IRRRLs Explained From #1vet2another
IRRRLs are great opportunities for Veterans to save on mortgages – that’s why predatory lenders are trying to take their savings Phil Stevenson isn’t just the Mortgage Nerd - he’s also a Veteran. From 2002 to 2004, Phil had the honor of serving with the US Army [...]
Bank Statement Loans
This is the largest and most popular program with the Non-Qualified Mortgage or Non-QM arena. It is primarily, but not limited to, self employed borrowers who make more money than is shown on their tax returns. What do I mean? Hotel owner buys hotels, fixes them up, then gets the [...]
5 Things All Seniors Should Know About Reverse Mortgages
If you’re 62 or older, here are some things you need to know about reverse mortgages A reverse mortgage is one of the most misunderstood assets available to people 62 and older. Often, people get tangled and lost in the weeds, but the simple facts about reverse mortgages aren’t that [...]
CFPB: Goodbye, Mr. TRID!
The CFPB (Consumer Financial Protection Bureau) has been reviewing and verifying several rules that they have implemented in the past, and the one that remains to be reviewed is the TILA-RESPA Integrated Disclosure rule, the TRID rule for short. It seems that eliminating the rule completely will be a possibility. [...]
USDA Mortgage Loans
No, we are not butchers selling you steak, haha. The USDA Mortgage is for rural areas, and offers the Guaranteed Rural Housing (GRH) Loan Program is designed to assist households in obtaining adequate but modest, decent, safe and sanitary dwellings and related facilities for their own use in rural areas. [...]
Reverse Mortgage Facts
Reverse mortgages help seniors with the costs of retirement by turning equity into cash, making the twilight years truly golden Odds are - if you’re over the age of 62 and own all or some of your home - you’ve wondered, “what is a reverse mortgage?” With all the [...]
