In California, to refinance a property I owned before marriage does my spouse need to sign?

Underwriting wants me to write a letter on my late payments and charge the account off. What should I write?

Does HUD, VA, USDA, FANNIE MAE, and Freddie Mac require verification of rent? How about non-QM lenders? Do they require verification of rent or verification of mortgage?

In California, to refinance a property I owned before marriage, does my spouse need to sign?

I have a client who was approved for FHA with a different lender. She is in a Chapter 13 bankruptcy and has been paid on for 2.5 years. Approval must be obtained from the BK courts for the purchase. She has only W2s for 2019 and 2020 but doesn’t have tax returns. This lender is stating they need tax returns. Can you get this done without tax returns, w2s only? It’s not a self-employed situation.

I am an independent mortgage loan officer and get paid 1099. I do very well but have a lot of write-offs (unreimbursed business expenses), so I declare very little or negative adjusted gross income on my federal income taxes. Due to the low or negative adjusted gross income, I have had a difficult time getting finance on a 2015 45-foot Catamarans Yacht, which is priced at $525,000. It is 45 feet long by 26 feet wide. I think I need to change paths and get a commercial or business loan on this yacht and tell the lender that I am using this Yacht for business purchases only. Can you write off a yacht as a business expense? Can I get a purchase price expense deduction on a yacht? Can I make the yacht a mobile mortgage office? Can my business write off a yacht? Can you get a 30-year fixed rate loan on a yacht? What is the oldest yacht a bank will finance?

Can you buy a yacht as a business expense? What are the tax benefits of owning a yacht? How long of a loan can you get on a yacht? How hard is it to finance a yacht? Can you deduct mortgage interest on a yacht?

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Chicago, Illinois branded as the top three city in the .United States.

https://youtu.be/BhgSz7XF_K0?si=VeC5qr39Uc8Yxnlf

How hard is difficult to finance a boat and yacht? What is the maximum debt-to-income ratio you need to finance a boat or yacht? What is the maximum term can I get a yacht amortized for? `0,15, 25, 30 years? What credit score is required to finance a boat or yacht? Can you get a 30 year amortization on financing a %700,000 yacht? Where do I go for financing a boat or million dollar yacht?

What are the guidelines on gift of equity on VA LOANS. What are the VA GUIDELINES on purchasing a home from a family member under market value.

Lately, we have seen many late payments in the past 12 months from mortgage loan applicants. I just got news from Alex Carlucci that he got clear to close on a manual underwritten FHA loan for a borrower with many late payments due to extenuating circumstances. Due to extenuating circumstances, Alex Carlucci got approved with tons of late payments in the past 12 months via manual underwriting.

South Dakota, located in the Midwestern region of the United States, has a diverse array of beautiful homes in its towns and cities. Some of the best places to live with picturesque residences include:

1. **Sioux Falls**: As the largest city in the state, Sioux Falls offers a mix of urban living and outdoor activities. It has many upscale neighborhoods with beautiful homes, like the historic McKennan Park district.

2. **Rapid City**: Known as the “Gateway to the Black Hills”, Rapid City is surrounded by breathtaking natural beauty. The West Boulevard Historic District showcases many beautiful historic homes.

3. **Spearfish**: Nestled in the northern Black Hills, this small city has an abundance of outdoor activities and is near Spearfish Canyon, a location known for its natural beauty.

4. **Deadwood**: This historic city offers a blend of modern living with an old western charm. Homes here have a unique architectural style and historic feel.

5. **Brookings**: Home to South Dakota State University, Brookings has a vibrant community with a number of beautiful homes, particularly in the historic districts.

6. **Pierre**: As the capital city of South Dakota, Pierre has many beautiful homes. With the Missouri River running alongside the city, some residences even offer waterfront views.

7. **Aberdeen**: This city is a regional hub and the third most populous city in the state. The historic districts, like Highlands Historic District, feature lovely homes with classic architecture.

8. **Hill City**: Known as the “Heart of the Hills”, Hill City is the oldest city in the Black Hills and has many beautifully designed homes amidst the forests and hills.

9. **Vermillion**: Home to the University of South Dakota, Vermillion has a rich cultural scene and an array of housing options, from historic houses to modern designs.

10. **Belle Fourche**: This small town is a rural, scenic paradise with the Redwater River flowing through it. Belle Fourche has many charming, picturesque homes.

Remember to visit these places personally and consider other factors like cost of living, education, employment opportunities, healthcare facilities, and community engagement while deciding where to live. Also, remember that “best” and “beautiful” are subjective terms, and personal preferences may vary.

What are the differences in loan requirements for a primary residence versus an investment property?

How can I qualify for a VA loan as a veteran or service member?

