Entries from Dan Melson's Website tagged with 'loan qualification'
New Consumer Article: The 2010 Good Faith Estimate (Page Three)
Today we have the final installment in the series on the new Good Faith Estimate formThe 2010 Good Faith Estimate (Page Three). Your government that should be protecting you from the worst sort of mortgage provider lies is now actively...
New Consumer Article: The 2010 Good Faith Estimate (Page One)
It's been a while, but the most recent Transaction From Hell (seller's tenants didn't want to move out - or even let inspectors in) is finally over and I've had a little bit of chance to recover. Today's new consumer...
New Consumer Article: Changes In The Mortgage Market And Transparency Since 2005
It's been a while because I've been both busy and depressed over dis-improvements in the market and their effects upon consumers, but yesterday I found time to write a new article Changes In The Mortgage Market And Transparency Since 2005....
New Consumer Article: Automated Underwriting In Pre-Qualification or Pre-Approval Letters
The new consumer article for today is Automated Underwriting In Pre-Qualification or Pre-Approval Letters. Not to put too fine a point on it, automated underwriting is useless until all details of the transaction have been finalized. If you're selling a...
New Consumer Article: Some Offers Are More Equal Than Others
The new consumer article for today is Some Offers Are More Equal Than Others, talking about how to evaluate two different purchase offers even though they may be for the same or similar amounts of money. This is primarily important...
New Consumer Article: They Told Me Not To Make My Loan Payment
The new consumer article for today is They Told Me Not To Make My Loan Payment. Ladies and Gentlemen, that's one of the top ways to get yourself in trouble when you're refinancing. What if your new loan cannot be...
New Consumer Article: There Is No Fairy Godmother for Loans
The new consumer article for today is There Is No Fairy Godmother for Loans. To avoid becoming a government statistic, ask prospective loan providers the hard questions before you sign on the bottom line - or better yet, before you...
New Consumer Article: Student Loans and Real Estate Loans: Default, Repayment vs. Nonpayment and Consolidation
The new consumer article for today is Student Loans and Real Estate Loans: Default, Repayment vs. Nonpayment and Consolidation. These are the three issues that are most common for loan applicants to run afould of....
New Consumer Article: Restricted Sale Property: Very Difficult to Find A Loan
The new consumer article for today is Restricted Sale Property: Very Difficult to Find A Loan. Before you make an offer on restricted sale property, know that your financing options are going to be very limited, and being able to...
New Consumer Article: 105% Refinancing With No PMI (Maybe)
The new consumer article for today is 105% Refinancing With No PMI (Maybe). It goes over the straight scoop on Fannie and Freddie's new programs aimed at loss mitigation by helping people who would be able to refinance if values...
New Consumer Article: How Agents Should Respond To An Appraisal Below Purchase Price
The new consumer article for today is How Agents Should Respond To An Appraisal Below Purchase Price. The appraisal is a significant client protection, and trying to manipulate the appraisal to make the transaction happen is not in a buyer's...
New Consumer Article: Stretching Your Budget Means Compromise
The new consumer article for today is Buyers: Stretching Your Budget Means Compromise. It's something too rarely covered by the press, and by real estate agents. There are tradeoffs in every choice a buyer makes, and unless they have a...
New Consumer Article: Loan Fall-Out And The Effects Upon Consumers
The new consumer article for today is Loan Fall-Out And The Effects Upon Consumers. The days when loan officers are willing to lock loans with just a social and the identity of the property are ending, if not already over....
New Consumer Article: The Difference Between a Reliable and Unreliable Prequalification or Preapproval Letter
The new consumer article for today is The Difference Between a Reliable and Unreliable Prequalification or Preapproval Letter. Whether you're a buyer or a seller, having the right lender letter is a good thing. If you're a seller, you know...
State of the San Diego Real Estate Market March 2009
Reminds me of this gold rush movie (one that I recommend watching if you have a chance) Okay, it's not quite like that, but correctly priced properties are flying into "Pending". It has to do with supply and demand. At...
New Consumer Article: Investment Property and Loan Qualification
The new consumer article for today is Investment Property and Loan Qualification. It has become exceedingly difficult to get credit for rental income when you apply for a new mortgage, with the upshot being that when the lender won't agree...
New Consumer Article: Getting A Loan In A Paranoid Lending Environment
The new consumer article for today is Getting A Loan In A Paranoid Lending Environment. Lenders today are over-tightening lending standards in over-reaction to the losses they have taken (which were their own fault), effectively nuking the barn after one...
New Consumer Article: Military Housing Allowance and Loan Qualification
The new consumer article for today is Military Housing Allowance and Loan Qualification. For all the nonsense the military puts up with, this is one instance where the government treats them better than just about any other employer....
New Consumer Article: Be Careful Moving Your Down Payment Money
The new consumer article for today is Be Careful Moving Your Down Payment Money. Underwriters want to see a trail on any money you have. If you don't have or can't show such a trail, the presumption is going to...
New Consumer Article: Fifteen Year Loans
The new consumer article for today is Fifteen Year Loans: Are They A Good Idea?. Lots of nonsense gets put out there about fifteen year loans, and to many people there is a certain cachet to only needing fifteen years...
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