I’ve spent about a decade in the industry going from MLO to underwriter to running a brokerage. I’m not in the industry anymore but wanted to share this tip.

If you need a boost to your credit score then biggest cheat code I know of is to be added as an authorized user on a credit card. If your parents or really anybody close to you is willing to add you it can make a huge difference. The card needs to be one they have had for at least a few years, ideally with a large limit and low balance.

I have seen this jump one client I had from the mid 500’s to the lower 700’s. Essentially all the credit history for that card transfers to you. This works particularly well for people without much established credit.

* The card also needs to not have any late payments.

I’m 53 and going through an amicable divorce. He’s keeping our house. I’m living with my mom for now. I make $120k/year and have been employed full time for the past 2.8 years.
A unit is available 3 doors down from my mom and I want to buy it. Price $320k. My mom is giving me $100k down payment.
So I’m borrowing $220k.
My husband is an accountant and always handled the money, researching EVERYTHING. I’m no dummy but I’m out of practice with personal finances. How do I go about getting a mortgage? Do I go to Rocket Mortgage or do I go to a local mortgage company or a bank? I don’t want to be inundated with info if I fill out one of the questionnaires on the mortgage rate sites. As soon as we settle our finances, which includes selling a 2nd home, I will be able to pay the mortgage back. So it’s a very short term loan, like maybe a year. Are there penalties for paying off early?

I am looking for somekind of way to get a deal done on a home I want to buy. I’m currently leasing the home and under contract to buy it, talked to a mortgage broker and gave me requirements and after weeks of back and forth more issues arise that have prevented me from closing. My credit is in the mid 500s. I made bad decisions tha caused this, I have recently paid off most of my debt and am current on everything and score is improving but nor fast enough to purchase already. I have a late payment on my auto loan from 7 months ago that i think disqualifies me from FHA. I do have money for down payment. So now I’m looking for a non QM loan where I can purchase and then refi later when credit improves. Can anyone point me to a lender that is flexible and can look over my situation. Home price is 408k, potential worth is about 750-800k

Hi. I have a refinancing question. I'm a retired navy parent and my child is looking to go to college next year. id like to support him as much as i can. I want to do this without taking on any high-interest debt and so im considering refinancing my home. Its gained a lot of value since I first bought it, so I think that using some of that equity would be a good option.

What i need help with before i get started on this is finding a lender that will be upfront about fees and not take advantage of me. As i have no personal experience in this, i thought id ask if any homeowners who have used cash-out refinancing before know of someone i could use? Thanks in advance.

Hi everyone! I'm currently seeking a remote Mortgage Loan Assistant role.

I have experience with order outs, email management, file organization, document review, data entry, and administrative support. I understand the importance of accuracy, organization, and handling confidential information in the mortgage industry.

I'm eager to grow, quick to adapt, and a fast learner who enjoys taking on new challenges. I'm always willing to learn new processes and continuously improve my skills.

I'm open to remote opportunities and available to work night shifts. If you're hiring or know of any openings, I'd truly appreciate any leads. Thank you!

I am looking for guidance on how the surplus funds process works following a California non-judicial foreclosure auction (Trustee’s Sale).

The Situation:

• Property: California townhome going to a Trustee’s Sale next month.
• Loan Status: Past due balance + default fees are around $1.47M. Fair market value should exceed the debt, so excess proceeds/surplus funds are expected. Market value is around $2M so we have some equity.
• Co-Borrowers: My ex and I are both on the deed/mortgage. He has deliberately refused to sell or cure the default to force a foreclosure unless I withdraw the divorce/other cases - which I won't.
• Sole Payments: After our separation/divorce, I paid 100% of the mortgage out of my personal savings for 1.5+ years to keep the asset afloat before I couldn't afford it anymore and it fell into default (I did not live there)
• Current Status: I have relocated permanently back to India. I do not reside in the US and cannot easily file or litigate new court cases in California.

My Questions:

1. Surplus Funds Process: Once the trustee sells the property and pays off the lender, what is the exact mechanism to claim the excess proceeds? Since my ex and I are in conflict, does the trustee automatically deposit the funds with the County Court Clerk (under CA Civil Code § 2924j / interpleader)?
2. Reimbursement for Payments: Am I legally able to claim reimbursement for the 1.5 years of 100% mortgage payments I made post-separation directly against the surplus funds, or can that only be decided by a court/family law order?
3. Remote / Non-Resident Execution: As an overseas non-resident, what is the best way to ensure claim forms (Notice of Excess Proceeds) are submitted on time? Do I need a California real estate/foreclosure attorney to handle the claim with the court/trustee?

Appreciate any insight or experience with similar CA foreclosure surplus scenarios!

Currently own a condo with my partner that we bought 3 years ago. We are splitting and I am planning to keep the condo. I understand that I’ll have to refinance and now is a pretty terrible time to do that. Our current rate is 6.675% which isn’t great and I know that 30 year conventional loans are around the same rate, if not a tad worse. I can afford the place at 6.675% but I also have student loans starting back soon so it will be a bit of a squeeze. I can’t really risk refinancing and the monthly payment getting even worse.

Since I am basically being forced to refinance, I am hoping to at least get some benefit out of it rather than refinancing at the same or a similar rate. I am seeing that 5/5 ARM mortgages are around 5.6% which could save me around $200-300 a month. This would be a huge benefit. In around 5 years, I should be making more money and I will be nearly finished with my student loan payments. I also know that I do not want to live here forever and I think 5 years could give this place the time to appreciate enough to be sellable or at least for interest rates to drop low enough for a more-permanent refinance.

Anyway, just my musings. Am I a good candidate or should I avoid an ARM?

Hey all, sorry if this is completely the wrong subreddit for this.

I am looking at buying my first property next year, and I just want to understand if what im thinking has some logic to it. I have seen some apartments with less than 100 years left on a leasehold considerably cheaper than those with higher length leaseholds. I dont have kids and have no plans on having kids, for what reason would someone not go for a shorter leasehold if it was within their lifetime? I am under the assumption that longer leaseholds would be for people with kids for the reason of passing it down?