Mortgage Blog

QM versus Non QM...What is its significance for you?

A Qualified Mortgage (QM) represents a definitive set of qualifying criteria as defined by the government under Federal Dodd Frank regulations.  You can think of this as a prism, more or less, with the perfect loans by definition falling inside the protective prism and all of the other loans falling outside into the Non QM or Non-Qualified Mortgage bucket. The difference between QM and Non QM to you could be something as subtle as a slightly higher debt to income ratio or slightly lower credit score or profile.  A QM loan may have the most attractive rate and cost profile for yo...

April 5th, 2018 | Non QM, Mortgage Loan Process, Specialized Forward Mortgages, QM, foreclosure, Short Sales, QM versus Non QM...What is its significance for you?

Do you need a shot of Non QM to get you over a Housing Crisis Hangover?

Maybe this is just what the doctor ordered.  Remnants from the crisis, such as a Short Sale, Foreclosure, or even possibly a bankruptcy, could still be holding you back.  Quality Mortgages (QM) defined is that square box of perfection that you must fit in to get many mortgages today.  Many significant credit events under QM loans require up to seven years to be eligible.  However, the market is now calling out to you.  It’s ever changing and adapting to the presence of need.  A newer category called Non QM is evolving to meet the needs of people for loans th...

February 20th, 2018 | Non QM, Specialized Forward Mortgages, foreclosure, Short Sales, bankruptcy, QM, Do you need a shot of Non QM to get you over a Housing Crisis Hangover?

The real story on Trump's Treasury pick and reverse mortgages

Terrific article that puts the terminology surrounding reverse mortgages in better context and explains it so normal people can understand. As the article denotes, with a Reverse Mortgage, foreclosure is not necessarily a bad thing.  Foreclosure is nothing more than the legal mechanism that follows state protocol that allows the lender to take control of the property and initiate recovery of their security interest.  With a reverse mortgage it is not uncommon for the property to be under water after expected selling expenses.  It is also not uncommon for the family not to w...

January 20th, 2017 | Reverse Mortgage, Traditional Mortgage, foreclosure, Trump, Treasury, The real story on Trump's Treasury pick and reverse mortgages

Home Equity at Risk!

During the brunt of the recent mortgage crisis, when lenders nationwide faced unprecedented levels of mortgage loan delinquency in short periods of time, it was common to see delinquent mortgages sit with no adverse lender action.  The lenders did not have the time to focus on accelerating these loans and often let them sit with the equity cushion to protect their interest.Today, however, the lending environment has changed again.  No longer will a lender allow a loan to pass the 120 day default mark and do nothing.  Lenders are aggressively accelerating these loans and pushing ...

November 11th, 2014 | Short Sales, solutions for underwater properties, HECM Reverse Mortgage, foreclosure, forgiven mortgage debt, Home Equity at Risk!

An Innovative Means of Curing Mortgage Delinquency

For the past several years, all the talk has been about avoiding foreclosure with loan modifications and short sales for underwater properties with distressed financial situations. One area that has been over looked or maybe just absent from the headlines has been delinquent homeowners with home equity. Many of these homeowners are delinquent on their mortgages for the same reasons as underwater borrowers. They have lost their jobs or suffered some kind of financial set back that has forced them into delinquency. Unfortunately, for those with home equity, the lender has no skin in...

September 10th, 2013 | Loan modification, HECM Reverse Mortgage, Short Sales, Reverse Mortgage, modify your loan with your lender, home equity access, foreclosure, An Innovative Means of Curing Mortgage Delinquency

An Illustration of The Risk of Improper Short Sale & Foreclosure Mitigation

  This article was published in The Washington Post on June 15th, 2013. In the event you missed it, I think it is a terrific example of what can happen without proper mitigation. This is exactly what you want to avoid. This applies to Short Sales and Foreclosures and the article provides examples of each.   Lenders seek court actions against homeowners years after foreclosure     Blogging from the front line of the housing crisis.   George Omilan     Please comment and share this blog if you like it.

June 19th, 2013 | forgiven mortgage debt, Short Sales, mortgage debt forgiveness act, Debt Mitigation, foreclosure, An Illustration of The Risk of Improper Short Sale & Foreclosure Mitigation

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Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
703-319-2198
FAX: 703-773-6946
info@jeffersonmortgage.com
NMLS: 935554

Located in Fairfax County, Virginia. Serving all of Virginia, Maryland, DC & Pennsylvania. 

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Jefferson Mortgage Group LLC is licensed in Virginia, Maryland, DC & Pennslvania.
Virginia State Corporation Commission License Number MC-5659 and the Pennsylvania Department of Banking & Securities #46259 
The DC Department of Insurance, Securities, and Banking License #MLB935554
Maryland DLLR License #21586

An Equal Housing Lender

By refinancing the consumer's existing loan, the consumer's total finance charges may be higher over the life of the loan.

This material is not from HUD or FHA and has not been approved by HUD or any government agency.