What is the difference between secured and unsecured credit cards?

What factors should a church consider before taking a loan?

• This discussion was modified 7 months, 3 weeks ago by  Sapna Sharma.

What are the risks associated with No-Ratio DSCR Loans?

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?

I am an Experienced Mortgage Loan Originator. How Can You Approach a Home Builder and Become The Builder’s Preferred Lender. Why do home builders want to use you as their preferred lender? How do you become a Preferred Lender of a Home Builder? What do home builders want of a preferred lender. The bottom line is How Do You Become a Preferred Lender For a Home Builder? What can I do to get an opportunity to become a preferred lender for a regional or national home builder?

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 8 months, 2 weeks ago by  Bailey.

Police corruption is out of control. There are more arrests and convictions based on percentage versus the entire civilian population. The hiring process needs to get more strict recruiting police officer recruitment. Anyone with a high school diploma, GED, or two year junior college degree in law enforcement or 60 college semester hours can become a police officer. Here’s a video of Oklahoma police chief Carl Stout, the most Corrupt Police DEPARTMENT under the leadership of Chief Carl Stout.

https://youtu.be/9IGCyzLQR1U?si=5CjUfe_xnMZnGK2N

How To Raise Credit Score To Qualify For Mortgage?

How Do I Qualify For $0 Money Down USDA LOANS?

What are closing costs on a home purchase. What does closing costs cover? Is there closing costs on both purchase and refinance mortgage loans? Who pays for closing costs? Do all mortgage lenders charge the same amount of closing costs? How can you not pay for closing costs on a home purchase? What is seller concession and lender credit and how can you pay for closing costs with seller concessions and/or lender credit? How much are closing costs?

Do you know any banks that offer 10% down on second mortgages or 90% CLTV or HELOC with a 700 credit score or better with income of over 70,000 yearly?

First-time homebuyers and loan officers. Have you hear of EPM DOWN-PAYMENT ASSISTANCE PROGRAM? Equity Prime Mortgage has a forgiveable down-payment assistance program on FHA loans where the down payment of 3.5% is covered as a second mortgage but it is forgiveable after six months. What does forgiveable mean on DPA programs? Forgiveable means that after a certain period of time, if you sell the house or you refinance out of the FHA EPM DPA loan, you do not have to pay the DPA loan of the 3.5% back. The maximum debt-to-income ratio is 48.99% front-end and 48.99% back-end. The EPM DOWN-PAYMENT ASSISTANCE PROGRAM is borrower paid transaction. Therefore, you need to get a 6% seller concession for you to get into a house with no money down and with no closing costs or little closing costs. In most cases, there is no down payment or closing costs. The EPM DPA Mortgage Program is availble on FHA loans in standard areas and high-cost counties like many counties in California. Here is an article I wrote about the EPM Down Payment Program. People that qualify are first-time homebuyers, homebuyers who are first-responders, teachers, veterans, and professionals in the medical field, and homebuyers who earn a certain amount of income based on their county:

https://gustancho.com/down-payment-assistance-mortgage/

gustancho.com

EPM Empowered Down Payment Assistance Mortgage Program

There are recoverable and non-recoverable Down Payment Assistance Mortgage for Homebuyers is offered at Gustan Cho Associates

Where/who can I turn to for flexible/lenient mortgage financing?

What do we need when refinancing our home that is currently on a land contract?

How do you get a bankruptcy trustee approval to get approved for a mortgage during the Chapter 13 Bankruptcy. What is involved in getting a court trustee’s written approval letter for Chapter 13?

What is credit supplement for? When does a mortgage client need to do a credit supplement during the mortgage loan process?

What is height at which a outside deck needs a railing?

WHAT IF I LOST MY JOB AFTER I JUST BOUGHT A HOME?

What is the timeline from pre-approval to clear to close?

What is the credit score that I need for Conventional loan?

What Is Minimum Mortgage Loan Size For NON-QM Loans?

WHAT DOES APPROVE ELIGIBLE PER DU FINDINGS MEANS?

WHAT ARE HARD MONEY LOANS AND PRIVATE MONEY LOANS?

• This discussion was modified 8 months, 4 weeks ago by  Gustan Cho.

Ever since I remember, Florida was the top favorite preferred state to relocate. Retired Americans moved to Florida to live their final days and die there. Is that still the case?

https://youtu.be/heeyfsnW9_k?si=yp74q9MnZcDZFiGg

Hello hope you’re well, have question for you. My brother was divorced but the house is in his wife name and his and the payment and deed are in both. He has 3 children will his part go to his kids.

