The Mortgage Files

Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.

Should you buy a house or wait for the market to improve?

5 signs you should wait to buy a house

By Scott Sheldon / June 25, 2023

If you’re thinking about buying a home, but you’re just not sure. You’re probably better off listening to your gut. That looming credit card debt, or personal loan, that you just can’t seem to kick whatever the case may be here are five reasons you might want to think about waiting to purchase a home…

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how to refinance 2nd mortgage

Is is a second mortgage making your refinance harder? This tip may help…

By Scott Sheldon / May 7, 2020

Mortgage lenders sometimes take an overly gun shy approach to how a mortgage loan is originated. One such example of this is if you have a first and a second mortgage on your home. Let us say your goal is to refinance and to not get any money out but just combine the first and…

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How to get a mortgage if you've been furloughed to do to COVID_19

How to get a mortgage if you’ve been furloughed to do to COVID_19

By Scott Sheldon / April 9, 2020

The coronavirus has undoubtedly created a significant amount of challenges for mortgage companies and families across America. Some lenders are changing credit score requirements, others are pulling out of the market entirely, and others are making restrictions on what types of loans they will fund. If you are in the process of getting a mortgage…

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fannie made change to home appraisal covid_19

Fannie & Freddie change home mortgage appraisals over COVID_19

By Scott Sheldon / April 1, 2020

The coronavirus has just changed the way in which mortgage lenders are now appraising homes. Due to market volatility and changing market conditions, Fannie Mae and Freddie Mac just recently announced that they’re going to be loosening appraisal standards. Here’s how these new appraisal standards apply to you… On purchase transactions for a primary residence…

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How to use seller carry financing to purchase a house with less cash down

Don’t make this home buying when negotiating the purchase price of a house

By Scott Sheldon / March 12, 2020

Buying a home is a high ticket purchase. It requires careful planning and due diligence. One of the biggest factors of buying a home is taking into consideration all the various reports, dates, and deadlines. It can be quite an ordeal of a process if it’s not handled correctly. Here is what to know… One…

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why your mortgage goals why not happen

Why your mortgage goals may not happen

By Scott Sheldon / March 3, 2020

If you’re desiring to refinance your house or even buy a new one and you don’t have several hundred thousand dollars, you’re probably going to need a mortgage. One of the things you should carefully consider is the mortgage company that you’re choosing to apply with. Here are some things you might want to think…

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buy a home now vs waiting

Buy a house now or should I wait?

By Scott Sheldon / February 26, 2020

One of the things homebuyers are always asking themselves is buying now versus waiting. Mathematically it could pencil out that buying a house down the line might make more sense, but you should pay close attention to all the financial contributors in your life so you can make the most informed decision possible… The lay…

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Why you shouldn't be solely focused on credit when it comes to getting a mortgage

Why you shouldn’t be solely focused on credit when it comes to getting a mortgage

By Scott Sheldon / February 19, 2020

For you to successfully purchase a home or refinance a home, you’ll want to pay attention to your overall financial picture. Each mortgage lender requires a blend of healthy credit, manageable debt, and income as a basis for support for the whole picture. The following are some of the things to consider when it comes…

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