Mortgage Loan

Title Unavailable

2006-09-04T15:36:00.000-07:00

It looks like July will end up like the last few months with twice the number of new listings as pending sales and another record month in number of price changes. Following are 4 types of Sellers that may be contributing to the large number of homes being put on the market: 1) Serious Sellers - These are motivated homeowners that want to sell their home and will adjust their price based on what the market is telling them.

Tagged: loan

Title Unavailable

Borrowers Urged To Get Independent Appraisal

2006-06-09T14:33:00.001-07:00

"No tenants are found, no rental payments are collected, no mortgage payments are made, the house goes into default -- turns out it's not worth anything -- and the borrower is left holding the bag and their credit is destroyed," says Rachel Dollar, a lawyer in Santa Rosa, Calif., who represents lenders in mortgage-fraud cases. But many borrowers simply don't want to be on the hook for more money than their homes are worth.

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Borrowers Urged To Get Independent Appraisal

The Closing Commando

2006-06-09T14:33:00.000-07:00

I got a call first thing yesterday morning that our closing for House (uh, what is it now) 15 was scheduled for this morning at 10 am! I stood over people at their desks while they called the lender and faxed her what she needed in order to close. I'm about to drive to House 14 to pay Contractor 2 and his guys for the last time. But, just after we got started on that, I got a call from the 4-house-refi lender from over a month ago.

Tagged: loan

The Closing Commando

PRIVATE MORTGAGE MONEY An alternative to seekin...

2006-05-17T19:58:00.000-07:00

Private Lenders Club members lend monies based more on the applicant's equity in their property and the total loan to value ratio that the financing will represent. Individuals with good credit and income but the property that they are looking to arrange financing on is difficult to finance. Finally, individuals that have good credit, good income and a strong positive net worth but for privacy reasons they choose private financing.

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PRIVATE MORTGAGE MONEY
An alternative to seekin...

Huff, Puff,...Wheeze

2006-05-16T16:55:00.001-07:00

Michael and I have been hard at work on House 14 since Saturday. But, we've been working hard since Sunday morning. After the fire, there was a lot of material from the interior of the house (I guess the firemen pulled it outside) along with Contractor 1's abandoned construction junk.
I'd better call our attorney soon and see what kind of progress he has made on the re-zoning application for the House 8 lot.

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Huff, Puff,...Wheeze

Once You Go Flat, You Never Go Back

2006-05-16T16:55:00.000-07:00

Whew, I'm tired.
Unfortunately, one of the studs Michael placed in the doorway of the closet to support the closet door had to be removed along with the drywall to remove the old water heater. AND, the new water heater we bought at Lowe's (the smallest diameter of any 40 gallon) is too wide to fit in the closet there in the bathroom.
Then, the guy behind the little old man hit him, pushing his car into mine.

Tagged: loan

Once You Go Flat, You Never Go Back

Finding the best Mission Viejo Condos for Sale

2006-05-15T21:16:00.000-07:00

Step 5: If you have not found a 4 or 5 star Condo within 2 months of shopping, it may be time to modify your Condo hunting criteria. ie: raise the maximum price if possible, look in other cities or areas, look at smaller Condos, etc. Step 6: Once you have found your 4 or 5 star Condo, have your Realtor do an analysis to determine if it is fairly priced (CMA), how long has it been on the market, the motivation of the Seller, etc.

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Finding the best Mission Viejo Condos for Sale

RealtyJuggler Calculator Available For Windows Mobile Devices

2006-05-13T09:39:00.000-07:00

RealOrganized, Inc. announced today the availability of RealtyJuggler Calculator for Windows Mobile / Pocket PC Devices. RealtyJuggler Calculator is software that agents can use to do real-estate calculations such as rent-vs-own comparison, computing monthly mortgage payments, or determining the maximum loan a buyer can qualify for. The company also offers "RealtyJuggler Deluxe", an organizational software for agents, which we mentioned here.

Tagged: loan

RealtyJuggler Calculator Available For Windows Mobile Devices

Time to Re-Finance Your ARM?

2006-05-11T10:43:00.000-07:00

While short term interest rates have been steadily rising recently, long term rates have not risen significantly. If you financed your home with an Adjustable Rate Mortgage (ARM) at a low rate within the last few years, you may be in for a nasty surprise when your rate adjusts. With the recent rise in short term rates, refinancing your ARM is definitely worth discussing with your mortgage banker or financial advisor at this time.

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Time to Re-Finance Your ARM?

How Much Will a Home Cost You?

