GRH USDA mortgage program | MD, VA, DE, FL, more..
Some key features of this program include:
-  No private mortgage insurance (pmi).  This is huge!
Also, VA loans have a funding fee, and this program has a Guaranteed Fee that can also be financed into the loan.
- 6% seller help/credit is allowed
- No minimum contribution from your own funds.  FHA has a 3.5% downpayment requirement and your typical conventional loan requires cash reserves.  This program requires neither.
- This program offers a fixed rate option for a one unit, primary residence.  Maximum loan amount is $417,000. 

See if your property is eligible here

     Contact me to discuss this program and get you qualified.
888-475-0700, Bill Mulligan
 

Virginia closing costs for a purchase and refinance
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Virginia title fees & insurance calculator

 Rate for regular first Deed of Trust title insurance shall be per thousand:

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If the amount of insurance desired under the loan policy is in excess of the regular owner’s policy or loan policy, the excess shall be computed at the regular rates under the applicable bracket or brackets.

Debt Relief | Debt reduction | Debt consolidation
These programs are very popular right now.  Odds are you’ve heard or seen a commercial for them.  Choice Title, Inc. and Debt Relief Center, Inc. offer you a debt settlement option, and we will be happy to discuss a game plan to help you.
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What is DEBT RELIEF?
Debt relief is a way to actually get out of debt rather than simply keeping it at bay.  We renegotiate your debt with your creditors in order to minimize what you owe.  Generally, your overall debt can be reduced from 40-55%.  You can lower your payments from what you pay now AND be completely out of debt in 4 years or fewer.
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How does DEBT RELIEF work?
In this market, many people have overwhelming credit card debt. Creditors who lend you this money are exposed to billions and billions of dollars and they are counting on collecting.  When you are unable to pay your bills, it gets the attention of the creditors.  They start to worry, “Am I going to get paid?” What are the creditors options, going to a collection agency?  Collection agencies only get ten cents on the dollar.  Working with debt relief they get much more than that.  We simply pool many people with similar debt and package it together.  We then offer to settle the debt for much less than what is actually owed.   When the debt of thousands is pooled together, they are much more apt to make a concession.  After all, they want to get as much money as possible of what is owed to them.
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What are the RISKS OF DEBT RELIEF?
You might be thinking that this seems too easy.  Why shouldn’t I just call up my credit card company and tell them I want to renegotiate what I owe!  Well, if you’re currently paying your bills on time, the creditors have no reason to renegotiate with you.  The only way they start to listen is if you have NOT been making your payments…and even then, they want to offer you near the discount that a larger relief company can offer.   **I am not encouraging you to stop making payments. In fact, i recommend you do everything possible to pay your bills on time and avoid a Debt settlement/relief program.  Once you have exhausted your options, only then am I suggesting you consider this debt program.  Being late on or missing payments is frowned upon.  Creditors will report this to the credit bureaus and it will show up on your credit report.  Your scores will definitely go down for a while.   
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What are the BENEFITS OF DEBT RELIEF?
While your scores may go down for a while, it’s much better AND CHEAPER than declaring bankruptcy.  Bankruptcy will stick with you for SEVEN+ years and tarnish your ability to buy a home for THREE YEARS.  If you are having great difficulty with your bills currently, what would it gain you to keep your current credit scores intact?  The answer: Not much.  Good credit allows you the opportunity to gain more credit for things you’ve already proven you can’t afford.  What’s the point of that? Have you ever noticed that when you make the minimum payments that your balance barely declines?  Debt relief will eliminate your debt.  It will also be done by paying less than what you pay now.  So not only do you get instant relief on your current monthly outlay, but your debt is eliminated.
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I’m available to talk with you. 
Contact me today to learn more about whether this makes sense for you.
888-475-0700 x139, bobkearns@choicefinance.net
     Bob Kearns of Choice Finance

What is Debt Relief?
Current buzz words gaining popularity right now are the terms for the debt settlement programs out there.

“You Didn’t Get Into this Problem Overnight and We Can’t Fix the problem Overnight but…”
If you don’t take that first step what are you going to do?  Most likely, you are making minimum payments on your credit card debt and you don’t have the equity to consolidate your credit card debt into your mortgage.. or you currently rent.   
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Will your credit score go down initially by doing credit card relief…YES.   Should this tool be used as a last option…In my opinion yes.  But my guess is that many of you who read this are at that point.  Don’t put off the recognition that you need help.  The quicker you take this step, the quicker your credit can get better.  Your credit will reflect that this debt has been charged off, but it is not a bankruptcy or consumer credit counseling and is not viewed nearly as harshly by potential credit sources in the future.  Bankruptcy usually costs around $2,500…there is no upfront fee for credit card relief.  It is included in your monthly payment. 
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If you stick to the program and work with the counselors, your debt will be repaid in less than 4 years and your credit will be on the mend in months not years.   You can exit the program at any time and have total access to your funds.  This is definitely not for everyone, but if you think you are a candidate, you probably are.  Lets take a look and talk about it.  That is the first step. 

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Learn more about this Debt Relief program here:
MD VA DC Debt Relief, settlement
Post to this blog, email us,
or call 888-475-0700
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Qualifying with rental income
If you are qualifying a borrower with rental income from their investment properties, you must use what is declared on their tax returns as opposed to what their lease states.  The only time you can use the income from a lease is if the property was acquired subsequent to filing and would therefore not appear on their tax returns.  If this is the case, be prepared to show bank statements with regular rent deposits. 
If qualifying using a tax return, use this method only.
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Take the net profit (or loss) and add back in the following deductions: 
·         Depreciation
·         Mortgage interest
·         Property taxes
·         Insurance
·         HOA payments
·         One-time large repairs (be careful with this one… it has to be sizably larger than the previous year to count) 
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** Most of the time, you will have to average the last two years’ tax returns for the allowable monthly rent, but occasionally one year.

** Also, if you take rental income directly off the tax return, you do not have to use a 25% vacancy factor.  Show 0% as the vacancy factor.

     Alex Echeandia, Choice Finance