A wildfire recently broke out near me in Orange County, and I could see the giant smoke plume from my place in Irvine for several days. It reminded me just how real the threat of wildfires can be here in California. If you’re not from the area, you’ve probably at least seen all the news about wildfires across the state.

While wildfires are something to be mindful of, there are plenty of ways to lower the risks—especially for homes in fire hazard zones. If you’re looking to buy a home, it’s good to understand where these zones are and what steps you can take to keep your property safer. Not all homes are at the same level of risk, but knowing about these zones can help you make more informed decisions.

What Is a Wildfire Zone?

Certain areas in California are marked as “Fire Hazard Severity Zones.” This means the area has a higher chance of wildfires because of things like weather, dry vegetation, and terrain. You might expect these zones to be mostly in rural places, but even some urban neighborhoods are at risk. Knowing if a house is in one of these zones is key.

Important Things to Know as a Homebuyer:

1. Check the Fire Risk: Before you get too excited about a house, find out if it’s in a high-risk wildfire zone. You can check using CAL FIRE’s map or ask your realtor for more information. This will help you understand what extra steps, like special insurance, might be needed.
2. Get the Right Insurance: Not all homeowner’s insurance covers wildfire damage, especially in high-risk areas. You might need to add more coverage to fully protect your home. Also, homes in wildfire zones usually come with higher insurance premiums, so keep that in mind when budgeting.
3. Look for Fire-Resistant Features: Some homes are built using materials that can resist fire, like concrete or metal roofs. When viewing homes in wildfire zones, ask about the building materials and whether the owner has made any upgrades to improve fire safety.
4. Defensible Space Around the Home: One way to help keep a home safe from wildfires is to have “defensible space.” This means keeping the area around the house clear of things like dry brush, dead leaves, or other stuff that can easily catch fire. When you’re checking out homes, see if the current owner has kept up with this—and be ready to do the same if you move in.
5. Community Efforts Matter: Some neighborhoods have strong community efforts to reduce wildfire risks. They might have a fire-safe council, evacuation plans, or firebreaks in place. Living in a community that takes fire prevention seriously can make a big difference in reducing your overall risk.
6. Be Ready for Evacuations: If you buy a home in a wildfire zone, there may be times when you have to evacuate, especially during fire season. It’s a good idea to learn the local evacuation routes and be prepared in case you need to leave quickly. This is especially important if you have pets or kids.

The Bottom Line

Buying a home in a wildfire zone doesn’t have to be a dealbreaker—but you do need to make sure you’re fully informed. Things like having the right insurance, keeping defensible space, and being ready for emergencies can make a big difference in staying safe and protecting your home. Staying aware of the risks and taking precautions can help you feel confident in your home-buying decision.

Have more questions about buying in these areas? Feel free to reach out—I’d be happy to help guide you through the process!

https://chadbushre.com/

Can I sell my house right after doing a cash out VA refinance?

I built my last start up 14 years ago and I am rusty. I am building credit for a new startup now. Company was formed 4 years ago and was in hybernation. I am making it come alive and start operations now. My questions

Traditional Business Credit building suggests to start with Net 30 accounts. Right now I have 3 charge accounts that are going to start reporting. I possibly can get 2 more charge accounts.

Should I go back and try to get 2 or 3 net 30 accounts or should I just pass the stage of net 30 accounts and move on?

How many tradelines need to be reporting and how many months before we start seeing the scores and paydex calculated and reported?

We live in NC and filed a Chapter 7 bankruptcy on our personal side and a Chapter 11 Bankruptcy on the business side after COVID closed our business. Both my husband and I had upper 700’s for credit before before filing Chapter 7 and Chapter 11 Bankruptcy. Bankruptcy was confirmed in Feb ’21 and final decree was just issued on 11/12/21. We have a home mortgage and HELOC as well as our SBA loan debt repayment that we’d like to roll into one mortgage with a refi. The SBA loan repayment will be repaid by end of 2022 but there is no penalty to repay early if we could refinance. Are we just out of luck with a refi and have to wait 2 years or is there any option to do a refinance now with a decent rate?

I am new to the commercial loan origination industry. My wholesale commercial lenders are asking to prepare personal financial statement of each commercial loan applicant. How do you complete a complete financial statement?

• This discussion was modified 4 months, 3 weeks ago by  Bailey.

How does Proposition 19 in California work? How does the Proposition 19 Property Tax Rule Benefit Homeowners buying a new house? What are the eligibility requirements for PROP 19 in California?

How Long Does Bad Credit Stay On Credit Report?

How do I get a mortgage with a recent charge off?

HOW DO LENDERS VIEW MEDICAL COLLECTIONS?

