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Jason Dreier's Answers


Is it common practice for a borrower to deposit a large cash amount in the lenders bank account for up to 30 days to "verify assets" while the loan is being processed?
No, this does not sound reasonable or appropriate. Assets are verified by showing 60 days of an account of YOURS with the funds in it. Many direct lenders don't have the training for their loan originators necessary to know how to smoothly complete a mortgage transaction, they also in many cases...
How do I find out what my property value is?
Hi Kristi,Trulia.com also offers comparable's, if you can find a few that have sold within the last 6 months and within 1/2 mile of you with similar characteristics, spare footage, age, lot size, style etc. Then you might be able to get a better idea. You might be able to find additional relevant...
Is it possible to refinance two properties simultaneously?
I recommend that you finance the two properties at the same time.1. It gives the underwriter greater clarity on the bigger picture2. It minimizes your paper work - you only submit your paper work once.3. It reduces the inquiries on your credit report4. It should help with qualifying - Theoretically you are...
Is refinancing necessary to remove myself as co-signer from a mortgage?
Hi,I have had a few of my lenders agree to remove a co-borrower with out any re-qualification. It is at the sole discretion of who is servicing your loan. Give them a call, go up the chain if your not hearing what you want. It seems the clients I have, that wanted this to happen, and were able to structure this...
How will the fiscal cliff negotiations affect mortgage rates?
HRunner,According to most experts, it's fairly likely that the deal that is struck will most likely a "kick the can down the road" sort of solution. Whether it is a temporary or long term fix it will most likely raise interest rates for the short term, and then they should settle a bit. I...

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