One of the most common cause of foreclosure is misstated or overstated income. Since the mortgage meltdown of 2008, and because of increased accountability to Washington, lenders are now required to take extra steps to verify that borrowers have the ability to pay.
After a few weeks of the multiple times per day barrage of phone calls from Bank of America I attempted to resolve this by calling them myself. The colossal comedy of incompetence a person has to suffer in order to get a straight answer from Bank of America is deplorable! As a Mortgage Loan Officer with nearly 15 years of experience speaking the language of mortgage lenders I can only imagine how impossible this experience is to someone without similar experience.
ContentsATTENTION RESIDENTS OF RALEIGH& SURROUNDING AREASFEDERAL EMPLOYEE ELIGIBILITY PROGRAMATTENTION RESIDENTS OF RALEIGH & SURROUNDING AREAS FEDERAL EMPLOYEE ELIGIBILITY PROGRAM
In April I wrote about a bill introduced in the North Carolina General Assembly HB/485 that I dubbed Cash For Contractors. The sole purpose of the bill was to reward home buyers of a newly constructed home in North Carolina with a $10,000 state tax credit. READ MORE ABOUT HB/485 BILL HERE It appears that there is…