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About Jim Hoepf
(Top Expert on this page)

Expertise
I have a diverse background that allows me to answer questions regarding underwriting, collections and industry changes.

Experience
I have 18 years of experience in the industry. I have an extensive underwriting background that allows me to have a greater understanding of how to properly structure a loan for approval. I have been cohost of the local radio show Real Estate Matters for the last four years. I have owned and operated my own brokerage firm for the last 10 years. Along with originating and underwriting I have also handled mortgage delinquency and the foreclosure process.

Education/Credentials
BS in Business Administration from Bluffton University. I have also participated in numerous underwriting workshops put on by Fannie Mae and lenders in the Phoenix area.

Awards and Honors
Broker of the year for Arizona with Homeside Lending.

   

You are here:  Experts > Shopping > Home Buying/Selling > Real Estate Home Mortgages

SubjectDate AskedExpert

Charge-off issue11/10/2009Joe Almirantearena
  Q: I recently had a charge off on my 2nd mortgage. The amount was 140k. I spoke with the recovery dept ...
  A: Your options to refinance would be if you have equity in your property. If you do not have any ...
investment property11/10/2009Jim Root
  Q: I bought an investment property in New Jersey and after 3 years the value of the property has lossed ...
  A: CHARLES-- As I'm neither a State-licensed Lawyer nor Certified Public Accountant,I can't answer ...
charge off11/9/2009Al Rodenburg
  Q: due to bad times, i was not able to pay my mortgage. i tried to rent the property and sell it but ...
  A: Unfortunately, I am no longer involved in the mortgage industry; but I do have several old friends ...
Home Buying Road block11/8/2009Jim Root
  Q: My fiance and I are in the process of buying a home. We were going with a VA loan. We had a ...
  A: If your Fiance is the VETERAN,without him on the loan, as Borrower or Co-Borrower, a VA Loan is NOT ...
investment properties refinance11/5/2009Jim Hoepf
  Q: I am trying to refinance our investment propertiesm however since we have 6 properties, it seems ...
  A: Adrienne, I don't have much good news for you. The majority of lenders have capped the number of ...
.75 condo LLPA11/2/2009Jim Hoepf
  Q: I have a client buying a home that is being charged a .75 pt on a detached condo that is FA ...
  A: Donna, I would be very surprised if they didn't know up front. Loans are run through automated ...
RESPA Question-Found forged mortgage documents10/31/2009Jim Hoepf
  Q: After learing about RESPA requests, I requested and received a complete copy of my 1st mortgage loan ...
  A: Tom, It appears that your list of documents are only preliminary documents meant for the brokers ...
Quit claiming part of ownership without having to refinance10/30/2009Joe Almirantearena
  Q: I own a single family home in Los Angeles, CA. It is heavily mortgaged. I want to quit-claim 50$ of ...
  A: The lender will not demand anything. You can add this person to title, if you wish. Keep in mind ...
Construction to end loan mess10/29/2009Brian Beardsley
  Q: In Sept of 2008 we were approved for a construction loan to put a manufactured home on a basement. ...
  A: Sorry for the delay in responding - # 1 If they have an appraisal, they are required by LAW to ...
PMI Question10/29/2009Denise Monaco
  Q: It is my understanding that PMI is supposed to be automatically cancelled when you LTV reaches 78%. ...
  A: They are supposed to cancel the PMI automatically when it reaches 78% however with the industry the ...
.75 condo LLPA10/29/2009Jim Hoepf
  Q: I have a client buying a home that is being charged a .75 pt on a detached condo that is FA ...
  A: Donna, I would assume they know who the loan is going through....the automated underwriting should ...
Mortgage Charge Off10/27/2009Doug Walker
  Q: I am with HSBC mortgage company who had advised me that my home was in foreclosure due to lack of ...
  A: Wow...I guess you can count me amount the confused! To have a mortgage company not accept payments ...
Construction to end loan mess10/27/2009Brian Beardsley
  Q: In Sept of 2008 we were approved for a construction loan to put a manufactured home on a basement. ...
  A: you won't be able to secure an end loan - Did you rely on information supplied by the seller / ...
.75 condo LLPA10/25/2009Jim Hoepf
  Q: I have a client buying a home that is being charged a .75 pt on a detached condo that is FA ...
  A: Donna, I have done my homework and Fannie Mae does have a .75 Loan Level Price Adjustment for ...
mortgage charge offs10/23/2009Doug Walker
  Q: Please help me....We are about to lose our home and have started the process of bankruptcy. We ...
  A: I am sorry for your situation and I hope your husband finds work soon. You are certainly not alone. ...
HARP10/23/2009Jim Hoepf
  Q: I was trying to learn what options might be available for a woman that has went through a divorce ...
  A: Milli, Is she trying to modify the loan or refinance it? I would assume that if she is just trying ...
special warranty assumption deed10/22/2009Tom Burris
  Q: Will a SPECIAL WARRANTY ASSUMPTION DEED allow me to have complete ownership of the real estate ...
  A: The deeds will contain lien information. If the lender doesn't know about this then they may not ...
Refinancing - have default notice on record10/20/2009Jim Hoepf
  Q: You greatly assisted me this summer regarding questions I had regarding paying off my first and ...
  A: Randy, It never hurts to try, but in my experience, it has had to be a catastrophic event that ...
seller paying down or closing for buyer10/20/2009Jim Hoepf
  Q: i want to sell my home for 120,000. the buyer has about 5,000. for down payment. they want it as a ...
