Earlier in this message we highlighted the SBA promotion (enhancements) of the 7(a) program as a tool to help small businesses during the COVID-driven economic decline. Many of the relief provisions under the CARES ACT elevate the SBA 504 program also, including fee reductions and an extension of payment subsidies for new 504 loans. In...
Author: john (John Rapasky)
Post
NOW IS THE TIME TO LOCK IN AN INTEREST RATE
When is the best time to lock an interest rate? I get asked this question often as everyone wants the lowest rate. Interest rates, like stocks, change daily; it is hard to predict whether the rate will go up or down. It is best to see what your payment is at the current rate, and...
Post
THE RUN-UP IN MORTGAGE RATES
The recent rate increases have stalled the demand for mortgage refinancing. Applications fell 5% last week according to the Mortgage Bankers Association’s seasonally adjusted index. How does this affect homeowners considering refinancing their mortgage loans?
Post
REVERSE OR FORWARD MORTGAGE?
What is the difference between forward and reverse mortgage? Reverse mortgage, money is borrowed, the loan is secured by your home, but you don’t have to pay it back with money out of your pocket. The loan is paid by the equity in your home; the mortgage balance increases over time. One way to understand...
Post
MORTGAGE DELINQUENCY
Mortgage delinquency is typically a good marker for revealing economic distress. If you’re in the market to buy or sell a home, or make an investment, knowing the mortgage delinquency rate is important. The Consumer Financial Protection Bureau has data, and graphs showing where the market was in 2008 compared to today. https://www.consumerfinance.gov/…/mortgages-90-or-more…/ Contact Counsel...
Post
HISTORIC LOWS
You may have heard that rates have increased slightly. Nonetheless the rates are still historically low. It is still a good time to buy, or refinance. You can check rates daily. Contact Counsel Mortgage Group. We offer a variety of products and services, ask us how we can assist you today. Counsel Mortgage Group®, LLC...
Post
DEFINE FORBEARANCE
Due to the pandemic, many homeowners are struggling with making their mortgage payments. Forbearance may be an option for them. What is forbearance? Here is an article that gives you what you need to know regarding forbearance: We offer a variety of products and services, ask us how we can assist you today: Counsel...
Post
LOANS FOR INVESTMENT PROPERTIES
Are you interested in investment properties but do not have the capital to invest? Do you wonder how much money is needed? What if you cannot qualify? There are a few steps to take to get started. To see what the requirements are for investment property loans, We are a mortgage brokerage. Our skilled originators...
Post
PROFESSIONALISM, QUALITY, RESPONSIVENESS
It is our mission at Counsel Mortgage Group to provide you with nothing less than excellence. We would like to thank Heath Harris for leaving us a review. “John was amazing! He was with me every step of the way as I bought my first home. He was prompt and friendly and...