Don’t Risk Your Credit Score In Retirement – WBRC FOX6 News – Birmingham, AL

Cancelling infrequently used credit cards may seem like a good strategy, but your credit score may be adversely affected. Adam Carroll, Founder and Chief Education Officer of National Financial Educators, explains: “When you have a long-standing trade line, which is what a credit card is considered on your credit report, and you cancel that card for whatever reason, your score will actually go down as a result because one of the main impacts on your credit score is the length of credit history.” A shorter credit history translates to higher risk in the eyes of lenders.

Sean McQuay, Credit and Banking Expert at NerdWallet, agrees but includes another reason to keep older cards, noting that closing a card account results in “decreasing your overall credit line, which basically signals that a bank trusts you less.”

In addition to decreasing your overall credit line, closing an infrequently used account raises your credit utilization your total credit in use compared to your cumulative credit line. High credit utilization suggests a greater chance of falling behind on payments and/or defaulting on debts.

To avoid these pitfalls, make periodic small purchases on all your open credit cards to keep them active and pay the balances in full at the end of each billing period. By keeping credit spending low, you can still address debts while getting the full benefits of your credit account.

It’s okay to concentrate most of your credit spending in one account to maximize rewards. Just use alternate accounts often enough to keep them from being closed for lack of activity.

Source: Don’t Risk Your Credit Score In Retirement – WBRC FOX6 News – Birmingham, AL

Reverse Mortgage Primer: A Realtor’s Notes

For Homeowners Over 62, a Reverse Mortgage Could Address Some Financial Needs

Jim Smith Golden RE Logo

Recently our agents and I received training on Home Equity Conversion Mortgages (HECM), better known a “reverse mortgages.” These loans can be taken out on your current home or used to purchase a new home. What makes them particularly attractive is how they can turn your home from an expense (if you have a mortgage currently) into a source of money for the rest of your life after age 62.

In a normal mortgage, you have monthly payments of PITI—principal plus interest plus taxes and insurance. With a reverse mortgage, the principal increases instead of decreases because the principal and interest is being drawn from the equity you have in your house.

If you have longevity in your genes and don’t need to leave the value of your house to your heirs, this can be a good solution because no matter how long you live, as long as you continue to live in your house, you will never be “upside down.” The mortgage continues to be paid even after your equity is used up.  When you die and the house is sold by the lender, any shortage in payoff is covered by the mortgage insurance which is built into the loan.

This scenario is not for everyone, but it has enough advantages that it is worth speaking with a reverse mortgage specialist who can study your financial situation and help you decide if a reverse mortgage is right for you.

We had such a specialist — James Spray of, dba The Mortgage Company — speak to us and answer such questions as:

What happens if both husband and wife are on the mortgage and one of them dies? The surviving spouse can stay in the house until he or she dies.

What if you go into assisted living? Once all borrowers on the loan no longer live in the house, the loan must be paid. If there’s still equity in the house, it can be listed and sold just like any other house, and the loan is paid off.  If the equity has been exhausted and you’re “under water,” then you deed the home over to the lender and walk away not owing anything.

What if a son or daughter wants to buy the house? They can buy the house, with the loan paid off at closing, but if the house has negative equity, they can buy the house from the lender for 95% of its appraised value, regardless of how large the principal had grown.

Are property taxes and insurance escrowed? No, you must pay those directly, along with any HOA dues.

Can you take cash out when you refinance with a reverse mortgage? Yes, depending on your age, you can take out half or more of your home’s appraised value when you refinance into a reverse mortgage. The older you are, the more you can take out, based on actuarial tables. That’s why I say that if you have longevity in your genes, you could take out your full equity in your home before you die and continue to live in the house until all borrowers die without making any mortgage payments again—just taxes, insurance and HOA dues.

Can I sell my house and downsize? You should do that before you take out a reverse mortgage. Sell your house now, buy your perfect “forever” home, and finance it with the reverse mortgage, putting down only the minimum down payment based on the actuarial tables.  Keep the other proceeds from the sale of your current home as cash to spend, save or invest as you wish.

What about Social Security?  As you know, you get a much higher Social Security payment if you wait until age 70 to start drawing it.  Refinancing or purchasing with a reverse mortgage at age 62 could make it possible by lowering your living costs for you to wait until age 70 to start drawing Social Security.

