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Scott Williamson's Answers

No Cash Out Mortgages For Those In The Rural Country?
many Lenders have many different guidelines and regulation that may prevent them form doing particular loans. the ability to to lend in all situation depends on how many investors they have purchasing thier loans. Sacramento wholesale Mortgage is able to fund loans such as what you discribe. Please...
Walk away from the property?
you have two options that will not impact your credit;1. refinance the property with a lower rate to lessen the loss. rates at at an all time low and it is a good time for this. call me for current rates.2. list your property for sale. we contact your lender and request tyheir approval on a short sale for current...
Does My Mother Need A Refi
Yes your Mother will need to refinance her home in order to remove your name from the loan. There are some special cercumstances in which you may be able to purchase your home without being removed from your Mother's loan.
Should I fix the square footage of my house with county assessor?
I can refinance your property under the HARP2.0 with unlimited loan to value and in most of my cases I do not require an appraisal. Therefore you would not have to go through the cost of the appraisal nor would you have mortgage insurance with this program. On the other hand if you are just interested in...
How would a lender find out if a homeowner rented out their reverse mortgaged home
It is not illegal to rent your home, if you read the reverse mortgage note you will see that contractually you must maintain the property as your primary residence. Therefore renting the property out would trigger lender to call the note due and payable. This will create a problem, especially if you...
What do i need to qualify for a no cost refinance and is it really no cost or just added to the loan?
the term "No Cost" is misleading. There is a cost to everything. My broker points are usually paid for by the lender. the title, escrow, appraisal and other fees can be paid for by one of three ways. you can pay them when you sign in escrow (lowest rate and payment) - you can finance them into the loan (higher...
What options are there if you locked your mortgage interest rate and the rate has dropped
If you are doing your loan through a lender you really don't have an option with that lender. If you are using a broker, it would be unethical for the broker to take you to another wholesale source. I wouldn't trust any broker that would do this. However if the broker has a good relationship with the...
Should we first get an appraisal before making an offer on a property or is it not required by lenders?
SerenaYou will need to have an appraisal if you are going to need a mortgage however you do not have to do the appraisal before the offer is accepted. If you need help with the value feel free to contact me.

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