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It Doesn’t Take A Rocket To Get To The Top.

 

I had an idea for a new business.  It’s a website where sick patients can go to diagnose their ailment.  Simply type in your symptoms and the website will diagnose your disease, prescribe medication, and ship it to your door within 24 hours.  No need to speak to a doctor or a pharmacist.  . . . → Read More: It Doesn’t Take A Rocket To Get To The Top.

Coming HELOC Resets Could Have Dire Consequences for Homeowners

 

The majority of Home Equity Lines of Credit (HELOC) in America were originated at the peak of the home equity boom between 2004 and 2008.  Since most HELOC’s have a ten-year draw period, there’s concern over the potential wave of defaults coming when the estimated $190 billion in HELOC loans reset between 2017 . . . → Read More: Coming HELOC Resets Could Have Dire Consequences for Homeowners

CFPB Data Reveals NEARLY HALF of All Mortgage Applicants Rejected!

 

In 2011, The Wall Street Journal published an article (Tighter Lending Crimps Housing, June 25, 2011) reporting the nation’s 10 largest lenders denied 26.8% of their loan applications.  In New York State, the percentage of loans rejected was an astounding 34.8% of their loan applications!  Those were incredibly high numbers!

 

Yet according . . . → Read More: CFPB Data Reveals NEARLY HALF of All Mortgage Applicants Rejected!

Home Buyer Shortage Threatens Recovery

 

(As reported in the Wall Street Journal, Home Buyer Shortage Threatens Recovery, Thursday, 08/11/16.)

 

The housing market may have clawed its way back to a modest recovery; but there are a tremendous number of middle-class Millennials who seem destined to remain permanent renters.

Nationwide, homes have generally regained their values lost in . . . → Read More: Home Buyer Shortage Threatens Recovery

As Simple as a Rocket? I Think Not.

 

There are people who would like you to believe that all products and services should be as easy to choose as a pack of chewing gum.  In fact, Senator Elizabeth Warren notoriously once said that obtaining a mortgage should be as simple as buying a box of cereal.

 

But is that truly . . . → Read More: As Simple as a Rocket? I Think Not.

When Is A Reverse Mortgage Beneficial? Ask This Client! (Part 2)

 

 

Scenario:         Borrower is retiring at 62 and his income will drop from his $100,000 per year salary to $40,000 per year.  He must remain in his home for another five to ten years before he can sell, at which time he plans to move to a retirement community down south.

 

PROBLEM:    . . . → Read More: When Is A Reverse Mortgage Beneficial? Ask This Client! (Part 2)

Biggest Problem With Reverse Mortgages Remains A Lack of Public Understanding.

 

 

Reverse mortgages have long suffered from a negative public perception which has been difficult to dispel.  In truth, reverse mortgages are a reputable product and viable instrument for many seniors!  Yet this negative perception of reverse mortgages remain, largely due to widespread public ignorance, unethical lenders and loan originators who misused the . . . → Read More: Biggest Problem With Reverse Mortgages Remains A Lack of Public Understanding.

Need More Proof Why You Should Work ONLY With a QUALIFIED Certified Mortgage Planning Specialist®? – Part 4

 

 

Scenario:        Borrower was casually looking for a new home and found the perfect house that was too good to pass up.  In order to make the deal, he agreed to purchase all-cash.  He could always obtain a mortgage later on after the closing.  Couldn’t he???

 

 

PROBLEM:  He closed on the . . . → Read More: Need More Proof Why You Should Work ONLY With a QUALIFIED Certified Mortgage Planning Specialist®? – Part 4

Need More Reasons Why You Should Use a QUALIFIED Certified Mortgage Planning Specialist®? Ask Another Client! – Part 3

 

Scenario:        Self-Employed Borrower owns a wholesale food distribution business.  He wants to purchase a new home, and then afterwards, sell his current residence.  He has good credit, and a large down payment.

 

PROBLEM:  He spoke to ‘His Bank’ for a mortgage.  After all, he’s a good customer and shows millions of dollars . . . → Read More: Need More Reasons Why You Should Use a QUALIFIED Certified Mortgage Planning Specialist®? Ask Another Client! – Part 3

Why Use a QUALIFIED Certified Mortgage Planning Specialist®? Ask This Client!

 

 

Scenario:  Borrower recently divorced.  For over ten years, she’s managed the house and raised her children.  She hasn’t worked outside the home since her children were born.  Currently, her only income is alimony and child support.

The Divorce Agreement requires she buy out her ex-husband.  Otherwise the house must be sold.

 

. . . → Read More: Why Use a QUALIFIED Certified Mortgage Planning Specialist®? Ask This Client!