Refinancing is highly desired right now and we have helped many homeowners refinance their loans. Frequently delaying the process is postponed mortgage payments due to forbearance. Is it possible to refinance a loan in forbearance? Yes, you can refinance if your loan is in forbearance. You will have to bring your loan current to refinance....
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QUESTIONS ABOUT REFINANCING?
Do you have questions about refinancing? We provide counsel to help you find the right mortgage. We’ve helped many clients refinance their loan. We are a mortgage broker, and search wholesale lenders to find the best rate and costs. We broker in both Arizona and California. Contact us, we can help! We offer a variety...
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HALF-YEAR REPORT – MONEY IS CHEAP
This has been an unprecedented first half of the year. An international pandemic, high unemployment, closing of businesses, and a Fed Funds rate near zero. Notwithstanding these global and economic calamities, loans are being made. Rates are the lowest they’ve been and money is cheap. It is a great time to buy and borrow. Programs...
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NOT A SURPRISE, BUT WHAT TO DO?
Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC. The repeat CRE sales of $39.1 billion for the first 5 months of 2020 fell 24.2% from the same time a year earlier, according to the latest monthly CoStar Commercial Repeat Sale Indices. This is the first look at the...
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THE LOAN ESTIMATE
The Loan Estimate (“LE”) is a document provided to you by the lender within 3 days of the application date. The application date is the date when the following have been provided to the lender:
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CD QUESTIONS? CONTACT COUNSEL MORTGAGE GROUP
Do you have questions about Closing Disclosure (“CD”)? The CD is the latest version of the costs and prepaid expenses on the loan. The CD contains the loan amount, interest rate, monthly payment, and amount due at closing. The numbers on the CD are intended to be the final figures for closing. The CD must...
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MY LOAN IS IN FORBEARANCE, CAN I REFINANCE TO GET A LOWER RATE?
In order to refinance, you will have to bring your loan current. We recently had a client who chose the government’s option to forebear his mortgage payments. He did not pay his mortgage for a couple months. When he contacted us to refinance, the lender would not approve the loan until he brought his...
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SELF-EMPLOYED AND TRYING TO GET A MORTGAGE?
Are you self-employed and write off your expenses so you don’t show any income to avoid paying Uncle Sam? Are you having trouble getting a mortgage? Well, we have some programs that can help. We can use your bank statements to show your receipt of revenue over the last 12-24 months. The lender will take...
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CONDOMINIUM ASSOCIATION APPROVAL AND LENDING
A majority of home buyers are not aware of the fact that when you apply for a loan there are actually 2 approvals that take place. What does that mean exactly? Well, the lender reviews the file based on a few things: your credit and income, and the collateral; the collateral must be sufficient in...
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HOW SHOULD CRE INVESTORS PREPARE FOR THE NEXT DOWNTURN
Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC. A recession is unlikely to hit this year, but that doesn’t mean that you shouldn’t start preparing. Experts say that this is the perfect time for investors to reevaluate portfolio performance to prepare for the next downturn—whenever it...