The links here serve two purposes.
My primary goal for this is blog is to provide you with the most up-to-date information as you search for a new home Loan. See all of those links? I read the articles, charts, and graphs on each one of those sites every single day so that you will find the information on this blog as useful as possible (how many volumes of books would it take to hold all that available information?). You need to know the best information to feel comfortable that you’ve made the best choice. However, you don’t need to be a mortgage expert. That’s why I’m here. It’s my job to study the information that’s available, and synthesize it so that you can know it quickly and easily. Then you’ll be armed with all of the knowledge you need.
My second goal is to find those of you who are currently under-served by mortgage bankers and brokers. As you’re well aware, bankers and brokers are fiercely clamoring to work for Borrowers with near-perfect Credit. They want those men and women with above-700 credit scores, with almost no debt, borrowing 80% or less to buy or refinance single-family homes. They may be the ones not returning your calls after you fax them your information. Maybe your file has been denied because they failed to know the rules pertinent to your imperfect financial situation, and didn’t properly present you to the underwriter. Maybe you’re among the many who’ve spent months trying to refinance – while your loan officer tells you everything is okay, yet asks for the same information you’ve already sent. Maybe you’re in the middle of a purchase or refinance that has already taken far too long to close.
The near-perfect borrowers are the easy ones. They’re Textbook Transactions that a loan officer can do in his or her first or second week on the job once he or she learns the gist a few basic loan programs. How large a swath of the American population fits those standards? From my experience, not many.
That’s why I choose to serve the under-served borrowers who still qualify for a great mortgage. In today’s market, many borrowers with less-than-excellent credit due to bankruptcy or other Credit Issues are left out. Did you know that the Federal Housing Administration (FHA) offers mortgage loans for you even if you’ve got a bankruptcy or other negative credit issues in your past? They do. Admittedly, they take more work to complete, and that’s why everyone wants to work the textbook transactions I described earlier. But I know what it takes to close a difficult loan. Often, such loans aren’t even as difficult as they’d seem to be, because I am prepared to present them the right way, so that an underwriter will approve them. To do that takes knowing FHA guidelines thoroughly, being able to see a loan file through the eyes of the underwriter, and preparing the file as completely as possible, much like a lawyer prepares a client’s case before a judge. That’s what I do. I’d like to do that for you.
If your credit is imperfect due to a past bankruptcy, foreclosure, or other credit issue, you may still qualify for an FHA loan.
This post first appeared on Bankruptcy. Foreclosure. FHA. | Offering Empower, please read the originial post: here
