Mortgage Blog

Rentership Defined!

It would appear that we may have a new word candidate for the mighty review board at Webster's.  Rentership is a new phenomenon that is pervasive throughout our real estate economy.  It is hidden below the radar and often not breached in conversation due to its unpopular appeal. Regardless, Rentership defines the thousands of homeowners that are stranded in properties where the mortgages owed, plus the costs to sell, exceed the value of the home.  These owners are defined as renters with full ownership responsibilities.  When the roof needs replacing, or the appliances ...

December 12th, 2014 | solutions for underwater properties, Traditional Mortgage, Rentership, Real Estate Economy, Rentership Defined!

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!

Where Does One Turn First Absent the Mortgage Debt Relief Act?

Many are beside themselves while others have expressed a sense of panic to me regarding the expiration of the Mortgage Debt Relief Act and their decision to do a short sale.  The law, or otherwise termed grossly generous entitlement, is over.  I do not expect a retroactive continuation but who knows, anything is possible.  The question is “What do you do now?”. Taking no action just because the environment has changed may not be a good strategy. The answer in short is don’t panic.  The first place you should turn to is “Insolvency”. There is...

February 12th, 2014 | Short Sales, forgiven mortgage debt, solutions for underwater properties, mortgage debt relief act, mortgage debt forgiveness act, Where Does One Turn First Absent the Mortgage Debt Relief Act?

The Mortgage Debt Relief Act Evaporates

At the stroke of midnight on 12-31-13, as we celebrated the New Year and listened to the historic hymn of Ole Lang Zine, the US Treasury vault door slammed shut. For those that could hear beneath the noise and celebration, the echo of “No more free money!” was heard.What does this mean for the continuation of Short Sales as a viable form of relief for underwater home owners? Is the game over or is this still an option?Short Sales for underwater properties are still going to be a prevalent means of establishing a permanent solution for these properties. However, in or...

January 15th, 2014 | Short Sales, solutions for underwater properties, mortgage debt forgiveness act, mortgage debt relief act, Debt Mitigation, The Mortgage Debt Relief Act Evaporates

The Importance of a Successful Short Sale or Mitigation Effort

Many people I have spoken with, simply do not fully comprehend the ramifications of foreclosure and the potential personal liability they may face regarding the mortgage note. When you get a mortgage there is a deed of trust that allows the lender certain rights to cease the property through the state mandated process of foreclosure and there is a mortgage note. The mortgage note carries personal liability and allows the lender to pursue the individual. Many people take the position that it is not their problem and that the lenders have their hands tied due to the sympathetic he...

November 15th, 2013 | Short Sales, solutions for underwater properties, forgiven mortgage debt, Debt Mitigation, The Importance of a Successful Short Sale or Mitigation Effort

A Reverse Mortgage is Not a Construction or Property Rehab Loan

There appears to be a misconception in the market among some that a Reverse Mortgage can be used to solve any and all property and borrower ailments. This is categorically incorrect. A Reverse Mortgage is designed for a primary residence only and does not extend to second homes or investment property. A Reverse will allow up to ten percent (10) of the appraised value of the property for set asides to cover standard property repairs that may exist. Repairs eligible under this category do not include health, safety, and/or zoning issues. When a property reaches this state or re...

September 25th, 2013 | Reverse Mortgage, HECM Reverse Mortgage, solutions for underwater properties, FHA, Construction Loan, Hard Money Loan, Government insured mortgage, A Reverse Mortgage is Not a Construction or Property Rehab Loan

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Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
FAX: 703-773-6946
NMLS: 935554

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


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