Money Makeover
Resolve to Get Your Credit Back on Track
As 2009 rolls forward and the monthly billing statements flood our mailboxes, we clearly begin to see the financial repercussions of the holiday season. With the total amount of consumer debt in the United States at nearly $2.6 trillion dollars, it is no wonder so many families are in a monthly panic. The following money makeover tips should provide a few rays of light at the end of the long tunnel of debt that will not only help you get your finances and credit back on track, but also get you one step closer to your home ownership goals.
Build Your Reputation
Show lenders that you have a history of responsible credit management by applying and establishing credit history on a card at least six months before applying for a mortgage. Use your credit card to create a track record that will allow lenders to determine whether or not you are financially fit for your new purchase or refinance.
Contact Lakewood Capital Inc. online at http://lakewoodcapitalinc.com to discuss your credit history and to determine which mortgage programs best fit your financial situation.
Settle Old Debts
Sure, this may be easier said than done, but what better time to get your finances in order than the New Year! Start by looking into your default history. These credit slipups can cost you down the road when applying for a home loan or loan of any kind. In order to ensure your credit reputation is in good standing, check your credit report regularly for errors or collections. You may be surprised to find a few potentially negative or unsettled accounts.
Call Lakewood Capital Inc. at 888-516-7555 to learn how you can acquire your credit report and ultimately determine your mortgage program options.Elaborate On Your Application
In this day and age of divorce, credit fraud and foreclosures, it is almost a necessity for loan applicants to include an addendum. When necessary; add further information about previous credit problems. If such problems were after you lost your job, for example, and your financial situation has since improved, you can add a side note explaining your condition. Keep track of your purchases and obtain a current copy of your credit report to make sure your credit history is accurate and that no one else is running up debt in your name.
Improving your credit report will take daily effort and dedication on your part. Get a fresh start in 2009 and resolve to make financial responsibility a priority in your life.
Keeping You Informed
Lakewood Capital Inc. is dedicated to keeping you informed of the latest market trends and mortgage options. Visit us online at http://lakewoodcapitalinc.com, or call today at 888-516-7555, to obtain custom loan options designed to fit your needs and help you obtain your home ownership goals.
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Additionally, if the lender is approved under VA's Lender Appraisal Processing Program (LAPP), the lender may review the appraisal completed by a VA-assigned appraiser and close the loan on the basis of that review. The LAPP process can further speed the time to loan closing. |
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A funding fee of 2.75 percent must be paid by all eligible Reserve/National Guard individuals. A down payment of 5 percent or more will reduce the fee to 2.25 percent and a 10 percent down payment will reduce it to 2.0 percent. The funding fee for loans to refinance an existing VA home loan with a new VA home loan to lower the existing interest rate is 0.5 percent. Veterans who are using entitlement for a second or subsequent time who do not make a down payment of at least 5 percent are charged a funding fee of 3 percent. |
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Is Now the Time to Become a Homeowner?
Home prices have dropped and mortgage rates are the lowest in decades, but is it the best time for you to purchase a home?
Lower home prices, due in part to the declining median price of homes, are motivating many potential home buyers to take action. According to the National Association of Realtors, the median home price for an existing home in the United States during December 2008 was $175,400 a decrease of 15.3 percent from $207,000 a year ago.
Given the current recession, median home prices are likely to continue to fall in 2009 in most markets. If you're one of the many potential homebuyers planning to take advantage of the plunging home prices, make sure you're financially prepared to acquire a mortgage and ready to take on the responsibilities of home ownership.
Financial Preparation
As you may know, the proverbial bar has risen when it comes to credit and it has become a bit tougher to qualify for a mortgage. Before you set your hopes on a home, make sure you will qualify for a loan by having good credit (typically a score of at least 620) and a good-sized down payment in the bank of at least 10 percent. In Maine, a popular loan is the USDA loan. This is a true 100% financed loan and many Maine people qualify. Obtain a full list of loan qualifications by meeting with a Lakewood Capital Inc. mortgage professional. We will not only help you review your current finances, but also suggest a mortgage program that best fits your situation.
Mortgage Rates
Low rates, combined with falling home prices, are making homes affordable for those who qualify. Call 888-516-7555 today to discuss purchasing qualifications for your area and whether homeownership is right for you.
Home buyers aren't the only ones benefiting from these new, low mortgage rates. Many homeowners, who have been financially responsible and have equity in their homes, are taking notice of the falling rates and opting to refinance their homes at a better rate. Contact us online at http://lakewoodcapitalinc.com to learn if your credit score and current home equity is enough to qualify for a refinance without the hefty fees.
