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A reduced documentation loan is just the same as a no income verification loan, but different.
With a no income (stated) verification loan, you put in the employment information and
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The Robyn Report
The Robyn Report is a mash up of articles, reviews and interviews about all things real estate. We have tons of guidelines and tips about the new rules for mortgages and how to buy or sell a house. With all the new technology out there, you need to be updated on the latest apps, websites, programs and software to make home buying easier. We continue to search the universe to find the latest and greatest geek stuff out there! And of course, we write the books, hence we think all consumers should read the books, so we often have book reviews and interviews with the authors. Knowledge is power. Use it!
What Is the Credit Crunch and How Does it Change Interest Rates?
I hate this question, because I feel that I am personally responsible. Why are mortgage rates getting higher instead of the much needed lower?Â
Let me use words that we made up recently
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How are interest rates weathering the storms this week?
They are sort of flat.Â
Today there were rate changes twice at some of the large lenders. People think rates are still below 6%, but they have been creeping up little by little.Â
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Big Coop Loans Get Snubbed By the Banks
So, I got all excited when they announced that coop loans will be included as jumbo conforming loans up to amounts of 729,000. I called several clients to give them the a heads up and started
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Lenders Re-Check Value of Home Prior to Closing
Some lenders are now ordering second appraisals right before the loan closes to make sure the value is still there. So, if you go into contract, put a deposit down, apply for a mortgage
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Mortgages For Expensive Coops Get Increased!
FNMA recently increased conforming loan amounts on single family homes up to a maximum amount of 729,000 in certain areas. Loan amounts in between 417,000 and 729,000 are referred
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New York Mortgage Broker Refuses to Transfer FHA Loan Certificate
I have written several times about FHA mortgages and how I am not a huge fan. Well once again, I can tell you why.
A client had gone to a mortgage company in Brooklyn to obtain an FHA loan.Â
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Where In The World has Dale Siegel Been?
All right, talk about MIA, delinquent and irresponsible!! For the past few weeks, I have been travelling. Mexico was great. needed that R&R. Washington DC is always
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My FICO Score Sucks?
Whatever do I do?
First thing, you have to get your hands on a copy of your credit report and check it out. Go to www.myfico.com and order a copy of it. This site is no gimmick, it is a
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Will The Price of Oil Help Lower The Mortgage Rates?
As oil passes the $130 a barrel mark, which inevitably drive the price of gas up- tomorrow, people will look for some reprieve.
Â
I cannot tell you the interest rates will drop anytime
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