What if my credit isn’t very good? Unlike with a regular mortgage, credit is not a factor in approving a reverse mortgage, barring recent bankruptcy or other derogatory factors. You need only prove that you’ll be able to keep paying the taxes, insurance and HOA fees (if any) on your home. Not doing so risks foreclosure.

You probably have many other questions.  If I can’t answer them for you, I’d be happy to connect you with Jim Spray or another specialist.

Jim Smiths Sig for blog

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The above article is to be/was published in the Denver Post on September 8, 2016 by Realtor Jim Smith of Golden Real Estate, Inc. His office is located in Jefferson County, Colorado. It is reprinted here with permission/blessings of the author.

Financially Speaking™ James Spray RMLO, CNE, FICO Pro | CO LMO 100008715 | NMLS 257365 |September 2, 2016

Notice: The information on this blog is opinion and information. While I have made every effort to link accurate and complete information, I cannot guarantee it is correct. Please seek legal assistance to make certain your legal interpretation and decisions are correct for your situation. This information is not legal advice and is for guidance only. You may reproduce this information in whole and not in part, providing you give full attribution to James Spray.

Romance and Credit Scores


In addition to getting the best employment and the lowest interest rate on everything financed, including credit cards, home and auto loans, the prime potential partners in the dating pool are quickly thinned of those with inferior credit.

This is clearly highlighted in a post made by the Credit Slips summary of a Washington Post article which examines the working paper recently published by the Federal Reserve titled Credit Scores and Committed Relationships.

Barron’s Market Watch recently published an article titled, Nearly 40% of Americans want to know your credit score before dating. In part, this phenomena was summarized by University of Kansas Communications Professor Jeffrey Hall who stated,

By showing an interest in these three digits, people are probably being smart rather than shallow, says Jeffrey Hall, associate professor of communications at the University of Kansas. “Finances, education, and job prospects all factor into the value of a potential mate,” he says. “Assuming that people can actually interpret a credit score meaningfully, it makes sense they would think a credit score is useful in evaluating mate value.”

“…In fact, the higher your credit score, the less likely you’ll separate from your partner — and a lower score often means you’ll be less lucky in love, researchers at the Federal Reserve Board, the Brookings Institution and UCLA recently concluded.”

Your credit score has become such a popular character-meter that there are dating services based on them. A 2015 academic study found that “quality in credit scores, measured at the time of relationship formation, are highly predictive of subsequent separations.” The research suggested “credit scores reveal an individual’s relationship skill and level of commitment.” How More Americans Are Getting a Perfect Credit Score Bloomberg Suzanne Woolley, August 14, 2017.

I think it’s safe to predict that more and more people in the dating pool will become savvy to the benefit of checking one’s credit score before entertaining the possibility of a committed relationship.

Image Attribution

Financially Speaking™ James Spray RMLO, CNE, FICO Pro | CO LMO 100008715 | NMLS 257365 | Published November 13, 2015 – Updated August 16, 2017

Notice: The information on this blog is opinion and information. While I have made every effort to link accurate and complete information, I cannot guarantee it is correct. Please seek legal assistance to make certain your legal interpretation and decisions are correct for your situation. This information is not legal advice and is for guidance only. You may reproduce this information in whole and not in part, providing you give full attribution to James Spray.

QWR: The RESPA Letter


Federal Reserve Board Building

Federal Reserve Board Building

QWR: The RESPA Letter

Most reading this post are reading it for a particular reason which is to learn about writing a letter to a mortgage lender and/or servicer regarding a specific problem or situation such as requesting the mortgage servicer report your payments to the credit bureau(s). For some, it may be that your mortgage servicer or bank is reporting incorrect information or you may need specific documentation. For others, perhaps this is being read for informational purposes. In any event, we trust the reader finds this information helpful.

 Step 1. Contact your mortgage servicer for the correct address for legal correspondence. You must use the legal (registered) address of the servicer. Some servicers actually have a specific address for a Qualified Written Request (QWR). This is  a different address than where you mail the payment or from where you get the periodic statements or notices. This procedure was established per the Real Estate Settlement Procedures Act (RESPA).

 Step 2. You may utilize the following template provided by HUD for your QWR. Or you may click here to open and read the information or you may copy and paste the pertinent paragraphs (opening and closing) as show below. Focus your thoughts and keep your letter brief and specific to the topic. less-is-more -

“Attention Customer Service:

Subject: [Your loan number]

[Names on loan documents]

[Property and/or mailing address]

This is a “qualified written request” under Section 6 of the Real Estate Settlement Procedures Act (RESPA).

