Underwriting Tip – Bankruptcy Waiting Periods – FHA

A Chapter 13 bankruptcy does not disqualify a borrower from obtaining an FHA-insured mortgage, provided that the lender documents that one year of the pay-out period under the bankruptcy has elapsed the borrower’s payment performance has been satisfactory and all required payments have been made on time, and the borrower has received written permission from bankruptcy…

The Raleigh Mortgage Guy is a CLEAR HERO!

Because I am an existing CLEAR customer I am thrilled to be chosen as Raleigh’s CLEAR Hero because it gives me the chance to let others discover for free how awesome it can be to surf the net on the go at 4G speeds. Now is probably a good time to let you know that although I am not being paid to say this I am being given the CLEAR SPOT to use without charge for the next 6 months as part of the CLEAR HERO program.

Two Raleigh Area Banks on the ropes

Two banks that have begun to demonstrate the tell-tale stress signs of banks that banks who eventually are closed by the Fed typically demonstrate; Four Oaks Bank & Gateway Bank (Hampton Road Bank). Both Banks are sustaining significant losses in their real estate loan portfolios.  Four Oaks signed an agreement with the Feds to tighten…