3 things you should never hide from your mortgage lender

first_img 41SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Wendy Moody Wendy Moody is a Senior Editor with CUInsight.com. Wendy works with the editorial team to help edit the content including current news, press releases, jobs and events. She keeps … Web: www.cuinsight.com Details You’re ready to apply for a mortgage … or so you think. The process of meeting with a lender and a getting a mortgage can be very complicated, especially for first time homebuyers. It can be quite tricky to know exactly what to do or how much you should disclose about yourself to your lender. To help with this process, here are a few things to consider being up front about from the very start.Career changesWhen handing out large loans, lenders look for employment stability and steady income; most will check your employment history and income throughout the mortgage application process. Therefore, although you may be tempted to hide that recent demotion or career setback, it’s better to be straightforward from the beginning. Failing to do so may jeopardize your eligibility or cause other problems prior to closing.Other loansIf you have taken out other large loans or made a big purchase before applying for your mortgage, your lender needs to be in the loop. Making these financial decisions will affect your mortgage as it increases your “debt-to-income ratio” or DTI. Having a high DTI will also result in a higher mortgage interest rate, which makes you riskier in the eyes of your lender. So, come clean about that new car because it may affect the type of mortgage you qualify for.Large depositsWhen applying for a mortgage, the lender will ask for two month’s worth of bank statements. If they notice you’ve made multiple large deposits of over $100, it’s imperative you provide them with documentation explaining the source of the income. These large deposits can be deemed quite questionable during the underwriting process so in order to avoid delays, be prepared with all necessary documentation.last_img read more

Virus alert: Church tweaks Ash Wednesday practice

first_imgOn Feb. 20 CBCP issued liturgical guidelines addressed to allbishops and diocesan administrators vis-à-vis the COVID-19 threat. He also urged the faithful to “include in our prayers thoseaffected by the virus and that a preventive and healing cure may be found.” “In praying we invite ourselves withall our brothers and sisters suffering from the disease brought by this virus,bring up to God our longing for them to be restored to full health and humblypray that we may be spared from infection of this virus,” stated CBCP./PN “May our celebration of Lent and the Passion, Death andResurrection of our Lord bring us interior and heartfelt movement of grace,”according to Lazo. This was recommended by the Catholic Bishops Conference of thePhilippines (CBCP), according to Jaro Archbishop Jose Romeo Lazo in a circular. For today’s traditional observance of Ash Wednesday, churchesunder the diocese would be sprinkling or dropping small portions of blessed ashon the crown of the faithful’s head instead of the marking the forehead with across using the ash. “As we begin the season of Lent, we are reminded of the constantcall for renewal in our Christian life by self-control (fasting andabstinence), generosity and charity (almsgiving) and prayer. Our charity is alsoexpressed in our concern for the well-being of our brothers and sisters, thusour utmost care and efforts towards the prevention of the spread of COVID-19,”according to Valles. “In Baptism, we have been anointed on the crown of the head. Theashes to be imposed on the crown signify our repentance from sin, which hasmarred the grace of Baptism. (The ash sprinkling) is not an innovation but inaccord with the ancient practice of the Church,” according to CBCP presidentArchbishop Romulo Valles. In Circular No. 20-05, CBCP alsostated that communions must be placed on the hands instead of putting it in themouths of the faithful. ‘YOU ARE DUST, AND TO DUST YOU SHALL RETURN’ Ash Wednesday comes from the ancient Jewish tradition of penance and fasting. The practice includes the wearing of ashes on the head. The ashes symbolize the dust from which God made man. As the priest or lay minister applies the ashes to a person’s forehead, he speaks the words: “Remember that you are dust, and to dust you shall return.” IAN PAUL CORDERO/PN Father Angelo Colada, director forSocial Communications of the Archdiocese of Jaro, said these guidelines werethe Church’s answer to the Department of Health’s appeal for all sectors totake precautionary measures against COVID-19.center_img Regarding the Good Friday practice of venerating the cross, hestated, “…we strongly recommend…that the faithful refrain from kissing ortouching the cross…Instead the faithful are requested to genuflect or make aprofound bow…” ILOILO City – Due to the threat of the coronavirus disease 2019(COVID-19), the Archdiocese of Jaro is taking precautionary measures. Then on Good Friday, April 10, the traditional kissing of thecross won’t be practiced, according to Lazo. The faithful are insteadencouraged to genuflect in front of the cross. On Jan. 29 the CBCP issued an oratorio imperata or obligatory prayeragainst the COVID-19. All churches were called on to pray the oratioin “all weekday and Sunday masses, after the Holy Communion, kneeling down.” Ash Wednesday is the start of the 40-day Lenten season. “The communion in the hand bepracticed ordinarily to help prevent further fear from people who arereasonably cautious about this matter,” a part of the guidelines read. Churches were also reminded to alwaysensure that the holy water in their stoups is clean, and provide/installprotective cloth in on the grills of confessionals. Likewise, the faithful were advised torefrain from holding hands while singing “Our Father” and shaking handsduring the portion in the Mass where the congregation makes the sign of peaceto one another. The ashes, which are mixed with holy water or oil, are made byburning Palm Sunday leaves from the previous year.last_img read more

