Dodd-Frank Laws To Be Repealed by Trump. Should Encourage Home Purchases

Back in January 2015, the Dodd-Frank banking and lending laws were enacted by the Obama administration and implemented into the Real Estate industry nationwide as a way to reel in the lackadaisical practices that led to global financial meltdown of 2008.

dodd-frank-semper-find-my-home-blogTo say that that it was a knee-jerk overreaction to a problem that did exist would be putting it mildly.  Instead of applying thoughtful, just and practical solutions and laws, it swung the pendulum so far the opposite way that it restricted and strangled money lending and the procedures associated with them.

Of course, regulations are always the answer right!  The law also created the Consumer Financial Protection Bureau (CFPB).  The Trump administration has vowed to dismantle the Dodd-Frank Act and replace it with policies to encourage growth and job creation.

The Trump administration has a blueprint to replace Dodd-Frank called the Financial Choice Act and while it won’t replace the original act, what it will do is ease some of the restrictions it has had on people borrowing money to purchase new homes.

As a realtor here in Phoenix to Veterans and First Responders, many who are first time home buyers, have been unable to purchase a home because they can’t quality due to Debt To Income issues, or other disqualifying reasons that wouldn’t have been there prior to Dodd-Frank.

We view this as a positive step to revitalizing money lending which will create jobs and enable more first time home buyers to get a slice of the American dream.

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Phoenix VA gets 6th Director in last 2.5 years.

I recently wrote a blog on my other site that discusses the newly appointed VA director of the Phoenix VA hospital.  RimaAnn Nelson was the former director of the St. Louis VA facility that was mired in scandal after scandal.  It is a travesty that she’s been allowed to keep her job much less run a facility that cares for over 85,000 veterans.

va-home-loan-semper-find-my-homeIt is a travesty that she’s been allowed to keep her job much less run a facility that cares for over 85,000 veterans.  Veterans here in Phoenix, and the surrounding areas, such as Scottsdale, Peoria, Mesa, Buckeye, Glendale and pretty much the entire Phoenix Metropolitan area, rely on the Phoneix VA for a variety of reasons.

At Semper Find My Home, we work with veterans at the VA facility here in Phoenix, by helping them with all their real estate needs and by educating them about their benefits and how to maximize their usage.  The VA loan is the best loan by far out there and every vet needs to utilize it for all their real estate transactions.

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Another Scandal and Blow To VA HealthCare, Left Deceased Veteran in Shower For Hours

In what is becoming a reoccuring problem with the Veterans Affairs and the VA treatment of veterans, another report has come out that desribes whatt the VA staff did at a Veteran’s Hospital in Florida.

From Fox News the following “An internal report blames staffers at a Veterans Affairs hospital in Florida for leaving the body of a deceased veteran to decompose in a shower for nine hours and then trying to cover it up.


Dept of Veteran Affairs Bay Pines FL.  Photo courtesy of Fox News

The 24-page report concluded that hospice staffers at the Bay Pines VA hospital failed to provide appropriate post-mortem care to the veteran’s body, Fox 13 Tampa reports.

The report found hospice staff put the veteran’s body in a hallway and left it there for an unspecified time, the station reported. Staff then put the veteran’s body in the shower room and did not “check on the status of the decedent…for over nine hours.”

This needs to stop and be rooted out, as this phenomenom is occuring too often at the expense of veterans and their families.

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75th Anniversary of the Attack on Pearl Harbor


Alex Popovic (white coveralls) diving right of the USS Arizona in Pearl Harbor Hawaii as a Force Reconnaissance Marine

Alex Popovic, the founder and owner of Semper Find My Home, recently wrote a blog on his personal website  Please take a moment to read some amazing statistics regarding the attack on Pearl Harbor.  And never forget those who perished on that fateful morning.

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How Can a Veteran Improve Their Chances of Getting a VA Loan?

I’m often asked by friends of mine who are veterans to help them out during the process of purchasing their home. I actually just helped a veteran here in Phoenix, Arizona with a  VA Jumbo loan and we both learned something new during his lending process.

Remember fellow veterans, your VA home loan depends a lot on your Debt To Income ratio, more commonly known as DTI, and just like regular loans they determine whether or not you qualify and for how much. Take a look heveterans-day-ceremonyre at how it’s determined.

Dodd/Frank laws that came into effect in 2014 dramatically changed the lending process and landscape for the entire industry.  They now require lenders to ensure borrowers the “ability to repay” a mortgage.  DTI ratios and other criteria have made qualifying for a loan a lot more stringent and difficult. Gone are the days of NINJA loans…..remember those?  No Income No Job/Assets?

The acceptable Debt To Income ratio for a VA loan is 41% and credit plays a huge factor. I’ve seen personally a veteran who was approved for a loan with a DTI ratio in the 60% range, however, the underwriter has to explain the reason behind approving the loan.  Not to say it can’t be done.

So veterans, just because we’re entitled to a VA loan doesn’t mean we’ll be approved for one. Work with your Realtor® who probably has excellent relationships with lenders.  At Semper Find My Home we work with the Belmont Group, Matt Belmont happens to be a fellow Marine Veteran  who works closely with all my clients to ensure we maximize your experience and utilize your VA benefits to their fullest, he’s awesome!

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Welcome to Semper Find Home Phoenix’s Best Veteran Real Estate Company

Semper Find My Home is finally live and reaching out to veterans, first responders and the entire Phoenix Real Estate Community.  It’s been a while getting here, due to us being so busy,  but you know what they say, “better late than never.”  Stay tuned for a ton of information we will be posting and dissmenating regarding using the VA loan, which happens to be the best product ever created, and other really useful bits of real estate information.semper-find-my-home-logo

You can follow Alex Popovic on Twitter or Instagram