answer in the comments! by Center for American Progress Question by ruby: How long is the process of a Home Affordable Modification Program with a bank last.? I’m in a Modification Program with my bank since April and they are giving me the run around. My three months trial period had ended. They ask me for document which i presented, there now ever other week they are asking for the same documents or something new. I pay my mortgage on time and i have done ever thing in my power to please this bank. I have a lawyer on the case but nothing have change and i don’ t have any money to seek another. How can i resolved this situation. Best answer: Answer by linkus86Loan modification is subjective Stay prepared and make copies of everything. Don’t be afraid to seek another contact person in regards to the modification. Be tenacious in your efforts. Give your answer to this question below! Question by A A: How much could I get a mortgage for if I make 31k a year? I’ve been hearing about this 8k home credit if your a first time homebuyer and...
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by 350.org Question by Daniel G: Do personal loan underwriters spend a lot of time verifying income or do they rely on credit score? Do personal loan underwriters spend as much time as mortgage loan undertwriters verifying income? I know mortgage loan underwriters spend days checking a loan and have tools to check docs. Do personal loan underwriters follow the same guidelines? Best answer: Answer by kellyyes they do they need both statements and information that support what you have written down to make sure that you are not a risk worth taking. Give your answer to this question below! by marsmet526 Question by Allison: why is my FHA mortgage banker refiance taking so long? We have had our complete FHA refinance package with the underwriting 2 weeks today. The loan officer tells us that it’s a more difficult file to process but says all looks good. I asked if they want to see any more documention and he told us that they haven’t asked for anything. We are getting concerned. If everythink looked fine, symptoms but they wanted some more documentation, wouldn’t they approve with stipulations? What could the hold up be? And at what point do we walk away and go with someone else? Best answer: Answer by MoneyMonkeySometime the squeaky wheel gets the grease. Ask him for a deadline, and keep calling him politely every day until it is complete. Ask him outright if you should be looking for a loan elsewhere. Add your own answer in the comments! Question by Manny: can i sue chase bank for selling my mortgage with good credit during a HARP application? During my application for modification or refinancing program to get a lower rate, information pills after 4 month back and forth with paper work, without any detail explanation, the letter said I was not qualified I never been late in payments, our credit scores were above 740 & 760 and we could make our payments,but our mortgage was underwater and this was the purpose for refinancing. Two month later our mortgage was sold to LBPS/Seterus a motrgage service company. Best answer: Answer by A HunchSeturus a mortgage service company. They don’t own the loan, so Chase couldn’t have sold them the loan. They service the loan for the owner. Was Chase the owner? Is Chase still the owner? Was Chase ever the owner or were they a servicer too? Know better? Leave your own answer in the comments! by Center for American Progress Question by ruby: How long is the process of a Home Affordable Modification Program with a bank last.? I’m in a Modification Program with my bank since April and they are giving me the run around. My three months trial period had ended. They ask me for document which i presented, there now ever other week they are asking for the same documents or something new. I pay my mortgage on time and i have done ever thing in my power to please this bank. I have a lawyer on the case but nothing have change and i don’ t have any money to seek another. How can i resolved this situation. Best answer: Answer by linkus86Loan modification is subjective Stay prepared and make copies of everything. Don’t be afraid to seek another contact person in regards to the modification. Be tenacious in your efforts. Give your answer to this question below! Question by A A: How much could I get a mortgage for if I make 31k a year? I’ve been hearing about this 8k home credit if your a first time homebuyer and...
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by 350.org Question by Daniel G: Do personal loan underwriters spend a lot of time verifying income or do they rely on credit score? Do personal loan underwriters spend as much time as mortgage loan undertwriters verifying income? I know mortgage loan underwriters spend days checking a loan and have tools to check docs. Do personal loan underwriters follow the same guidelines? Best answer: Answer by kellyyes they do they need both statements and information that support what you have written down to make sure that you are not a risk worth taking. Give your answer to this question below! by marsmet526 Question by Allison: why is my FHA mortgage banker refiance taking so long? We have had our complete FHA refinance package with the underwriting 2 weeks today. The loan officer tells us that it’s a more difficult file to process but says all looks good. I asked if they want to see any more documention and he told us that they haven’t asked for anything. We are getting concerned. If everythink looked fine, symptoms but they wanted some more documentation, wouldn’t they approve with stipulations? What could the hold up be? And at what point do we walk away and go with someone else? Best answer: Answer by MoneyMonkeySometime the squeaky wheel gets the grease. Ask him for a deadline, and keep calling him politely every day until it is complete. Ask him outright if you should be looking for a loan elsewhere. Add your own answer in the comments! Question by Manny: can i sue chase bank for selling my mortgage with good credit during a HARP application? During my application for modification or refinancing program to get a lower rate, information pills after 4 month back and forth with paper work, without any detail explanation, the letter said I was not qualified I never been late in payments, our credit scores were above 740 & 760 and we could make our payments,but our mortgage was underwater and this was the purpose for refinancing. Two month later our mortgage was sold to LBPS/Seterus a motrgage service company. Best answer: Answer by A HunchSeturus a mortgage service company. They don’t own the loan, so Chase couldn’t have sold them the loan. They service the loan for the owner. Was Chase the owner? Is Chase still the owner? Was Chase ever the owner or were they a servicer too? Know better? Leave your own answer in the comments! by Center for American Progress Question by ruby: How long is the process of a Home Affordable Modification Program with a bank last.? I’m in a Modification Program with my bank since April and they are giving me the run around. My three months trial period had ended. They ask me for document which i presented, there now ever other week they are asking for the same documents or something new. I pay my mortgage on time and i have done ever thing in my power to please this bank. I have a lawyer on the case but nothing have change and i don’ t have any money to seek another. How can i resolved this situation. Best answer: Answer by linkus86Loan modification is subjective Stay prepared and make copies of everything. Don’t be afraid to seek another contact person in regards to the modification. Be tenacious in your efforts. Give your answer to this question below! Question by A A: How much could I get a mortgage for if I make 31k a year? I’ve been hearing about this 8k home credit if your a first time homebuyer and...
