Q&A: What are the chances of being approved to cosign for a student loan if I’ve modified a home loan?
by Vietnam Plants & America plants Question by jellofosho: how likely would you be audited if you apply for a low doc loan? in todays market (july 2008) what percentage of low doc loans are audited? Best answer: Answer by Bridget HAudited by who? I am assuming low doc means low loan amout also. Regulators? Not very likely. Internal audit? Probably just as likely as any other. What do you think? Answer below! Arkansas HARP Refinancing Specialist Uses New HARP 2.0 Program to Help … North Little Rock, ambulance AR — (SBWIRE) — 12/05/2012 — In October 2011, case Fannie Mae and Freddie Mac along with the Federal Housing Finance Agency (FHFA) announced modifications to the Home Affordable Refinance Program to make it easier for lenders to … If you would like more informaiton please visit here… Another Asterisk for Asset Purchases The federal government encourages mortgage companies to refinance borrowers whose debts exceed 80 percent of the value of their homes by instructing Fannie Mae and Freddie Mac to buy the new loans and to relax some of their usual conditions and … For more informaiton please visit here… Foreclosure Assistance Ads Unveiled Federal officials are launching a new ad campaign to raise awareness of the assistance that may be available to financially stressed homeowners through the Making Home Affordable Program (MHA). The Treasury … MHA has two major components, the Home … If you would like more informaiton please visit here… Question by Jackie N: Can I use a second mortgage to finance a new mortgage in California? My husband and I are considering taking out a small second (approx $ 10, ambulance 000) on our condo to pay the 3% downpayment required for a second home. We plan on using the FHA loan. Are we able to do this? We live in California, and lending rules are becoming very strict. Thank you in advance. Best answer: Answer by Dale HYou cannot use the FHA programs to finance a 2nd home purchase. If what you meant is that you are taking a 2nd mortgage against a condo you own to buy a new home in California to use as your primary residence, that should be okay provided you don’t have an FHA loan on your condo. Good luck and you are right. The whole landscape of lending has changed. Let me know if you have any other questions. Add your own answer in the comments! by Tomathon Question by logank1469: How low do you think mortgage rates will fall in the next 6 to 8 months? I live in Raleigh, cure NC . I’m wanting to buy a house some time this summer. I have a FICO score of 700+. I’m looking for 170K to 200K house with a 5% downpayment. what kind of interest rate can I expect for a standard 30 year fixed mortgage? Best answer: Answer by Thomas HThe mortgage rates right now are 5.63% for a 30-year fixed and 5.08% for a 15-year fixed. There is really no way of knowing if the rates will continue to fall. They can change daily! However, viagra you may be able to get more for your money. Raleigh/Cary had an increase of 122% of foreclosures last year. There are going to be more people looking to sell quickly, which is good news to the buyer! Give your answer to this question below! by marsmet462 Question by parker_sellers: Can I get a home loan with short-term W2 income from various companies? My fiance and I are trying to get pre-approved for a home loan, dosage and the...
Read MoreCan I get a home loan with short-term W2 income from various companies?
by Vietnam Plants & America plants Question by jellofosho: how likely would you be audited if you apply for a low doc loan? in todays market (july 2008) what percentage of low doc loans are audited? Best answer: Answer by Bridget HAudited by who? I am assuming low doc means low loan amout also. Regulators? Not very likely. Internal audit? Probably just as likely as any other. What do you think? Answer below! Arkansas HARP Refinancing Specialist Uses New HARP 2.0 Program to Help … North Little Rock, ambulance AR — (SBWIRE) — 12/05/2012 — In October 2011, case Fannie Mae and Freddie Mac along with the Federal Housing Finance Agency (FHFA) announced modifications to the Home Affordable Refinance Program to make it easier for lenders to … If you would like more informaiton please visit here… Another Asterisk for Asset Purchases The federal government encourages mortgage companies to refinance borrowers whose debts exceed 80 percent of the value of their homes by instructing Fannie Mae and Freddie Mac to buy the new loans and to relax some of their usual conditions and … For more informaiton please visit here… Foreclosure Assistance Ads Unveiled Federal officials are launching a new ad campaign to raise awareness of the assistance that may be available to financially stressed homeowners through the Making Home Affordable Program (MHA). The Treasury … MHA has two major components, the Home … If you would like more informaiton please visit here… Question by Jackie N: Can I use a second mortgage to finance a new mortgage in California? My husband and I are considering taking out a small second (approx $ 10, ambulance 000) on our condo to pay the 3% downpayment required for a second home. We plan on using the FHA loan. Are we able to do this? We live in California, and lending rules are becoming very strict. Thank you in advance. Best answer: Answer by Dale HYou cannot use the FHA programs to finance a 2nd home purchase. If what you meant is that you are taking a 2nd mortgage against a condo you own to buy a new home in California to use as your primary residence, that should be okay provided you don’t have an FHA loan on your condo. Good luck and you are right. The whole landscape of lending has changed. Let me know if you have any other questions. Add your own answer in the comments! by Tomathon Question by logank1469: How low do you think mortgage rates will fall in the next 6 to 8 months? I live in Raleigh, cure NC . I’m wanting to buy a house some time this summer. I have a FICO score of 700+. I’m looking for 170K to 200K house with a 5% downpayment. what kind of interest rate can I expect for a standard 30 year fixed mortgage? Best answer: Answer by Thomas HThe mortgage rates right now are 5.63% for a 30-year fixed and 5.08% for a 15-year fixed. There is really no way of knowing if the rates will continue to fall. They can change daily! However, viagra you may be able to get more for your money. Raleigh/Cary had an increase of 122% of foreclosures last year. There are going to be more people looking to sell quickly, which is good news to the buyer! Give your answer to this question below! by marsmet462 Question by parker_sellers: Can I get a home loan with short-term W2 income from various companies? My fiance and I are trying to get pre-approved for a home loan, dosage and the...
