The home loan process

reverse_mortgage

One element virtually all “how to get a mortgage” and “how to buy a home” guides leave out is the crucial need for home ownership counseling. This one is no different, so we’ll include it for you.

You know that new Federal Housing Administration rule that allows those qualified to buy another home after one year, rather than three?

Certainly you are aware of mortgage modifications, refinance work-outs and other forms of foreclosure alternatives?

And then there are the new federal mortgage rules, reverse mortgages, bankruptcy and a host of other mortgage programs.

They all require home ownership counseling and no one should buy a home without it.

That’s because a host of studies prove home buyers from all walks of life, will be a lot better off, in good times and bad, holding onto what’s likely their most valuable asset if that first mortgage and home buying step is home ownership counseling.

Beyond that obvious oversight, Platinum Home Mortgage does an excellent job of letting you know what you need to do during the home loan process.

Mouse over and click the image below. Don’t forget to get counseled by a certified U.S. Department of Housing and Urban Affairs (HUD) -certified counselor.

Buying a Home: The Loan Process

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About the author

A DeadlineNews.Com Silicon Valley Contributing Writer, with a penchant for the quick, story-telling capability of infographics, Mark K. Hicks is broker/owner of The Seabrooke Group in San Jose, CA. Hicks, who takes a "client for life" approach to business, has more than 20 years real estate experience, including creative financing, foreclosure acquisition, probate sales and tax-deferred exchanges. Network with Hicks on LinkedIn.

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