2006-04-29T13:21:00.000-07:00

Just some rough, ballpark numbers (using a fixed, 30 year mortgage rate) -
A home loan of $100,000, with a 6.5% interest rate will cost you $632 a month in principal and interest ONLY (not counting taxes, insurance, escrow, closing costs, etc. here).
A home loan of $200,000 at 6.5% interest will cost you $1264 per month (again, principal and interest only).

Tagged: loan

How Much Will a Home Cost You?

Hedge Around Your Home

2006-04-28T19:01:00.000-07:00

Miami is also the strongest market since the index began in 1987 and its appreciation has been double that of Denver in the period since. Marc Chandler, an economist at Brown Brothers Harriman and a one-time trader on the floor of the CME, complains it does not provide a like for like guide to prices over time, notably because it excludes the impact of home improvement, which he says contributes to the disequilibrium housing has in the economy.

Tagged: loan

Hedge Around Your Home

Buying and Selling: How To Trust Your Realtor

2006-04-28T15:08:00.000-07:00

Do they have any reports on them from the Better Business Bureau? (Yeah, yeah, I know these may just be rubber stamps, but it's better than trusting Joe's Chicken Shack Realtor!) Check the news, public records, anything and everything you can find to get proof your realtor is legitimate and honest. Know your realtor like you know yourself, and don't be afraid to ask questions, find out data, and play the skeptic.

Tagged: loan

Buying and Selling: How To Trust Your Realtor

Buying a Home?

2006-04-22T15:22:00.001-07:00

What’s important to you in the house you want to turn into a home? You want a home that will appreciate in value, so purchase a home that is not the best home on the block, but one you can work on and improve, especially if you are young. Persuasion is a different animal altogether, and if they choose to process your thinking and feeling don’t feel too challenged, they might want the best for you in the long run.

Tagged: loan

Buying a Home?

Bridge Loan Financing

2006-04-22T15:22:00.000-07:00

No, we’re not selling you a bridge.
Bridge Financing By: Marc Kahn Sutterwest 575-7600 Bridge financing, as the term implies, provides a bridge from a current residence to a new one, in cases where your client needs the money from the old house to close on the new one…but has not yet sold or closed on the old house. The lender assumes you will sell the old house within 6 months from the purchase of the new one.

Tagged: loan

Bridge Loan Financing

Buyer (And Seller) Beware

2006-04-20T14:53:00.002-07:00

You hear stories about sellers slashing listing prices to attract buyers, but home prices nationally have risen more than 10% over the past year. That leads people to take more risks than they should. The idea here is that if people's monthly payments to own a house are much higher than what they would spend to rent the same place, tax considerations included, then they must be banking on prices going up so they can sell for a profit someday.

Tagged: loan

Buyer (And Seller) Beware

Condo Conversions Revert to Rentals

2006-04-20T14:53:00.001-07:00

ET April 16, 2006 Six communities with 1,571 units - three in Broward and three in Palm Beach County - have made the switch from condo conversion sales back to rentals. "A bank that is asked to change a short-term loan for a conversion project to a longer-term loan for a rental project would also probably want to recoup those lost partial release fees at the time of the new loan," Dockerty said.

Tagged: loan

Condo Conversions Revert to Rentals

Your Mortgage Application Is For Sale

2006-04-20T14:53:00.000-07:00

Your loan officer may be unaware, but behind his or her back key financial details about you and your mortgage needs are being hawked to competing lenders within 24 hours of your credit bureau inquiry.
Firms such as Mortgage Inquiry Data of Coral Springs, Fla., offer interested lenders nationwide ``access to everyone in your city who applied for a mortgage loan within the past 24 hours.

Tagged: loan

Your Mortgage Application Is For Sale

Buying a home with 5% Down? A lot of first time...

2006-04-20T14:52:00.001-07:00

Costs such as the CMHC/GE Mortgage Insurance Premium, Land Transfer Tax (if applicable), Provincial Sales Tax (P.S.T.) and closing costs. Having CMHC Mortgage Loan Insurance means that if you, the borrower, default on your mortgage, the lender is paid back by CMHC. The Mortgage Insurance Premium can either be paid on closing or added to the your mortgage amount resulting in a Total Loan Amount which will be the amount registered on closing.

Tagged: Mortgage Loan

Buying a home with 5% Down?
A lot of first time...

Is it possible to get 100% Financing? The foll...

2006-04-20T14:52:00.000-07:00

Equity borrowed from any source that is arm's length or not tied to the property purchase or sale transaction. Downpayments may not be paid out of or included in the insured mortgage.This includes recovery of any lender cash back incentives.
Sources that are not arm's length or tied to the purchase or sale of the property, either directly or indirectly, are not permitted.

Tagged: Mortgage Loan

Is it possible to get 100% Financing?
The foll...