J. Scott Harris – MortgageXperts.com

Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them! We close loans every day that Banks would not, or could not approve. NMLS # 375517 – Mobile 214-435-8825

Texas’ Job Growth Outpaces U.S. – Now there’s a surprise!

IT IS A GREAT TIME TO MOVE TO TEXAS!

By Bryan Pope, Associate Editor, Real Estate Center at Texas A&M University
May 5, 2015/Release No. 10-0515

COLLEGE STATION, Tex. (Real Estate Center) – The Texas economy gained 320,400 nonagricultural jobs from March 2014 to March 2015, an annual growth rate of 2.8 percent compared with 2.3 percent for the United States.

According to the latest Monthly Review of the Texas Economy, published by the Real Estate Center at Texas A&M University, the state’s nongovernment sector added 304,300 jobs, an annual growth rate of 3.2 percent compared with 2.6 percent for the nation’s private sector.

Texas’ seasonally adjusted unemployment rate fell to 4.2 percent in March 2015 from 5.3 percent in March 2014. The nation’s rate decreased from 6.6 to 5.5 percent.

All Texas industries had more jobs in March than a year ago. The state’s construction industry ranked first in job creation followed by the transportation, warehousing and utilities industry, leisure and hospitality industry, education and health services, and mining and logging.

All Texas metro areas except El Paso and Wichita Falls had more jobs. Midland ranked first in job creation, followed by Odessa, Beaumont-Port Arthur, Longview, Dallas-Plano-Irving and San Antonio-New Braunfels.

The state’s actual unemployment rate was 4.2 percent. Midland had the lowest unemployment rate followed by Amarillo, Austin-Round Rock, College Station-Bryan and Lubbock.

The complete report is available online at http://www.recenter.tamu.edu/pdf/1862.pdf.

 

You buy levitra australia should search a qualified and professional physiotherapist. Thus, it buy sildenafil australia triggers premature activation of the pancreatic digestive enzymes. The current medical approach to treating gallbladder illnesses is: prices cheapest levitra “Remove the gallbladder. I abovementioned process is interrupted due to cheap levitra canada any of the medical pharmacies. Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them!

We close loans every day that Banks would not, or could not approve.

Mortgage Expert

Mortgage Expert

J. Scott Harris
Vice President – MORTGAGE MIRACLE WORKING
NMLS #375517
Gold Financial Services, Inc.

5055 Keller Springs Road, Suite 500
Addison, TX 75001
24/7 Mobile: 214-435-8825
Secure Fax: 866-343-3688

Apply Online – www.MortgageXperts.com

Gold Financial Services, Inc.
is a division of Amcap Mortgage, Ltd. NMLS# 129122

Rapidly Increasing Home Values Pose Appraisal Problems

Lower Appraisal = Higher Downpayment

Bank

 

Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal).

In a housing market where supply is very low and demand is very high, home values increase rapidly. One major challenge in such a market is that bank appraisal. If prices are jumping, it is difficult for appraisers to find adequate comparable sales (similar houses in the neighborhood that closed recently) to defend the price when doing the appraisal for the bank. With escalating prices, the second sale might be even more difficult than the first. And now, there may be a second issue further complicating the appraisal issue. The Mortgage News Daily (MND) recently published an article titled Conservative Appraisals Increasingly Mentioned in 2015; Did Something Change? The article revealed that there was a “flurry” of comments on their website from members expressing concern about…

“…a sudden increase in appraisals reflecting market values well below what had been expected. In some cases the low appraisals had merely required the restructuring of the loan, in others they killed the deal.”

The National Association of Realtors revealed this month that 8% of the contracts that fell through over the last three months were terminated because of appraisal issues. MND decided to survey their members and ask why this sudden increase in “short” appraisals could be taking place. Here is one result of that survey:

“Almost everyone we spoke to mentioned Fannie Mae’s new Collateral Underwriter (CU).”

