Reviews

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IRS Phone Call is a Scam

I was awakened by a wrong number in the middle of the night, but I missed the call.  Wondering if it was some family member in an emergency, I listened intently as I played all of the unheard  messages on our home voice mail.  I was alarmed at a robotic automated message left from the “Internal Revenue Service”.  I was startled at first by the robotic voice’s nasty undertone.   As I replayed it, it became apparent that perhaps this is some sort of scam. The message threatened that there will be legal action initiated against me unless I call them immediately.  Click here to hear the actual message.  A police officer was scammed and called the number back.  This is interesting as the scammer actually goes into detail to how they take your money. Click here to see the accompanying video. Watch from 1:45 to 5:00.  A former NFL player, who is a radio personality, left his office and did exactly what the scammer told him to do.  He went to many convenience stores and payed thousands of dollars into foreign Pay Pal accounts before realizing that this may be a scam.

After researching this more in depth, I found that the IRS will never call you on the phone.  The most they will do is send you multiple letters.  If you file your tax returns on time, pay your required income tax, you have nothing to worry about.

Buyers with Credit Scores Below 620 are Financeable

Does your lender finance anything below a 620/640? FHA/VA/ USDA loans are all regulated by the government. They don’t truly have minimum credit scores, but lenders have what is called overlays. http://www.thetruthaboutmortgage.com/what-is-a-lender-overlay/ These overlays are a set of rules specific to each lender. Most lenders sell their mortgages in large pools to investors. These investors set minimum credit score requirements for loans that they will purchase from these lenders. Since each lender has different investors, there are different minimum score requirements per lender. I deal with many different lenders, and I have a very reputable one who will go as low as a 550 score on all three types of mortgages: VA,USDA, and FHA. Other lenders are required to receive approvals from an automated software system specific to the type of loan requested, in order to close and fund these types of mortgages. My lender underwrites the loan manually, which means that they don’t have to receive an automated approval through any of the government software systems. This allows me the ability to finance many more ready, willing, and able buyers. In order to finance any of these buyers with sub 620 scores, they are required to provide 12 months rent checks evidencing they’ve paid all of the payments on time. The lender will not accept rent receipts, money orders, or letters from a landlord/apartment complex. In addition, the buyer will have to furnish 12 months checks or a printout from at least one utility company to evidence timely payments. The most common types are cable, internet, cell phone, electric, heat, and car insurance. Any of these will work, and the lower the score, the more utility references we may require. If you know of anyone who may fit the description of a buyer who is capable of owning a home please have them call me. I will give them an answer within 48 hours one way or another.

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LOCATION

100 W Main St 1st Floor, Bath, PA 18014

Phone: (610) 837-1600
Fax: (610) 837-1616
NMLS # 113984

HOURS

Monday – Friday, 9AM – 4:30PM. After hours by appointment.
Saturday, By appointment
Sunday, By appointment