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Cornerstone Mortgage - News


Property Transactions for Jan. 26
http://www.timesleader.com/news/local/1136109/Property-Transactions-for-Jan.-26
End Blvd., Bear Creek Township, $105,000. • Deutsche Bank National Trust Company, Ameriquest Mortgage Securities Inc. and Homeward Residential Inc. to Nicholas E. Belfino and Christine S. Giuliano, 55 Kingswood Drive, Dallas Township, $140,899.

Reverse-Mortgage Rule Changes Draw Professor to the Business
http://www.businessweek.com/articles/2014-01-23/reverse-mortgage-rule-changes-draw-professor-to-the-business
Columbia Business School professor Christopher Mayer is so sure reverse mortgages can be a cornerstone of responsible retirement planning that he's gone into the business. “It's an enormous underserved market,” says Mayer, who is teaching fewer 

A snapshot of 2013 activities in the Sheriff's Office
http://www.walkermn.com/opinion/article_919eeca0-8537-11e3-9f9c-001a4bcf887a.html
Minnesota TZD is the state's cornerstone traffic safety program, employing an interdisciplinary approach to reducing traffic crashes, injuries and deaths on Minnesota roads. The TZD program uses data to target areas for improvement and employ proven

Prospectus offers peek at Amalfi mortgage
http://www.marinacityonline.com/news/mortgage0123.htm
Prospectus offers peek at Amalfi mortgage The previous owner, Cornerstone Real Estate Advisors, LLC, paid $50 million for the Amalfi in 2007. The hotel struggled during the recession and missed payments on a $37 million mortgage. It was less of a struggle in 2010 after the loan was restructured.

Cornerstone Mortgage Group Part 1 of 3 2009 Mortgage Market Forecast

Cornerstone Mortgage Group presents a 2009 mortgage market forecast on there prediction of how the next 2009 year will turn out. Hosted by Michael ...

Battle Lines Form Over Popular Mortgage Interest Deduction

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Homebuilders and lenders are preparing to defend the mortgage interest deduction as the incoming Trump administration and Congress weigh potential adjustments to one of the most popular tax sweeteners.

Treasury Secretary-designee Steven Mnuchin last week raised eyebrows on Capitol Hill and drew scrutiny from business advocates by pointing to potential curbs on the mortgage interest deduction in a CNBC interview.

“We’ll cap the mortgage interest, but allow some deductibility,” Mnuchin said on Nov. 30.

President-elect Donald Trump’s tax proposal makes no specific changes in the current federal tax write-off for home mortgage interest on loan principal amounts of $1 million or less. But the plan calls for a cap on all itemized deductions, which would include the mortgage interest deduction, at $100,000 for an individual tax filer and $200,000 for a couple filing jointly.

David Stevens, president of the 2,400-member Mortgage Bankers Association, said in an interview that his group has serious concerns about any potential changes, including any attempt to lower the loan principal cap.

An affordable way to qualify for a home loan without that big down payment

How MI works

Mortgage insurance is simple. In addition to the other parts of mortgage underwriting process — such as verifying employment and determining the borrower’s ability to afford the monthly payment — lenders traditionally required 20 percent down to ensure the borrower had some of their own money committed before the bank would provide a loan. This is where MI enters, bridging the down payment divide to qualify borrowers for mortgage financing.

Benefits of MI

* It helps you buy a home, sooner. For the average firefighter or school teacher, it could take 20 years to save the typical down payment. Private mortgage insurers help borrowers qualify with as little as 3 percent down.

* It’s temporary, leading to lower monthly payments. MI can be cancelled once you build 20 percent equity, either through payments or home price appreciation — typically in the first five to seven years. This is not the case for FHA loans, the federal government’s form of MI. The majority of which require MI for the life of the loan.

What Mortgage Lenders/Banks should I avoid?

We're buying our first home. I'm checking rates at Bankrate and finding a lot of choices. I'm tempted to apply to the lowest APR. Should I be avoiding any of these companies listed below? My credit union has a much higher rate than any of these.


Quicken, Everbank, and Compass are names I know.

But... be careful - they are pushers of things that are Evil.
They will try to scam you into variable loans, ARMs, 5/1's, 5/5's.