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30 days, if you have the property already.

Once a complete workout package* has been received, the turnaround time on a decision is approximately 30 days. If the workout package was not complete, we will send a letter requesting the missing documentation and provide a deadline for receipt of the missing items. We cannot complete our evaluation until we receive a complete workout package.

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Q: What is the turn around time when you apply for a mortgage?
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What would the best home loan mortgage rate be in Georgia?

It appears that the going rate for a mortgage loan in Georgia, would be around an average of 4.00 percent. At the height of the economic crash in or around 2008, the homes in Georgia were still very affordable to buy. At that same time it was nearly impossible to purchase a home in most states. Surprisingly a lot was speared the down turn.


How can you get out of a reverse mortgage?

You can refinance out of a reverse mortgage at any time, there is no prepayment penalty. you can also sell whenever you want and move. Any equity remaining will be yours to keep. If there is negative equity in the home you can turn it over to the lender and will not face personal recourse against you or your assets provided the reverse mortgage is a HECM reverse mortgage insured by FHA- most are.


How can landlord hold mortgage to tenant?

A landlord only collects rent from a tenant, not mortgage payments. If the landlord then holds a mortgage for the tenant, then they are no longer a landlord, rather, a mortgage holder, like a financial institution. There are many cases where the tenant has an option to buy the home, and many terms are discussed and agreed thereto. Landlords can turn into mortgage holders. Landlords can evict, but mortgage holders can foreclose-- two different types of court proceedings.


What type of financing is a reversible mortgage?

Reversible mortgage is a type of financing that allows you to turn the equity in your home into cash. As long as you continue to live in your home, you will never need to pay the money back.


Is Mortgage Protection Life Insurance a good idea?

Mortgage Protection Life Insurance is a good idea if you want to protect your mortgage. It pays the outstanding balance of your mortgage if the mortgagor (insured person) dies. Mortgage protection life insurance coverage is usually in the form of decreasing term insurance, with the amount of coverage decreasing as the outstanding mortgage debt decreases. Usually, the proceeds of the mortgage protection life insurance are paid to the beneficiary, which is the mortgage company holding the mortgage loan. Some people choose instead to buy level term life insurance in the amount of the mortgage, and the benefits are paid to the insured's beneficiary (family member), who in turn can use the proceeds for any reason, including to pay the mortgage.

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