Ray Wateska of Westshore Mortgage & Investments Co., Inc. gives you an overview of his Commercial Hard Money Mortgage Loan Programs.
http://WestshoreMortgage.com
http://CommercialMortgages.RayWateska.com
http://CaribbeanMortgageLoans.com
http://CommercialProjectConsulting.com
Duration : 0:4:33
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One of the most frequent questions we get asked is “Are you in the real estate industry?” Many people wonder if we just report on the news and technology affecting the industry, or if we’re actually practicing real estate professionals.
We actually are in the real estate industry. We work for a mortgage banker in San Antonio, Texas. This basically means two things for our viewers:
We practice what we preach on the show, on a daily basis.
We feel your pain.
Here are three things we encounter on a weekly basis that can cause your client’s mortgage loan application to explode.
The Big D, And We Don’t Mean Dallas
If I had a $1 bill for every time someone tried to apply for a loan while going through a divorce. I would have, um, numerous dollar bills lying around.
Seriously though, this happens more often than you’d think. Most seasoned mortgage professionals catch on to this pretty quick and handle it accordingly. Going through a divorce doesn’t alone disqualify you from getting a mortgage loan, but it does raise several questions and issues for most lenders and investors.
Banks or anyone for that matter, have no interest in getting caught up in the emotional and financial woes of a divorce. That is unless you have the proper documentation. Most divorces actually lead to a refinance, and often times it happens before the divorce is final.
The borrower needs to come with an agreement signed by both parties as to who gets the home, so the banks know who to qualify the loan for. It can be done, but it can get hairy, especially if your client tries to keep the information hidden from your or the lender. It’ll come out eventually.
A Career Change
In the recent economic environment many people have had to change jobs. Mortgage lenders understand this fact. The problem is Government and Investor overlays greatly decrease the chances your client will get a home loan. These job related overlays have hindered many from cashing in on these historically low interest rates.
Having a two year work history is the industry standard for what it takes to qualify. This rule has a few caveats though. A job change doesn’t necessarily mean a career change. If your client is an RN for a local hospital and moves to another hospital with the same job title, you should be ok.
The most shocking development as of late has been the growing number of borrowers that leave or change jobs in the middle of a loan transaction. Make sure you and your lender are advising you clients to stay put. It might seem like common sense to you, but don’t overlook this potential deal breaker. You’ll regret it later if you do.
The New Deal About New Debt
One of the biggest issues in recent memory for why mortgage loan applications explode is your client taking on a ton of new debt right before or during the loan process. The most notorious examples are buying a new car or a lot of new furniture on credit.
This also applies to currently opened trade lines. One of the newest investor overlays is a requirement to pull a new credit report just days before the loan closes. Any new debt can throw your debt-to-income ratio out of whack.
Make sure you’re advising your clients to hold off on these purchases until after closing. The last thing you want to see is a deal blowup because your client just had to have that new leather couch or titanium side by side fridge.
Duration : 0:4:42
http://www.ribi.biz An excellent video explaining the crisis of credit. This is something that Businesses Coaches, Business Consultants and Financial Planners will find useful to educate their clients. Presented by http://www.ribi.biz – the Results in business Institute.
Besides, its really well done! created by jonathanjarvis.com Check out his site!
Duration : 0:9:54
Mortgage Loan Officer Tom Saras talks about the W.I.S.H. program for first time home buyers. He says you only need a little down to own your own home when you qualify. For more about the WISH program call 818-340-5300. Spanish speaking first time home buyers contact Aida Mayo, 818-618-9226.
Tom Saras, mortgage loan offices is dedicated to helping buyers acquiring their first home. He is sharing this information with hope of giving first time home buyers that extra edge in getting their mortgage loan approved. If you would like to find out more if you are qualified for the WISH Mortgage Subsidy Program please feel free to contact him throught MAYO Communications. He is available for a free, and there is no obligation to a personal consultation. Tom Saras is a seasoned Mortgage Professional with more than 20 years of advanced mortgage experience.
