Divorce and Housing

frustration over jumbo loans

Banks Tighten Their Belts on Loan Approvals. What Does This Mean For Jumbo Loans?

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 …

Banks Tighten Their Belts on Loan Approvals. What Does This Mean For Jumbo Loans? Read More »

home prices dropping

Home Prices Are Dropping. What Should You Do?

May’s Home Price Index and Home Price Forecast is not great, but could be worse. CoreLogic is a company that provides information to help clients make smart and educated decisions. In a CoreLogic report, home prices are expected to decrease by 6.6% by May of 2021.  In their press release, CoreLogic said, “The anticipated impacts …

Home Prices Are Dropping. What Should You Do? Read More »

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 …

Fannie Mae and Freddie Mac Opens New Opportunities for Homeowners Read More »

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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loan forbearance

What’s Next: Loan Forbearance Options Become 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. Update from Fannie …

What’s Next: Loan Forbearance Options Become Clearer Read More »

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 …

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

bank loan requirements

What To Do When Bank Loan Requirements Are Tougher

their When you get a loan to buy or refinance a home, the approval process can sometimes seem confusing.  It might shock you to learn that the bank requirements for a loan is a process that overlays your financial situation.  The guidelines, however, are not static.  Institutions alter their guidelines to account for their risk …

What To Do When Bank Loan Requirements Are Tougher Read More »

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