They usually ask [ is so and so employeed and for how long ] they may look in the phone book to see if the business is real and varify the address and phone number.
Income is done through pay stubs, or tax statements scedule C or 6 to 24 months personal bank statements [ deposits added together divided by 6,12 or 24 months is the income ] Business the same minus 25% to 50%.
If the loan is stated they ask no questions about income.
If it is no doc they ask no questions about empoyment.
Mortgage Direct offers Mortgage Loans and Reverse Mortgage Loans. Direct Mortgage contracts with hundreds of lenders to find you the best rate. The one advantage of an online Mortgage company is that you get your request results immediately. Applications are down online and there is even a Live Chat available if your have questions.
Refinancing a mortgage can usually be a very simple process as long as you have the correct information and you are working with a mortgage company that communicates with you effectively and has all the information you need. Generally, the process starts with filing an application with a mortgage company to refinance, known as the per-approval process. On the application, you will include information such as employment and income, assets, and credit history. After filing the application, the mortgage company will verify and check through all the information you provided to determine whether or not you will be eligible to receive the loans to refinance. Once approved and finalized, the loan documents will be made and delivered to you at the place of settlement. It is important to note that it is essential that you keep your financial history clean and unaltered during this process as any red flags can cost you any eligibility to receive the loans you need for refinancing. Other than that, you simply need to work with your mortgage company and communicate with them with regards to any questions or concerns you may have. A good mortgage company will usually provide you with a wealth of information on this topic on their site.
Probably the most simple way is to visit a mortgage company site; more often than not, they will have a section dedicated to a mortgage calculator. All you need you is information on your mortgage and from there it is as simple as plugging in the numbers. Additionally, this section of the site can further be broken up to help answer any questions that you might have such as 'Should I refinance?'. It ultimately helps you answer your own questions based off the results you get after plugging in the numbers, so you don't even need to contact anyone at the company itself if your questions do not go beyond what you see in the results. It should a very fast and simple process that could be done in one sitting as long as the site you are on has a mortgage calculator.
It depends on if your mortgage company is willing to work with you. Our attorney advised us to work with the mortgage company directly. This was the process we went through: 1. Call mortgage company and speak to specialist.2. Fill out questionnaire sent by mortgage company to home owner.3. Gather & send in paperwork requested by mortgage company.4. Receive response from mortgage company.5. Receive, sign and send back loan modification paperwork.
Yes, do not send anything to anyone who claims to have purchased the mortgage. Continue to send payments to the original mortgage company until THEY inform you otherwise. There is a scam out there where people get the mortgage information from county records then send an official looking letter. It's good for one or two mortgage payments to a mail drop and you end up being out a couple payments. Don't fall for that one. If you have any questions, contact your original mortgage company and verify the mortgage status
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