Jack Tenold NMLS 10261

Veterans have you met IRRRL?

Veterans have you met IRRRL? Who is IRRRL you say?   What is IRRRL? IRRRL IS:  The VA Interest Rate Reduction Refinance Loan It is a home loan refinance program which provides another benefit to the 600,000+  veterans who may be searching for ways to save money.   IRRRL allows you to refinance a property on which you used your VA eligibili ...
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Top 10 Scams According To The BBB

Scammers of all kinds come out this time of year to prey on those that may not be aware. They seek out those that can’t easily fend for themselves. Sometimes it is a senior who may be sick, lonely or suffering from dementia. Because I work with many seniors over the age of 62 in my reverse mortgage business I pay close attention to these con arti ...
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What IS a Reverse Mortgage?

Wait! What IS a reverse mortgage?    The other day I had a conversation that summarizes an all-too-common   situation.   I was chatting with a lovely senior lady (we’ll call her Jane) who, with  her  husband,  was shopping for a new senior-friendly home.  I suggested that she may wish to purchase the home with a reverse mortgage.   ...
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What is my home worth?

Anyone considering a home loan today is concerned about the value of their home. With all loans,  the appraisal is to determine the value of the property. The appraised value is determined by a licensed appraiser comparing properties that have recently sold in your neighborhood.  The appraiser is independent and cannot be influenced by a ...
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Where Does My Earnest Money Go?

Hey, I gave my real estate agent a $5000 Earnest Money Deposit check... Where does that money go? A basic and very obvious question that most First-Time home Buyers ask once their purchase contract gets accepted. According to Wikipedia: Earnest Money - an earnest payment (sometimes called earnest money or simply earnest, or alternatively a ...
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Seven Things Your Real Estate Agent Should Know About Your Mortgage Approval

While many experienced real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied. New regulation, updated d ...
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Do I Need To Sell My Home Before I Can Qualify For A New Mortgage On Another Property?

Although every situation is unique, it is not uncommon for homebuyers to qualify for a mortgage on a new home while still living in their primary residence. Perhaps you are outgrowing your home, or have been forced to relocate due to a job transfe ...
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What Do Spokane's Appraisers Look For When Determining A Property's Value?

My clients are often surprised to learn what appraisers actually look at when determining the value of a real estate property whether it is rural or urban. A common misconception  is that the value of a home is determined after the appraiser has ...
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Understanding the Difference Between an Appraisal vs Neighborhood Listing Prices

Why is there such a difference between what my appraised value is and the price similar homes are selling for on my street? It’s a great question, and you don’t have to be a mortgage professional or a real estate agent to understand the answer ...
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