Read Morehow likely would you be audited if you apply for a low doc loan?
by Vietnam Plants & America plants Question by jellofosho: how likely would you be audited if you apply for a low doc loan? in todays market (july 2008) what percentage of low doc loans are audited? Best answer: Answer by Bridget HAudited by who? I am assuming low doc means low loan amout also. Regulators? Not very likely. Internal audit? Probably just as likely as any other. What do you think? Answer...
Read MoreQ&A: How do home loans work with your available credit?
Question by j j: How do home loans work with your available credit? When you check your credit score or report it shows that you have so much debt and then it shows available credit you have left if you were to get like a car loan or school loan. So how does a home loan fit into that. Do they go by that available credit or what they expect it to be within the regular 30 year mortgage period? Best answer: Answer by src50No – home mortgages are viewed differently from unsecured consumer debt like credit cards. Add your own answer in the...
Read MoreHow can a student with several loans get approved for a home loan?
Question by KEVIN Z: How do I build a successful career as a good mortgage loan officer in a down housing market? I have recently become a mortgage loan officer in the DFW area. There is not a lot of experience in my office. Any advice where I can get assistance to survive this market? I would be happy to learn how to close at least one loan per month then build from there. Thanks for your assistance. Best answer: Answer by DionannanBad timing. As I understand the housing market is down and still falling. Keep working at it and continue studying. The market will rise – When ………….. Watch the experts. Add your own answer in the comments! Some cool condominium images: Neon Lighted Condominium At Kota Kinabalu, viagra buy Malaysia Image by thienzieyung I was very surprised when I initial spotted this the night ahead of – Alam Damai Condominium lighted up with new neon lights at the top. For every single block, online there are four main sources of neon lights placed facing each other on the "L" shaped ‘pillar’ at the top rated. These lights modify colour repeatedly, but largely stays purple. It can adjust from orange and even to green. These lights are most likely only noticeable from places south of the condominium. That is, locations such as Luyang, Lido, Karamunsing. Areas such as Likas and Menggatal may not be capable to see it. The condominium genuinely kicks ass at night as these are possibly the first buildings to have such night lighting in Sabah. The windows are nevertheless dark the blocks are nonetheless unoccupied as of now. Photo taken at the shops along Kolam Road. Much more great houses click here… by eyewashdesign: A. Golden Question by Anna H: How can a student with several loans get approved for a home loan? I am currently a student with several student loans out in my name. I have a good credit score but am only able to work part time due to school. I make enough money to cover monthly rent with my boyfriend. We want to get into a house but I fear my loans and low income will make it difficult if not impossible for us. Best answer: Answer by JudyPlease follow 2 things: 1. Try your best to put 20% so you don’t pay that nasty PMI. It is not tax deductible, viagra 60mg and does not apply towards interest or principal. Like throwing away thousands a year. 2. Don’t let the banks bully you into any mortgage that has the words “variable or indexed” interest rates. Stick to 15 or 30 year fixed. / Know better? Leave your own answer in the...
Read MoreHow Important Is A Borrower’s Income In Getting A Home Loan? What Kinds Of Income Qualify?
Stated Income/Stated Assets Loans Are Growing In 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, treat 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 In Florida, cost 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 Stated Income Loans 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 that you ?on’t have a W2 job and that your loan will be paid ?ff using self ?mployment fund stop ?ou from getting ?nto the home ?f your dreams. 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, cheapest 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. 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 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...
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