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2022 The Rules have changed in the mortgage business

The Mortgage Business has Changed in 2022 The mortgage business is changing in 2022 in a number of different ways. We are going to look at what is coming in 2022 for the mortgage business and the Real Estate business. Forecasting is not easy these days, especially when it comes to economics. For example, many…
Read MoreHow does one spouse buy out the other in a divorce?

Divorce and how to buy out or split the equity in the marital home. One spouse can buy the other spouse from the house they owned before marriage when the divorce decree states who will keep the house and how much equity will be divided. In other words, the existing spouse gives an offer to…
Read MoreWhat is a Reverse Mortgage and how does it work?

What is a Reverse Mortgage and how does it work? A Reverse Mortgage is a mortgage specifically designed for those 62 years of age and older who want to have more control over their mortgage and their assets. It is similar to an FHA mortgage but with lots of extra options and protections. They are easier…
Read MoreHome Care for Seniors

Home care for Seniors or others in need is a topic near to my heart. I work with seniors often in the course of my reverse mortgage business. I am so thankful to be able to help our elders with financial resources to stay in their homes. I am a firm believer that as long…
Read MoreWhy A Reverse Mortgage Does Not Cost Too Much

Many critics will tell you that a reverse mortgage cost too much. Mind you, most of those critics have never studied reverse mortgages and are relying on misinformation to form an opinion. I wanted to share with you some great information provided by Wade D. Pfau, Ph.D. Wade D. Pfau, Ph.D. CFA, is a professor…
Read MoreGetting a home loan just got easier

Getting a home loan can sometimes be pretty challenging. You have to complete an application, your credit report has to be pulled, and then you must supply documentation to back up the information on your application. The difficult part then begins. Underwriting. Underwriting is when a person charged with approving your loan must review all…
Read MoreService First is supporting the Concerns of Police Survivors Program

We are excited to announce our 2017 Fall Cause. Service First Mortgage is again partnering with Concerns of Police Survivors (C.O.P.S.), a non-profit which supports the family and friends of police officers who have died in the line of duty. In recognition of the tremendous sacrifices that all of our heroes in blue make to…
Read MoreJumbo Home Loan |Get the best here

Are you in the market for a Jumbo home loan? I have the best home loan for you. A jumbo home loan is defined as a loan whose loan amount exceeds the Fannie Mae conforming loan limit. In McKinney Texas, the conforming loan limit is $424,100. The Richard Woodward Mortgage Team is well versed in…
Read MoreReverse Mortgage Myths Debunked | What you should know

Reverse Mortgage Myths are very common. At Service First Mortgage, we’re committed to making sure you receive honest and accurate information about reverse mortgages so you can make an educated decision that’s best for you. Here are some of the most common misconceptions about Home Equity Conversion Mortgages (HECMs)— also known as reverse mortgages— and…
Read More10 Important contract terms every home buyer should know
I think this article from Realtor.com is really good for all home buyers to read. 10 Crucial Real Estate Contract Terms Home Buyers Should Know Before They Sign By Margaret Heidenry | Jun 1, 2017 Article from realtor.com If you ever attempt to read a real estate contract, you will quickly find that this paperwork…
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