Johnny James's Discussions

As with anything that is important you may want to have atleast one or two offers to compare. Not sure what process you used to find the person you are working with but obviously the relationship is not a good one because that person should be the first person you would speek to about the fees they are charging you and why. All anybody else can do is speculate on why the fees are what they are. That person mya have held your hand for months getting your scores were they are. I do not know but I know before I paid $1000 let alone $10,000 I would want to give that person the chance to explain.www.palmdalemortgageguide.com

Your agent represents you and you have questions about the basics whya re you not talking to your agent? Remember she is wonderful according to you!! FHA and Hud have lots of info for first time buyers. Personally before I work with a FTHB I recommend that they take the one day course and learn about the programs and steps involved in the biggest purchase of your life.www.palmdalemortgageguide.com

This is a commission based business and most real estate agents and loan officers only get paid when a transaction closes. If they have found an employer that pays a wage and commission they are in paradise. Most of us do not have that luxury.

Listing a short sale or foreclosure for sale is serious business these days. If you price to high it will sit and then you have to constantly adjust the price. If you price it low you get multiple offers and the possibility of a bidding war to get the price up a bit.

those government programs are incentives not laws. They can not force the lenders and servicers to use those guidelines. They give them incentives or enticements to use them. I have some information straight from the horse's mouth on my websitepalmdalemortgageguide.com

A hungry lender will offer you a meal but when you get inside they will be feeding you smoke. You need to consult with someone who will feed you the facts so you can  put yourself in a better position to achieve your goal.Consultation Is Always Freewww.palmdalemortgageguide.com

I care I live here and work here and do business here.www.palmdalemortgageguide.com

if your loan to value is over 105% than a loan modification may only be a temporary band aid.Consultation is Freewww.palmdalemortgageguide.com

Did you guys read the good neighbor policy be respectful and on topic? Keep it professional you can not pull yourself up by knocking someone else down. I offer to help solve problems and if possible provide guidance through complex situations. A lot of people blow smoke. Everybody knows there is no 500 fico no money down 5% rate purchase money out there FHA or anything else. Why not admit that the best thing for a borrower in this situation to do is work on the challenges that have them in the high risk group and aim for the low risk group.Keep the "Faith".

If a client is purchasing a new home prior to selling the existing property they are required to qualify with both mortgages, including principal, interest, taxes, and insurance. If the equity is less than 30% consisting of market value less the amount owed, atleast 6 months of reserves are usually required.If the equity is greater than 30% you may get away with 2-4 months of reserves.If the client is renting out there existing property the client must qualify with both mortgage payments.(Rental income will only be taken into account when there is more than 30% equity in the property). In that case only 75% of the rental income will be be used for the qualifying ratios. Also the lender will probably want to see a 1 year lease agreement with proof of a security deposit and rent receipts.If I remember correctly there are two situations that can give you some wiggle room. 1. If you are relocating to a new area outside of normal commuting distance.2. If you have already been renting the original residence for 6 months and have a lease,deposit, and rent receipts.In these two cases you may be able to use more than 75% of the rental income unless the area has a high rental vacancy rate.Sorry So Lengthy but I encountered it personally with my second home