by torrenslawgroup | Jul 3, 2021 | acceleration, Avoid Mortgage with a Balloon, Balloon rate Mortgages, Blog, Foreclosure, Mortgages:, New Homes, Real Estate Foreclosure Attorney
We review a lot of mortgage loan documents in our law practice. One problem we see a lot is the infamous balloon. In a mortgage loan, a balloon means that the entire mortgage balance comes due on a specific date. If you don’t pay it immediately, you can get foreclosed...
by ttdev | Jul 2, 2021 | Blog, Florida, Florida Real Estate, Foreclosure Defense against the bank, Mortgages:, Real Estate Foreclosure Attorney
I have been working full-time as a foreclosure defense lawyer since January 2013 and what a journey it has been. We have had the privilege to save hundreds of homes so far in our practice. What a joy that is. While the daily grind of the practice surely can be...
by torrenslawgroup | Jun 17, 2021 | Mortgages:
As this video explains, Federal laws put into effect in 2014 and supervised by the Consumer Financial Protection Bureau define lending practices and loan terms for a new category called “Qualified Mortgages.” They provide stable loan features for consumers and...
by torrenslawgroup | Jun 17, 2021 | Mortgages:
What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over time. It’s a longer-term view that goes beyond immediate income, debt and...
by torrenslawgroup | Jun 17, 2021 | Mortgages:
Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to repay a loan. Like the video says: debts are existing financial commitments; a car payment is a debt a grocery bill is not. To calculate your...
by torrenslawgroup | Jun 15, 2021 | Mortgages:
As this video explains, Federal laws put into effect in 2014 and supervised by the Consumer Financial Protection Bureau define lending practices and loan terms for a new category called “Qualified Mortgages.” They provide stable loan features for consumers and...