Plant Roots
The economy is bound to be a bit bumpy the over next few years, make sure you are financially equipped and mentally prepared to see home prices drop even more after your purchase. Though home prices will fluctuate, stay put and plan to live in your home for five or more years so that you can witness your home appreciate in value.
Keeping You Informed
Lakewood Capital Inc. is dedicated to keeping you informed of the latest market trends and mortgage options. Visit us online at http://lakewoodcapitalinc.com, or call today at 888-516-7555, to obtain custom loan options designed to fit your needs and help you obtain your home goals.
Sorry about the re-post but i didnt post it to active rain the first time :)
Questions and Answers for Borrowers about the
Homeowner Affordability and Stability Plan
Borrowers Who Are Current on Their Mortgage Are Asking:
1.
What help is available for borrowers who stay current on their mortgage payments but have seen their homes decrease in value?
Under the Homeowner Affordability and Stability Plan, eligible borrowers who stay current on their mortgages but have been unable to refinance to lower their interest rates because their homes have decreased in value, may now have the opportunity to refinance into a 30 or 15 year, fixed rate loan. Through the program, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they hold in their portfolios or that they placed in mortgage backed securities.
2.
I owe more than my property is worth, do I still qualify to refinance under the Homeowner Affordability and Stability Plan?
Eligible loans will now include those where the new first mortgage (including any refinancing costs) will not exceed 105% of the current market value of the property. For example, if your property is worth $200,000 but you owe $210,000 or less you may qualify. The current value of your property will be determined after you apply to refinance.
3.
How do I know if I am eligible?
Complete eligibility details will be announced on March 4th when the program starts. The criteria for eligibility will include having sufficient income to make the new payment and an acceptable mortgage payment history. The program is limited to loans held or securitized by Fannie Mae or Freddie Mac.
4.
I have both a first and a second mortgage. Do I still qualify to refinance under the Homeowner Affordability and Stability Plan?
As long as the amount due on the first mortgage is less than 105% of the value of the property, borrowers with more than one mortgage may be eligible to refinance under the Homeowner Affordability and Stability Plan. Your eligibility will depend, in part, on agreement by the lender that has your second mortgage to remain in a second position, and on your ability to meet the new payment terms on the first mortgage.
5.
Will refinancing lower my payments?
The objective of the Homeowner Affordability and Stability Plan is to provide creditworthy borrowers who have shown a commitment to paying their mortgage with affordable
1
payments that are sustainable for the life of the loan. Borrowers whose mortgage interest rates are much higher than the current market rate should see an immediate reduction in their payments. Borrowers who are paying interest only, or who have a low introductory rate that will increase in the future, may not see their current payment go down if they refinance to a fixed rate. These borrowers, however, could save a great deal over the life of the loan. When you submit a loan application, your lender will give you a "Good Faith Estimate" that includes your new interest rate, mortgage payment and the amount that you will pay over the life of the loan. Compare this to your current loan terms. If it is not an improvement, a refinancing may not be right for you.
6.
What are the interest rate and other terms of this refinance offer?
The objective of the Homeowner Affordability and Stability Plan is to provide borrowers with a safe loan program with a fixed, affordable payment. All loans refinanced under the plan will have a 30 or 15 year term with a fixed interest rate. The rate will be based on market rates in effect at the time of the refinance and any associated points and fees quoted by the lender. Interest rates may vary across lenders and over time as market rates adjust. The refinanced loans will have no prepayment penalties or balloon notes.
7.
Will refinancing reduce the amount that I owe on my loan?
No. The objective of the Homeowner Affordability and Stability Plan is to help borrowers refinance into safer, more affordable fixed rate loans. Refinancing will not reduce the amount you owe to the first mortgage holder or any other debt you owe. However, by reducing the interest rate, refinancing should save you money by reducing the amount of interest that you repay over the life of the loan.
8.
How do I know if my loan is owned or has been securitized by Fannie Mae or Freddie Mac?
To determine if your loan is owned or has been securitized by Fannie Mae or Freddie Mac and is eligible to be refinanced, you should contact your mortgage lender after March 4, 2009.
9.
When can I apply?
Mortgage lenders will begin accepting applications after the details of the program are announced on March 4, 2009.
10.
What should I do in the meantime?