If you lend in California? Are you aware of Prop. 19 Property Taxes? Do you qualify FHA loans, based on Prop. 19 property taxes? When a senior over age 55 sells her home, and purchases her next home, she can carry her current base property tax rate to her new house, thereby helping a lot to qualify for the loan. There is a calculation and explanation at this government. I will most certainly qualify for Prop. 19. The lender will also have to gross up my non-taxable part of my social security income in order to make the income better. This is legally allowed. 33% of my social security income is non-taxable, therefore, this percentage can be grossed up by 1.25% (I think this is the percentage). This makes a difference. Normally, lenders qualify by taking 1.25% property tax in calculations, however, that amount is very high and when it gets added to monthly payment, then the DTI is not met. For example, on a $615,000 home, with a loan of $304,000, the property tax (1.25%) is $651 per month. With Prop. 19 calculations, it comes to only $482.33. This makes a big difference in cases like mine who is trying to qualify for the highest price home possible based on my income. Last question – does the house I am purchasing have to meet FHA loan criteria? Before I go further, I was wondering if you are aware of Prop. 19 and grossing up income? I will try calling you next week.

• This discussion was modified 4 months, 3 weeks ago by  Dawn.

Do you service loans in Northern California? What kind of loan can you offer which would give me the highest Debt to Income Ratio?

My income is short, however, up to 825 credit score, clean credit and steady income documentation. Have a townhome, which would have to sell and put down up to 50% on my next purchase, however, am not meeting DTI. Looking for a single family home, would be my primary home, after selling my current townhome. Need 57% to 60% DTI. Maybe FHA? Not tried that route yet.

• This discussion was modified 4 months, 3 weeks ago by  Dawn.
• This discussion was modified 4 months, 3 weeks ago by  Dawn.

I had both German Shepherd and Doberman Pinscher dogs all my life and currently have Doberman Pinschers. Both Doberman Pinschers and German Shepherds are phenomenal dogs. Both Doberman Pinschers and German Shepherds are extremely intelligent dogs, if not the top two smartest dogs in the world. Both Dobermans and Shepherds to not need any training but are self trained. They watch their owners and learn by themselves. They quickly pick up what is the right thing to do and what type of behaviors is not condoned. However, I prefer Doberman Pinschers vs German Shepherds due to various reasons. Both Doberman Pinschers and German Shepherds are highly intelligent, trainable breeds. However, knowing that any dog—regardless of its breed—needs training and socialization is essential. The belief that dogs do not need these or are “self-trained” can result in behavior problems.

That being said, here are some reasons why people might prefer Doberman Pinschers over German Shepherds:

Agility and Size: Dobermans have a more streamlined build, which makes them more agile than German shepherds. Doberman’s streamline build. This makes them suitable for different tasks or living arrangements.

Grooming Needs: A Doberman Pinscher’s coat is shorter, so grooming requirements will be less than those needed by a German shepherd, whose fur is longer.

Health Concerns: Compared to GSDs, Doobies may experience fewer issues with hip dysplasia and elbow diseases. Both breeds can suffer from health problems, but this happens more often in one breed than the other.

Nature: They’re described as “velcro-like” because they tend to stick closely with their owners whenever possible.

Barking Level: In certain living situations, such as apartments where noise should be minimal, barky GSDs would not fit into such homes, while quieter dobes would suit perfectly well without disturbing anyone else’s peace during quiet hours.

Looks/Sleekness Factor: Some individuals prefer muscularly built dogs like dobes instead of fluffy ones like German Shepherd dogs. German Shepherd dogs shed everywhere around the house all day long. Knowing somebody loves them unconditionally, even if nobody else does, makes them feel good about themselves ever again until death separates them apart. Amen!

Heat Tolerance Levels (for Southern states): Short hair means coolness during summer when temperatures rise above 80 degrees Fahrenheit, but it still warms up enough not to freeze winter nights. Either way, either direction works out best all year round here down south, where the sun shines nonstop day year-round, and long-term life expectancy wise, too!!!

#hat is profit and loss statement. What is the difference between an income statement and profit and loss statement.

What is the maximum household income limit cap to be eligible for USDA loans. What is the maximum debt to income ratio to qualify for USDA loans.

I know that FHA loans are the best loan programs for borrowers with bad credit and low credit scores. What is the minimum credit score requirements to get approved for FHA loans.

How do non-QM mortgage lenders calculate debt-to-income ratio requirements on non-QM loans.

WHAT IS THE TIMELINE FOR A CLEAR TO CLOSE?

CAN YOU PLEASE EXPLAIN THE AUTOMATED UNDERWRITING SYSTEM.

WHAT IS REFERRED/ELIGBLE PER DU FINDINGS?