Weekly Mortgage Memo
Today’s Topic: Rental Income
Sometimes our clients want to rent their primary residence and buy a new home. They generally
assume they can count the rental income to offset their mortgage payment. That was the case
prior to 2008 but since then it’s gotten much tougher. If they can’t count the rental income it
can be tough on the ole’ debt to income ratio (DTI) for our client to have two house payments
counted against them. Here then is the matrix (imagine that) of what has to happen for our
client to count future rental income from their current residence.
Loan Type Documented equity in Result Reserve Requirement
their existing property
Info provided by Tom Davies
We Americans should never forget the sacrifices veterans made to protect our way of life. Thank you to all the veterans that have served our country and protected our freedoms. We will forever be thankful! Happy Veterans Day!
On-line sales for general admission tickets have closed but tickets can always be purchased at the door. You can stop by the Junior League office Monday – Friday between 9 and 2 to purchase your tickets at 1001 N.W. Grand Blvd. Oklahoma City, OK 73118 Phone (405) 843-5668.
Wednesday, November 5 – Preview Party
6-10pm – $50 per person
Tickets can still be purchased on-line here or by calling our office.
Breakfast with Santa – please call 405-843-5668 for availability.
General Shopping Hours:
Thursday, November 6 – 9am to 8pm
Friday, November 7 – 9am to 8pm
Saturday, November 8 – 10am to 5pm
General Admission tickets are $8 per person and $5 for seniors over 65 and children between the ages of 3-12.
Halloween and Trick-or-Treating is this FRIDAY! Are you prepared to pass out candy or take your kids in Trick-or-Treating?! Turn your front porch lights on if you are passing out candy to children and turn your lights off if you are not! Halloween provides a day to dress up, get some exercise going door to door, hang out with friends, go to festivals and go to parties!
Pointers for Trick-or-Treaters:
- Don’t eat too much candy!
- Wear reflective tape or carry a light
- Wear a costume that fits to prevent tripping
- Plan your route in advance
- Wear comfy shoes
- Look before crossing the street
- Children should walk from house to house with an adult
- Sword, sticks, and other costume accessories should be short, flexible and soft
- Examine all treats to make sure they haven’t been tampered with or to make sure there is not a chocking hazard
- Don’t ever enter a home for safety
If you are driving the night of Halloween PLEASE watch out for kids going from house to house and drive SLOW!
HOPE YOU HAVE A HAPPY HALLOWEEN!!!