You should gather the information that you will need to provide to your lender after March 4, when the refinance program becomes available. This includes:
2
·
information about the gross monthly income of all borrowers, including your most recent pay stubs if you receive them or documentation of income you receive from other sources
·
your most recent income tax return
·
information about any second mortgage on the house
·
payments on each of your credit cards if you are carrying balances from month to month, and
·
payments on other loans such as student loans and car loans.
Borrowers Who Are at Risk of Foreclosure Are Asking:
1.
What help is available for borrowers who are at risk of foreclosure either because they are behind on their mortgage or are struggling to make the payments?
The Homeowner Affordability and Stability Plan offers help to borrowers who are already behind on their mortgage payments or who are struggling to keep their loans current. By providing mortgage lenders with financial incentives to modify existing first mortgages, the Treasury hopes to help as many as 3 to 4 million homeowners avoid foreclosure regardless of who owns or services the mortgage.
2.
Do I need to be behind on my mortgage payments to be eligible for a modification?
No. Borrowers who are struggling to stay current on their mortgage payments may be eligible if their income is not sufficient to continue to make their mortgage payments and they are at risk of imminent default. This may be due to several factors, such as a loss of income, a significant increase in expenses, or an interest rate that will reset to an unaffordable level.
3.
How do I know if I qualify for a payment reduction under the Homeowner Affordability and Stability Plan?
In general, you may qualify for a mortgage modification if (a) you occupy your house as your primary residence; (b) your monthly mortgage payment is greater than 31% of your monthly gross income; and (c) your loan is not large enough to exceed current Fannie Mae and Freddie Mac loan limits. Final eligibility will be determined by your mortgage lender based on your financial situation and detailed guidelines that will be available on March 4, 2009.
4.
I do not live in the house that secures the mortgage I'd like to modify. Is this mortgage eligible for the Homeowner Affordability and Stability Plan?
3
No. For example, if you own a house that you use as a vacation home or that you rent out to tenants, the mortgage on that house is not eligible. If you used to live in the home but you moved out, the mortgage is not eligible. Only the mortgage on your primary residence is eligible. The mortgage lender will check to see if the dwelling is your primary residence.
5.
I have a mortgage on a duplex. I live in one unit and rent the other. Will I still be eligible?
Yes. Mortgages on 2, 3 and 4 unit properties are eligible as long as you live in one unit as your primary residence.
6.
I have two mortgages. Will the Homeowner Affordability and Stability Plan reduce the payments on both?
Only the first mortgage is eligible for a modification.
7.
I owe more than my house is worth. Will the Homeowner Affordability and Stability Plan reduce what I owe?
The primary objective of the Homeowner Affordability and Stability Plan is to help borrowers avoid foreclosure by modifying troubled loans to achieve a payment the borrower can afford. Lenders are likely to lower payments mainly by reducing loan interest rates. However, the program offers incentives for principal reductions and at your lender's discretion modifications may include upfront reductions of loan principal.
8.
I heard the government was providing a financial incentive to borrowers. Is that true?
Yes. To encourage borrowers who work hard to retain homeownership, the Homeowner Affordability and Stability Plan provides incentive payments as a borrower makes timely payments on the modified loan. The incentive will accrue on a monthly basis and will be applied directly to reduce your mortgage debt. Borrowers who pay on time for five years can have up to $5,000 applied to reduce their debt by the end of that period.
9.
How much will a modification cost me?
There is no cost to borrowers for a modification under the Homeowner Affordability and Stability Plan. If you wish to get assistance from a HUD-approved housing counseling agency or are referred to a counselor as a condition of the modification, you will not be charged a fee. Borrowers should beware of any organization that attempts to charge a fee for housing counseling or modification of a delinquent loan, especially if they require a fee in advance.
10.
Is my lender required to modify my loan? 4
No. Mortgage lenders participate in the program on a voluntary basis and loans are evaluated for modification on a case-by-case basis. But the government is offering substantial incentives and it is expected that most major lenders will participate.
11.
I'm already working with my lender / housing counselor on a loan workout. Can I still be considered for the Homeowner Affordability and Stability Plan?
Ask your lender or counselor to be considered under the Homeowner Affordability and Stability Plan.
12.
How do I apply for a modification under the Homeowner Affordability and Stability Plan?
You may not need to do anything at this time. Most mortgage lenders will evaluate loans in their portfolio to identify borrowers who may meet the eligibility criteria. After March 4 they will send letters to potentially eligible homeowners, a process that may take several weeks. If you think you qualify for a modification and do not receive a letter within several weeks, contact your mortgage servicer or a HUD-approved housing counselor. Please be aware that servicers and counseling agencies are expected to receive an extraordinary number of calls about this program.