He has served as Vice President & Underwriter position for a Non-Supervised Mortgagee, HUD/FHA Approved Lending Institution; A multi-state wholesale/retail mortgage banking company.
“With today’s credit crunch, obtaining a mortgage loan could be a strenuous nightmare for just about any person looking to purchase or refinance a loan,” said Saras “It is a major problem today, it that even though many borrowers have adequate income and good credit, a majority of loans are not being approved and this can be very frustrating for anyone.”
Saras also said. whether the issue may fall under income or credit, every loan transaction comes with its own individual challenges. It is important to analyze and understand each transaction and find a solution to get your loan approved. There is almost always a way to solve that issue,” explains Tom.
As a Mortgage Professional, who seeks a solution for the individual need of every person, Tom Saras has successfully analyzed and re-structured numerous loans that would not have originally been approved.
Tom also holds an FHA Direct Endorsement underwriting credential. This endorsement is issued by HUD (Housing Urban Development), which holds a tremendous advantage in the analysis of nearly every loan transaction; this is especially true in pre-qualifying or pre-approving a loan. For more on how to apply visit: mortgagesubsidy.com.
For media interviews contact Publicity@mayocommunications.com or call 818-340-5300.
if you are a first time homebuyer (Se Habla Espanol) call: 818-618-9226 to learn more about the program and to be connected to a licensed loan officer and or real estate broker on the W.I.S.H. program. The money funded by the government is limited.
Duration : 0:1:8
http://www.504Experts.com It’s officially been one year since the Small Business Jobs and Credit Act was passed into law. While some good has come from it, there are a few things that have been pretty ineffective so far. The two things that frustrate Chris Hurn, the SBA 504 Loan Expert, the most are the First Mortgage Lien Pool (FMLP) Program and the SBA 504 Loan Refi Program.
You probably know that at Mercantile Capital Corporation we are not proponents of “big government” and increased regulations, but these two programs could be extremely effective when it comes to helping small business owners and the US economy. Plus, they have to do with the SBA 504 loan program which is a zero-subsidy program — it’s funded by borrower fees, not subsidized by the government. Right now, both the FMLP and the 504 Refi Programs are in need of our help. Watch this video to find out what needs to be done to make these programs more effective, and what we’d like YOU to do to help.
Duration : 0:6:28
Finding A Good Mortgage Lender in Hernando County is not easy. Steve Fingerman and his team of Mortgage Professionals in Spring Hill Florida makes it easier. For the best service when getting your Mortgage in Spring Hill FL call Steve Fingerman today at 3
Duration : 0:1:33
http://www.howardlawpc.com – California predatory mortgage lending lawyer Howard Law PC advocates for homeowners who have experienced mortgage problems with banks and lenders.
Duration : 0:1:1
http://mortgagemovies.blogspot.com/2011/09/kingcastmortgage-movies-checks-in-on.html .. And .. http://mortgagemovies.blogspot.com/2011/09/kingcast-and-mortgage-movies-return-to.html
Duration : 0:4:1
Beds/Baths: 2 / 2
SF: 1,014 / County Assessor
Year Built: 1988
Pool: Community
EF: 22RDX1C
Approx Lot SqFt: 717
Amazingly clean, move-in ready 2 bed 2 bath condo right on the border of North Phoenix, and North Scottsdale! Location is perfect, near shopping, dining, culture, professional sports, and more! Home features wood floors, custom paint, cozy fireplace, gourmet kitchen, and so much more! Why wait months for a “short” sale, when you can move into this gorgeous place in just weeks!? And remember, you can purchase this property for as little as 3% down! This property is approved for HomePath Mortgage and HomePath Renovation Mortgage Financing.
Duration : 0:5:3
Ray Wateska of http://WestshoreMortgage.com Introduces Westshore Mortgage & Investments Co., Inc. and their Commercial Mortgage Loan Programs. Westshore Mortgage is Federally registered and State Licensed and has an “A+” Consumer Rating for their outstanding service.
http://CommercialMortgages.RayWateska.com
http://CaribbeanMortgageLoans.com
http://CommercialProjectConsulting.com
Duration : 0:1:24