Dodd-Frank 2014 Is Here

January 14th ushered in the new Dodd-Frank provisions for mortgage loans, bringing about significant changes that will eventually change the mortgage landscape. Below are some questions regarding some of the provisions of this new law. I’m hearing about ATR and QM mortgages.  What in the world are those?   As with any good government regulation, you have to give your...

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15-year vs. 30-year mortgage — which is better?

With interest rates again touching on 70+year lows, many homeowners are considering refinancing. Mark Wells at Preferred Financial addresses the often-asked question of whether a 15-year mortgage is better than a 30-year mortgage. I know that I will be paying more interest with the 30-year mortgage. How much more?  That will differ according to your loan size, but for a...

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Trusts, LLC’s and Title to Real Estate

At Preferred Financial Services, Mark Wells often receives questions regarding how real estate title can be held.  Here, he addresses questions about Trusts, corporations, and LLC’s. Can I purchase an investment property and hold the property in an LLC or corporation for liability purposes?  Fannie Mae and Freddie Mac do not allow for their loans to be closed in the...

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