13.
What should I do in the meantime?
You should gather the information that you will need to provide to your lender on or after March 4, when the modification program becomes available. This includes
·
information about the monthly gross income of your household including recent pay stubs if you receive them or documentation of income you receive from other sources
·
your most recent income tax return
·
information about any second mortgage on the house
·
payments on each of your credit cards if you are carrying balances from month to month, and
·
payments on other loans such as student loans and car loans.
14.
My loan is scheduled for foreclosure soon. What should I do?
Contact your mortgage servicer or credit counselor. Many mortgage lenders have expressed their intention to postpone foreclosure sales on all mortgages that may qualify for the modification in order to allow sufficient time to evaluate the borrower's eligibility. We support this effort.
Questions and Answers for Borrowers about the
Homeowner Affordability and Stability Plan
Borrowers Who Are Current on Their Mortgage Are Asking:
1.
What help is available for borrowers who stay current on their mortgage payments but have seen their homes decrease in value?
Under the Homeowner Affordability and Stability Plan, eligible borrowers who stay current on their mortgages but have been unable to refinance to lower their interest rates because their homes have decreased in value, may now have the opportunity to refinance into a 30 or 15 year, fixed rate loan. Through the program, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they hold in their portfolios or that they placed in mortgage backed securities.
2.
I owe more than my property is worth, do I still qualify to refinance under the Homeowner Affordability and Stability Plan?
Eligible loans will now include those where the new first mortgage (including any refinancing costs) will not exceed 105% of the current market value of the property. For example, if your property is worth $200,000 but you owe $210,000 or less you may qualify. The current value of your property will be determined after you apply to refinance.
3.
How do I know if I am eligible?
Complete eligibility details will be announced on March 4th when the program starts. The criteria for eligibility will include having sufficient income to make the new payment and an acceptable mortgage payment history. The program is limited to loans held or securitized by Fannie Mae or Freddie Mac.
4.
I have both a first and a second mortgage. Do I still qualify to refinance under the Homeowner Affordability and Stability Plan?
As long as the amount due on the first mortgage is less than 105% of the value of the property, borrowers with more than one mortgage may be eligible to refinance under the Homeowner Affordability and Stability Plan. Your eligibility will depend, in part, on agreement by the lender that has your second mortgage to remain in a second position, and on your ability to meet the new payment terms on the first mortgage.
5.
Will refinancing lower my payments?
The objective of the Homeowner Affordability and Stability Plan is to provide creditworthy borrowers who have shown a commitment to paying their mortgage with affordable
1
payments that are sustainable for the life of the loan. Borrowers whose mortgage interest rates are much higher than the current market rate should see an immediate reduction in their payments. Borrowers who are paying interest only, or who have a low introductory rate that will increase in the future, may not see their current payment go down if they refinance to a fixed rate. These borrowers, however, could save a great deal over the life of the loan. When you submit a loan application, your lender will give you a "Good Faith Estimate" that includes your new interest rate, mortgage payment and the amount that you will pay over the life of the loan. Compare this to your current loan terms. If it is not an improvement, a refinancing may not be right for you.
6.
What are the interest rate and other terms of this refinance offer?
The objective of the Homeowner Affordability and Stability Plan is to provide borrowers with a safe loan program with a fixed, affordable payment. All loans refinanced under the plan will have a 30 or 15 year term with a fixed interest rate. The rate will be based on market rates in effect at the time of the refinance and any associated points and fees quoted by the lender. Interest rates may vary across lenders and over time as market rates adjust. The refinanced loans will have no prepayment penalties or balloon notes.
7.
Will refinancing reduce the amount that I owe on my loan?
No. The objective of the Homeowner Affordability and Stability Plan is to help borrowers refinance into safer, more affordable fixed rate loans. Refinancing will not reduce the amount you owe to the first mortgage holder or any other debt you owe. However, by reducing the interest rate, refinancing should save you money by reducing the amount of interest that you repay over the life of the loan.
8.
How do I know if my loan is owned or has been securitized by Fannie Mae or Freddie Mac?
To determine if your loan is owned or has been securitized by Fannie Mae or Freddie Mac and is eligible to be refinanced, you should contact your mortgage lender after March 4, 2009.
9.
When can I apply?
