Major Changes to the Reverse Mortgage Program
On October 2, 2017, major changes to the reverse mortgage program came down the pike. Here’s what you need to know. What is it? HECM, or Home Equity Conversion Mortgage, also known as a reverse mortgage, underwent some changes this year as the MBA (Mortgage...
Which is Better? Loan Modification or Refinance?
Which is Better for My Situation? Loan Modification or Refinance? If you’re currently facing a situation where you are not sure if you’re going to lose your home you probably want to know your options before defaulting on the mortgage. You may have heard...Lake Forest – A Dining Celebration!
Once a year, Lake Forest has a literal Dining Celebration! On “Taste of Lake Forest” day, restaurants from around the city set up shop at the Foothill Ranch Towne Center to showcase their wares. For a single reasonably-priced ticket, only $10 per person, you can enjoy...Getting Mortgage Approval After Loan Modification
Many homeowners faced financial hardships during the recession. Loan modifications were and still are a way for homeowners to hold on to their home instead of losing it in foreclosure. If you are in the middle of a home modification or have had an approved...What is Debt to Income Ratio?
In the mortgage industry there are a lot of big words and terminologies being thrown around and while those that are familiar with the industry understand completely, most of the general public is left scratching their heads. So what is this term “debt to income...Understanding Debt and What Your Options Are
Debts: Understanding Your Options and How You Could Benefit from Freedom Financial Are you drowning deep in debt? Well, it’s a fact that a lot of us—at some point in our lives—find ourselves financially indebted to someone. The sad truth is that debt repayment...10% Down Payment on Jumbo Loan
Is a 90% loan to value jumbo loan right for you? If you are in the market for a home that is above $700,000 purchase price, a traditional loan might not be the best option. In this case, a jumbo loan is really what you want. Jumbo loans don’t fall into the same...Pros and Cons to the 15-Year Mortgage
Whether you are considering a 15-year mortgage as a first-time loan or as a refinance, there are pros and cons to the setup. Let’s first talk about a brand-new mortgage. Let’s say you are considering a $300,000 loan and a 30-year mortgage. This loan will...
What You Need to Be Ready for Your Home Loan Application
How to Prepare for a Home Loan Application Planning for home ownership is just as important as homeownership itself. Being prepared from the beginning can put you in a better place overall not only now but in the future. Nobody wants to purchase a home only to be...
Welcome to my Blog!
Here you’ll find tips, updates on mortgage laws and changes that can affect your loan or approval. Check back often for more great ideas.