Do You Need 30% Equity in Your Current Home to Buy a New Home?
You need to have 30% equity in your old home before you can buy a new home and also keep the old home. FALSE! Fannie Mae recently decided to change that requirement. Now as long as we can show market rent, even if you are upside down in equity on the current home, you...
Let’s Talk About Jobs
As you know, the first Friday of the month means we got the JOBS report. We added 242,000 jobs to the employees and the unemployment remained at 4.9%. Some say this is not the true number of those actually unemployed, because the number does not include people who...
Saving Money by Increasing Credit Score
I love when I can save people $1000s with some good coaching. Of course they have to follow my advice. Last year, Mr. “R” came in for a refi. He had a 4.99% 30 year fixed and had paid in for 1 year. Now he wanted to refi because rates were low. But when I...
Tax Season Questions
Since it’s tax season I am getting a lot of questions about taxes. If you have a tax return that shows $0 income or even a NEGATIVE income, does this mean you cannot buy property? NO. Many of us have tax write-offs that are not used as a negative in analyzing income...