Wisconsin, Illinois & Texas Mortgages

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Mortgage and Lending - Guaranteed Rate NMLS #2611 - NMLS #222026
Helping You Obtain A Mortgage AND Understand It Too!
      Did you know buried in last September's Small Business Jobs Act of 2010 are new 1099 rules for owners of rental real estate?  For the 2011 tax year, the IRS will consider owning 1 or more rental  properties “a business” for purposes of the 1099 requirements.    This means property owners mu...
      Most Loan Officers know & understand that the maximum # of properties any one person can finance = 4 properties.  This includes the borrower's Primary Residence.    There's a new update to the Rules. (August 2011)   Now up to 10 properties total can be FINANCED.    I have updated the detail...
    Different Ways to Hold Title on Real Property There are different ways to hold title to real property and each method has its advantages and disadvantages.  With each example, it is suggested that you contact an attorney or your estate planner to make sure that the way you hold title is appro...
    Fees for title insurance policies are often the largest component of the closing costs for home buyers. A standard policy protects the insured against one of the many title problems that can hinder the transfer of a property.  A one-time premium safeguards the property up to the amount of the...
    We check our physical health, so why not our financial heath?  A mortgage checkup is easy, FREE and has the potential to save you hundreds of dollars monthly.  It can also eliminate the stress that comes with life changes.  Contrary to belief, mortgages are not "One Size Fits All."  Mortgage ...
The Teacher A+ Program requires at least one (1) borrower must be a full-time employee as described below: An employee of an accredited or state recognized private or public school A certified teacher or administrator in an education agency An employee of a post-secondary level educational insti...
    Foreclosures are on the rise, negative equity is in full force and short sales are becoming increasingly popular.  In this ever changing real estate environment, it is important to know the CURRENT lending rules.  I have put together a chart reflecting the most recent Fannie Mae, FHA and VA G...
June 2009- The updated Truth-In-Lending Rules apply if you quote down payments, payments, interest rates or points. But wait, there’s more! These rules apply to all forms of advertising, including email blasts, flyers that you pass out at apartment buildings, TV & radio & direct mail! They apply ...
The FHA Loan has had MANY changes since 2010. I am a Mortgage Lender and receive guideline updates daily. I know the time it takes ME to stay on top of the changes. So, I can only imagine how difficult it is for a Realtor. Subscribe to my blog..... I will post guideline updates to keep you infor...
      Don't you just love the feeling you get when you get a surprise delivery at work?  The sound of YOUR name being called is music to your ears.  How did the gift make you feel?  Light & Happy? Smiling Ear To Ear? Were You Surprised By The Sender?  Was Your Heart Racing?  Did You Strut Around ...

Lora Willms

Mortgage Loans in Illinois, Wisconsin & Texas
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