Mortgage lenders will begin accepting applications after the details of the program are announced on March 4, 2009.
10.
What should I do in the meantime?
You should gather the information that you will need to provide to your lender after March 4, when the refinance program becomes available. This includes:
2
·
information about the gross monthly income of all borrowers, including your most recent pay stubs if you receive them or documentation of income you receive from other sources
·
your most recent income tax return
·
information about any second mortgage on the house
·
payments on each of your credit cards if you are carrying balances from month to month, and
·
payments on other loans such as student loans and car loans.
Borrowers Who Are at Risk of Foreclosure Are Asking:
1.
What help is available for borrowers who are at risk of foreclosure either because they are behind on their mortgage or are struggling to make the payments?
The Homeowner Affordability and Stability Plan offers help to borrowers who are already behind on their mortgage payments or who are struggling to keep their loans current. By providing mortgage lenders with financial incentives to modify existing first mortgages, the Treasury hopes to help as many as 3 to 4 million homeowners avoid foreclosure regardless of who owns or services the mortgage.
2.
Do I need to be behind on my mortgage payments to be eligible for a modification?
No. Borrowers who are struggling to stay current on their mortgage payments may be eligible if their income is not sufficient to continue to make their mortgage payments and they are at risk of imminent default. This may be due to several factors, such as a loss of income, a significant increase in expenses, or an interest rate that will reset to an unaffordable level.
3.
How do I know if I qualify for a payment reduction under the Homeowner Affordability and Stability Plan?
In general, you may qualify for a mortgage modification if (a) you occupy your house as your primary residence; (b) your monthly mortgage payment is greater than 31% of your monthly gross income; and (c) your loan is not large enough to exceed current Fannie Mae and Freddie Mac loan limits. Final eligibility will be determined by your mortgage lender based on your financial situation and detailed guidelines that will be available on March 4, 2009.
4.
I do not live in the house that secures the mortgage I'd like to modify. Is this mortgage eligible for the Homeowner Affordability and Stability Plan?
3
No. For example, if you own a house that you use as a vacation home or that you rent out to tenants, the mortgage on that house is not eligible. If you used to live in the home but you moved out, the mortgage is not eligible. Only the mortgage on your primary residence is eligible. The mortgage lender will check to see if the dwelling is your primary residence.
5.
I have a mortgage on a duplex. I live in one unit and rent the other. Will I still be eligible?
Yes. Mortgages on 2, 3 and 4 unit properties are eligible as long as you live in one unit as your primary residence.
6.
I have two mortgages. Will the Homeowner Affordability and Stability Plan reduce the payments on both?
Only the first mortgage is eligible for a modification.
7.
I owe more than my house is worth. Will the Homeowner Affordability and Stability Plan reduce what I owe?
The primary objective of the Homeowner Affordability and Stability Plan is to help borrowers avoid foreclosure by modifying troubled loans to achieve a payment the borrower can afford. Lenders are likely to lower payments mainly by reducing loan interest rates. However, the program offers incentives for principal reductions and at your lender's discretion modifications may include upfront reductions of loan principal.
8.
I heard the government was providing a financial incentive to borrowers. Is that true?
Yes. To encourage borrowers who work hard to retain homeownership, the Homeowner Affordability and Stability Plan provides incentive payments as a borrower makes timely payments on the modified loan. The incentive will accrue on a monthly basis and will be applied directly to reduce your mortgage debt. Borrowers who pay on time for five years can have up to $5,000 applied to reduce their debt by the end of that period.
9.
How much will a modification cost me?
There is no cost to borrowers for a modification under the Homeowner Affordability and Stability Plan. If you wish to get assistance from a HUD-approved housing counseling agency or are referred to a counselor as a condition of the modification, you will not be charged a fee. Borrowers should beware of any organization that attempts to charge a fee for housing counseling or modification of a delinquent loan, especially if they require a fee in advance.
10.
Is my lender required to modify my loan? 4
No. Mortgage lenders participate in the program on a voluntary basis and loans are evaluated for modification on a case-by-case basis. But the government is offering substantial incentives and it is expected that most major lenders will participate.
11.
I'm already working with my lender / housing counselor on a loan workout. Can I still be considered for the Homeowner Affordability and Stability Plan?
Ask your lender or counselor to be considered under the Homeowner Affordability and Stability Plan.
12.
How do I apply for a modification under the Homeowner Affordability and Stability Plan?
