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Considering a Home Loan?

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By Lisa Harrison Rivas

If you’re thinking of buying a home soon, now is a good time to get your financial house in order.  But where do you start?

Understanding what is required to obtain a mortgage can be confusing and overwhelming, especially with so much information available on the internet.

Maurice Matthews, a loan officer with Gold Financial Services at 2822 N. Loop 1604 in San Antonio, suggests prospective homebuyers sit down with a lender before house hunting.

Matthews, who has been a loan officer for 14 years, discussed his job and what people should know about the mortgage process.

Q: When people find out you’re a loan officer, what are some of the first things they ask?

A: The first thing they ask is what is the interest rate. And the interest rate is determined by a lot of different things. A lot of times, people just don’t understand the depth of what the interest rate is determined by. It’s determined by the credit score and the loan amount size. People also ask what their payment might be.

Q: Do you specialize in a certain type of loan?

A: Being prior military (Air Force), I specialize in VA loans. I can do all loans, but I guess I’m sort of partial to military loans. This is a military town. I love my veterans. The VA is probably the best loan out there because it requires no down payment and there is no mortgage insurance on the loan.

Q: What should people know before applying for a home loan?

A: Before you have your Realtor run you around, you need to know where you stand with your credit score and with your debt ratio.  You need to know if you qualify, if you’re a qualified buyer, that’s what a Realtor wants.

Q: How long does it generally take for an applicant to find out how much he or she is qualified for?

A: I can tell them the same day. Once I see where their income is, I can have a really good idea of if they’re qualified or not.

Q: Which type of home loan do most people get?

A: In San Antonio, most of them are VA. But people are hedging toward FHA loans. An FHA loan allows them to get a bit more buying power as compared to a conventional loan. FHA allows them to put 3.5 percent down and the debt to income ratios are not as stringent which again allows people to have more buying power. (FHA guidelines recently changed allowing some applicants to borrow more.)

Q: What do you consider a low credit score?

A: The low on the FHA is about 580. Now if you do what we call a non-qualified loan, which is anything outside of your standard loans such as FHA, VA or USDA, lenders can go a little bit lower than a 580 credit score. But with that there are a few more hurdles that borrowers might have to climb. They might have to put more money down. It’s a case by case basis.

Q: What are some of the financial mistakes prospective homebuyers make during the loan process?

A: Going out shopping. I tell clients not to spend or look at anything until you close.

Q: Can you share an unusual scenario you’ve come across in your career as a loan officer?

A: Man, I’ve seen it all. But when it’s all said and done my objective is to help people. For some it might be immediately, some a year from now. My goal is to help in every single scenario, regardless of what it is.

Lisa Harrison Rivas is a Realtor with Berkshire Hathaway HomeServices Don Johnson, Realtors. Contact Lisa at 210-380-9006 or lhrivas@realsa.com

Maurice Matthews is a loan officer with Gold Financial Services, a full-service mortgage banker. He can be reached at 210-366-1070 or mmatthews@goldfinancial.com

 

 

 

 

 

 

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Black Women & Stress

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Stress, Depression & Anxiety: An Escalating Epidemic For Professional Black Woman

Nationwide — Half of black American women report that they experience severe stress, while only a quarter of Caucasian women in the US report extreme stress. Research indicates that black women are also more likely to experience major depression and anxiety disorders, and Black women’s symptoms are more severe than those of their white counterparts.

In addition, African American woman are disproportionally affected by stress-related diseases like hypertension, obesity and Type 2 Diabetes. Dr. Adwoa Akhu, an expert in stress management, shows women of color how to stop running on empty so they can think, feel, and live better, with increased joy and decreased stress.

“The first step toward alleviating the heavy weight carried by the ‘strong black woman’, as well as addressing the resulting mental and physical damage, is the practice of self-care,” explains Dr. Akhu, a Licensed Clinical Psychologist and founder of the Redefining the Strong Black Woman movement.

Dr. Akhu says that black woman can reduce their stress levels and increase joy by incorporating the following three tools into their hectic lives:

* Focusing on gratitude

* Learning to meditate

* Engaging in daily self-care

Dr. Akhu’s new book, Cultivating Inner Peace: A Sustainable System for Professional Black Women, documents her simple to follow, time tested, powerful system. Cultivating Inner Peacemakes it easy to draw in the positive, clear out the negative, and use even small windows of time to foster mindfulness, clarity, and joy in our daily lives, which will lead to better relationships with ourselves and others.

Cultivating Inner Peace is:

* A practical system: it provides maximum insight in minimum time from brief, specially formatted chapters that make it easy for busy people to consume in just a few minutes at a time.

* Spiritually based and supported by science: powerful spiritual wisdom that is validated by psychological research.

* Easy to relate to: Dr. Akhu includes examples from her personal experience as well as stories from people she has helped to illustrate real-world applications of the program.

Dr. Akhu is an author, speaker, and former president of the NY Association of Black Psychologists who regularly teaches NYPD Hostage Negotiators about mental health and mental illness. She is a master workshop facilitator, offering topics such as: Redefining What it Means to be a “Strong Black Woman,” Working on Empty: The Antidote for Secondhand Stress, and Rewiring the Brain to Combat Stressful Involuntary Bias. Dr. Akhu is also a wife and mother of two girls.

