Desmond Primus began his financial services career in 1990 as a First Notice of Loss Claims Reporter with The Travelers Insurance Company of Hartford, CT. After holding positions in claims, operations and sales at various insurance and financial services firms, Desmond decided to change career paths by becoming a mortgage loan officer.
Since the collapse of the real estate market in 2006, many consumers in need of a mortgage loan are leery of mortgage brokers, due to reports of non-disclosure
If you are Shopping for a mortgage or looking to refinance your existing mortgage, you can make a lot of phone calls to different mortgage brokers and receive many quotes over the internet. The following report will give you the knowledge needed that will save you thousands of dollars. Read Full Story
Since the sub-prime mortgage market took a nose-dive in late 2006, the only alternative are FHA loans. FHA loans are fast becoming the new sub-prime. Below are some key guidelines:Down Payment: FHA loans are excellent for first-time home-buyers due to the low down payment. A minimum down payment of 3.5% is required.Credit History: Clients with imperfect credit are prime candidates for FHA loans. FHA underwriting guidelines are more liberal. As a rule of dumb, your client should have a credit ... Read Full Story
June 30, 2009 · Posted in Mortgage
Since the sub-prime mortgage market took a nose-dive in late 2006, the only alternative are FHA loans. FHA loans are fast becoming the new sub-prime. Below are some key guidelines:
Down Payment: FHA loans are excellent for first-time home-buyers due to the low down payment. A minimum down payment of 3.5% is required.
Credit History: Clients with imperfect credit are prime candidates for FHA loans. FHA underwriting guidelines are more l... Read Full Story
Loan Officer Interview:The loan officer will ask you a series of questions, in person or by phone to determine if you will qualify to proceed with the mortgage application process. The loan officer will ask if you had any bankruptcies, foreclosures in the past couple of years. Most lenders will not consider a loan request if the applicant recently was release from bankruptcy or foreclosure. It’s also very important to satisfy any judgements or liens before applying for a mortgage.Employ... Read Full Story
Lower Your Mortgage Payments If You Can’t RefinanceMillions of homeowners would like to lower mortgage payments but they can’t refinance, due to home values decreasing well below their current mortgage balance. The recent downturn in the housing market has caused sharp decreases in home values across the country. Some areas were hit harder than others. Others had an unexpected job lost, medical expenses or child tuition payments due, causing a financial hardship to stay current wi... Read Full Story
Getting a Mortgage Pre-approval: Do You Really Need One?Some home buyers find the house they want, sign a contract and then look for a mortgage loan. Problem: They find out later that they were declined or only qualify for a much lesser amount for their dream house! The homeowner then promptly rejects their contract. How could this have been avoided? By first getting a Getting a Mortgage Pre-approval. This saves both the homeowner and home buyer a lot of wasted time and money. Many Real Estat... Read Full Story
Today, with are so many different credit card offers available, it can be very confusing to determine which card is best for you. But before you apply for one, there are eight basic terms you should know to have a better understanding of how credit cards work. Read Full Story
June 19, 2009 · Posted in Real Estate
Attention Homeowners, Real Estate Agents and Real Estate Investors:
Sell Your Home Within 30 Days!
Problem: It’s very hard to sell your home in today’s real estate market. Homes are staying on the market for many months. The hugh inventory of houses are sitting on the market with few buyers. The tightening of credit has also locked many homebuyers out of the market. Each month your house or listing stays on the market can mean a dec... Read Full Story
How to QuicklyBoost Your Credit ScoreWant to Boost Your Credit Score to buy a house? Most people are unaware of a little known technique that could raise your credit score to qualify to by a house in a relatively short period of time. The standard approach is to remove negative items off your credit report. But that may take much longer than the following strategy.Increasing your debt to credit ratio is key to improving your credit score. But the right kind of credit is required, such as havi... Read Full Story
You might be faced with overwhelming Credit Card Debt and have not made a payment in months. Creditors are calling you on a daily basis demanding payment. Does this sound familiar? For some, a Credit Card Settlement an option. But before you decide to move forward, here are some items you might want to consider. By settling your debt, you can save up to 50% of more off the original debt amount. Because you’re reducing the amount owed, you will become debt-free much faster than if you we... Read Full Story
