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What Is a Reverse Mortgage

Are you a retiree? Maybe you’re getting close to retirement? There is a mortgage program you’ve probably heard of but it can take a bit of explaining. Just the term “reverse mortgage” sounds counterintuitive. What does the term mean? The term “reverse” is compared to...

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What is a Direct Lender and Why is it Important

The mortgage industry continuously evolves as lending guidelines change, new programs are offered and federal regulations are implemented. Yet even with these changes mortgage lenders mostly offer the same basic suite of mortgage loans including government-backed...

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What Income Can I Use to Qualify for a Mortgage

Lenders are required to verify a borrower’s ability to repay the mortgage. Doing so protects both the lender as well as the borrower. The borrower takes out a mortgage and the monthly payments are comfortable for them and the lender is protected by receiving what is...

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What Hard Money Lenders Look For

Real estate investors are always on the lookout for new opportunities. They know that when a potential project is found, many times it’s how quickly the investor can come up with the financing. Investors like to keep as liquid as possible in order to have cash on hand...

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What Does Findings

What Does “DU Findings” Mean? Mortgage lenders have their own unique vocabulary. That’s not really that odd because most industries do have their own language they communicate with but with mortgages, consumers really don’t have the much experience with them and it’s...

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What Are Loan Modifications

A loan modification isn’t as common today as it was a few years ago when the housing market was adjusting to the financial conditions in the late 2000’s. A loan modification is a permanent change to the original note such as an adjustment in the loan amount, term or...

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VA Streamline Basics

For those who currently have a VA home loan they already know about the advantages a VA mortgage offers. VA loans do not require a down payment. Zero. This feature alone is probably the most talked about advantage VA loans offer. In addition, VA loans restrict the...

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Know the Difference Between Assets and Liabilities

When you start work on your loan application you begin to notice the application is fairly wide reaching. There are a lot of questions directed at balancing out your assets and liabilities. Your lender will also want to know your name and where you’ve lived over the...

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Trump

Trump, Merkel and the Weather…They Can All Affect Interest Rates. Really? When lenders set their interest rates each and every day, to the average consumer it might appear there is no rhyme nor reason as rates seem to vary just a bit over time. Sometimes the variances...

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