I am writing because:

  • Describe the issue or the question you have and/or what action you believe the lender should take.
  • Attach copies of any related written materials (as applicable).
  • Describe any conversations with customer service regarding the issue and to whom you spoke.
  • Describe any previous steps you have taken or attempts to resolve the issue.
  • List a daytime telephone number in case a customer service representative from the legal department  wishes to contact you.

Sincerely, [Your name – Printed and Signed]

I understand that under Section 6 if RESPA you are required to acknowledge my request within 5 business days and must try and resolve the issue within 30 business days.”

If you are satisfied with the resolution to your situation, you may wish to compliment the servicer by sending a note to the Consumer Financial Protection Bureau (CFPB or Bureau) via their Comment Form.

Step 3. Send your QWR via Certified Mail Return Receipt. Keep copies of your letter and any enclosures as well as your Certified Mail Receipt from the post office and the Return Receipt from your mortgage servicer proving they have received your QRM

Finally, if you are still unable to resolve the situation, there is a complaint process that may get action. We suggest this be your last and not first step as you will then have evidence which will indicate to the Bureau that the servicer is either unwilling or unable to address your situation. Mortgage Complaint Form

There’s a New Sheriff in Town?????????????????????????????????????????

The following is excerpted from the prepared remarks of Steven Antonakes, Deputy Director of the CFPB which he presented to the Mortgage Bankers Association National Mortgage Servicing Conference in Orlando, Florida on February 19, 2014.

“…My message to you today is a tough one. I don’t expect a standing ovation when I leave. But I do want you to understand our perspective. I would be remiss if I did not share it with you … if you choose to operate in this space (mortgage servicing), the fundamental rules have changed forever. It’s not just about collecting payments. It’s about recognizing that you must treat Americans who are struggling to pay their mortgages fairly before exercising your right to foreclose. We have raised the bar in favor of American consumers and we are ready, willing and able to vigorously enforce that bar.

Ultimately, these profound changes will be good for all Americans, including industry. But please understand, business as usual has ended in mortgage servicing. Groundhog Day is over. Thank you.”

Sheriff – Update

In a June 22, 2016, Press Release, the CFPB said, in part: “In 2013, the CFPB established mortgage servicing rules designed to protect consumers against many of the practices that plagued the mortgage servicing industry during and after the housing crisis.

According to the CFPB, the rules require servicers to maintain accurate records, give troubled borrowers direct and ongoing access to servicing personnel, promptly credit payments, and correct errors on request.”

In addition to sending your RESPA letter, do not hesitate to file a complaint, with the CFPB. Click here for the particular complaint link.

The Bureau’s Enforcement Power – One Example

As an example of the Bureau’s enforcement authority, RealtySouth™, a Berkshire Hathaway Affiliate, was recently fined $500,000.00 for a RESPA violation which amounted to failure to disclose their affiliated business relationship(s) to consumers. This is a typical example of the enforcement action undertaken by the Bureau as one may readily determine with an Internet search. For those who don’t recognize the name Berkshire Hathaway, it is largely owned by one of the world’s wealthiest persons. Clearly, wealth does not buy immunity from the CFPB.

Exceptions to QWR: Those transactions excluded from the QWR are limited to “(1) subordinate lien loans or (2) open-end lines of credit subject to TILA, whether secured by a first or subordinate lien.”* Further, “(a) request does not constitute a QWR if it is delivered to a servicer more than one year after either the date of transfer of servicing or the date that the mortgage servicing loan was paid in full, as applicable.”*

NOTICE: I am not an attorney nor am I providing legal advise. This post is for educational purposes only. The images are for illustration only and not meant to imply in any way an endorsement or authorization by any government agency or authority of this blog or this post.

* Jonathan Foxx, President & Managing Director Lenders Compliance Group

Image Attribution: and  CFPB

Financially Speaking™  James Spray, RMLO, CNE, FICO Pro | CO LMO 100008715 / NMLS 257365 | Rev. April 27, 2018

 Notice: The information on this blog is opinion and information. While I have made every effort to link accurate and complete information, I cannot guarantee it is correct. Please seek legal assistance to make certain your legal interpretation and decisions are correct. This information is not legal advice and is for guidance only. You may use this information in whole and not in part providing you give full attribution to James Spray.