Learn more at http://www.drakhu.com

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NFL – Roc Nation Partnership

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New York, NY – Roc Nation announced it has entered into a long-term partnership with the National Football League as the league’s official Live Music Entertainment Strategists. The partnership will begin as the NFL’s 100th season kicks off and will serve as a commitment from Roc Nation and the NFL to nurture and strengthen community through music and the NFL’s Inspire Change initiative.

Roc Nation will spearhead and advise on the selection of artists for NFL tentpole performances, including the Super Bowl, and will assist in the production and promotion of new music as well as culture- and cause-focused initiatives.  

A core component of the partnership will be to amplify the Inspire Change platform priority areas identified by NFL Players, including Education and Economic Advancement, Improving Police-Community Relations, and Criminal Justice Reform.

 “With its global reach, the National Football League has the platform and opportunity to inspire change across the country,” said Shawn “JAY-Z” Carter. “Roc Nation has shown that entertainment and enacting change are not mutually exclusive ideas – instead, we unify them. This partnership is an opportunity to strengthen the fabric of communities across America.”

Roc Nation and the NFL will work together to create and distribute music content across multiple music streaming services for a variety of initiatives. Roc Nation will work alongside the league with artists to curate the richness of football culture nationwide. Content initiatives may include a Live Visual Album, “Songs of the Season” original music, archived and current content from live NFL music events and artist podcasts.

“Roc Nation is one of the most globally influential and impactful organizations in entertainment,” said NFL Commissioner Roger Goodell. “The NFL and Roc Nation share a vision of inspiring meaningful social change across our country. We are thrilled to partner with Roc Nation and look forward to making a difference in our communities together.”

Roc Nation will also consult and collaborate on various aspects of production, promotion, marketing, and communications for live music events and related activations, which include new endeavors such as Songs of the Season and a Pro Bowl Community Concert.

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We Buy Black Convention

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Black Consumers and Sellers Gear Up For Historic We Buy Black Convention

The second annual event plans to honor the enslaved Africans who arrived in 1619, and reclaim the power of Black commerce.

Attendees and founders of We Buy Black convention

This August marks 400 years since the first Africans reached the shores of Jamestown, Virginia where they were auctioned for sale as slaves. In remembrance of this historic event, one millennial entrepreneur is planning a different kind of sale – one that he hopes will impact the next 400 years of African-American history.

On Aug. 23-25, 2019, over 120 Black-owned vendors and consumers will gather at the second-annual We Buy Black Convention in Atlanta at the Georgia International Convention Center. There will be Black-owned companies selling everything from soaps and shea butter to laundry detergent, bed linens, and toothbrushes. While the items themselves may represent the routines of everyday life, event organizer and founder of e-commerce site WeBuyBlack.com, Shareef Abdul-Malik says that the impact of this singular commercial event has significance beyond its surface. 

“This year’s convention is deeper on a lot of levels because our people were brought to this country to be bought and sold,” said Abdul-Malik. “So, not only are we honoring our ancestors and how their struggle for freedom and justice got us where we are today, but we’re also reclaiming the effects of capitalism that enslaved us in the first place.”

At just 27, Abdul-Malik is already a veteran when it comes to connecting Black consumers with Black-owned businesses, but he hopes this convention will help get the Black community excited about the wide variety of high-quality products Black businesses have to offer and inspire others to become business owners themselves. 

“Our mission is for the average Black family to be able to easily and efficiently buy everything they want and need from a Black vendor,” Abdul-Malik said. “We’ve been able to help business owners sell and market their goods, but now we need more Black manufacturers.”

With the theme “Setting the Precedent for the Next 400 Years”, the convention will begin with the Inaugural The Next 400 Gala, honoring Yusuf Salaam of the Central Park 5, Mo’Nique the comedian and entertainer, Mahmoud Abdul-Rauf who preceded Kaepernick by 20 years and lost his NBA career due to his political stance, and lastly Dr. Key Hallmon of the Village Market ATL. This Gala will be hosted by Derrick Boazman of WAOK 1380 Radio, and Cleveland Councilman Bashir Jones will be the Keynote Speaker. There are only 400 tickets available to attend this Gala that Friday evening.

The weekend includes workshops on business ownership and manufacturing, alongside the vast array of Black-owned products that will be sold. There will also be B2B Speed Consulting Sessions and a “Shark Tank” style pitch competition called Pitch Black.

The event also boasts live performances from national and local recording artists, a Popcorn Competition, and a Children’s Village, where youth participants can engage with Black-owned brands and performers on their own level.

On Sunday, August 25th, The We Buy Black Convention will be the United States satellite location to observe the international moment of silence in commemoration for the 400 years. This weekend will be full of notable moments in our history and it’s definitely something that deserves our participation. 

“Even if you just come to replenish your supply of toothbrushes or get your child a new backpack for school, you’ve contributed to something that will help generations of Black people,” he said. “I think our ancestors would be proud of what we’re trying to do.”

We Buy Black Convention
Aug. 23-25, 2019
Georgia International Convention Center
2000 Convention Center Concourse – Atlanta, GA 30337
Tickets and more information can be found at www.webuyblackconvention.com.

About WeBuyBlack.com

WeBuyBlack.com is the largest online marketplace for Black-owned businesses and individual sellers. By giving Black businesses and sellers access to a diverse, open, and international market, WeBuyBlack stimulates the circulation of wealth among the Black Diaspora and assists Black businesses in providing for families and communities at large.

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