Friday, November 18, 2011

HARP 2.0 preparatory steps to take

HARP 2.0 has waived ALL of the Loan to Value limitations and NO MATTER how upside down you are in your present loan, I can help you with a HARP 2.0 loan!

There are preparatory steps to take to be ready with your application on December 1, 2011 when the program is scheduled to roll out.

For the 5 preparatory steps, see my Blog tab "HARP 2.0" (on the home page of my blog under the picture of the Delicate Arch) or click here HARP 2.0 for the list of items needed to properly prepare for your loan application.  

Call me with questions at 801-540-5108 or e-mail:

Wednesday, November 16, 2011

Get your FULL credit approval first!

An online "fast application", or a "pre-qualification" without a credit report pulled is causing problems!

Get a FULL credit approval letter before shopping!

At the recent National Association of Realtors (NAR) Convention in California, it was reported that TWICE as many purchase contracts are failing this year as compared to last year!

Realtors are taking phoney credit approvals from mortgage lenders who aren't doing their due diligence with their borrowers and then later the same lenders are finding that, OOPS, the borrowers credit, income, assets, or whatever caused the train to come off the track after the COMPLETE application information DIDN'T check out.  :(

My credit approvals are always backed up by a credit report AND an Automated Underwriting System (AUS) approval.  When my credit approval accompanies a purchase contract, all that needs to happen is the offer needs to get accepted, appraisal and title report received and close the loan!

Don't take a chance on a failed purchase offer because of the failure of the lender to do a FULL credit approval for the borrower.  :)