Heather Frye (New American Mortgage)

Here are the general rule of thumb guidelines:

CONVENTIONAL LOANS:

Foreclosure – 7 years or 3 years with extenuating circumstances

Short Sale - 4 years with 10% down / 2 years with 20% down

Bankruptcy – Chapter 7 requires 4 years have elapsed from time of discharge

- Chapter 13 requires 2 years from discharge or 4 years from dismissal

FHA LOANS:

Foreclosure - 3 years or 2 years with extenuating circumstances

Short Sale - 3 years **NO waiting period if property included in short sale had a mortgage that was NEVER late and seller was NOT taking advantage of declining markets

Bankruptcy – Chapter 7 requires 2 years have elapsed from time of discharge

- Chapter 13 requires 1 year after repayment has elapsed and in good standing

VA LOANS:

Foreclosure - 2 years

Short Sale - 2 years **NO waiting period if property included in short sale had a mortgage that was NEVER late and seller was NOT taking advantage of declining markets

Bankruptcy – Chapter 7 requires 2 years have elapsed from time of discharge

- Chapter 13 requires 1 year after repayment has elapsed and in good standing

SOME KEY POINTS TO REMEMBER:

• The above statements are typical guidelines and do not guarantee any type of loan approval.
• All situations typically require re-established credit in some form (credit cards, installment debts)
• Extenuating circumstances DO NOT INCLUDE:

DIVORCE

INABILITY TO SELL A HOUSE DUE TO JOB RELOCATION

POOR FINANCIAL MIS-MANAGEMENT

WHY NEW AMERICAN MORTGAGE IN FREDERICKSBURG VA???

Well – for starters – the employees here are Fredericksburg locals. We live here, we work here, we volunteer here. We are passionate about our community and Fredericksburg in itself. We send our children to school here, we shop here, we raise our families here. Furthermore … New American Mortgage offers something other lenders, mortgage companies and banks DO NOT.

We do things backwards (which actually is front wards and makes much more sense) than the other competitors. We collect COMPLETE loan packages & applications UP FRONT, send them to underwriting, and get full loan decision within 72 hours. Then, we process and complete the loan process to ensure a SEAMLESS and QUICK closing without any last minute – DELAYS OR NEEDS!!! Unheard of right? Check out our other sites and see what others are saying. Google search us, look us up on FACEBOOK, YOU TUBE, YELP. See for yourselves!

http://www.newamerican.com/heather.frye - YOU CAN APPLY ONLINE :)

Who is New American Mortgage?

New American Mortgage is a progressive full-service mortgage banker based in Charlotte, North Carolina. It is one of the fastest-growing mortgage companies in the United States, with over 40 offices nationwide. New American Mortgage funds its own loans and is known for having the fastest loan processing time in the industry, processing and approving most loans in less than seven business days, versus the industry average 30+ days.

In addition to offering all traditional mortgage loan products, New American Mortgage is one of the foremost experts on the FHA 203k rehab loan that can be used for the purchase and rehabilitation of the many foreclosed and bank owned properties around the United States. New American Mortgage is a strong proponent of innovative marketing techniques. It provides social media training for agents, including classes on how to use Facebook and Twitter as marketing tools. The company leverages three full time social media professionals to support and grow the business of its real estate and builder partners.

New American Mortgage was founded by Casey Crawford, who played football for Super Bowl XXXVII champion Tampa Bay Buccaneers and was selected in the 1995 Major League Baseball draft by the Atlanta Braves, and Toby Harris, an avid sportsman, Ironman triathlete,licensed pilot and former VP of Joint Ventures for National City Mortgage.

With the weather looking extremely gloomy today and for the upcoming weekend, I just wanted to share some ideas to help keep you and the kids busy.

1. Bake something. Kids love to help in the kitchen. Whether you have stuff to make cookies, cupcakes or even just pancakes, let the kids help and make an activity out of it!!

2. Redbox. $1 plus tax to rent a movie, and they Are located all over the place. Sooo easy!

3. Arts & crafts. Do a google search if you lack ideas. Use stuff you already have at home. Create stuff. Allow your kids to use their imaginations!!!

4. Hide & Seek. Sounds simple right? Back to basics, but can be a lot of fun!

5. Puppet Show/play. Again, use your imaginations!!! Let the kids help with the script and plot

Just a few ideas to help liven up those gloomy days together!!!

Like my Page on Facebook http://www.facebook.com/thesimpsonteam

Have a great weekend!!!

Across the US, there are a plethora or mortgage lenders and finance companies offering residential financing to consumers looking for mortgages.

What's the difference between one or the other? What makes one better or worse than another?

Really it's just like everything else. Burger King or McDonald's? They offer the same food, but it tastes very different.

Finding the right mortgage company is similar.... it's all a matter of personal preference and reputation.

New American Mortgage Company is a mortgage lender. We are not a BANK. We are not a BROKER. We are a mortgage company, that lends our own money to offer residential financing to qualifying consumers. We build a reputation around our culture, ethics and customer service.

But at the end of the day, sometimes you have to try a company before you can discover whether or not they are a good company. When shopping for a mortgage, you typically don't have that kind of time. And if it doesn't work, or closing gets delayed - it could mean you lose the shot at buying your new home.

My suggestion, ask questions and do your homework. Ask your friends, neighbors, social media contacts. Search online and explore your options.

I hope you find New American mortgage and Heather Frye while you are searching :)

Good luck!!!

The market is on the rise according to several sources.

Don't delay. Apply online today - http://www.newamerican.com/heather.frye

Read more about local market trends at http://www.trulia.com/real_estate/Fredericksburg-Virginia/