Blog Archives | Page 10 of 10 | Marc Edelstein

Rising mortgage rates have scared off many prospective home buyers, but as we’ll learn today, it may still be a good time to buy a home. Marc Edelstein of Ross Mortgage joins Paula and Jon as one of their very first guests. Yes, interest rates have risen, but home prices have fallen. Marc walks…

If you’re a veteran in Oakland, Macomb, Wayne, or any Michigan County, and you own a home using your VA home loan benefit. Does the stack of mail above look familiar? In some instances, local veterans have reported receiving 10-12 of these letters a week. So, what are they and why are you getting so…

As I discussed last week, mortgage insurance is a necessary evil for many prospective home buyers, especially those who are first time home buyers. It is a tool which allows individuals to buy the home of their dreams even if their credit is less than perfect or their down payment is less than 20 percent. This insurance…

Title vesting is the manner in which ownership, aka title, is held on a property. Various states have various ways of holding title. For this posts purpose, we are going to concentrate on the State of Michigan. Here are the most common forms of title vesting in Michigan. Tenancy By The Entirety – Only a married…

One of the first steps in working through real estate issues in a divorce, is to determine the value of the marital home. If you and your spouse are unable to agree on the current market value(s), there are several valuation methods that can be used. Tax Assessed Value The tax assessed value is not…

For a Certified Divorce Lender, one of the most important, if not the most important goal, is ensuring our clients housing goals are met, post-decree. In order to do so, a Certified Divorce Lender must be educated in the mortgage guidelines impacted by divorce. There are several impacted, but the three most common are: Contingent Liability A jointly obligated debt in which the court…

The timing of filing a divorce petition with the court has a direct impact on mortgage financing. When a divorce petition is filed, most mortgage lenders will require either a temporary settlement agreement or final divorce settlement agreement, also known as the final decree of divorce, in order to complete and close a new mortgage application…

Maintaining your credit during divorce can sometimes be a challenge. However, understanding what impacts your credit score ahead of time can be very beneficial. Here are a few suggestions to help maintain your credit during the divorce. Communication between both parties can help avoid any miscommunication as to who is paying what bill Ask each…

Each divorce is unique and the documentation needed will vary based on the circumstances. In addition to the standard mortgage financing documents like, tax returns, W2’s/1099’s, pay stubs, and bank statements, the most common documents needed in a divorce lending situation include, but are certainly not limited to: Understanding The Divorce Decree Executed copy of the…