Archive | Estate Planning

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FINANCIAL ASSESSMENT FOR RM’S IS WORKING

Acquiring Date In its fifth year, FHA’s policy of requiring the financial assessment of the borrower’s ability to pay has cut tax and insurance defaults by over three quarters and serious defaults by over two-thirds. This article by New View Advisors quotes Ginnie Mae data, they state, “We grade Financial Assessment’s performance as a solid […]

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WHY IS MORTGAGE INSURANCE A GOOD THING?

Dennis Smith: Author, Chef, Financier; Co-Owner/Broker at Stratis Financial, Huntington Beach; MLO Student Question of the Week Why is mortgage insurance a good thing? Answer Last week in the Weekly Rate & Mortgage Update we discussed if home buyers should wait until they have 20% for down payment before purchasing (you can read the WR&MU, […]

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Make Buying And Selling Home Easier

Many Articles Are Written About How Real Estate Agents Should Treat Clients Be positive, alert, answer phone calls and return electronic messages at once, be available, etc. Jaymi Naciri wrote an article from the other directions. “10 Things To Never Say To A Real Estate Agent.” Buyers And Sellers, You Might Say, “Why Do I […]

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New Information For Borrowers and Home Owners

All Owners Borrowing On Their Personal Residence For “Consumer Purposes” Must Receive A Federal Booklet, “Your Home Loan Toolkit” It is an excellent source of information concerning loans. The booklet is available free at www.cfpb.gov. I Want To Discuss The Last Section In The Booklet Title: Owning Your Home, subtitles-Owning a home is exciting; your […]

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Follow Up To Loan Pre-Approval

I Discussed The Reasons For Getting Pre-Approved For A Loan Before You Start Shopping For A Home Does getting approved beforehand guarantee that you will get the loan you want. Again, quoting the National Assoc. of Realtors, “Being pre-approved is not a sure-fire way of obtaining a loan either”. Yes, after you get approved, many things could go […]

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