FAQ – Can I use income from marijuana sales to qualify for a mortgage?

Mortgage Underwriters’ hands are tied in using income from something the Federal Government considers illegal. Yet new regulations from DC require that lenders verify and borrowers ability to pay before giving them a mortgage. For example, Washington State had nearly $212 million in marijuana sales in the second quarter of 2016, approaching the $249 million…

What is a My Community Mortgage?

According to research of the foreclosures during the past 7 years, chief among the cited reasons were lack of down payment, undisclosed debt by the buyers, reduced credit requirements, and unstable income. In response to greater accountability to Washington lenders tightened there criteria…too tight by most industry experts. Thankfully, however lenders are beginning to see…

Buying a home in Raleigh is getting tough!

In quite a few areas of the Triangle, houses are going under contract within 1-2 days of hitting the market and most of them have multiple offers on them. The inventory crunch is shaping up to be the same or worse than last year because rates seem to be rising and homeowners are still hesitant to put their homes on the market. As a result, the builders are having a field day. They can’t build them fast enough! – Justin Burleson – Raleigh-Cary Area Real Estate Broker

How to DIY Credit Repair Tips

One of the booming  cottage industries that has emerged from the Great Recession is credit repair companies. Most are by the same people who flew the sub prime mortgage industry into the ground lying to home buyers about their ability to refinance out of a high cost mortgage into a more affordable long-term mortgage in…