Shots were fired at former President Donald Trump campaign rally this afternoon grazing the former President by his ear breaking his skin to make him bleed. There are no details about the shooter and how many people were involved. We have no news whether the gunman is caught or still at large. Once shots were fired, Secret Service Agents swarmed the podium for cover of Former President Donald Trump. Trump was whisked away by a team of Secret Service Agents into a black SUV for safety and medical assistance. Trump gave a fists up to relay he was alright to his supporters. From the look of things, former President Donald Trump seems not injured except for a graze by his ear but was bleeding. Excellent news is former President Donald Trump is safe and in good hands with the protection of the U.S. Secret Service. Me and members of GCA FORUMS will keep our members posted on any updates.

https://www.youtube.com/live/iYeUO1K5H9A?si=cLpX4PmNhKkNOust

• This discussion was modified 10 months ago by  Harlan.

Population numbers in cities with high property taxes are decreasing. The populations of cities with high property taxes are dropping rapidly, as scores of homeowners are shifting to other cities where property taxes are lower. This is a key issue which needs to be recognized because it shows us important facts about our communities and housing markets. This phenomenon is happening in different parts of the United States too. Here’s an overview:

Tax Migration: The movement from high-tax areas to low-tax ones is often referred to as “tax migration” or “tax flight.”

Property Taxes: High property taxes act as one major driver for this trend; however, they usually come within the context of a wider high-tax environment encompassing income and sales tax.

Major Examples:

New York has had many people leave them recently due their state’s high taxation policy; Illinois (especially Chicago) has seen similar numbers go away over time because theirs are just too expensive; California also experiences significant outflows annually from those who can no longer afford living there.

On the other hand, states such as Florida or Texas which do not levy individual income taxes at all attract lots newcomers looking seek refuge away From these burdens; Tennessee falls into this category too

Scope: Each year tens-of-thousands leave large metropolitan regions alone – much less smaller ones like Buffalo NY or Cleveland OH – altogether accounting for millions across America each decade!

Implications For Cities: There could be urban decline if people keep leaving cities with higher taxes. City governments may earn less money and struggle with budgets.

Remote Work: With COVID-19 forcing companies into allowing employees work remotely full-time, more working individuals have been given an opportunity never before possible – move without switching jobs!

Cost Of Living Among Other Factors: Taxes definitely drive some moves but things such as cost living differences job availability climates etc also make up part or all motivation behind migration patterns

Political Representation & More: Political power will shift when enough people move out; economies will change too origin places get new businesses destination areas see theirs decline; housing markets could crash in former hotspots while booming elsewhere…

Policy Solutions: Some higher taxed areas are considering implementing new policies that will help them keep residents from leaving. They may reduce taxes or provide other incentives.

Complexity: Causes and effects of this trend can be complex and vary by region, but it is happening!

This shift in where people live is changing who represents them and how their cities are run. It could alter housing markets forever as well… There may be long-term implications for political representation, local economies, and housing markets in origination & destination cities alike.. That being said take into account each specific situation because what’s true here might not hold water elsewhere

https://youtu.be/yrNjUCmTURg?si=PoySl46rKGWN2-Ys

• This discussion was modified 10 months, 1 week ago by  Gustan Cho.

An “asset depletion mortgage loan” is a type of mortgage that is designed for borrowers who have significant assets but may not have a traditional source of income, such as a regular job or salary. These loans are sometimes used by retirees or self-employed individuals who have substantial savings and investments but may not meet the standard income requirements for a traditional mortgage.

In an asset-depletion mortgage loan, the lender considers the borrower’s assets, such as cash, stocks, bonds, retirement accounts, and other investments, as a source of income to qualify for the mortgage. The lender calculates the borrower’s monthly income by depleting or drawing down on their assets over a specified period, often 3-5 years. This calculated income is then used to determine the borrower’s ability to make mortgage payments.

It’s essential to note that asset depletion loans typically come with higher interest rates than traditional mortgages because lenders consider them riskier. Borrowers should carefully consider the terms and conditions of such loans and be aware of the potential risks and costs involved.

These types of loans can be complex, and eligibility requirements may vary from lender to lender. Borrowers interested in asset depletion mortgage loans should work closely with a qualified mortgage professional to understand the specific criteria, terms, and options available to them.

California has 30 million passengers which costs $8 billion dollars to maintain the roads Californians drive. With so many Californians driving electric cars the gas tax money in California is drying up. California is now planning on taxing motorists 30 cents per mile to cover the shortage of the gas tax.

https://youtube.com/shorts/_UDPa2BMS1M?si=LgSyC2kW48ymueN_