Hughes: We are still going strong

first_imgStoke boss Mark Hughes revelled in the Potters silencing their critics both on the pitch and in the stands during Saturday”s victory over Southampton. Hughes revealed earlier this week that Stoke’s chances of qualifying for Europe via the Fair Play League were being harmed because their fans regularly sing Tom Jones’ 1968 hit ‘Delilah’. The Stoke manager said UEFA did not take kindly to the chanting of the song as it apparently created an intimidating atmosphere at the Britannia Stadium. The Stoke supporters defied UEFA and belted out the chant on Saturday and their team also upset the odds by beating one of the top teams in the league. Morgan Schneiderlin put Saints ahead in the first half, but Stoke hit back through Mame Diouf after the break and Charlie Adam completed a 2-1 victory with his volley six minutes from time. Hughes had once again defied the critics who said Stoke’s season was set to fizzle away into nothing. “I think people felt Southampton were the team that had most to play for, that’s not what we felt within the club,” the Stoke manager said. “We lost three games and drew one of the last four, but we saw again today we have a real resolve and determination to finish the season off strongly. “We have matched the most wins in the Premier League by a Stoke team. We talked about that before the game. “We have another home game to come so we will look to exceed the figure for the season. “We have goals and targets we’ve talked about for a long time and they are very much on so we are really excited by where we are.” Just like his boss, Adam has spent much time over the last few years fending off accusations that he is nothing but a brute. He went some way to answering those critics with a stunning 65-yard goal against Chelsea. And he showed superb quality to nip the ball away from Sadio Mane and fired a powerful volley past Kelvin Davis for the winner on Saturday. Hughes has been disappointed Adam’s efforts over the last few weeks have not been lauded by the critics. “Maybe Charlie has not had the credit he deserves,” Hughes said. “But I’m sure when he is sitting by his log fire with his slippers on when he’s as old and as grey as me he will be able to enjoy that time and time again.” Davis had handed Stoke their equaliser on a plate when he misjudged the flight of Steven Nzonzi’s shot, which smacked off the angle and fell straight to Mame Diouf, who swept in from close range. Saints boss Ronald Koeman refused to castigate his 38-year-old goalkeeper though. “I call it unlucky,” the Dutchman said. “I will have to watch it back. I don’t know if it was a cross or a shot, and maybe the wind was part of the difficulty for Kelvin.” Koeman cut a disappointed figure after the match, knowing that Southampton’s Champions League hopes had taken a huge blow. Hughes was the polar opposite. He chortled when asked whether he had bought Jones’ greatest hits CD for his car in light of the revelations from UEFA. “It’s on loop,” he said with a smile. Press Associationlast_img read more