Marc Edelstein

I have spoken several times in the past about this topic, but I feel it is an important topic to revisit, especially in the new year. I find many of my clients, especially first time home buyers, have some vague notion of what a “preapproval” is, but they do not know what is required to […]

For the last month or so, I have been writing about the upcoming changes to the mortgage industry due to the Dodd-Frank legislation which was passed a few years ago. Tomorrow, the next round of changes go into effect, and they will have some pretty major consequences on a select subset of borrowers; namely, those […]

It is pretty common knowledge that the spring is the best time of year to list a house for sale. As the weather clears up, your home will show better. Buyers start coming out of their winter hibernation. And if others are listing their houses for sale, it means there will be more potential buyers […]

My Pay it Forward Promise is one of the things I am most proud of as a mortgage professional. Each time a mortgage is financed through me, I donate $50 to the charity of the borrower’s choice. And while $50 does not seem like a lot, the results are pretty nice by the end of […]

Happy New Year from me and my team. Whatever your plans tonight, please stay safe and enjoy yourself. As we look to next year, there are many great things on the horizon for the mortgage industry, especially here in Michigan. For more information on these changes, check out my blog in the new year or […]

Another year is coming to a close. It has been an incredible one for me and my parent company, Ross Mortgage. As the next week closes out, I look forward to sharing your Pay it Forward results. I feel truly blessed to work with the incredible staff and clients with whom I work, and want […]

Have a safe and merry holiday season this year! If you are in the market for a new home, or think you might be in the market at some point later in the year next year, it is important to understand the impact of the Dodd-Frank changes going into effect in January. Should you have […]

Last week I discussed the new Dodd-Frank regulations and how they will impact home buyers, as well as what a Qualified Mortgage will be per the Dodd-Frank regulations. On Tuesday, we discussed the Dodd-Frank Ability to Repay Rule as it relates to the new DTI hard cap of 43%. And today, I would like to […]

As I mentioned last week, the Dodd-Frank regulations going into effect on January 10th will have a significant impact on both the mortgage industry and individual borrowers. Under the new regulations, there are a number of requirements to classify a mortgage as a Qualified Mortgage, and if a mortgage does not meet these stringent guidelines […]

As I discussed earlier this week, there are new regulations which will go into effect on January 10 which will impact the mortgage industry pretty significantly. Of all the new changes, the most important to borrowers is the “ability-to-repay rule,” which sets new standards on what is and is not an acceptable mortgage. This new […]