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Apply for a good loan and fast

Posted on: 22nd Sep, 2018 01:10 pm
I'm still so surprised, i can't believe this, i just got a loan of $40,000 from Mr.jefferson and nothing like upfront fee, is as if i'm dreaming, but no its reality, i'm so happy right now, and not only that i just got engaged on Wednesday, I'm full of happiness now, you can contact him now elijahcapitals@gmail.com

Mortgage Process

Posted on: 25th Apr, 2014 05:09 pm
I'm about to complete a mortgage application. It's taken 2 months to process and I've had to produce so much information. The only thing I wasn't asked was to take a colonoscopy!
The last time I applied for a mortgage was 5 years ago and it was never this complicated or intrusive.

Q. Has the mortgage application process really become so complicated or was my broker screwing with me? I ask because I have a 5:1 equity to mortgage ratio! But it was starting to feel as though I had asked for a $trillion!!
The whole process has tightened up and underwriters are ore cautious than ever - it isnt your broker.........

Brian Barnes
ENG Lending
50 States Lender
Posted on: 29th Apr, 2014 08:09 am

Chattel Mortgage

Posted on: 22nd Apr, 2014 04:17 am
What Is a Chattel Mortgage?
It is known as a secured transaction where the loan is given against some sort of movable property like car, boat etc as security instead of fixed assets like land , building or furniture etc. Mostly chattel mortgage is used for mobile homes
Posted on: 23rd Apr, 2014 04:16 am
Chattel basically means private property - it is not real estate/land

Let us know if there is anything else we can help with
Brian Barnes
ENG Lending
Nationwide Lender
Posted on: 23rd Apr, 2014 08:13 am

FHA 203K

Posted on: 04th Apr, 2014 04:14 am
Can I get a HUD home using the FHA 203k loan?
Yes provided it appraises high enough
The one big downside to hud homes is that the owner (fannie or freddie) sets the rice and doesnt require an appraisal - this is because many are over priced - they expect you to use their programs and get by without an appraisal - the 203k requires an appraisal based on an after completion of rehab value.
If that value suports the cost of the home plus the cost to rehab you should be fine.
203k is a great product

Brian Barnes
ENG Lending
Nationwide Lender
contact info below
Posted on: 07th Apr, 2014 08:30 am

Reverse mortgage

Posted on: 19th Mar, 2014 07:28 am
Is there any tax implication I'll have to manage if I opt for a reverse mortgage?
Most of the folks here are mortgage pros - that said keep that in mind when I comment in an area outside my expertise - I am not sure how the reverse changes things - I am guessing that you will no longer have the interest deduction which could cause you to have less to write off and possibly cost you money at the end of the year - however if you are in a low bracket because you are on a retirement plan it may not be so bad -I would consult a CPA and ask them how it will work for and against you. Obviously the benefit is you eliminate a housing payment - if you need any help with the numbers let us know

Brian Barnes
ENG lending
Nationwide Lender
Posted on: 20th Mar, 2014 09:38 am

Balloon mortgage Loan or Adjustable Rate Mortgage

Posted on: 17th Mar, 2014 06:55 am
I would like to buy a vacation house this year, but can't understand which type of mortgage loan will be suitable for me...how about balloon mortgage loan or ARM? is there any other better option?
I would avoid any loan with a Balloon - and truthfully as low as rates are now I would get a fixed rate loan - the adjustables are attractive until rates climb - What is your position and why are you considering those two options?

Brian Barnes
ENG Lending
Nationwide lender
Posted on: 18th Mar, 2014 11:31 am

buying a foreclosed home

Posted on: 05th Mar, 2014 02:05 am
I have heard that foreclosed homes are much cheaper than new homes while buying.. is it true?? If I intend to buy a foreclosed home for personal living, what are the factors I'll have to check before purchasing that house?
Bank foreclosures are sold at auction to the highest cash bidder this usually leaves most people out of the chance - however if no one buys at the minimum set by the bank the home becomes bank owned - often referred to as REO - these homes can come at a discount - but you should do your due diligence before eentering into a contract - the homes sometimes are in the condition they were when the previous owners vacate - other times work is done but sometimes work is dont to hide issues - I have seen all of these scenarios play out... You should go into any home and if you have questions ask or get an inspector to check it out - money spent now could save you thousands later
Good Luck let us know if you need help
Brian Barnes
ENG Lending
Nationwide Lender
Posted on: 05th Mar, 2014 09:42 am

loan modification details

Posted on: 28th Feb, 2014 03:09 am
What are the nesecessary documents I'll have to provide while opting for a loan modification program?
They want everything when it comes to your financials - paystubs tax returns etc - they need to see a reason why you can no longer pay the payment you initially agreed to - it is a pretty major ordeal and drags on forever -have you considered the option of a HARP refinance? I had some rentals I wanted to modify as prices had dropped etc - I was denied the modification but was able to refi through HARP and got an even better payment than the mod would have provided

Brian Barnes
ENG Lending
Nationwide Lender
Posted on: 28th Feb, 2014 09:11 am
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