Ever wonder how underwriters find out all the details about a buyer or a property? One of the greatest resources for an underwriter is the Public Records Online Directory. This web site is a portal to all the official Assessor’s, Recorder’s, and Treasurer’s web sites.
Here are just a few of the things that can be found by using this site:
* assessed value
* current owners’ name and address
* sales history
* deed recording dates
* zoning information
* property type (end the confusion about whether a property is a condo or a townhouse)
Here’s the link to the site:
When the web page opens, just click on the state, then the county, and then the link to the Assessor, Recorder, or Treasurer. If the link says “Go to Data Online” that means you will be able to access the information yourself. If the link says “Website Only” or “No Information Online”, then you won’t be able to get the information yourself, but you can call the phone number listed next to the link to get what you need.
We use this web site for every loan we originate, just so we’ll know exactly what the underwriter is going to see when they start their research. It’s much better to head off problems early in the game than to have a deal fall apart at the last minute.
Streamline your Refinanace
Do you or someone you know have an FHA loan with an interest rate of 5% or more? Worried that you can’t refinance because the value of the property might have gone down?
Fear no more! FHA has a refinance program called a “Streamline Refinance” and it is meant for people who already have an FHA loan and want to refinance into a lower rate FHA loan. Here are some of the highlights:
* There is NO income verification. They check to see if you have a job, but the debt-to-income ratio is NOT considered.
* There is NO appraisal required. No need to worry about whether the value went down. No one cares.
* You MUST save money or the lender cannot sell you one. No need to worry about those thieving mortgage brokers (we all know how bad THEY are).
Get a Loan & Help the Needy
Did you know that The Mortgage Experts donate $100 to Free Food 4 Families for every loan we close? Free Food 4 Families is a Denver-based non-profit that buys nutritious food and delivers it weekly to needy families. Check them out at: www.FreeFood4Families.org