THE CYCLICAL NATURE OF THE MORTGAGE INDUSTRY – MIGHT HISTORY ALREADY BE REPEATING ITSELF?

Remember the old adage, “history repeats itself”? Well that phrase has never been more accurate than when referring to the cyclical nature of the real estate industry and the mortgages that support it. Just think back 11 years to the … Continue reading

TENANT OCCUPIED RENTAL HOMES FOR SALE!

In our current low inventory climate, any listing may sound like a good listing, but take note, tenant occupied rentals—as you can imagine— may come with their own set of issues. The most commonly raised concerns are: The tenant does … Continue reading

NO, YOU DON’T HAVE TO REFINANCE JUST TO CANCEL YOUR MORTGAGE INSURANCE

I repeatedly receive telephone calls from consumers looking to refinance their conventional mortgage simply to drop their expensive monthly mortgage insurance. A refinance is not necessary to accomplish this! A refinance is a costly way to accomplish something than can … Continue reading

VA LENDING GUIDELINES CLARIFIED

VA LENDING GUIDELINES CLARIFIED

Historically, the VA has provided very little guidance in several areas of lending. That practice is changing with the following clearly defined guidelines becoming effective May 23, 2019. Gift funds are acceptable from a donor who has NO affiliation with … Continue reading

FHA LOAN GUIDELINES CLARIFIED

FHA LOAN GUIDELINES CLARIFIED

Effective March 18, 2019, the Federal Housing Administration (FHA) announced that it began taking initial steps to better mitigate the increased risks in recent single-family loans. This announcement comes as a result of the decrease in average borrower credit scores … Continue reading