The Situation: A first-time homebuying couple was ready to purchase their $800,000 dream home, putting 20% down. Great credit, solid income, and plenty of assets—on paper, they were ideal borrowers. One of them even worked for a major bank and expected VIP treatment with a smooth approval process.
The Issue: I spotted a subtle but critical property concern that their…
THE SITUATION: A tech executive was being transferred to New York City and, with his wife, began house-hunting in Westchester County. His financial advisor at Merrill Lynch referred him to a mortgage rep at Bank of America. He found a home, went to contract, and began the mortgage process.
THE PROBLEM: Despite pressure from his advisor to use Bank of…
THE SCENARIO: A successful investor wanted to expand his portfolio into real estate. While browsing properties, he encountered an overly eager real estate agent pushing a condo purchase. Fortunately, his CPA urged him to speak with me first.
THE PROBLEM: During our consultation, I reviewed his finances and investment qualifications. I emphasized one essential rule: every rental property must generate…
SCENARIO: Borrower was purchasing a multi-family property for investment purposes. He was a sophisticated investor, already owned multiple properties, and he was self-employed. This borrower owned and operated multiple companies and received income from twenty different entities, all which filed tax returns every year. This borrower felt he was a high-income earner. His credit was excellent. Plus, his investments and…
SCENARIO: First time buyers are looking for a home on Long Island’s north shore. Recently married and already expecting their first child, he is a rising star at his exclusive law firm. His income is projected to rise dramatically over the next several years.
PROBLEM: While his financial future looks bright, his current income is making it difficult to afford…
SCENARIO: A frugal young couple had worked and saved diligently, investing wisely, and living within their means to someday purchase their first home. When the time came, their Realtor recommended they work with Warren Goldberg of Mortgage Wealth Advisors.
PROBLEM: Home values on Long Island appreciated significantly, causing anxiety over high monthly mortgage payments. Their substantial investment portfolio could be…
SCENARIO: This homeowner worked with Mortgage Wealth Advisors when he purchased his home two years ago. At the time, rates were higher, and her house has realized significant appreciation since she closed! Over the past two years, Warren Goldberg has stayed in touch with her, checking in from time to time, offering advice and assistance when he could.
PROBLEM: This…
SCENARIO: An elderly couple could no longer manage the stairs or upkeep of their large two-story home. After selling it, they hoped to purchase a small ranch near their children. Unfortunately, they didn’t qualify for a mortgage. Their son stepped in, offering to purchase the home and be the mortgage borrower on their behalf.
PROBLEM: The son turned to his…
SCENARIO: Sixty-two-year-old homeowner is retiring. He must remain in his home for another five to ten years before he sells and moves to a modestly priced retirement community in the south. Yet his income will drop from his $100,000 salary to just $40,000 per year.
PROBLEM: His retirement budget requires $80,000 per year cashflow, at least until he sells his…
SCENARIO: Borrowers were recommended to me by their real estate agent. These borrowers were purchasing a new home. Rates were rising and they were extremely anxious about their new mortgage payment. They informed me the maximum payment they could afford was $3,500 per month.
PROBLEM: These borrowers were purchasing a home at the maximum of their budget. The anxiety of…
