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How to get 100% VA financing with your eligibility tied up!

Lots of BAD Intel

You are about to read a story about a travesty of justice with regards to VA Loans.  Too dramatic?  I don't think so.  Credit unions and inexperienced loan officers are giving out wrong information and bad advice to our Service-members and Veterans.  There is so much bad Intel, but I'm here to talk about the Coup-De-Gras... the brutality of brutalities: Using your VA Home Loan benefits again even if they are "in use".  

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How lenders have changed the way their customers refinance

Everything's changed

You can't lock, can't rush, and you'll have some work to do, but most lenders are giving some big perks to borrowers under the new loan refinance system.  This new "how you refinance" may become the staple system for years to come.  Personally, I think our industry has figured out a great way for the consumer to take control of their own destiny and truly become a partner with their lender.  Here's how it works.

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Helpful CFBC Video about forbearance!

Important to know!

I recently came across a great video explaining forbearance and what options are available to consumers.  One main thing that was driven home is that "if you can make your payments, keep making them". 

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Mortgage Industry on the brink of collapse

A stolen headline

Yes, I stole this headline because it is so impactful... and TRUE.  CNBC has been following this story on the continual ramifications of COVID-19 on the mortgage and financial system.  In my opinion, this will end up being worse than the financial crisis of 07-08 by far.  The foundation of mortgage lending has started to crack all across the industry.

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Mortgage Crisis and Fed Unintended Consequences

It's not a rate lock, it's a rate promise

And that, my friend, is why we are all in trouble.  Unbeknownst to many, lenders are getting crushed in an environment that should have been all fairy tales and sunshine.  My friend, Barry Habib, CEO of MBS Highway, wrote a compelling article (see below) that is a must read for anyone wanting to understand the current mortgage crisis and what is next for home owners.  Here is the link on his site: https://mbshighway.com/mortgage-crisis.html

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High Refinance Demand, No Lender Supply. What to do?

Over 5 Trillion in Mortgages

That's right.  It is estimated that of the 11 Trillion mortgages in America, approximately 5 Trillion qualify for a refinance.  Allow me to put this in perspective.  In a really GOOD year of refinances, you may have 1 to 1.5 Trillion in refinances.  That's ALL YEAR.  Now imagine the capacity (and liquidity) challenges facing lenders when trying to fund a huge number like that but only in a mere matter of months!  It can't be done.  

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The Fed Says they will do "whatever it takes"

Whatever it takes...

They feel like some famous last words.  Words that mark the near end to super-low rates in mortgages.  Bear with me as I take you through some of the more recent turn of events and what it means to you.

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The 3 reasons your balance goes up when refinancing!

A frequently asked question

I have helped many clients refinance and there a question that comes up over and over again when looking at the numbers.  It is, "why is my balance going up so much?"

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2 Critical Tips for Homebuyers

25 Years in Mortgage has taught me lots

Having been in the mortgage business for over 25 years has taught me quite a bit.  First, I've learned that long-term exposure to mortgages is not good for hair growth. Secondly, working with your wife sometimes makes date-night more business than pleasure (not too bad I assure you!).  And lastly, every decision in life now must be done on a spreadsheet! 

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Project My Home flaunts new listing strategy for Sellers!

Realtor Influence Matters

Please note that what I am about to suggest requires the involvement of a Realtor.  The following is a unique listing and selling strategy for today's home seller facilitated by one of the largest lenders in the country.

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