The First in a Series of Fannie and Freddie Bailouts July 13, 2008
The rumors floated on Friday regarding Fannie and Freddie turned out to be true. This first bailout proposal, released a few hours ago, has three parts. I say “first” because there is no way that this is going to be enough to save what’s headed our way nor will this be the only time the government will [...]
Our New Responsible Mortgage Lending law June 17, 2008
Just when you thought you had seen the most stupid law from our legislature regarding real estate omitting common sense, here comes another! House Bill 2770 aims to make what was a federal offense a state class-B felony. While it is aimed at mortgage brokers, it has wide sweeping implications to real estate agents, buyers, [...]
Fannie Mae’s Jumbo-Conforming Loan Guidelines March 10, 2008
I started this post with the plans of announcing the pricing for the Jumbo-Conforming mortgages…however, I just don’t have enough facts to do so yet. It looks like Fannie Mae’s add to rate is 0.25%…however, lenders will most likely have their own add to rate as well. (So far, I’ve only seen a [...]
Private Money Loan Recommendations? October 16, 2007
I had someone email me an interesting question recently:
I had a quick question about private money loans. Have their been any posts on this? I tried searching “private money”, “hard money” but nothing came up. I’m looking into rehabbing a house and conventional lending isn’t going to work for me, [...]
5 Steps for Shopping Mortgage Interest Rates March 29, 2007
What? I’m writing about something I don’t agree with in principle? True. I think that many people are spinning their perfectly good wheels in order to try to find a rate they cannot have unless they’re prepared to lock at the precise moment they are shopping. But, the practice of rate shopping and kicking the [...]
Exotic Loan Programs and Potential Foreclosures October 15, 2006
Every “exotic” loan program has a potential appropriate user of that program. What we are seeing more and more today, is the industry using these perfectly good programs inappropriately, to “get the deal done”. Before I go into my take on the situation, let me point out two relevant sites worth reading. [...]
How to Value a House August 23, 2006
While “market value” and “appraised value” are not always one in the same, calculating a home’s value is both a science and an art, whether the value is being ascertained by an appraiser or a real estate professional.
The purpose of the valuation can actually have some bearing on the value itself. If you have [...]