Collateral Underwriter provides a risk score on individual appraisals which will lead to a ranking of appraisals by risk profile, allowing lenders to identify appraisals with heightened risk of quality issues, overvaluation, and compliance violations. It went on-line on January 26. Marianne Sullivan, senior vice president of single-family business capability with Fannie Mae believes that CU is not a problem for appraisers. She claimed:

“From an appraiser perspective, one of the lender’s responsibilities has always been to review the quality of an appraiser, and they have been using various methods to do that forever. I don’t think appraisers will find this tool to be disruptive.”

However, some think that CU has caused appraisers to become too cautious with their appraised values. One mortgage professional in the MND article explained it this way:

Sildalis is a combination of tadacip cheapest viagra price with sildenafil citrate. The interesting paradox to osteoarthritis though is that inactivity can be just viagra uk click here to find out more as harmful to the joints as is overuse and joint wear. Wide range of online impotency solutions are available that is easier to grab without revealing the discount viagra identity. This is the most common concern, for which we tend to suffer from varied kinds of diseases due to infections in any part of this system, therefore, a better understanding of different issues related to menstruation and reproductive health in women. tadalafil cialis india “My personal opinion is that appraisers are being overly conservative in choosing comps because of CU. If CU questions the comps, adjustments, etc., the appraiser would have to do a lot of extra work to justify them. I had anticipated that CU would cause delays because of this extra work, but it seems that appraisers are one step ahead and are being ultra conservative, thus avoiding the extra work in the first place. I haven’t spoken to an appraiser about it; this is just my interpretation of what I am seeing.”

Ryan Lundquist, a Certified Residential Appraiser in the Sacramento area, agreed:

“One of the unintended consequences of CU may be more conservative appraisals.”

Bottom Line

We must realize that, in today’s housing market, every house must be sold twice and the second sale (to the bank’s appraiser) could be the more difficult one.

Mortgage Expert

J. Scott Harris
Vice President 
NMLS #375517
Gold Financial Services, Inc.

5055 Keller Springs Road, Suite 500
Addison, TX 75001
24/7 Mobile: 214-435-8825
Secure Fax: 866-343-3688

Gold Financial Services, Inc. is a division of Amcap Mortgage, Ltd. NMLS# 129122Apply Online – www.MortgageXperts.com

VA mortgage loans are one of the best loans available – 100% Financing to $417,000

By Amy Buttell Crane • Bankrate.com

Mortgage » VA Loans » VA Loans Offer Good Deals

Shoved aside by the hot mortgage products of recent years, Veterans Affairs mortgage loans are making a comeback and are a viable financing alternative for veterans looking to secure an attractive fixed-rate loan with little or no money down.

VA-Loan

The loans, guaranteed by the federal government, are available through local banks and mortgage brokers around the country.

If you’re an honorably discharged veteran, are currently serving on active duty or have completed a total of six years of service in the National Guard or selected reserves, you are eligible for a loan. Certain surviving spouses of veterans are also eligible.

Loan limits are $417,000 in most areas of the country but are higher in certain regions.

“We are seeing a lot of activity in VA loans because there just aren’t the alternatives for no-money-down loans that there used to be,” says A.W. Pickel III, CEO of LeaderOne Financial, a mortgage broker based in Lenexa, Kan.

VA guaranteed loans waive the requirement of private mortgage insurance most lenders require for loans with down payments of less than 20 percent. Sellers may also assume the 3 percent to 4 percent closing and administrative costs required as part of the loan and build it into the home’s purchase price, making these loans even more attractive. The loans are only available for owner-occupied homes.

The process to obtain a VA loan can take longer than with a conventional loan, mortgage brokers note, which was one factor in their declining popularity versus other products.

“In the past, many Realtors have steered borrowers away from government loans, including VA and FHA loans, because of the additional documentation required as part of the appraisal and inspection process,” says Steve Jacobson, CEO of Fairway Independent Mortgage Brokers.

Get the tab available online in cheapest price. ordering levitra from canada But proper levitra free shipping diagnosis, diet control and treatment are necessary. Some women want to keep uterus but may not get an erection due to some common causes like performance anxiety, depression, cialis pfizer stress, medicinal effects, hormonal changes, medical issues, etc. The blood also flows to the vagina and clitoris, making the whole sexual experience that much more worthwhile as well buy cheap levitra try my pharmacy shop now as pleasurable. “There was a perception that these government-backed loans got more scrutiny and that they take longer to close.”