You may not need to do anything at this time. Most mortgage lenders will evaluate loans in their portfolio to identify borrowers who may meet the eligibility criteria. After March 4 they will send letters to potentially eligible homeowners, a process that may take several weeks. If you think you qualify for a modification and do not receive a letter within several weeks, contact your mortgage servicer or a HUD-approved housing counselor. Please be aware that servicers and counseling agencies are expected to receive an extraordinary number of calls about this program.
13.
What should I do in the meantime?
You should gather the information that you will need to provide to your lender on or after March 4, when the modification program becomes available. This includes
·
information about the monthly gross income of your household including recent pay stubs if you receive them or documentation of income you receive from other sources
·
your most recent income tax return
·
information about any second mortgage on the house
·
payments on each of your credit cards if you are carrying balances from month to month, and
·
payments on other loans such as student loans and car loans.
14.
My loan is scheduled for foreclosure soon. What should I do?
Contact your mortgage servicer or credit counselor. Many mortgage lenders have expressed their intention to postpone foreclosure sales on all mortgages that may qualify for the modification in order to allow sufficient time to evaluate the borrower's eligibility. We support this effort.
I have been a broker for years and I am very proud to work for a Lakewood Capital. We personalize our services to suit your needs. At Lakewood Capital you are in the driver’s seat.
Lakewood Capital Inc is a Maine based company that only closes Maine loans for Maine people and has been in business since 1996 when we began financing heavy equipment for the logging industry out of our Skowhegan office. We now do the majority of out home financing from our hub located centrally in Brunswick.
We feel that staying local in an investment in our future and will also allow us to offer our clients superior personal customer service. In working with Lakewood Capital you will find us willing and able to walk you through every step of your transaction whether it is a purchase, construction, home equity, or refinance loan.
We are also equipped to answer any questions you may have regarding your credit and becoming preapproved for your loan.
It is our mission to provide our clients their home loan.
These few simple values allow our clients to be involved in the process every step of the way. Exceeding your expectations is our main concern.
We also allow our clients to access our network of associates; whether it is an appraiser, realtor, inspector or real estate agent that we have developed relationships with.
If you have any questions regarding your current home loan or are thinking about a purchase or refinance feel free to contact me any time, I am in the office from 9am until 7pm 5 days per week but you can also reach me on my cell phone (207-458-0838) or email doug.hersom@lakewoodcapitalinc.com at any time.
You've got options. Discover them here.
We get to know you, your needs and your financial situation to ensure you choose the best option for now and your future. Explore your options with Lakewood.
NEVER any application fee
Equipment loans in as fast as 24 hours!*
Borrow up to 100% of your home's value**
Loans for all credit types***
The Lakewood Difference
Lakewood Capital knows that people have different needs. That's why we give you personal, one-to-one service, and we'll never pressure you into a loan that's not right for you.
Loan Programs: Loan Products:
As a mortgage broker at Lakewood Capital I specialize in government loans such as VA, USDARD, and FHA. These agencies provide loans that offer specific solutions to many types of borrowers and most programs don't have a credit score requirement. While I specialize in government loans I am also able to offer a Varity of "conforming" products to my clients that suit their specific needs whether they need a stated product or a construction loan. While some of these products provide refinance options they also perform very well if you are seeking to buy a home with a small down payment. For example the FHA will allow you to borrow more than 97% of the sales price of you home while other products such as the USDARD and VA will allow you to borrow 100% of the sales price and sometimes the appraised value allowing you a lower loan to value or additional funds for home improvements. These loans are often over looked by buyers due to common misconceptions, most people that they are hard to obtain and require special classes and additional expense. For example I often hear of people talk about FHA and USDA loans carrying with them a recapture fee, this is not true of all these products and I take great pride in helping my clients find the correct product for them.
To whom it may concern,
I started looking for that house of my dreams and of course when I found it I had to find the place that would have the most issues to buy. The house was practically in foreclosure I wasn't even sure we could get the loan with our so-so credit.
Doug from Lakewood Capital was a true god send, he hung in there for months helping us resolve all the issues, he didn't give up. He pulled this one out of the hat so to speak and I would highly refer him to anyone!
We love our new house and are very pleased with the service!
Carrie Packard
"Doug's attitude and personality had us sold from the get go" RB
"We had many offers to consider" TC
"It took Doug's patience and determination to get us this loan" RU
"I thank Doug and Lakewood Capital for getting us this new rate" JC
"I would give Doug's card to any one that asked me about my mortgage" WU
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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