Banks have a lot of money … but they don't have enough money to provide all the funding for loans that they need in order to be profitable without the help of the larger secondary market. The secondary market is where the primary lender can
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Filed under: Charleston new homes, HUD 1, bank property, mortgage brokers, charleston real estate, charleston home sales, charleston market, mortgages, loans, FHA, VA, PMI
With all the talk in the media about defaults and foreclosures, it’s not a bad idea to have an understanding of how loans are issued and how banks are protected when they issue loans. I t is getting harder to get a loan – even for well qualified
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Filed under: Buyer Information, closing statement, HUD 1, bank property, lenders, mortgage brokers, charleston real estate, charleston mls, charleston home sales, charleston market, charleston homes for sale, mortgages, FHA, VA, PMI
Let’s first eliminate a common misunderstanding. Banks do not GIVE mortgages. If you have a home with a mortgage, the bank owns the mortgage. How did they get it? You GAVE it to them. Most people say that they are going to get a mortgage when in
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Filed under: Real Estate, Buyer Information, HUD 1, bank property, lenders, mortgage brokers, charleston mls, charleston home sales, charleston market, charleston homes for sale, mortgages, loans
I was involved in the situation recently that illustrates how important it really is to use the right lender. If you have ever been under the impression that a pre-approval letter is a guarantee that a lender will issue a loan, read on. Two months ago
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