  A: Carrisa, Thank you for the question. To be perfectly honest, there isn't a lot you can do for ...
Refinancing - have default notice on record10/17/2009Jim Hoepf
  Q: You greatly assisted me this summer regarding questions I had regarding paying off my first and ...
  A: Randy, I think in one our conversations, I asked if there had ever been a Notice of Default filed, ...
HECM Short Sale10/16/2009Jim Root
  Q: My husband's grandmother has a reverse mortgage on her home and she has drawn all of the money that ...
  A: DANA-In my nearly 15 years as a Housing Official with HUD's FHA Division, your PLAN to use a ...
REFINANCE10/15/2009Bret Temple
  Q: In New Hampshire. I owned a home for 5 years as sole owner and single. My name is the only name on ...
  A: Dan, Different states might have different laws, but they are probably requiring a signature from ...
condo purchase10/14/2009Jim Root
  Q: My husband and I reside in CA and are considering purchasing our first property in Atlanta. We are ...
  A: Erica-- Certaily you may buy investment property(s)in GA or elsewhere whie residing in CA--but it's ...
Refinance question10/14/2009Denise Monaco
  Q: I currently owe $448,000 on my first 30-yr mortgage at 5.875% fixed rate, which I plan to refinance ...
  A: Most realtors will provide the CMA for free, you can tell them you are thinking of selling and just ...
Refinance question10/13/2009Denise Monaco
  Q: I currently owe $448,000 on my first 30-yr mortgage at 5.875% fixed rate, which I plan to refinance ...
  A: The current situation of our economy is making the guidelines so hard for people to refinance. All ...
G.C. & 203k guidelines10/11/2009Jim Root
  Q: Mr. Root I am a General in St. Louis, MO. I have a potential customer that wishes for me to contract ...
  A: Hey KRIS-- The Mortgage Lender that will be doing the 203K Loan for your potential Customer is ...
closing date extension10/10/2009Craig Ballhagen
  Q: my paperwork was not ready on time the day was Friday i did not find out until Saturday cannot get ...
  A: If your lender did not have the paper work finished on time, they shouldn't have a problem with an ...
Refinance10/8/2009Jim Root
  Q: My parents left me a house paid for with no mortgage. 100% equity. I moved in in Jan. 09. ...
  A: -- Laws relating to REAL ESTATE vary from state to state, so if your "source" of the info on the 6 ...
reverse mortgage10/1/2009Joe Almirantearena
  Q: My husband is 81 and I'm 60. We own/ed five properties. Unfortunately, two we've had to let go into ...
  A: Without knowing more details about your particular situation, I cannot tell you whether you can or ...
Refinance9/28/2009Craig Ballhagen
  Q: 1st of all thank you for taking the time to answer my question. We live in Florida and currently ...
  A: I would suggest not to refinance. With only a 1% drop in rate with a loan amount of 78k and the ...
Mortgage9/25/2009Bret Temple
  Q: I have a mortgage, where when the co-owner passes, his ownership passes to the living co-owner. I ...
  A: The type of ownership you are speaking about is called a Joint Tenant agreement. In this agreement ...
Refinancing - FNMA9/24/2009Jim Hoepf
  Q: My husband and I have been in the process of refinancing our home for more than a month now. We ...
  A: Nicole, Thank you for the question! First, Fannie Mae does not regulate all conventional loans, ...
Refinance/unpaid taxes9/24/2009Bret Temple
  Q: First off, thanks so much for this service! I'm trying to refinance my house, and I have good ...
  A: You will need some kind of income documentation in order to refinance. By now, the Lender will be ...
Past due taxes/mortgage refinance9/24/2009Brian Beardsley
  Q: First off, thanks so much for this service! I'm trying to refinance my house, and I have good ...
  A: Sorry for the delayed response... Most lenders are going to require that the amount is paid in full ...
Gift of Equity9/24/2009Craig Ballhagen
  Q: I am wondering. My father in law is selling his mothers house to my wife and I. The first appraised ...
  A: With any mortgage the person who has the lowest scores is how the loan will be scored qualified. If ...
Gift of Equity9/24/2009Craig Ballhagen
  Q: I am wondering. My father in law is selling his mothers house to my wife and I. The first appraised ...
  A: A co signer does not off set your scores. It only helps you income qualify. Probably the best thing ...
Gift of Equity9/24/2009Craig Ballhagen
  Q: I am wondering. My father in law is selling his mothers house to my wife and I. The first appraised ...
  A: If you are using a non occupying co signer, you would be best to go with an FHA loan. All of the ...
Past due taxes/mortgage refinance9/23/2009Tom Burris
  Q: First off, thanks so much for this service! I'm trying to refinance my house, and I have good ...
  A: You very well may be fine if you can prove payments. I have seen it done. I don't think any of the ...
Past due taxes/mortgage refinance9/23/2009Brian Beardsley
  Q: First off, thanks so much for this service! I'm trying to refinance my house, and I have good ...
  A: it is very unlikely that this information has been reported to the credit agencies - The only ...
buying a new home while selling old one9/23/2009Eric Forster
  Q: OK I hope you can help. Here is my situation, I currently own a home,but want to sell it when I move ...
  A: Michelle - It can be done, but it's not easy. For most people, making payments on 2 homes is not ...

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Questions by
Active Experts:
Brian BeardsleyJoe AlmirantearenaJim Hoepf
Denise MonacoAl RodenburgCraig Ballhagen
Eric ForsterBrian HAHNRay Beggs
AleemDoug WalkerTom Burris
Jim RootBret Temple 

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About Real Estate Home Mortgages
This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here
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