Did You Apply for Mortgage Forbearance? If so, there are some things you need to know if you plan to sell your home or refinance.  I help my clients navigate these choppy waters and I’m happy to answer any questions you may have!  Feel free to PM me to discuss.

Did You Apply for Mortgage Forbearance? If so, there are some things you need to know if you plan to sell your home or refinance.  I help my clients navigate these choppy waters and I’m happy to answer any questions you may have!  Feel free to PM me to discuss.

Related Article Title: FHA – Eligibility After Forbearance – New Intel Written by: Tammy Butler, Master CMB, Publisher New Information on FHA Eligibility for Forbearance Clients: IMPORTANT READ – How soon out of Forbearance can an FHA borrower buy a home or do a rate/term refinance? FHA Released Mortgage Letter 2020-30 to explain how to […]

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Eliminating Student Loan Debt! Did you know that you can do a cash-out refinance to pay off student loan debt?  Home loan rates are at historic lows now, and possibly lower than the rates you are paying on student loan debt.  If you do not have equity in your own home, parents or other loving family members can do a cash-out on their property to help you out.  Interested in exploring this option?  Let’s Talk!

Eliminating Student Loan Debt! Did you know that you can do a cash-out refinance to pay off student loan debt?  Home loan rates are at historic lows now, and possibly lower than the rates you are paying on student loan debt.  If you do not have equity in your own home, parents or other loving family members can do a cash-out on their property to help you out.  Interested in exploring this option?  Let’s Talk!

Related Article Title: Fannie Mae – Student Loan Debt Requirements – Scenarios and FAQs – September 2020 Written by: Lloyd Rutherford, Staff Writer Student loans is the number one search item on the Mortgage Currentcy website.  We suspect that with COVID-related Forbearance issues, this topic will become even more important.  Fannie Mae has done an […]

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Attention Real Estate Partners! Income and Employment Fraud is increasing as technology continues to evolve. Before you spend hours helping someone search for a home, let’s get them approved for financing first.  It protects your time and your income!

Attention Real Estate Partners! Income and Employment Fraud is increasing as technology continues to evolve. Before you spend hours helping someone search for a home, let’s get them approved for financing first.  It protects your time and your income!

Related Article Title: Fannie Mae – DU Validation Service Release Notes – Effective October 17, 2020 & Best Practices for Income and Employment Verifications Job Aid Written by: Lloyd Rutherford, Staff Writer With this guideline update Fannie Mae is making a big announcement that will affect your processing flow and rep/warranty status on your files. […]

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Popular VA COVID Question…Answered! If I had to exercise my right to forbearance during COVID and am now back to work, can I refinance my loan? To refinance under the VA Interest Rate Reduction Loan, or a VA Cash-Out, a borrower must have made at least 6 consecutive monthly payments on the loan being refinanced. So, if you made 6 consecutive payments prior to forbearance, you can refinance now.  If you made fewer than 6 consecutive payments prior to forbearance, then you will need to make 6 consecutive payments after forbearance.  Let’s chat and plan your strategy! 

Popular VA COVID Question…Answered! If I had to exercise my right to forbearance during COVID and am now back to work, can I refinance my loan? To refinance under the VA Interest Rate Reduction Loan, or a VA Cash-Out, a borrower must have made at least 6 consecutive monthly payments on the loan being refinanced. So, if you made 6 consecutive payments prior to forbearance, you can refinance now.  If you made fewer than 6 consecutive payments prior to forbearance, then you will need to make 6 consecutive payments after forbearance.  Let’s chat and plan your strategy! 

Related Article Title: VA Circular 26-20-25 Change 1, Impact of CARES Act Forbearance on VA Purchase and Refinance Transactions, September 15, 2020, Effective immediately. Written by: Tracey Rumsey, Staff Writer How to guide your clients who exercised their Forbearance rights under the CARES Act will be an ongoing topic for mortgage professionals.  In this update […]

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True or False?  Fannie Mae will not require you to pay off a collection when you finance your primary single-family residence. [Originators, reach out to those who respond and offer them your services]

True or False?  Fannie Mae will not require you to pay off a collection when you finance your primary single-family residence. [Originators, reach out to those who respond and offer them your services]

Related Article Title: When Do Collections Need to Be Paid Off? Question: I have a conventional loan borrower with a $60,000 collection.  It is not a charge off or a lien.  When I ran DU the loan was approved.  Does the collection need to be paid off?  Your chart says it does not need to […]

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