The Chapter 13 Payment

That which matters is when your payment is posted to your account in the moth it is due. For example, if the payment is due in December, it must be posted in December.

While your Chapter 13 payments are not reported to the credit bureaus, when you apply for a mortgage (refinance or purchase) while in a Chapter 13 Plan or within two years of your bankruptcy Discharge, your Chapter 13 payment history will be reviewed by the underwriter. This review will consider your Chapter 13 payment with the same weight as a mortgage payment.  Just one 30-day late payment will disqualify an otherwise approvable loan applicant.

Exactly What Is A 30 Day Late Payment?

To illustrate, let’s say your payment is due on December 25th. Your payment has always been made on the 25th. In fact, your November 25th payment was received by the Trustee and posted in November as it was since your first payment. However, your December 25th payment was not posted until January 2nd. Oops, you now have a 30-day late payment.

The Payment Was Sent the Same Day as Always

We understand. However, the underwriting guidelines do not understand accidental, postal or electronic delays. Indeed, the system can be harsh. Being armed with this knowledge allows you to plan for the unexpected.

Rehabilitation Expectation – Minimum of 12 Months On-Time Payments

A minimum of twelve consecutive months of on-time payments immediately prior to applying for mortgage credit is essential for approval. This supposes that all payments have been posted on time with the Trustee’s office. However, there can be an exception of a 30-day late during the payment period so long as that isolated incident is not within the last twelve months. The exception of a 30-day late payment or an interruption of on-time monthly payments must be documented and sourced as completely outside the control of the debtor.

The Blizzard Made My Payment Late

A few years back, one of my prospective Chapter 13 home buyers diligently worked to get into a position to be approved for a new home loan. By way of background, at the time he lived in a cabin at St Mary’s Glacier. That year, there was a particularly severe snow event which left my prospective client snow-bound for several days. Still, his payment to the Trustee was only one day late. We argued that this was an Act of God and entirely out of my prospective client’s control. This held no sway with the underwriter and my prospective borrower was not approved. In the interest of full disclosure, this prospective client had another 30-day late payment about 15 months prior to the blizzard. The ‘Act of God’ defense might have worked had the previous late payment not been of record.

Automatic Bill Pay – Be Aware

Those of us that use on-line bill pay through our credit union or bank love the convenience. No stamps, no envelopes and no checks are but a few of the nice features. While in a Chapter 13 bankruptcy repayment plan, set your payment date early enough so there is sufficient time for the Trustee’s office to 1) receive your payment and 2) post your payment. Be aware of Federal holidays and back your payment date up a couple of extra days to make sure you never have a Chapter 13 late payment.

The Trustee’s Staff Said a Late Payment Is OK

We understand. While a single late Trustee payment (or two) will generally not cause for a Chapter 13 to be problematic or Dismissed, keep in mind, the Trustee is not your mortgage loan originator or mortgage lender.

The Trustee said it is ok do pay my Plan payments ahead of time. Talk to your attorney, this could be a problem.

What Is the Take Away of This Post?

For those with payments due to be in the Trustee’s office near the end of the month, we strongly suggest that you mail your payment a few days early every month to help ensure the payment is posted in a timely manner. Better yet, set the bankruptcy payment to be made via payroll deduction. If payroll deduction is not available, schedule an automatic monthly payment via your on-line banking.

Unpaid Mortgage Payments Can Cause a Discharge to be Denied

As discussed above, on time mortgage and Chapter 13 payments are essential to a successful plan. Let’s say one is nearing the final month or so of their Chapter 13 Payment Plan and the Trustee learns the mortgage payments, which were to have been paid outside the Chapter 13 Plan, were not paid as agreed. The Discharge can be denied and instead after all this time, the case is Dismissed. A Dismissed case is a failed Chapter 13 from a mortgage underwriting standpoint.

We wish you success with your Chapter 13 Payment Plan!

Image attribution

Financially Speaking™  James Spray, RMLO, CNE, FICO Pro  | CO LMO 100008715 | NMLS 257365 |December 2, 2013 | Updated January 10, 2018 | Copyright 2013-2018

 Notice: The information on this blog is opinion and information. While I have made every effort to link accurate and complete information, I cannot guarantee it is correct. Please seek legal assistance to make certain your legal interpretation and decisions are correct. This information is not legal advice and is for guidance only. You may use this information in whole and not in part provided you give complete attribution to James Spray.

