Federal rules from Dodd Frank have made it much tougher for borrowers outside the traditional channels, such as Fannie Mae, Freddie Mac, and the government loan programs, to qualify for mortgages. There are some interesting products for the self-employed
May 02, 2019 | Traditional Mortgage Specialized Forward Mortgages Non QM mortgage Asset Qualifer Asset Based Mortgage
It is true that the Self Employed borrower normally hits a wall when it comes to qualifying for a mortgage when asked for their Federal tax returns. The process by which your accountant works their magic is the often the exact opposite of what the lenders
Apr 19, 2018 | Traditional Mortgage Mortgage Loan Process Age in Place Specialized Forward Mortgages self-employed borrower bank statement loan cashflow Business Cash-flow
Is mortgage debt eliminated when you get a Reverse Mortgage? Some would venture to say the debt is eliminated, however, this is misleading and causes significant confusion and lack of understanding with the program. This concept appears too good to
Jun 07, 2017 | Traditional Mortgage HECM Reverse Mortgage mortgage debt
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 n
Jan 20, 2017 | Reverse Mortgage Traditional Mortgage foreclosure Trump Treasury
A parachute from high altitude is always a lifeline. When a retiree or a senior, whether still working or not, gets into potential trouble with a forward mortgage payment becoming unaffordable, a HECM Reverse Mortgage can serve as a financial lifeli
Jun 02, 2015 | Retirement Planning Traditional Mortgage supplemental retirement income HECM Reverse Mortgage Mortgage Deliquency
Nice article comparing wealth and consumption effects of a HECM Reverse Mortgage. I would like to add a few things. First, the money is essentially the same. You either pay the mortgage payment or have your home equity make the payment.
Jan 05, 2015 | Reverse Mortgage Retirement Planning Traditional Mortgage supplemental retirement income HECM Reverse Mortgage