List of news articles that mention First Commerce Financial, LLC.
HSH.com
4 ways to get your spouse to say ‘I do’ to a refinance
Start by defining your goals, suggests Ken Turkington, president of First Commerce Financial, a mortgage company in Wixom, Mich.
“Frequently, spouses have different opinions,” Turkington says. “Often one spouse may be more interested in payment relief, and the other spouse may be more interested in reducing the balance or shortening the term.”
Either way, it’s important to talk about the options.
“If the conversation is held jointly, the transaction goes faster and smoother,” Turkington says, adding that the result should be “less anxiety and more clarity” for both partners.
“Schedule a time to have the discussion,” he advises. “Make a point of making an appointment to discuss it, whether it’s five minutes or 15 minutes.”
Published November 23, 2011 | HSH.com
FOX Business
How to Get a Home After a Foreclosure
The waiting period can last one to seven years, says Kirk Chivas, chief operating officer at First Commerce Financial in Wixom, Mich.
Technically, it is possible for a buyer whose prior loan wasn’t in default at the time of a short sale to get a new FHA-insured loan with no waiting period at all, Chivas says. But he adds that he’s never encountered anyone in that situation.
Credit dings can be difficult to sort out for buyers who experienced a loan modification or short sale, in part because, as Chivas says, there’s “no consistency” in how lenders report those events to the credit bureaus.
“They may think they’re fine, but if they’re not talking to a professional, their hopes can get dashed or crushed,” Chivas says. “That’s why you want to speak to someone as soon as you start dreaming it up in your head” that you want to buy a home after a bankruptcy, foreclosure or short sale.
Published October 11, 2011 | Bankrate.com
Bloomberg.com
Banks Block Obama’s Mortgage Stimulus Plan
Kirk Chivas, chief operating officer for First Commerce Financial, a mortgage broker in Wixom, Michigan, said HARP’s success is vital because it’s one of only a few lifelines for responsible borrowers.
“When people who have great credit and pay bills on time complain to me, ‘Where is my bailout?’ I say this is your program,” said Chivas, who’s helped more than 100 borrowers refinance through HARP.
Published August 16, 2011
FOX Business
Underwater Homeowners Have Longer to Refi
The (HARP Guidelines) window is still a stopper for some homeowners, according to Kirk Chivas, chief operating officer of First Commerce Financial in Wixom, Mich., which closed 60 HARP refinances last year.
“I wish they didn’t have it (only) through May 2009,” he says. “I wish it was a forever thing, or at least up through 2010 May, because home values were still declining.”"The claims of this particular program (HARP) being a disaster are, I believe, completely inaccurate,” Chivas says.
Published May 09, 2011 | Bankrate.comLeave a Reply
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