Friday, November 11, 2016

Veterans Day in the United States

In the USA, Veterans Day annually falls on November 11. This day is the anniversary of the signing of the armistice, which ended the World War I hostilities between the Allied nations and Germany in 1918. Veterans are thanked for their services to the United States on Veterans Day.


Veterans Day is intended to honor and thank all military personnel who served the United States in all wars, particularly living veterans. It is marked by parades and church services and in many places the American flag is hung at half mast. A period of silence lasting two minutes may be held at 11am. Some schools are closed on Veterans Day, while others do not close, but choose to mark the occasion with special assemblies or other activities.

Observance

Veterans Day is officially observed on November 11. However, if it falls on a week day, many communities hold their celebrations on the weekend closest to this date. This is to enable more people to attend and participate in the events. Federal Government offices are closed on November 11. If Veterans Day falls on a Saturday, they are closed on Friday November 10. If Veterans Day falls on a Sunday, they are closed on Monday November 12. State and local governments, schools and non-governmental businesses are not required to close and may decide to remain open or closed. Public transit systems may follow a regular or holiday schedule.

History

On the 11th hour of the 11th day of the 11th month of 1918 an armistice between Germany and the Allied nations came into effect. On November 11, 1919, Armistice Day was commemorated for the first time. In 1919, President Wilson proclaimed the day should be "filled with solemn pride in the heroism of those who died in the country’s service and with gratitude for the victory". There were plans for parades, public meetings and a brief suspension of business activities at 11am.
In 1926, the United States Congress officially recognized the end of World War I and declared that the anniversary of the armistice should be commemorated with prayer and thanksgiving. The Congress also requested that the president should "issue a proclamation calling upon the officials to display the flag of the United States on all Government buildings on November 11 and inviting the people of the United States to observe the day in schools and churches, or other suitable places, with appropriate ceremonies of friendly relations with all other peoples."
An Act (52 Stat. 351; 5 U. S. Code, Sec. 87a) was approved on May 13, 1938, which made November 11 in each year a legal holiday, known as Armistice Day. This day was originally intended to honor veterans of World War I. A few years later, World War II required the largest mobilization of service men in the history of the United States and the American forces fought in Korea. In 1954, the veterans service organizations urged Congress to change the word "Armistice" to "Veterans". Congress approved this change and on June 1, 1954, November 11 became a day to honor all American veterans, where ever and whenever they had served.
In 1968 the Uniforms Holiday Bill (Public Law 90-363 (82 Stat. 250)) made an attempt to move Veterans Day to the fourth Monday of October. The bill took effect in 1971. However, this caused a lot of confusion as many states disagreed with this decision and continued to hold Veterans Day activities on November 11. In 1975, President Gerald R. Ford signed Public Law 94-97 (89 Stat. 479), which stated that Veterans Day would again be observed on November 11 from 1978 onwards. Veterans Day is still observed on November 11.

Thank you for your service.
Robert Krowel

Thursday, November 10, 2016

Robert Krowel FHA Mortgage News

What is an FHA loan?

An FHA loan is a mortgage insured by the Federal Housing Administration. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.

Why Get an FHA Loan

Because of that insurance, lenders can -- and do -- offer FHA loans at attractive interest rates and with less stringent and more flexible qualification requirements. The FHA is an agency within the U.S. Department of Housing and Urban Development.

The 7 things you must know about FHA loans

1. Minimum Credit Score is 580 and allows you to only put down 3.5%.  Robert Krowel

2. FHA allows 500 to 579 with 10% down. We are one of the lenders that will do this. Robert Krowel

3.Borrowers using FHA loans have a variety of ways to come up with the down payment. They can use money from their savings, 401k, ira, retirement, and even gift funds from a family member. Robert Krowel can give you details on how to structure this.

4.Debt to Income - This is a standard across the board. The back end ratio can go to 56.9% This is one of the highest Debt to Income allowed on loans. 

5. Lenders like Me are allowed to pay for closing cost. Robert Krowel has in his margins to beable to cover all closing cost for FHA loans and still get a very competitive interest rate. Most of all other lenders will raise your interest rate to cover this. We also don't charge any points. 

6.All Lenders that are doing FHA Mortgages have to be approved with each state. We are licensed in 21 states. 

