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Ali Klein

NMLS ID 41552

804-424-2200 aklein@tidewaterhomefunding.com

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Blog Image: FHFA: Borrowers in Forbearance CAN Refinance

FHFA: Borrowers in Forbearance CAN Refinance

The onset of the COVID-19 crisis has forced millions of Americans into unemployment, resulting in over 4.1 million homeowners applying for mortgage forbearance. There has been plenty of confusion about how the rules of forbearance – a payment deferral plan – affect everything from credit scores to the ability to refinance or sell. Last week the Federal Housing Finance Agency announced changes to Fannie Mae and Freddie Mac forbearance policy that will allow borrowers to refinance out of their modified loans. In the past, mortgage loans in forbearance could not be refinanced for a...

May 27th, 2020 | Refinancing a Home, FHFA: Borrowers in Forbearance CAN Refinance

Blog Image: 6 Important People Involved in Your Homebuying Process

6 Important People Involved in Your Homebuying Process

When you’re buying a home, you’ll come in contact with many different kinds of people. Everyone involved plays an integral part from helping you land that dream home to choosing the right mortgage for you. Who are these players and how do they fit in your homebuying timeline? Here’s a spotlight on six of the most important housing professionals that you’ll encounter along the way.  Real Estate Agent A Realtor may be one of the first housing professionals you come in contact with as a prospective homebuyer. You may have a real estate agent before you even begin ...

May 21st, 2020 6 Important People Involved in Your Homebuying Process

Blog Image: Is Now a Good Time for a Reverse Mortgage?

Is Now a Good Time for a Reverse Mortgage?

As the COVID-19 pandemic has roiled stock markets over the past few months, many Americans in or nearing retirement may be worried about their investment portfolios. Without the possibility to earn more money, more retirees, seeing a reduction in their nest eggs, are turning to reverse mortgages to supplement those savings.  In fact, March saw a 25% increase in the number of scheduled reverse mortgage counseling sessions compared with a year earlier, according to the National Reverse Mortgage Lenders Association. As financial counseling classes are a prerequisite to obtaining reverse m...

May 20th, 2020 | Reverse Mortgages, Is Now a Good Time for a Reverse Mortgage?

Blog Image: The COVID-19 Housing Market is Better than the Great Recession Market

The COVID-19 Housing Market is Better than the Great Recession Market

Coronavirus shutdowns have spooked many homebuyers and sellers out of the market for now. Millions of homeowners have applied for mortgage forbearance in fear they will be unable to make their payments due to unemployment. Lenders have been concerned about continuing to repay their investors while not receiving payments from borrowers. All of this has prompted some to wonder if we are likely to see another housing market crash like the one that led to the Great Recession. After looking at the numbers however, today’s homeowners are in a much better spot to weather an economic storm than ...

May 13th, 2020 The COVID-19 Housing Market is Better than the Great Recession Market

Blog Image: How to Make $100 Investment Go a Long Way

How to Make $100 Investment Go a Long Way

During what may be one of the most turbulent economic times we’ve had in recent history, you’re probably not thinking of investing in the stock market right now, or investing at all, for that matter. These are hard times and our priorities are shifting based on basic human needs. But that doesn’t mean we can’t think about the future, and come out of this crisis even smarter and stronger than before. Maybe now that we’re all stuck inside we’re spending and consuming less. Think about ways you can add to your emergency fund (maybe you’re using yo...

May 8th, 2020 How to Make $100 Investment Go a Long Way

Blog Image: How Long Does a Pre-Approval Letter Last?

How Long Does a Pre-Approval Letter Last?

Getting pre-approved before shopping for a new home is a smart idea, but what if you don’t find the right home quickly? How long does that pre-approval last? Pre-approval Defined Before going out with a real estate agent to look for the perfect property, it is wise to get pre-approved with a mortgage lender. This means allowing the lender to run your credit and take a look at your income and assets to determine how much mortgage funding you qualify for. A pre-approval gives you a top number for your house budget to help define your search.  It also gives you credibility wit...

May 6th, 2020 | Purchasing a Home, Preapproval, How Long Does a Pre-Approval Letter Last?