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The Best Mortgage Blogs From 2017 | Advice For Home Financing

Rochester Real Estate

However, fees for the loans can be higher than a bank and it’s likely that your loan will be sold on the secondary market after closing. Did you know if you file a Chapter 13 bankruptcy, you can immediately apply for an FHA loan? If you have filed a Chapter 7 bankruptcy, the wait is only 2 years.

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Student loan payments are back. It’s a problem for the mortgage market

Housing Wire

King says he worries that borrowers could spiral into debt, which could result in bankruptcy. Borrowers who havent been making payments face a rude awakening as their budgets are expected to become more constricted. The appetite for new mortgages is going to go down for a decent chunk of consumers.

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UWM is bullish on the resurgent private-label market

Housing Wire

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 to 72% across the three deals in a market with fast-rising home prices.

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Buying a House While in Chapter 13 Bankruptcy

Realty Biz

One of the frequently asked questions during today’s booming housing market is can I qualify for a mortgage during Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is a court-approved debt repayment plan where their debts are restructured over a period of three to five years. Trustee approval is required.

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Non-QM lenders are back. But will brokers pick up the phone?

Housing Wire

His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. Over the last several months, liquidity has poured back into the non-QM market, prompting roughly a half-dozen lenders to once again underwrite non-QM loans. “Pre-COVID, The origination credit quality was very good.

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Get Ready Financially to Buy a Home With These Tips

Realty Biz

Credit reports contain a comprehensive history of your financial activities, including your credit accounts, payment history, outstanding debts, and any negative information such as late payments or bankruptcies. Reduce Debt: Prioritizing debt reduction is crucial for improving your financial profile.

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3 Alternative Home Loan Options for People with Bad Credit

Rent, Buy & Sell

Bad credit is usually the result of late bill payments, bankruptcy, foreclosure and loan defaults. Borrowers must be able to show proof of employment and a steady income. FHA loans can also be obtained by people who have a bankruptcy or foreclosure on their record. Lenders will require a minimum FICO score of 580.