7. Mortgage insurance is caculated like this. 1.75% on the up front and .85% on the monthly Mortgage Insurance. 


This loan is still one of the most popular loans out in our industry still. It is a easy loan to get qualified, has the ability to get bigger exceptions on income stability and interest rates are lower than conventional loans. 

Please visit my sight at www.icitymortgage.com/robertkrowel

Please feel free to reach out to me for any of your mortgage questions. We are here to help.

Robert Krowel
Branch Manger
951.756.3748 

Tuesday, October 25, 2016

Mortgage News: Robert Krowel Credit Risk in today's Real Estate B...

Mortgage News: Robert Krowel Credit Risk in today's Real Estate B...: Robert Krowel Credit Risk in today's Real Estate Business I am here to explain the different credit risk and common mistakes that pe...

Robert Krowel Credit Risk in today's Real Estate Business

Robert Krowel Credit Risk in today's Real Estate Business I am here to explain the different credit risk and common mistakes that people are making in today's Market. I (Robert Krowel) have been in the Mortgage Business 17 years now. Through the years I've seen the market at its peeks and lows. During this time different credit risk have seen a rise. In today's market, even though we are out of the recession. We are still seeing stricter guidelines with Fannie Mae, FHA, VA, and Freddie Mac loans. When applying for a mortgage loan you want to make sure that you have these things resolved so when you are in escrow we don't have a problem arise. 1. All credit cards should be at no more then 48% of the max credit limit. 2. Make sure all collections that are not medical are paid and resolved. 3. If you have filed BK or foreclosure, make sure you have all of the paperwork because the lender will need to see this. 4. Don't over extend your self. IF you can pay off your credit cards on a monthly basis. You will see your credit score jump very fast. 5. When applying for a Mortgage Loan. Do not let more than 3 Mortgage companies run your credit. After 3 you will see a drop on your credit score. 6. This is the biggest one. When you are in escrow. Do not open anymore accounts. Don't buy furniture, cars, or anything else until you close escrow. Not only can this hurt your credit and have to explain these things. This can also greatly affect your Debt To Income and make where we can't close the loan. Any questions, please don't hesitate to call Robert Krowel I would be happy to assist you with any questions you may have. Robert Krowel 951.756.3748 Robert Krowel has been in the Mortgage business for 18 years now. please visit www.icitymortgage.com/robertkrowel

Saturday, October 22, 2016

Mortgage News: Mortgage News: Robert Krowel Credit Risk in today'...

Mortgage News: Mortgage News: Robert Krowel Credit Risk in today'...: Mortgage News: Robert Krowel Credit Risk in today

Mortgage News: Robert Krowel Credit Risk in today's Real Estate B...

Mortgage News: Robert Krowel Credit Risk in today's Real Estate B...: I am here to explain the different credit risk and common mistakes that people are making in today's Market. I (Robert Krowel) have b...

Robert Krowel Credit Risk in today's Real Estate Business

I am here to explain the different credit risk and common mistakes that people are making in today's Market. I (Robert Krowel) have been in the Mortgage Business 17 years now. Through the years I've seen the market at its peeks and lows. During this time different credit risk have seen a rise. In today's market, even though we are out of the recession. We are still seeing stricter guidelines with Fannie Mae, FHA, VA, and Freddie Mac loans. When applying for a mortgage loan you want to make sure that you have these things resolved so when you are in escrow we don't have a problem arise. 1. All credit cards should be at no more then 48% of the max credit limit. 2. Make sure all collections that are not medical are paid and resolved. 3. If you have filed BK or foreclosure, make sure you have all of the paperwork because the lender will need to see this. 4. Don't over extend your self. IF you can pay off your credit cards on a monthly basis. You will see your credit score jump very fast. 5. When applying for a Mortgage Loan. Do not let more than 3 Mortgage companies run your credit. After 3 you will see a drop on your credit score. 6. This is the biggest one. When you are in escrow. Do not open anymore accounts. Don't buy furniture, cars, or anything else until you close escrow. Not only can this hurt your credit and have to explain these things. This can also greatly affect your Debt To Income and make where we can't close the loan. Any questions, please don't hesitate to call Robert Krowel I would be happy to assist you with any questions you may have. Robert Krowel 951.756.3748