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Have You Been Turned Down for a Loan?
Last year Mike was turned down for a loan because he wrote off too many expenses on his tax return. He also had had 3 months off because of an injury, and as a union worker did not get paid for that time off. He could have lowered the interest rate from 4.99% to 3.99...
True or False: You Need 2 Years of Tax Returns to Qualify?
FALSE! At times Fannie Mae and Freddie Mac’s automated underwriting system (DU and LP) will calculate that a borrower has good enough credit or enough equity or enough cash reserves where they find this borrower is low risk and therefore only needs to present 1 tax...
Fluctuations in the Stock Market
Another rocky week in the markets gave us more downside to the stock market and see-saw action in the fixed rates. The biggest news was that the Federal Reserve decided to leave rates as is, or in other words not raise them again, given the world economy’s weakness....