Category: COVID 19

MORTGAGE AND HOUSING ASSISTANCE

Are you having trouble making mortgage payments due to the loss of income as a result of the pandemic? Here is the straight scoop from the CFPB regarding your options and forbearance.         If you have any questions about your mortgage, give us a call and we can help.     We offer a variety of products and services, ask us how we can assist you today: Counsel Mortgage Group®, LLC 480-502-1000 www.counselmortgage.com NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 Copyright © 2021 Counsel Mortgage Group®, LLC.

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APPLYING FOR A COMMERCIAL LOAN IN THE COVID ENVIRONMENT

  Lenders have raised the bar on underwriting guidelines in recent years, and more specifically in the COVID era. Back in the good ‘ole days, prior to the Great Recession and now COVID, lenders did what might be now described as a cursory job of underwriting the borrower. They typically asked for a simple financial statement, personal & business, with a credit check, and that was the extent of the credit items required. Back then, they focused almost exclusively on the pros and cons of the property. And if they liked the risks associated with the property, it was very...

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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...

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