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

NEW VA REFINANCE GUIDELINES EFFECTIVE FEBRUARY 16, 2019

In an effort to take better care of our active duty service members and Veterans, VA has made some significant changes to both the IRRL (interest rate reduction refinance loan) and the cash-out refinance options. Historically, almost immediately upon closing … Continue reading

BY DEFINITION A PROMISSORY NOTE IS…

BY DEFINITION A PROMISSORY NOTE IS…

Wikipedia defines “A promissory note as a legal instrument (more particularly, a financial instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a … Continue reading

SELF-EMPLOYED? HAVE DISPUTED CREDIT OR COLLECTIONS? NEED CLARITY ON THE DEFINITION OF A FAMILY MEMBER?

Effective April 1, 2012, FHA will require self-employed borrowers provide a Profit & Loss Statement if their last business tax return is more than 3-months old and an audited Profit & Loss Statement if the income reflected on their Profit … Continue reading