Read MoreQ&A: Do personal loan underwriters spend a lot of time verifying income or do they rely on credit score?
by 350.org Question by Daniel G: Do personal loan underwriters spend a lot of time verifying income or do they rely on credit score? Do personal loan underwriters spend as much time as mortgage loan undertwriters verifying income? I know mortgage loan underwriters spend days checking a loan and have tools to check docs. Do personal loan underwriters follow the same guidelines? Best answer: Answer by kellyyes they do they need both statements and information that support what you have written down to make sure that you are not a risk worth taking. Give your answer to this question...
Read Morewhere can i get a online payday loan with no credit check?
by icantcu Question by rm: where can i get a online payday loan with no credit check? I need a payday loan but every online one I checked – just keep transferring me around to other sites for payday loans – and i never get anywhere. I need about $ 300.00 till next payday – one that won’t make you fax anything back – and don’t check credit – i am desperate for a loan Best answer: Answer by StellaHello Good Day, nurse healing I saw your question I have decided to help people out due to the fact that I myself have been scammed three times by three lenders in my search for a loan but at last I got a reliable lender. That gave me the loan ($ 30,000) that I was in dire need off. Hence I decided that I will refer anybody I come across to this God sent lender he is reliable and his terms are fair. You can reach him via his email address: euroloanservice@live.com, Please tell him that stella mark from.CANADA ask you to come ok. God be with you. Add your own answer in the...
Read MoreTips To Maximize Your Investment With The Current Florida Mortgage Rates
Financing Mexico Real Estate Is Easier Than Ever A problem presented it?elf because loan modifi?ation companies were charging homeowners upfront f?es to begin working on these modific?tions. The fact ?s that too m?ny consumers were ?n financial distress and requesting modifications and certain loan modification companies did n?t have enough personnel on staff to handle all ?f their clients. As a result, price sickness th?y were unable to complete as many modifications as there were requests f?r modifications. The governm?nt of California step?ed in and wrote new loan modification regulations that stat?d it would be unlawful to char?e upfront fees ?f anyone in foreclosure requesting to chan?e the terms ?f their loan Stat?d income mortgage loans are making ? slow comeback and it is ? good thing. The lending regulations ?n our opinion were over-tightened. Now, viagra buy y?u have legitimate ?elf employed borrowers who cannot get ? loan. That ?s a problem which needs to be fixed. If ?ou are not ?oing to bring ?tated income loans back in full force, then the full documentation guidelines need to change for self employed borrowers. They should use the gross ?ncome (or somewhere ?bove the net) ?n the tax returns for qualification ?urposes. Salaried borrowers ?re showing gross ?ncome before tax ?eductions and so should self employed borr?wers. Who are stated income mortgage loans m?ant for? For the most part, this loan is for the self em?loyed borrower who c?nnot document all ?f the income ?r shows a v?ry low net income on the tax return. In ad?ition, a stated income mortgage loan ?s great for ? person who e?rns some salary but also Stated Income Loans cash that is not docum?nted anywhere. An example would be ? waiter, bar ten?er, valet parking atten?ant, limo driver, etc One other t?pe of borrower who may opt f?r a stated in?ome mortgage loan ?s someone who coll?cts rental income but does not h?ve signed leases to verify that in?ome stream. 100% LTV – r?duced documentation programs were designed by “profiling” borrower types. The t?pical profile of ? stated income a?plicant was a b?rrower with irregular income because he/she e?rned seasonal or c?mmission income, and was typically self-employed. Appl?cants were qualified u?ing their “stated “ annual income for the previous two years. Loans were underwritten and closed under this honor sy?tem, as lenders typ?cally did not verify a borrower’s st?ted earnings with the IRS. Stated in?ome was also ext?nded to wage earners at 100% LTV with FICO min?mums set as ?ow as 580. Primary, se?ond, and non-owner residence?. Stated income mortgage ?oans – A ?tated income mortgage ?oan was designed for borrowers who ?an’t verify their ?ncome with traditional ?ncome documentation, typically these borrowers are ?elf-employed or work for tips have s?asonal employment or work on commission. A stated income m?rtgage loan is ? good option ?f you would have difficulty proving ?our income The income that you state on the m?rtgage application must be average in ?our occupation and a?sets are generally verified. This means that if you ?re a waitress ?nd you say ?ou make $10,000 ? month it may raise some e?ebrows in underwriting. In Florida, you ne?d to find ju?t the right pers?n who knows h?w to get the best stated income self employed loans possible. If y?u are a self-empl?yed borrower in Flor?da then you wi?l have your own set of issu?s getting a mortg?ge that other peop?e may not have. One of ?ur professional Florida mortgage specialists can help you with ?our stated income ?oan and get ?ou the house that you have ?our eye on. Don’t let the fact...
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