While the process may take longer than a conventional loan, the more favorable terms are worth it, and there are steps you can take to speed it along, such as obtaining your certificate of eligibility before you sign an agreement to purchase a home and ensuring that your purchase price is comparable to other similar homes in the area.

Read more: http://www.bankrate.com/finance/mortgages/va-loans-offer-good-deals-1.aspx#ixzz3YAmJB5i8
Follow us: @Bankrate on Twitter | Bankrate on Facebook

J. Scott Harris
Vice President
NMLS #375517
Gold Financial Services, Inc.

5055 Keller Springs Road, Suite 500
Addison, TX 75001
24/7 Mobile: 214-435-8825
Secure Fax: 866-343-3688

Apply Online – www.MortgageXperts.com
Gold Financial Services, Inc. is a division of Amcap Mortgage, Ltd. NMLS# 129122

FHA Back to Work Program. We are one of the few Lenders who have actually have closed these loans!

FHA Back to Work Program

The Federal Housing Administration’s Back to Work – Extenuating Circumstances mortgage loan program shortens the waiting period to buy a home to as little as one year after you’ve had a bankruptcy, foreclosure, deed in lieu of foreclosure, or short sale. You do need to know the rules and guidelines in order to qualify.

Do You Qualify?

FHA will consider you for eligibility if you had a financial hardship in the past but can now document the following circumstances about yourself:

  1. You meet FHA loan requirements
  2. You can document the mortgage or credit problems resulted from a financial hardship
  3. You have re-established a responsible credit history
  4. You have completed HUD-approved housing counseling

A lender will first have to determine if you meet the FHA loan requirements before you can apply for a FHA loan under the Back to Work program. You will need to explain how the financial hardship was something beyond your control that reduced your income or caused you to lose employment. If your household income dropped by 20% or more for at least six months, it may count for this type of financial hardship.

To re-establish credit you must have a 12 month record of on-time rental housing payments with no delinquencies, and not have been 30 days late on more than one non-housing loan payment. If you still have any open collection or judgment accounts, then a “capacity analysis” will be done to see if you can repay those creditors.

Here is the HUD Mortgagee Letter outlining the Rules:

http://portal.hud.gov/hudportal/documents/huddoc?id=13-26ml.pdf

Please complete this contact sheet and I will can to discuss your qualification for this program.


It is therefore important to not http://valsonindia.com/wp-content/uploads/2017/08/2016-2017-notice.pdf cialis prices feel ashamed of discussing your problem with your doctor. You can online viagra uk buy kamagra oral jelly online by going through the services they are offering. Kamagra http://valsonindia.com/about-us/infrastructure/ cialis sale Tablets ensure smooth and hard erections. This is simply due to the fact that a person needs to think before/while/after taking caverta pills such as- it should be taken by the men above the age of 40 and experience from failure of levitra professional samples libido or low desire for lovemaking is linked to lack or poor availability of testosterone.

If it looks like you are eligible, YOU MUST DO THIS 1st.

To start an application with a FHA-lender you must first take a “Pre-Purchase Counseling” course with a HUD approved housing counseling agency 30 days before you start the application. A certified counselor will assess your debt, ability to afford the mortgage, features of the mortgage, explain mortgage insurance and the loan application process. Springboard is a HUD-approved housing counseling agency, and can help you make sure you have done everything you need to do to access the “Back to Work–Extenuating Circumstances” program. You will need to complete your counseling at least 30 days before you apply for a new FHA mortgage. Your certificate is valid for 6 months.

 

Once the course is completed, we will begin your complete loan application and Pre-Approval.

Call Us, We Can Help!

J. Scott Harris

Vice President – NMLS #375517
Gold Financial Services, Inc.

5055 Keller Springs Road, Suite 500
Addison, TX 75001
24/7 Mobile: 214-435-8825
Secure Fax: 866-343-3688

Apply Online – www.MortgageXperts.com

Gold Financial Services, Inc. is a division of Amcap Mortgage, Ltd. NMLS# 129122

Home Sales Skyrocketing!!

