Don’t Get Burned by a Credit Freeze

Baby, it’s cold outside.

With Equifax and other companies reporting massive data breaches this year, more consumers are putting a freeze on their credit reports. And while a credit freeze won’t affect a borrower’s ability to qualify for a mortgage, it does require the borrower to take additional steps during the application process.

A credit…

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Industry advice: Homebuyer education benefits lenders, homeowners, and the industry | 2017-10-31

There’s a new way to set homebuyers up for sustainable homeownership

When borrowers who seemed promising don’t qualify, what can lenders do? Many are using homebuyer education to give these borrowers a positive path forward.

Homebuyer education can help borrowers improve their credit score and understand the long-term commitments of homeownership. With that learning under their belt, many may return to the lender’s pipeline.

Today, the go-to plan is homebuyer education

Homebuyer education, which often includes post-purchase follow-up and access to counseling, lasts just a few hours but can help buyers avoid common home-buying pitfalls. This education also gives homebuyers the tools they’ll need […] Read more

Speak Out – Daily Southtown

Orland Park has them. Tinley Park wants them. Upscale apartments and claims of demand for them is on the rise. Because of stagnant wages, a dwindling middle class, and more difficult hoops to qualify for a mortgage, a greater number of people will be in need of rentals. Upscale translates into higher rents and building owners could be anticipating an increase in qualifying government subsidized renters with guaranteed monthly payments. It sounds like the coming of the next real estate bonanza.

Tinley Park

Why is it that so many politicians feel that “honesty” doesn’t pertain to them? Most are good citizens but […] Read more

Loan Depot now offering services

Jessica Paris, jparis@gannett.com
Published 12:09 a.m. CT Oct. 31, 2017

For Loan Consultant and Union County Native Laura Bullock, life is best when you’re helping others. And that is exactly what she feels she has been called to do. Lucky for her, she’s been given the opportunity to make a career out of this calling. Bullock is now working to serve Union County and surrounding areas as a Loan Consultant with Loan Depot.
“I love to get people in their first […] Read more

Tinkering With Mortgage Qualifications – RealtyBizNews: Real Estate News

It had to happen sooner or later. The lower volume of mortgage applications is resulting in some tinkering to find more consumers that can qualify. Fannie Mae, Freddie Mac, and major lenders aren’t necessarily changing the qualification standards but they are moving some pieces of the puzzle around. For instance, around mid-year, Fannie and Freddie raised their debt-to-income ratio limit up to 50 percent from 45 percent of pretax income.

This isn’t likely to lead to a sea change in the number of mortgages being approved. When the change went into effect, Fannie said that borrowers will still need to prove […] Read more

Dubai investors focus on off-plan property market

The Dubai off-plan property market is booming. Although developers claim they have adjusted their build portfolios to meet affordability issues of low to mid-income end-users, it has been observed that investors are, in fact, lapping up a majority of these newly launched off-plan properties.

Investors who do not qualify for home loans are being encouraged by attractive price points, flexible payment plans and high yields being touted by developers.

“Even with attractive payment plans, end-users transitioning from rental to ownership most often prefer off-plan units nearing completion to avoid prolonged periods of paying both existing rents […] Read more

Dubai’s off-plan property market is on solid ground

Investors who do not qualify for home loans being encouraged by attractive price points, flexible payment plans and high yields being touted

The Dubai off-plan property market is booming. Although developers claim they have adjusted their build portfolios to meet affordability issues of low to mid-income end-users, it has been observed that investors are, in fact, lapping up a majority of these newly launched off-plan properties.

Investors who do not qualify for home loans are being encouraged by attractive price points, flexible payment plans and high yields being touted by developers.

“Even with attractive payment plans, end-users transitioning from rental […] Read more

Lenders are making it easier to qualify for a mortgage

Posted 10/28/2017

Easier mortgage qualification: how you can benefit

It’s not always easy to qualify for a mortgage. As a borrower, you have to meet a lender’s credit standards. […] Read more

For many millennials, parents are a lifeline for buying a house | Home & Living

Ready for two interesting statistics?

According to Zillow, 20 percent of homebuyers today receive a monetary gift or loan from family or friends. As well, nearly one-quarter (24 percent) of buyers combine two or more sources to finance their down payment.

Translation: Millennials often need financial assistance from their parents to buy a first home.

First, I think it’s tremendous to see so many young adults moving ahead with homeownership. It’s great for our local economy and helps to ensure that smart, motivated millennials stay here in Hampton Roads.

I also understand millennials sometimes need help from parents to make homeownership possible. From my […] Read more