Profile picture for Tom Burris

Tom Burris

Lender

Mortgage Banker (11 years experience)

Specialties:
Purchase Loan,
Refinancing

Advice

  • (449 Contributions,
  • 11 Best Answers,
  • 68 Helpful)

Contributions are sorted newest to oldest.

HUD didn't insure mortgage

Answer

I wouldn't be asking here. I would call HUD or talk to a real estate attorney.Lenders cannot collect what you do not legitimately owe.... and if HUD rejected the MIP then you should get that back in my opinion. But I am not an attorney 

  (0)
How to find a good broker for a re-fi

Answer

a regular first lien lender(bankers and brokers) would lose money doing a $35,000 cash out loan.you need a heloc lender..... like a bank or credit union.   

  (1)
Best Way to Reinstate VA Loan Eligibility Quickly

Answer

I have done VA deals with 'bonus eligibility' before.  I don't recall how the Vet obtained the additional eligibility. Might be worth the research, as it might get you enough for the next purchase...... assuming you qualify for two loans. 

  (0)
I am having issues with the FHA bond loans.

Answer

The loan officer likely would not have resubmitted with the 3.5% down coming from your own funds if you didn't have the allowable funds for the loan.The fact that you make too much for the DPA isn't a factor there. 

  (0)
Bankruptcy Question

Answer

No. FHA will take you right away. You have the other qualifications, and the underwriters will be strict. But a good loan officer can look at your situation and let you know if you have a chance right now. 

  (0)
Can I qualify for a loan?

Answer

What do the tax returns say?If we averaged 2yrs of real estate income(after deductions)..... what does that say? 

  (0)
Error on application

Answer

I don't see anyone getting too upset about that. The lender will get the rel payment from the credit report.A simple email to the loan officer is all I would do....  You aren't in hot water 

  (0)