BRIERCRIER
July
25, 2014, at Orfino's Restaurant, of Briarcliff Manor Rotary Club
Meeting.
TODAY IN
HISTORY
64AD: The
Great Fire of Rome began, consuming most of the city. It burned for
about a week.
MEETING
LEADER: President Eric Lebenson
PRAYER:
Scott Lanoff
ROTARIANS
PRESENT AND HAPPY THOUGHTS: 17 Rotarians present. Zen, last
appearance at Rotary Meetings, so he shook hands with each of those
present; Plus other happy thoughts not completely recorded.
GUESTS: None
SPEAKERS
AND SUBJECT: Mortgage Update II via Scott Lanoff.
SUMMARY OF
TALK
Scott
delivered a very abbreviated “Mortgage Update 2.0 talk
He
discusses a perspective self-employed purchaser scenario where
regardless of a purchaser’s excellent credit and unlimited
down-payment has difficulty with a mortgage approval if they are
unable to substantiate sufficient income history.
Then
Scott discussed a refinance scenario where a perspective applicant
that has an Interest-Only Mortgage – where the interest only period
is about to expire and their monthly payment goes up precipitously .
Example of a $400,000 mortgage increasing by $1,100 per month.
This
Friday (tomorrow) at the Briar's Restaurant, the Boy Scouts of
America by Jim Lupfer
Elinor
Yuter, Reporter
Rachel
Leihbacher, Expediter