Home Sales Skyrocketing!! | Simplifying The Market

Yesterday, the National Association of Realtors (NAR) released their Existing Home Sales Report. The numbers shocked many analysts as they revealed a 10.4% increase over the same month last year.

This is the highest number of sales since September 2013. Sales have increased year-over-year for six consecutive months and the 10.4% increase is the highest annual increase since August 2013. March’s sales increase was the largest monthly increase since December 2010.

Lawrence Yun, NAR’s chief economist, explained:

“After a quiet start to the year, sales activity picked up greatly throughout the country in March. The combination of low interest rates and the ongoing stability in the job market is improving buyer confidence and finally releasing some of the sizable pent-up demand that accumulated in recent years.”

Here is a graph showing home sales so far this year:
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Existing Home Sales | Simplifying The Market

An increase in sales occurred in every region of the country even the Northeast that experienced one of their roughest winters in years:

Existing Home Sales by Region | Simplifying The Market

Bottom Line

Houses are flying off the shelves. This may be the perfect time to sell yours.

J. Scott Harris is named a Five Star award winner for the 3rd year in a row!

We are pleased to announce that J. Scott Harris has won the 2015 Five Star Mortgage Professional award for the 3rd year in a row!

By earning this exclusive honor, Scott has proven his commitment to his profession and to his clients.

Five Star Professional partnered with Texas Monthly Magazine to recognize a select group of Dallas Forth Worth Area Mortgage Professionals who provide exceptional service to their clients.

This group of outstanding DFW Mortgage Professionals represents fewer than 2% of all Mortgage Professionals in the market and is featured in the June issue of Texas Monthly Magazine.

Emotional trauma i.e. guilt, shame or fear surrounding sex lowest price for levitra Depression Addictions or substance abuse. Lots of men are suffering from the problem buy viagra line of over masturbation. The people suffering cialis professional price from this disease think with significant occupational dysfunction. The lesson is taught over a virtual web-based user interface, allowing the college mouthsofthesouth.com cheap viagra for women student to just work at his / her own pace and frequency. Mortgage Professionals are measured using an objective, in-depth research methodology with significant focus on customer feedback and overall satisfaction.

Congratulations once again to Scott and all of our 2015 Five Star Mortgage Professionals!

Sincerely,
Dan Zdon
CEO, Five Star Professional

Can you finance more than 5 properties? Most banks say no, but we can do them.

In 2009, Fannie Mae rolled back a mortgage rule that prevented real estate investors from financing more than 4 properties at once. At the time, investors were limited to 4 properties financed, which included their primary residence.

Today, the maximum number of allowable, simultaneously financed properties is 10. You wouldn’t know it, though — few banks actually offer the program.

THE 5-10 FINANCED PROPERTIES PROGRAM CRITERIA

To finance a home via Fannie Mae’s 5-10 Properties program, the following criteria must be met with no exception :

  • Own between 5 and 10 residential properties, each with financing attached
  • Purchase : 25% down payment is required for 1-unit; 30 percent is required for 2-4 units
  • Refinance : 30% equity is required for all property types (1-, 2-, 3-, or 4-unit)
  • Minimum credit score must be 720
  • There must not be any mortgage lates within the prior 12 months on any mortgage
  • There must be no bankruptcies or foreclosures in the prior 7 years
  • There must be 2 years of tax returns which rental income from all rental properties
  • There must be 6 months of PITI reserves on each of the financed properties

The important thing for remembering in such cases is that, in case, something is cheap cialis 20mg new, make sure you discuss it with your partner beforehand and it can easily help to temper your nerves. Side effects: chest pain, uneven heartbeats; Diarrhea that is watery or bloody; problems with your hearing; or Severe skin reaction — fever, sore throat, swelling in face or tongue, burning in tablet viagra eyes, skin pain, followed by a red or purple skin rash that spreads. viagra sans prescription canada Mike Massaro and Nicole Briscoe will co-host ESPNEWS’ coverage of NASCAR Media Day on Thursday, Feb. 10, at noon, and conduct exclusive driver interviews from Daytona for the three-hour telecast. This is the reason we engaged ourselves in developing scientific measures to combat these problems. cheap generic levitra
 

Call or email us!

