Saturday, December 31, 2011
Friday, December 16, 2011
Thursday, December 15, 2011
Monday, December 12, 2011
Are you a self employed, high income earners, having problems qualifying for a purchase loan? Check out this new loan which may help you qualify ...
Asset Depletion Mortgage Loans are a relatively new loan product, but are proving to be a huge benefit for self employed Colorado home buyers. In 2007 the “Stated Income” loan program, which had become prevalent, all but disappeared. “Full Income” documentation underwriting became the norm, and for good reason. But this left many self employed home buyers out in the cold. Now, using Asset Depletion, these self employed borrowers have a solution that will help them qualify for a home.
What is a Depletion of Assets Mortgage? An Asset Depletion Mortgage allows the borrower to qualify by deriving an income from assets they currently hold. This program is not meant for a struggling self employed home buyer with no assets and no income on their tax returns. Two years tax returns are still required, and most likely significant assets will be required. But for a solid borrower with $1,000,000 in the bank, this will be a big boost.
Eligible Assets for Asset Depletion Qualifying - Assets that can be used for qualifying include cash equivalents, such as CD’s, and funds in checking and savings accounts. Also, trust accounts and investment portfolio’s. Retirement accounts like IRA’s and 401k’s can be used, but only if the borrower is 62 years of age or older.
For further information, please call me and lets get you into home ownership
Thursday, December 1, 2011
Julie Reddington Realtor, ABR
Tel: (720) 226-4168 | Fax: (303) 784-0618
TheHouseHunterDenver@gmail.com | www.JulieReddingtonRealEstate.com
Key Masters Real Estate - Metro Brokers
Fannie Mae announced today that it will suspend evictions of foreclosed single family and 2-4 unit properties from December 19th, 2011 through January 2nd, 2012. During this period, legal and administrative proceedings for evictions may continue, but families living in foreclosed properties will be permitted to remain in the home.
"The holidays are meant for families to spend time together, especially if they’ve gone through the stress of financial challenges and foreclosure,” said Terry Edwards, Executive Vice President of Credit Portfolio Management, Fannie Mae. “No family should have to give up their home during this holiday season. Fannie Mae is committed to helping borrowers avoid foreclosure whenever possible and we encourage any homeowner who is having difficulty making their payment to reach out for help.”
Homeowners with Fannie Mae-backed loans can call 1-800-7FANNIE or visitwww.knowyouroptions.com for information and resources on foreclosure prevention options, including contact information for the Fannie Mae Mortgage Help Center or a HUD-approved counseling agency in their area.
Source Fannie Mae