Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC. For those of you old enough to remember, that line is from the classic comedy dialog between Bud Abbot and Lou Costello first released in 1945. (This is available on You Tube. A link is offered for your entertainment … a 6:18 minute escape from the trials of the day … enjoy. https://www.youtube.com/watch?v=sShMA85pv8M If the link doesn’t take you to the program, cut-n-paste it in your browser.) The dialog also, however, illustrates the difficulty in communication and the confusion it can create. Consider our current...
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COUNSEL MORTGAGE GROUP
June 3, 2020June 3, 2020
WE HAVE EXCITING NEWS!
We are excited to announce we’ll be unveiling our new website. You will see our website serves as an interactive exchange of information regarding mortgage lending in Arizona and California. We realize that, on average, you look for a mortgage once every several years and do not stay on top of the mortgage market. This website provides you many opportunities to get up-to-date on mortgage lending. From the e-mail news service, to the blog and videos where information is shared, Counsel Mortgage strives to keep you informed. We believe that an informed customer is a satisfied customer. We’ll be launching...
May 29, 2020November 22, 2020
CAN I REFINANCE IF MY LOAN IS IN FORBEARANCE
Can I refinance if my loan is in forbearance? Yes, you can refinance if your loan is in forbearance. You will have to bring your loan current to refinance. The lender will not refinance if you are behind on your mortgage payments. If you are looking to refinance, contact Counsel Mortgage Group and we can help you! We offer a variety of products and services, ask us how we can assist you today: Counsel Mortgage Group®, LLC www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 Copyright © 2020 Counsel Mortgage Group®, LLC. Check Us Out On Facebook https://www.facebook.com/counselmortgagegroupllc/
May 27, 2020July 24, 2020
MAKE YOUR MORTGAGE PAYMENT, IF YOU CAN Pt. II
Make your mortgage payment, if you can… We recently posted about mortgage payment forbearance and why it’s best to continue making payments if you can. There may be consequences; mortgage lates. “Mortgage Hangover” is another reason why you should make your mortgage payment. See this article posted on Bloomberg.com. Fannie-Freddie Forbearance Rule Sows Fears of Mortgage Hangover https://www.bloomberg.com/…/fannie-freddie-forbearance-rule… If you have any questions about this, or anything else mortgage related, contact Counsel Mortgage Group. We offer a variety of products and services, ask us how we can assist you today: Counsel Mortgage Group®, LLC www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580...
May 16, 2020June 1, 2020
WHAT IF YOU DISAGREE WITH YOUR HOME APPRAISAL
What if you disagree with your home appraisal? Do you have to accept the appraiser’s findings without questioning them? You can question the appraisal; you can appeal the appraisal. The appeal process goes through the appraisal management company. You have to provide data in order to appeal. For example, if there are comparable sales (“comps”) that were not in the appraisal report, you can submit them for review. Remember, the appraiser will only consider comps up to the date of the appraisal. If they closed after the date of the report, they will not be considered. You can also question...
May 8, 2020May 8, 2020
WHAT IF YOU DISAGREE WITH YOUR HOME APPRAISAL
What if you disagree with your home appraisal? Do you have to accept the appraiser’s findings without questioning them? You can question the appraisal; you can appeal the appraisal. The appeal process goes through the appraisal management company. You have to provide data in order to appeal. For example, if there are comparable sales (“comps”) that were not in the appraisal report, you can submit them for review. Remember, the appraiser will only consider comps up to the date of the appraisal. If they closed after the date of the report, they will not be considered. You can also question...
May 7, 2020May 20, 2020
CAN YOU GET A MORTGAGE DURING COVID-19? YES
Can you get a mortgage in the midst of a pandemic? I have had customers ask me whether lenders are lending during Covid-19. The answer is yes. As a result of Covid-19, there was volatility in the market. You may have seen this first hand where the Dow decreased by 10,000 points in 3 weeks. This kind of volatility also hit the mortgage markets. Rates were at new lows prior to the pandemic and came off once it hit. But, as you have also recently seen, the stock markets have recovered a bit and are not experiencing such...
May 4, 2020May 4, 2020
VA INTEREST RATE REDUCTION REFINANCE LOAN
We thank our veterans for their service and we are proud to have veteran employees. Our veteran employees specialize in assisting fellow service men and women, and we have closed many VA loans. Unfortunately, once a VA loan closes, veterans are deluged with solicitations from many lenders to refinance. Some of our clients have called and questioned why they are being solicited so heavily. It is because many lenders know the VA Interest Rate Reduction Refinance Loan (known in the lending world as the IRRRL) requires little effort for them to process and close. Be careful and make sure the...
May 1, 2020May 1, 2020
STAY AT-HOME ORDERS AND MORTGAGE LOAN CLOSING DOCUMENT SIGNING
Are you about to close on a mortgage loan but you’re under a stay at-home order? Are you wondering how you’ll sign closing documents? Do you have to be at the title/escrow company to sign the loan documents at closing? No, you do not. Many title and escrow companies provide notaries which will allow you to sign the loan documents at your office, your home, on vacation, or even in a foreign country. If you are signing in a foreign country, you will likely have to go to the U.S. Consulate to sign loan documents in front of an authorized...
April 30, 2020April 30, 2020