Dually Licensed Jeannie
Dually LicensedForum Replies Created
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I cannot stand to stomach a loss of one million or several hundred thousand dollars on a vehicle or RV. I suggest renovate the RV you have and forget about trading your existing RV for a brand new RV. It will drop 90% of the value in ten years anyways. RVs is like rent. Not an investment but rather an expense.
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This reply was modified 9 months, 4 weeks ago by
Gustan Cho.
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This reply was modified 9 months, 4 weeks ago by
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Bank statement mortgage loans are designed to help self-employed borrowers who may need traditional income documentation like W-2s or pay stubs. Here are the typical requirements for such loans:
Basic Requirements
Bank Statements:
- Duration: Usually, lenders require 12 to 24 months of personal or business bank statements.
- Account Information: Statements must include the account holder’s name, account number, statement date, beginning and ending balances, and details of deposits and withdrawals.
Income Calculation:
- Personal Bank Statements: Lenders typically add up the total deposits and average them over the statement period. Non-business-related deposits may be excluded.
- Business Bank Statements: Lenders often apply an expense ratio (typically 50%) to the total deposits to estimate the borrower’s net income.
Credit Score:
- A minimum credit score of 600 to 620 is generally required. However, some lenders have higher requirements depending on the loan amount and other factors.
Down Payment:
- Typically, a down payment of 10% to 20% is required. The exact amount may vary based on the lender’s policies and the borrower’s financial profile.
Reserves:
- Lenders might require borrowers to have reserves equivalent to several months of mortgage payments in savings or liquid assets.
Documentation:
- Proof of Business Ownership: A business license, incorporation articles, or an accountant’s letter.
- Profit and Loss Statement: Sometimes required to supplement bank statements.
- Identification: Valid government-issued ID.
Debt-to-Income Ratio (DTI):
- Lenders will calculate the DTI ratio using the income derived from bank statements. The maximum allowable DTI ratio is usually around 43-50%.
Property Requirements:
- The financed property must meet the lender’s type, location, and condition criteria.
Steps to Apply for a Bank Statement Mortgage Loan
Gather Documentation:
- Collect 12-24 months of consecutive bank statements.
- Ensure all statements are complete and show detailed transaction histories.
Contact Lenders:
- Reach out to lenders that offer bank statement loans. It’s beneficial to consult with mortgage brokers who can compare multiple lenders.
Submit Application:
- Fill out the loan application and submit all required documentation.
Income Calculation:
- Work with the lender to verify the calculated income based on bank statement deposits.
Loan Approval Process:
- The lender will review your application, credit history, and financial documents. They may ask for additional information during underwriting.
Loan Closing:
- Once approved, proceed with the closing process, including signing the loan agreement and paying any required closing costs.
Bank statement mortgage loans are tailored for self-employed individuals who find it challenging to qualify for traditional loans due to a lack of conventional income documentation. By providing bank statements that show a steady flow of deposits, borrowers can demonstrate their ability to repay the loan.
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Thank you for providing that information about the former Rio Arriba County Sheriff James Lujan case. This is a significant legal case involving a law enforcement official. Based on the details you’ve shared, here’s a summary of the key points:
Identity: James Lujan, 60 years old, former Sheriff of Rio Arriba County.
Charges: Convicted of two felony charges:
- Aiding a felon
- Intimidating a witness
Sentence:
- Three years in prison
- Followed by 1.5 years of probation
Case details: Lujan helped a former Española City Councilor evade police after a high-speed chase in 2017. He directed a deputy to conceal his actions
Legal process: This was a retrial. An initial jury failed to reach a verdict.
Aftermath: Lujan resigned from his position as Sheriff shortly after the conviction. This case highlights abuse of power and corruption within law enforcement, which can seriously affect public trust and the justice system’s integrity. It reminds us of the importance of accountability for all public officials, including those in law enforcement.
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Thank you for providing information about obtaining an NMLS license in New York. Let’s break down the process:
- Apply the Nationwide Mortgage Licensing System (NMLS).
- This is the first step in the process.
- The NMLS is a centralized system for mortgage licensing.
Complete Pre-licensing Education Courses
- Twenty hours of NMLS-approved courses are required.
- This includes 3 hours specifically on New York law.
- These courses prepare you for the role of a mortgage loan originator.
Pass the SAFE Mortgage Loan Originator Test
- This test consists of a National Component with Uniform State Content.
- It assesses your knowledge of mortgages. Lending practices and regulations
Additional information that might be helpful:
Background Check and Fingerprinting: Most states require this as part of the licensing process
Credit Check: Your credit history may be reviewed
Sponsorship: It would help if you typically were sponsored by an NMLS-registered financial institution.
State-Specific Requirements: New York may have additional requirements beyond these basics
Continuing Education: After obtaining your license, you must complete annual continuing education to maintain it.
Would you like more detailed information on any of these steps or the responsibilities of a licensed mortgage loan originator in New York?
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Wiring a light switch can seem intimidating, but it’s a relatively straightforward task that homeowners can tackle with proper precautions and instructions. Here’s a step-by-step guide on how to wire a light switch safely: Materials Needed to Wire a Light Switch:
- Light switch (single-pole or 3-way depending on your need)
- Electrical tape
- Wire stripper/cutter
- Non-contact voltage tester
- Screwdrivers (flathead and Phillips head)
Step 1: Turn Off the Power Locate the circuit breaker controlling the switch you’re working on and turn it off. Double-check that the power is off using a non-contact voltage tester on the switch terminals and the light fixture itself.
Step 2: Remove the Old Switch Using a flathead screwdriver, unscrew the switch plate cover and the switch itself from the electrical box. Carefully pull out the switch, taking note of which wires are connected to which terminals.
Step 3: Disconnect the Wires Unscrew the terminal screws and detach the wires from the old switch. Straighten the wires and strip about 3/4 inch of insulation from the ends using a wire stripper.
Step 4: Connect the Wires to the New Switch Connect the wires to the new switch terminals, ensuring a tight connection. The green or bare copper wire is the ground wire and should be connected to the green ground screw on the switch. The hot wire (usually black) connects to one terminal, and the neutral wire (usually white) connects to the other terminal.
Step 5: Secure the Switch Carefully tuck the wires into the electrical box, ensuring they’re not pinched or exposed. Secure the new switch to the electrical box using the mounting screws.
Step 6: Restore Power and Test Turn the circuit breaker back on and test the new switch by turning it on and off, ensuring the light fixture is working correctly.
Step 7: Install the Switch Plate Cover Once everything is working properly, install the switch plate cover using the mounting screws.
Remember to exercise caution when working with electricity and follow all safety protocols. If you’re uncomfortable or unsure about any part of the process, it’s best to consult a licensed electrician.
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Funny video clip of Bernie Mac getting punked.
https://www.facebook.com/share/r/wHrToUTYJJjymbtb/?mibextid=D5vuiz
facebook.com
His was shook when the cop asked for the keys tho‼️😂👏 • • #explore #sneako #sneakoclips #bradleymartyn #stevewilldoit #twitch #rumble #confrontation #gymfight #calledout #explorepage #hstikkytokky...
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Peter Schiff nails it that FED Chairman Jerome Powell lies about inflation.
https://www.youtube.com/live/Yp6uGtxii18?si=YapAhSCOjAteDfVm
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Here are some more jokes
