Posts

Qualifying For Mortgages With Assets Only – No Income Necessary

WHOM ARE ASSET BASED LOANS GOOD FOR? Asset based loans are perfect for two types of borrowers: (1) wealthy borrowers with very complex financial pictures that would make qualifying in the traditional manner a nightmare; and (2) borrowers with ample assets but too little income to qualify. HOW DO ASSET BASED LOANS WORK? INCOME: Income […]Read More

Please Don’t File Your Taxes – If…

TAX DEADLINE = MAY 17th B/c of COVID, the filing deadline for income taxes was extended from April 15th to May 17th this year, as most everyone knows. We typically send out this reminder in March, but I waited this year until now b/c of the deadline extension. WHEN BUYERS SHOULD NOT FILE TAXES We […]Read More

5 Things To Consider When Buying A House

These are 5 things every homebuyer should consider when buying a house in California and Texas. 1: INSIGHT INTO CURRENT MARKET CONDITIONS According to recent data from Zillow, the median home value in California is $578,267. Over the last year, home prices increased by 4.4% and are expected to fall by 1.1% in the next 12 […]Read More

Forbearance Confusion; Refis Dominate Market; Purchases Still; Mortgage Industry Remains Alive

FORBEARANCE CLARITY The mortgage industry, terrified of a mass onslaught of payment forbearances, was alarmed by a misleading report by CNBC. Reporter Diana Olick said that borrowers obtaining a forbearance could tack the missed payments on to the end of the mortgage. This is not true, however, as most servicers will try to recoup the […]Read More

Types of Loans: FHA, VA, Gov’t, Conventional, Conforming, Jumbo, etc.

There is often a lot of confusion about the names and types of mortgages available in the market place. Here is some general information to address some of the confusion. I. “Government Loans” are mortgages that are either insured or guaranteed by the government or a government agency. They include FHA, VA and USDA loans. […]Read More