This post was inspired by a comment from Alex regarding my post Borrowers Don't Wait for the Well to Run Dry. That post discusses some changes in mortgage underwriting guidelines and how it is getting more difficult for borrowers to qualify for a mortgage."Well it is sure the trends show that it
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01/16/2008
Looking for a hard equity lender who will loan on land only in Florida. Property is zoned agricultural. Looking for 50% LTV. 2 parcels - one is 10 acres and the other is 12 acres. Borrower says property is valued at 41K per acre. Any ideas?
01/14/2008
Randy Bolton has started a new group - Learn Mortgages and AUSHere's the purpose of the group as proposed by founder Randy Bolton:"Welcome to our educational group. Here we attempt to teach you the mortgage business. Starting with how to take a loan application, then, input a loan into an Automat
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01/08/2008
As reported by Mortgage News Daily, FICO is planning on releasing it's new credit scoring product sooner than planned. FICO states that this new system will help reduce default rates on mortgages and other consumer loans.The key points:Consumers will not be hit as hard for an occasional, or one
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01/07/2008
As a mortgage broker, I work with a lot of first time homebuyers. The loan process is sometimes scary and intimidating. It really doesn't need to be that way, however you do need to be prepared to provide certain information so the lender can determine if you can pay the loan back.A purchase th
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01/05/2008