Boomerang Buyers – Welcome Home!

boomerangAs was written so eloquently by John Rebchook of Inside Real Estate News in his June 20, 2013 article Boomerang Buyers return to market , “Tens of thousands of home owners who lost their homes in the Denver area during the Great Recession may now be qualified to once again buy a home.

“’Depending on the loan program the formerly distressed home owner had, the circumstances of the default and efforts made to improve their credit scores, they may be able to qualify for a new mortgage in one year*,’” said Jim Spray, a veteran lender… ‘“A large number of industry professionals, including me, are calling these Boomerang Buyers…’”

Homeowners are returning to the housing market following a short sale, foreclosure or deed-in-lieu of foreclosure. This phenomenon of rebound or boomerang buyers is not without critics, but they enjoy the strong support of Housing and Urban Development Secretary Shaun Donovan, who was quoted in a November 2012 Denver Post article titled FHA providing buying opportunities to those who defaulted on homes, “the FHA has tightened its standards significantly but must still lend to those who wouldn’t otherwise qualify for a mortgage. It’s crucial for families to ‘show that they are responsible, that they have worked hard to reestablish their credit.’”

Simply becoming eligible based on the mandatory mortgage market time-out does not by itself mean that buyers will necessarily qualify to be approved for a mortgage. Lenders require borrowers to have strong FICO®  scores and qualify with sufficient acceptable income. An excellent tool to help determine your FICO score range is the FICO® Score Estimator. If it is not a FICO Score, the chances are the score is what I call a FAKO Score.

The Chart Of Facts: How long after bankruptcy or foreclosure must you wait to get a mortgage?

FACT: One can qualify for a new home purchase loan three years after a short sale, foreclosure or deed-in-lieu of foreclosure. Such requires a proactive approach by the borrower.

FACT: One can qualify for a new home purchase loan just two years after a Chapter 7 Discharge. Again, this requires a proactive approach by the borrower.

The number of potential Boomerang Buyers, just in Colorado is substantial. There were 42,692 foreclosure filings in the state in 2010 and 27,113 Chapter 7 Bankruptcy cases filed.  Giving people a second chance — even a third chance — is as deeply ingrained in the American psyche as is owning a home, the American Dream. Welcome home Boomerang Buyers!

 Boomerang Buyers Are Expected To Boost The Economy In 2014

According to a poll of and’s members:

  • 79 percent of those who lost their homes are interested in buying again.
  • 41 percent have incomes higher than when they first purchased.
  • 63 percent report that their other debt obligations are lower (30 percent said “significantly lower”).
  • 46 percent report the desire to purchase in a lower price range, and 29 percent report wishing to purchase in the same price range.

According to an article in Bloomberg Businessweek, it is possible that rental payment reporting may become a part of certain credit reports; time will tell is this information is accepted by the mortgage giants Fannie Mae and Freddie Mac.

Update: As reported in Distress Servicing on July 25, 2016 under the headline – Boomerang Buyers Bounce Back

It was also reported that boomerang buyers are, on average, four times more likely to finance with FHA loans than traditional non-distressed, owner-occupied repeat buyers. FHA loans are, as a general rule, easier to obtain than conventional loans for cash-strapped borrowers with past foreclosures in their credit history because FHA guidelines allow potential borrowers to apply for a loan three years after the foreclosure sale date with a minimum 3.5 percent down and a credit score of at least 580.” Click here for the full article.

Image attribution

Financially Speaking™  James Spray, MLO, CNE, FICO Pro | CO LMO 100008715 | NMLS 257365 | Updated August 1, 2016

 Notice: The information on this blog is opinion and information. While I have made every effort to link accurate and complete information, I cannot guarantee it is correct. Please seek legal assistance to make certain your legal interpretation and decisions are correct. This information is not legal advice and is for guidance only. You may use this information in whole and not in part providing you give full attribution to James Spray.

*Correction from two years to one year made on 8/20/2013.

Internet Mortgages: Are Ya’ Feelin’ Lucky?


This is a true story involving one of my clients. This is not about one of my mortgage customers. This is a client who hired me as an expert witness. He brought me aboard to help clear up a mess created when he sought and was approved for a mortgage refinance via an out-of-state lender he found on the Internet.

