Pre-paids and Reserves? What are these and what is the difference?

If you’ve ever purchased or refinanced a home then it would be safe to assume that you may have been surprised….ok, SHOCKED, at the total amount of ‘closing costs’. I bookended the term ‘closing costs’ with quotes because this term is both misused (by mortgage companies) and misinterpreted (by would-be homebuyers and refinancers as well […]

6 Steps to a Successful Mortgage Closing

In an attempt to not paint a grim picture…..I’m compelled to paint a grim picture. As forecasted in Real Estate Agent Beware! more and more ‘refinance boomer’ mortgage companies will move towards ‘purchase’ business to survive and, well, the domino of train wrecks will commence. It is because of this, my friend, that I felt led […]