Northern Virginia Real Estate Blog

Tuesday, August 13, 2013

EASIEST DIY PROJECT

GIVE OLD CHAIRS NEW LIFE

Recently I renovated a house and moved into it. As we all know, moving alone can be quit costly. Deciding to take a break and not worry about the backyard area just yet, my new kind neighbor offered me her old outdoor chairs. I thought to myself "this is great" since I had no where to sit while watching my dogs run and play.

The chairs weren't beautiful; but they sure were comfy. I decided to take at $10 risk and spruce them up. I ventured off to Lowes on my way home yesterday and went down the paint aisle. For $4.98 a can; and only needing 2 cans (1 for each chair) I said what the heck- lets give this a try.

I get home and immediately go outside; within 30 minutes I have 2 new cute chairs for $10 versus $40 (what my neighbor paid for 2 new chairs). You can't beat that!

Before you throw those chairs out next season- think about what you can do and the money saved :)

Tiffany Jacobs

Advantage+ Real Estate Team

RE/MAX Olympic

9214 Center Street #100, Manassas, VA, 20110

Direct:

571.209.8133

Email: RealEstateWithTiffany@gmail.com

www.TiffanyRealEstate.net

Thursday, August 8, 2013

9635 Bedder Stone Place, Bristow- Home For Sale

Monday, June 24, 2013

Bizarre Mortgage Requests Delay Borrowers

Underwriters are being extra vigilant in verifying every detail of a mortgage application, and some of their requests for information, borrowers say, are downright odd.

For example, one borrower says an underwriter demanded a letter from his doctor that an illness he had would never come back. Another borrower says that an underwriter told her she needed to get verification from her employer on her employment status when she listed “homemaker” as her occupation.

A borrower said an underwriter asked him for a letter of explanation on a $6 deposit he made (the borrower earned $10,000 a month at the time).

"I don’t know whether to laugh or cry," says Karen Deis, who operates MortgageCurrentcy.com, and who collected dozens of anecdotes on her Facebook page about bizarre underwriting requests. "People are scared. All you hear about are buybacks, audits, and people losing their jobs" because they didn't verify this or confirm that.

Banks are requiring more documentation when approving a mortgage, and some of the extra requests have caught borrowers off-guard. For example, Deis says one borrower said that an underwriter demanded a letter from her explaining why she changed her name after she got married. A single father who had custody of his child said he was asked for a letter saying he did not have to pay child support. Another borrower who had been out of school for years said he was asked to produce his high school transcript.

Despite some of the extra documentation requests, recent surveys are showing that banks lately are easing up slightly on their underwriting standards.

However, "even though there has been some loosening, what they're asking of people is not changing,” says Jonathan Corr, Ellie Mae president. “It's still pretty comprehensive, and we're going to continue to hear stories like this."

Source: “Underwriting requests are getting weirder,” The Chicago Tribune (June 21, 2013)

Tiffany Jacobs

Advantage+ Real Estate Team

RE/MAX Olympic

9214 Center Street #100, Manassas, VA, 20110

Direct:

571.209.8133

Email: RealEstateWithTiffany@gmail.com

www.TiffanyRealEstate.net

Wednesday, May 22, 2013

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