We’ll call my client Jed (not his real name). He determined that it was time to refinance and take advantage of the lowest mortgage interest rates in history. He searched the Internet, found a lender and applied for a plain vanilla, no-cash out, rate-term refinance. In other words, he simply wanted to shorten his loan from 30 to 15 years and get a lower interest rate.

Everything on the Internet is true… Right?

Jed found an out-of-state Internet lender who, for discussion purposes, we’ll call KwikNEZeeLoans.k0d (KNEZL)*. Jed researched KNEZL as best he could prior to submitting his refinance loan application. Not surprisingly, the information Jed was able to gather on the Internet about KNEZL was positive. Indeed, they have a high powered CEO who, prior to founding this company, had an impressive track record with one of the original Internet mortgage lenders. As we all know, everything on the Internet is true.

The initial interest rate offered was great! Almost unbelievably great, as the rate offered was 2.5% while most others were quoting rates in the range of 2.75/2.875% for Colorado at the time of his loan application.

Rate increase was not surprising.

Sufficient groundwork has been established, so let’s jump to one of the endings – indeed, the most obvious ending. You are quite right, perceptive reader; Jed did not get the initially promised deal. He ended up with an interest rate of 2.75%. Although a great rate, it’s not the rate initially offered. However this was not the most disturbing problem and the rate bump wasn’t really a huge surprise.

Was this attempted theft by conversion?

Let us now get to the real thrust of this story, and why Jed hired me in the first place. Jed paid his original lender the August payment. Jed’s loan with the Internet lender closed in August. The payment to Jed’s original lender was shown on the HUD1 Settlement Statement at closing as a credit to reduce the principal balance. In fact, it was not credited to the principal so he paid, in essence, an unearned bonus to the Internet lender in the amount of his entire monthly mortgage payment – principal, interest, taxes and insurance in the amount of about $2,500.00. Note that this amount was disclosed, just not credited in fact for Jeb’s benefit. Had this error not been corrected, it is conceivable this could be considered theft by deception and may have required a lawsuit to resolve. On such a lawsuit, it is possible the damages could have been trebled as well as having all legal fees paid. In such a situation as this, where an expert is required, it is typical for the expert fees to be paid along with all other legal fees including attorney fees and court costs.

Or just an honest mistake?

On the surface, one could have observed this Internet lender casually pocketed Jed’s August payment and only properly credited it for him when two events occurred. First, I had been retained to investigate the transaction. And second, upon my strong suggestion, Jeb filed a complaint with the Consumer Financial Protection Bureau (“Bureau”). The Bureau is perceived as being the nine hundred pound gorilla charged with protecting consumers of virtually all financial services conducted in the United States.
I am truly hopeful this oversight was not done as a normal course of business by this Internet lender. If this was deliberate, such activity is outrageous as very few customers would ever notice such deceptive accounting as the correct amount was printed on the Settlement Statement. As such, all appeared to be straightforward and honest.

The rest of the story.

Jeb’s loan closed in August 2012. He was concerned that the August payment he made to his former lender prior to the closing was not reflected on his final statement from the previous lender. The funds appeared to have vanished. He began writing letters to his new lender and his former lender attempting to get an accounting of his missing money. He received no responses from anyone. His phone calls were likewise ignored. Out of exasperation he called me in late October and explained the situation. I suggested that rather than engage me, just yet, he should go around all the middle people and write directly to the CEO of his new lender to see if he could get satisfaction. By the time he hired me in early December, he still could not get a response from his new lender. After four months he was fed up with getting the complete brush off. He was quite ready for me to document the problem(s) in order to file a lawsuit and force the issue into open court. For what it’s worth, KNEZL reimbursed Jed for my fees.

Jed is very detail oriented and a sophisticated borrower. 

He knew something was wrong, just not what it was. Rightly, he sought the help of an expert to help find exactly what was wrong. Frankly, though, no one should have to hire an expert to audit the closing trail to assure that the promised refinance was delivered as promised.

* KwikNEZeeLoans.kod (KNEZL) is a fictional name created entirely from my imagination.
Image attribution
Financially Speaking™ James Spray, MLO, CNE, FICO Pro 
CO LMO 100008715 | NMLS 257365 | January 11, 2013
Notice: The information on this blog is opinion and information. While I have made every effort to link accurate and complete information, I cannot guarantee it is correct. Please seek legal assistance to make certain your legal interpretation and decisions are correct. This information is not legal advice and is for guidance only. You may use this information in whole and not in part providing you give full attribution to James Spray.