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Death by Detail!

Death by Detail

We all have met with the insurance salesman and died a slow death as our eyes glazed over and our head wanted to hit the table. Or wished for the worst torture we could imagine just to get out of the meeting.

Well prepare yourself for the latest and greatest torture technique to be developed since the dark ages, this one is worthy of the al Qaeda operatives and the like, better than water boarding.  It’s what I call Death by Detail now offered by your local Loan Officer.  This one sneaks up on you, seeming innocent in the beginning but slowly begins to pull you in little by little.  Beware, it’s like the wood chipper ready to grab your sleeve and drag you in to its jaws. Read the rest of this entry

Why would a consumer work with a non-licensed Mortgage Originator?

As I read over the internet each day to see what is new and trending, I came across this great article.  I started thinking, many consumer’s (buyer’s) don’t know the difference or requirements for Licensed Loan Officers and Bank Originator:

Why would a consumer work with a non-licensed Mortgage Originator?

Following the release of the QM and Ability to Repay rules from CFPB, I decided to try to read through the proposed Loan Originator Compensation rules. I found this pretty interesting. Instead of making additional regulations for Mortgage Originators who work at banks or credit unions, why not just make them subject to the SAFE Act and require them be licensed?  Read the rest of this entry

Can’t refinance? Consider ‘recasting’ instead!

If you’ve found that a refinance isn’t for you, there may be another option for lowering your monthly mortgage payments — if you can pull together some cash. Read the rest of this entry

FHA 203k Rehab Loan: Advantages and Disadvantages

An FHA 203k rehab loan is a very popular loan that many people use to fix up houses. With a 203k loan, you get access to a government-backed loan program to get the money you need. There are many aspects involved in the FHA 203k loan program and they have advantages and disadvantages associated with them. Here are a few things that you should consider before getting involved in a 203k rehab loan. Read the rest of this entry

How to Own a Home in 2013!

Happy New Year, welcome to 2013.  Many people may have a New Year’s resolution to become a homeowner in 2013.  Well, Property Guiding would love to help you make this a realty.  I want to start again with the basic information to get things going: Read the rest of this entry