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Mark Saint Onge, Pulte Mortgage
Mark’s success is attributable to a simple philosophy of telling the truth, paying attention to detail and a commitment to doing the right thing for the customer. His specialty is bridge financing: a unique program of advancing the equity from the borrower’s existing residence to put down on the new property. The bridge loan does not require debt service and Pulte’s special program allows the permanent mortgage on the purchase to ignore the payment of the existing residence and the interest accruing on the bridge loan in calculating the qualifying debt-to-income ratios. In other words, we can qualify the new purchase as if they sold their existing residence! This is done at no premium to the borrower on the permanent loan so no refinancing is necessary. Competitive rates and attentive service are standard on all mortgages. Ph: 303-493-2860
Toll: 800-426-8898, X 2860
7 days a week pager: 303-760-3201
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Disclosure Laws >Avoiding Delays During Escrow
Unforeseen problems can arise during escrow, and closing dates are never set in stone! Lenders, appraisers, title attorneys, credit check services, or anyone who is involved in the transaction could potentially delay a closing. Stay in close touch with your real estate agent, who will notify you of deadlines and help you deal with delays.
Well-written sales contracts are the key to avoiding problems during escrow. For example, provisions can be included in the agreement that require the buyer to provide evidence of sufficient funds for down payment and closing costs, or to present proof of the ability to obtain homeowner's insurance. Because of new restrictions on insurance policies, the mortgage lender may require insurance before funding the loan.
There is also a section in the sales contract wherein the seller makes a warranty to the buyer of the condition of the property. It is important to make sure that this clause is modified to reflect the seller's transfer disclosure statement. If this is not done, the seller could be required to repair items that are found to be dysfunctional or faulty, and this could add time to the escrow period.
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What is the largest home in Hollywood?
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The largest home in Hollywood is currently "The Manor" at 36,500 square feet, built by T.V. producer Aaron Spelling for $37 million. |
 See More Real Estate Trivia > |
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Patty Salam, Home Staging Professional
Your house is probably your biggest asset; selling it can be one of the most important decisions in your life.
Find Out More >
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