Tag: <span>Investments</span>

Post

TWO APPROVALS, PLUS COLLATERAL

Two approvals take place when you apply for a loan.  Lenders review both your credit and income, and the collateral. The collateral must be sufficient for the loan to be approved.  What if the collateral is a condominium? When the collateral is a condominium, there is increased scrutiny by the lender. This is due to...

Post

DETERMINING YOUR CREDIT SCORE

Credit cards are a significant factor in determining your credit score. Credit bureaus look at your credit card balances and history to determine how you manage your discretionary spending. The credit bureaus do not know your spending habits, but by reviewing credit card balances, they make conclusions regarding your ability to manage credit which will...

Post

PRIVATE MORTGAGE INSURANCE, WHEN CAN I GET OUT?

A common question for those who have private mortgage insurance (“PMI”) is when can I stop paying it? When can I get out? If you recently obtained a FHA loan, unfortunately, you cannot get out of mortgage insurance as it stays with the loan for the life of the loan. However, if you have a conventional...

Post

CLOSING PROCESS

What is involved in the process? The closer you work with your loan originator, the quicker the loan will move through the process. Step One: Complete the loan application; Lenders require a fully completed application.This includes providing a 2 year residential and employment history. Lenders will email the Loan Estimate to you within 3 days...

Post

LOAN PROGRAMS AND DISTRESSED PROPERTIES

Did you know that if a home has water spots on ceiling tiles, broken windows, is missing a stove, or missing cabinets or countertops, the lender may not lend on the property? There are many properties that are very well priced, but they are in disrepair or missing pertinent household items. If this is the...

Post

IS REVERSE MORTGAGE RIGHT FOR YOU?

One way to understand what reverse mortgage is, is to understand forward mortgage. A forward mortgage is the mortgage you know, you borrow money, the loan is secured by your home and you pay it back. For the reverse mortgage, you also borrow money, the loan is secured by your home, but you don’t have...

Post

DOWN PAYMENT ASSISTANCE PROGRAMS

Let’s take a look at down payment assistance; there are programs that will actually make the down payment for you: There are different types of programs. Some which you will have to apply for separately and others that are part of the loan process. However, like anything else, these programs are not free. Although you...

Post

COMMERCIAL REAL ESTATE AS AN INVESTMENT

Wait a minute … shouldn’t this be written by a commercial real estate broker? Good question – read on. Money is mobile. It moves among markets, countries (currencies), and asset classes in order for the investor to optimize his (or her) risk/reward. This is notable and timely today given the recent activity in the stock...

Post

10 Year Anniversary

PRESS RELEASE: Counsel Mortgage Group®, LLC, is proud to announce its 10 year anniversary as both a residential and commercial brokerage. Counsel Mortgage opened its doors during the depths of the mortgage crisis of 2007 in an effort to offer professional services at competitive rates and costs to meet the needs of homeowners facing the...