Reverse Mortgage: Not Always the Best Option
A retired couple called me asking for a reverse mortgage. They didn’t realize that this is an FHA loan and that their condo complex had to be FHA approved. I explained to him that I would be glad to get his community approved with HUD, but that that could take 45-60...
You Cannot Use Public Assistance As Income
You cannot use public assistance as income. FALSE! If you or someone you know gets housing assistance such as section 8 or VA housing, you can use this income to qualify. If you have questions about this or any other qualifying questions, feel free to call me. Are you...
Economic News with Lower Rates
Soft economic news brought lower rates… We started the week’s economic data with personal income and spending. Income was up .3% and spending was up .4%. That was not good for mortgage rates, as it showed a pretty good increase in income and people’s spending. This is...