John Balladares's (jballadares) Blog

Mortgage and Lending - Peoples Bank
This is a list of things to steer clear of when you are seeking to obtain financing for a home. If you do any of these things, please contact your loan officer immediately. Even if you have been pre-qualified, we can help you re-qualify. 1. Don’t buy or lease an auto! Lenders look carefully at yo...
Open houses are becoming targets for thefts more often, and real estate agents are at risk of losing valuable items, as are the homeowners. As a real estate agent, you're inviting the public to a property, which is an invitation to anyone, from thieves to those who might want to harm you. A commo...
A couple of weeks ago Google rolled out a new algorithm used to calculate what shows up highest in their search engine results, and it is having a dramatic effect on real estate in particular.According to Google, 11.8% of search queries are significantly different after this not-so-subtle change ...
Loan officers and Realtors communicating and working together is important for a successful and smooth transaction. Financing is the most important part of a real estate transaction, so it is key that you encourage your loan officer and real estate agent to stay in touch throughout the process. ...
Simple logic behind this is that there have been numerous credit repair companies that used large scale disputes to unethically raise a consumer's credit score and attempt to circumvent valid items.  This is obviously only a short-term fix, and does not truly repair any credit.  Unfortunately, in...
At the beginning of 2010 new lending guidelines went into effect regarding how loan originators handle the loan process and how closing costs must be disclosed to the buyer.  One of the new rules included a nationwide standard Good Faith Estimate (GFE).  The purpose of the new Good Faith Estimate...
Only 3.5% down payment required Lower credit requirements than most programs making it easier to qualify 100% gift allowed for down payment and closing cost Allows up to 6% seller credits towards closing costs The maximum FHA loan amount is $729,750.00 ( most counties) 401K loans are not include...
Counselors working with HAMP Modification applications have a shiny new tool to use: the HOPE LoanPort, a new web portal tool. Launched by the HOPE NOW Alliance, along with HUD, this new web portal will allow counselors to collect the necessary documents from homeowners, upload the completed pack...

John Balladares

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