Divorce and Housing

Getting Jumbo and Non-Standard Loans Just Got a Bit Tougher.

Wells Fargo just announced an increase in the required banking and/or investment relationship for jumbo loans from $250,000 to $1,000,000.  Additionally they increased the restrictiveness of some of the loan approval guidelines.  Back in April, Chase made similar moves to their lending rules and requirements.  This trend is not limited to the big banks and …

Getting Jumbo and Non-Standard Loans Just Got a Bit Tougher. Read More »

Planning for the Rocky Real Estate Market Ahead

Corelogic just released their Home Price Index and Home Price Forecast for May and the news is not great.  I say not great because it could have definitely been worse, but they are forecasting a 6.6% decrease in home prices by May of 2021.  In their press release, Corelogic said that “the anticipated impacts of …

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Fannie Mae and Freddie Mac Loan

Fannie Mae and Freddie Mac Opens New Opportunities for Homeowners

There is good news on the lending front.  The Federal Housing Finance Agency (FHFA), the government agency that oversees Fannie Mae and Freddie Mac, has announced that the “waiting period” for a Fannie Mae and Freddie Mac post-forbearance loan is dropping from 12 months to 3 months.  This is huge for anyone who entered into …

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The Fed and Mortgage Rates – The Big, Undying and Hugely Frustrating Myth

So it is Federal Reserve Meeting time, and with it has come the inevitable questions about mortgage rates.  My phone and in-box fill up with clients asking how the Fed’s decisions will impact their rate and prospective clients reaching out to see if that refinance now makes sense.  As a business person, it is a …

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loan forbearance

Forbearance on Mortgage in COVID-19 Can Impact Future Loans

Here is another quick update from the COVID-19 mortgage front.  As of today, I can verify that many institutions have to take forbearance on their mortgage into account for current and future applications. Forbearance is an agreement between a lender and a borrower to temporarily suspend debt payments. Without getting into too much detail, if …

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What’s Next: Post-Forbearance Options Become a Little Clearer

What next?  This question is what a lot of people impacted by COVID-19 are asking themselves, especially when it comes to their mortgage loans.   Although still not completely clear, we are getting more and more information every day.    Based on the information released this week, there is some good news and bad. First the good …

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Tightening Guidelines and Great Rates – The SplitReady Divorce Mortgage Pro Market Update for April 2020

The Spring season is beginning, and loan applications are still cranking along.  That said, the lending environment is radically different from what we have seen in a long time, if ever.  I have a lot of clients that were waiting for this time of year to sell their properties, as well as many waiting for …

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Financing Your Home Will Be Tougher For The Time Being

DOUGLAS KATZ – April 13, 2020 When you get a loan to buy or refinance a home, the approval process can sometimes seem confusing and a bit arcane.  It might shock you to learn that the process is really just the overlaying your financial situation on a set of guidelines and requirements.  The guidelines, however, …

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