Would incorporation, registration and tax ID be required in New Jersey to provide mortgage loan services?

Author: admin  //  Category: mortgage loan

In New Jersey, can a Mortgage loan brokerage “company”, the owner or his employees, legally operate as a broker or provider of financial services, be compensated, perform all necessary matters, including signing documents and obtaining funding, prior to actual incorporation, issuance of federal or state tax ID, or formation? And what would be the effects, if any, on matters (already mired in fraud) that were concluded prior to incorporation or registration?

Yes, required.

what happens if i went through foreclosure and the house was auctioned of for 100,000 deficiency in CA?

Author: admin  //  Category: franklin mortgage

The first mortgage Chase sold the property in an auction and got their money but the second mortgage Franklin managment was not and now they reported it on my credit report and wont come out for 7 years. Am i liable to pay the deficiency or does California protect me under the anti deficiency laws?
All loans were to pay off the house, they were purchase money loans.

Chances are they will write off the deficiency balance and send you a 1099 for that amount.. It’s considered unearned income.

Can we still qualify for our old limits with a temporary salary reduction with our mortgage lender?

Author: admin  //  Category: mortgage lender

My husband and I were about to start putting bids on houses, but because of some confusion on his part, he failed to renew a document he needed at work in time, so now his salary has been cut back until the updated document comes in. We’re estimating his salary will be slashed in half for the next 4-6 weeks :/.

I’m just wondering if we should tell our lender or wait it out? We really need to secure a home as our lease is coming to an end soon, and this salary cut is 100% TEMPORARY, even with that I could easily cover the mortgage on my own until his money starts coming back in.

Will a lender want to drop us/slash the amount we can qualify for if we tell them about this? Or is there leniency on temporary cut backs? They already gave us a PQ letter with a great amount on it, but now I’m just worried they’ll cut us off even though this is temporary.

I’m hoping an actual mortgage lender can help me out here on what to do, and how this affects what we’d normally qualify for. :) Thank you!
EDIT: I’ll take help from anyone though, not just a mortgage lender, if anyone has been in a similar situation that’d help thank you! :)

You will be cut back. We verify your income by pay stubs, W-2’s & tax returns. We have to have paystubs that are 30 days old or less. We also do a Verification Of Employment letter that your employer fills out. We will know, there is no way to hide it. The pre-approval is based on your current income so if it drops, even temporarily, we go with that amount We also look at Year to date earnings on the paystubs to make sure it equals the amount we are using. So even if you wait until he gets his certification back you will need to do a letter explaining why this happened. Not an issue once he gets back to full salary (just need a letter explaining why he didn’t make as much year to date as he should have).

How long after a mortgage offer is given does it take for a house sale to complete?

Author: admin  //  Category: mortgage

We have just had an offer from the mortgage company giving us a mortgage. How long does It typically take the solicitors to do their job (in UK)? Shall we expect weeks for completion, months, days etc?

There is no direct. connection between a mortgage offer and the completion of a house sale. It is possible, for example, for a mortgage offer to be made but for completion to never take place and for the proposed sale to collapse.

If an Executor of a will does not go through probate in FL do they still have to file a closing of the estate?

Author: admin  //  Category: fl mortgage

Some people say yes it still has to be filed in court even if it did not go through Probate.
Others say it does not have to be filed in court because it did not involve the court .
This is in FL.

We just went thru. we got a house from parents estate, house was paid off yet showed a mortgage took us two months to straighten out the paperwork. You don’t cross all the t’s etc in the future it could come back to bite you. Damn good thing we ( my sister ) had all the paperwork signed by the probate court.

I would say get it stamped by the courts and county recorders office if t hey come back to you or the executor years later you may bite the bullet. The county Recorders office is there to keep records of transaction and if your paperwork doesn’t show up Good luck. I would talk to both the courts and recorders office play it safe. If we couldn’t get the paperwork straightened out you can’t sell without a clear title. I don’t know what is yin the estate but t his is a legal question don’t take anyone’s word go talk to the recorders office, etc to play it safe

Like you heard some say yes and some say no if everyone agreed it more then likely will be true. I’m telling from personal experience talk to the right people.

Why Are Mortgage Interest Rates Rising?

Author: admin  //  Category: mortgage rates

The cost of buying a home is going up. What’s behind the rise in interest rates? Is now still a good time to buy? WSJ’s Jason Bellini has “The Short Answer.”

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Understanding Mortgage Debt to Income Ratios | It’s Not Rocket Science

Author: admin  //  Category: mortgage loan

Do you understand mortgage debt to income ratios and what it means to you when trying to get a new mortgage? Don Carriker with IWantAGreatHomeLoan.com goes through DTI (Debt to Income) in this episode of “It’s Not Rocket Science”. After watching this video you should better understand the mortgage process and how your DTI can greatly affect the amount of money you can borrow for your next mortgage.

