Mortgage Blog

Are Banks Too Big To Fail or Too Big to Follow The Rules?

How should we feel about homeowners possibly not getting a fair shake with their lenders? I think we can all agree that it is pretty clear that underwater homeowners and those struggling to make their payments want to be treated fairly.  Here is where we are with the mortgage crisis. Attached is an example of how homeowners are being treated.  After seven years, are they really getting a fair shake?  You be the judge. The lenders must play by the rules, especially those that agreed to the recent $25 billion plus settlement with the fifty state attorney generals.  For tho...

March 5th, 2014 | Short Sales, Mortgage Loan Process, Traditional Mortgage, Are Banks Too Big To Fail or Too Big to Follow The Rules?

FINRA - Friend or Foe??

In the world of financial products, especially for seniors and retirees, a financial endorsement or cautionary note from an organizational body such as FINRA (Financial Industry Regulatory Authority) can make or break perception.  Until recently FINRA, the financial industry’s self- regulator, referred to the use of Reverse Mortgages as the “Loan of Last Resort”.  Now whether this label is just or not really doesn’t matter.  Any label of this type will cause unnecessary fear and confusion and give likely beneficiaries pause.The question then becomes is th...

February 21st, 2014 | Retirement Planning, Reverse Mortgage, HECM Reverse Mortgage, supplemental retirement income, FINRA, FINRA - Friend or Foe??

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

How to spot a Reverse Mortgage Candidate

We are all aware that the low interest rate environment has had devastating effects on seniors and retirees in general for many years. This is not something new but the recent trends, in conjunction with the devastation many retirees experienced with their investments, have compounded the problem. Seniors and retirees have not only been at a disadvantage supplementing income, they have also experienced loss of principle with no economical means of recovery. The story link below is an example of a typical senior that always put his family first only to find himself in an end of life financia...

December 2nd, 2013 | lifetime income with a Reverse, Retirement Planning, Reverse Mortgage, supplemental retirement income, How to spot a Reverse Mortgage Candidate

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

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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, DC & Pennsylvania. 


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.