Category: Blog

Part 3 of 7: Protection Against Loan Adjustments

The Dodd-Frank Act protects buyers from loan adjustment fees.   If you’re gearing up to buy a home, what is your loan really going to cost you? In the past, lenders were required to give buyers a good-faith estimate, but these weren’t very accurate. In fact, if you bought a home before the economic crash, …


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Part 2 of 7: The Dodd-Frank Act and CFPB

The Dodd-Frank Act created the CFPB, one of the strongest federal agencies we’ve ever seen. Here’s why it was created and how it works. On part two of our series about what has changed since the mortgage meltdown, we’re taking a closer look at the Dodd-Frank Act and specifically, the Consumer Finance Protection Bureau. The …


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Part 1 of 7: How the Mortgage Industry Protects To...

Today we’ll discuss one of the first changes to the mortgage industry stemming from the meltdown: the National Mortgage Licensing System. Welcome to my new seven-part video series titled “What Changed After the Mortgage Meltdown.” For the first installment, we’ll discuss the National Mortgage Licensing System (or the NMLS). What is it and why is …


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How to Use FHA Financing to Your Advantage

FHA financing will not only let you buy with a low down payment, but they’ll also let you buy a two-unit property with it. Here’s how. One of the problems that I’m noticing in our local community in the L.A. area is the cost of buying real estate. It’s probably happening in your area too. …


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A Solution to Mortgage Approval Changes

Recent changes were made to the mortgage algorithms that approve homebuyers, but there’s a solution to these changes. Free Home Purchase Qualifier Free Home Refinance Rate Checker Many of the ways we lenders look at risk in terms of approving mortgages are through algorithms, and important changes to these algorithms were made on July 20 …


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A Secret About FHA Mortgages

FHA mortgages have a unique feature that makes them a powerful tool when it comes time to sell your home. Free Home Purchase Qualifier Free Home Refinance Rate Checker I have a secret about FHA financing that I’d like to share with you today. I love FHA financing. I look at it as the federal …


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What You Should Know About Escrow Accounts

Today, let’s talk about some of the advantages and disadvantages of escrow and impound accounts. Here’s what you need to know. Free Home Purchase Qualifier Free Home Refinance Rate Checker An escrow, otherwise known as an impound account, actually relates to who is in charge of paying for the property taxes on a home, as …


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How Does a Lender Look at Your Income?

The way you earn your income is a big factor in getting qualified for a mortgage loan. Here’s why. Free Home Purchase Qualifier Free Home Refinance Rate Checker I’ve discovered that we all earn income differently. So today I wanted to spend just a couple minutes to talk about the different kinds of income we …


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When Can You Remove Your Mortgage Insurance

For most homebuyers, mortgage insurance doesn’t last forever. Here’s when you can remove it. Free Home Purchase Qualifier Free Home Refinance Rate Checker Does mortgage insurance last forever? For most of us, the answer is no. Eventually, you have the option of removing it. The lone exception, however, is if you used FHA financing and …


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What Is Mortgage Insurance & How Does It Work...

You’ve probably heard of mortgage insurance, but might not understand what it really is. Today we’ll explain what mortgage insurance is and why it matters. Free Home Purchase Qualifier Free Home Refinance Rate Checker Private mortgage insurance, or PMI, is a term most of us are familiar with—especially the homeowners among us. What’s its function …


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