This is why it is very important to get approved for your home loan before you start looking for a new home. You don’t want to put the cart before the horse. In other words, you don’t want to find your dream house only to find out that you can’t afford it because you weren’t pre-qualified. Get pre-qualified today by a highly qualified loan officer and know what you can afford.

Duration : 0:9:45

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Who’s really to blame for the sub-prime mortgage crisis?

Author: admin  //  Category: subprime mortgage

River City Bank’s award-winning video series, “Ask Steve”, is back with its latest installment. Steve Fleming, President and CEO of River City Bank, answers questions from real customers while providing insight and information on key economic issues affecting those in our community.

Duration : 0:4:19

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FundIT Mortgage in Santa Ana (714) 543-4040 – Wholesale Mortgage Lender

Author: admin  //  Category: wholesale mortgage

http://funditmtg.com

https://plus.google.com/102364719899206259518/about?gl=us&hl=en

https://www.facebook.com/FundItMortgage#

Fund It Mortgage Orange County
Serving Southern California
1850 E 17th Street, Suite 120, Santa Ana, CA 92705
Contact Us Now: 714-543-4040

Wholesale Mortgage Lender

714-543-4040 ~ Wholesale Mortgage Lender. A Wholesale Mortgage Lender is a company that loans funds from financial lenders, on your behalf. Our company has in excess of 10 years experience in the banking industry, and we offer the competitive interest rates, closing costs and unequaled service. Buy a HUD home at 50% off on the sales price. Get your free approval today! We arrange finance of up to 97% of the sales price with the advantage of a 10% minimum down payment required. We arrange finance of up to $100,000 for renovations to your home, including the bathroom, kitchen and others. We provide service to investors in the following cities, including Fullerton, Villa Park, Orange and all Orange County cities. Contact us at 714-543-4040 for the best Wholesale Mortgage Lender in Orange County.

714-543-4040 ~ Fund it! Mortgage is an entrepreneurial company with over 10 years of experience in the mortgage banking industry. Our vast variety of products: from first time home buyers assistance programs, to low down payment investment programs; will assure that we can offer the right loan for you!

Serving Southern California: Santa Ana, Anaheim Hills, Tustin, Westminster, Garden Grove, Irvine, Orange, Buena Park, Brea, Fullerton, Fountain Valley, Anaheim, Villa Park, Costa Mesa, Lake Forest, Huntington Beach, and all surrounding cities.

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St. Louis Bankruptcy Attorney Help: Second Mortgage Release (Franklin County, Jefferson County)

Author: admin  //  Category: franklin mortgage

http://www.StLouisBankruptcyAttorneyHelp.com St. Louis Bankruptcy Lawyer Frank Ledbetter, who specializes in Chapter 7 and Chapter 13 bankruptcy offers insights into releasing second mortgages 314-669-4529

Hi, I’m St. Louis Bankruptcy Attorney Frank Ledbetter. I’ve been a St. Louis Bankruptcy Lawyer since 2003.

I’ve helped thousands of clients recover financially through the bankruptcy process. I also have helped several of those clients eliminate second mortgages in a Chapter 13 bankruptcy.

A few years after the bursting of the so-called real estate bubble many Americans now find themselves owing more on their first mortgage than their house is now worth.

Quite a few homeowners also are saddled with a second and sometimes third mortgage in addition to their primary mortgage.

Many people don’t realize it, but it is possible to remove the lien of a second mortgage holder in a Chapter 13 bankruptcy under the following circumstances: the client owes at least one penny more on the first mortgage than the real estate is worth at the time the case is filed.

The client must obtain a certified appraisal for the real estate in order to file the proceeding within the bankruptcy case to strip the lien of the junior mortgage lender.

The process to avoid a junior mortgage lien also is available for a third mortgage. If a client has three mortgages on the client’s property and the client owes more on the first mortgage than what the property is worth, then both the second and third mortgages may be avoided.

Now, if the client has three mortgages and the client’s property is worth more than the balance on the first mortgage but less than the sums of the balances on the first and second mortgages, then the third mortgage still may be avoided but not the second mortgage.

Once the lien of the junior mortgage holder is avoided, the debt becomes classified as unsecured debt, which means for most clients the junior mortgage debt will not need to be repaid in the Chapter 13 bankruptcy, and this debt will finally be cancelled forever upon completion of the Chapter 13 bankruptcy.

If you live in Missouri… like Jefferson County, Franklin County, St. Charles County, or anywhere near St. Louis and are considering filing for Chapter 7 or Chapter 13 bankruptcy, I want you to have my FREE SPECIAL REPORT at no charge. It reveals tips and strategies good people who’ve suffered through tough times can use to turn things around. Just visit StLouisBankruptcyAttorneyHelp.com to get your own copy sent to you right away. As an additional bonus, I would be glad to meet with you for a no cost, no commitment consultation to help you explore your options and determine which debt relief options are best for you.

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