Scott@JScottHarris.com or 214 435 8825

 

Client’s Credit Score Jumps after 14 days in our Credit Coaching program – 628 to 656 – Now we just need the perfect house!

Credit Score Up
Most people do not realize their credit scores go up and down each month with the balances of their credit cards.  If they are maxed out, the score goes lower.

If the balance is over the credit limit, they go MUCH lower.

This happy client was already approved with Gold Financial at 628 credit score.

But, we recommend 2 small tasks that would quickly raise her score and give her a lower interest rate. (Sorry competitors, no secrets revealed here)

FHA loans under 640 get more expensive.  Many Banks and Mortgage Bankers will not even do them.

The credit score improvement for this buyer either lowers the rate by .25% over the life of the loan or saves 1.00% in fees at closing.

On a $200,000 loan, that is $2000 in today’s dollars.

We always work to get our buyers the best deal!

Call us 1st to avoid mortgage problems, Call us 2nd to SOLVE them.J. Scott Harris
Vice President – Mortgage Miracle Working
NMLS #375517
Gold Financial Services, Inc.
Closing FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

5055 Keller Springs Road, Suite 500
Addison, TX 75001
24/7 Mobile: 214-435-8825
Secure Fax: 866-343-3688

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Gold Financial Services, Inc. is a division of Amcap Mortgage, Ltd. NMLS# 129122

 

 

 

Mortgage Forgiveness Tax Relief Act headed to President’s Desk

Great News for Distressed Homeowners!

As reported earlier this month, without this provision, the IRS would have taxed homeowners who lost their homes to foreclosure or short sale on the debt forgiveness by the lenders.

http://www.jscottharris.com/the-irs-wants-to-tax-people-who-have-lost-their-home-to-foreclosure/

foreclosed home

Realtors® Applaud Final Passage of Legislation to Extend Key Real Estate Tax Provisions

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WASHINGTON (December 17, 2014) – The following is a statement by National Association of Realtors® President Chris Polychron:

“The package of tax extensions approved by the U.S. House and Senate, and headed to the President’s desk for signature, includes important provisions that will help distressed homeowners and commercial property investors with transactions made during 2014. NAR applauds Congressional leaders in both chambers for their effort to pass this legislation before adjournment.

“Realtors® strongly supported the bipartisan Mortgage Forgiveness Tax Relief Act, which was included in the package to prevent underwater borrowers from paying taxes on any mortgage debt forgiven or cancelled by a lender in a workout or after their home was sold for less money than was owed. We are grateful to Sens. Debbie Stabenow, D-Mich., and Dean Heller, R-Nev., and Reps. Tom Reed, R-N.Y., and Charlie Rangel, D-N.Y., for championing the provision.

Source: NAR 12-17-2014

APPROVED – 2 months in our Credit Coaching program – 545 to 600 – Now only 30 day to closing!

rejected-and-approved-rubber-stamp

So many people fall into what I call the “credit drop out” category.

Bad things happen to good people.  But, many people do not get up and dust them selves off.  They just stay down, believing they are stuck as a renter and just pay cash for everything.

This particular buyer followed 2 simple recommendations and spent less that $500.  She still has plenty saved for her down payment.

Rarely do we recommend credit repair.  I recommend keeping the past problems in the past.  We do not require collections or charge-offs to be paid.

Paying an old bad debt can ACTUALLY HURT THEIR CREDIT SCORE.

If someone is not rebuilding new credit, they lose out on 30% of their credit score points.

REALTORS & BUILDERS – Give us your motivated buyers even if scores in the low 500’s.  Usually, we will give them back to you pre-approved and ready to buy before their next lease is up.

 

Call us 1st to avoid mortgage problems, Call us 2nd to SOLVE them.

J. Scott Harris
Vice President – Mortgage Miracle Working
NMLS #375517
Gold Financial Services, Inc.
Closing FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

5055 Keller Springs Road, Suite 500
Addison, TX 75001
24/7 Mobile: 214-435-8825
Secure Fax: 866-343-3688

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Gold Financial Services, Inc. is a division of Amcap Mortgage, Ltd. NMLS# 129122