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  • It’s Official: New Conventional Guidelines for Ordering Appraisals (9)
    • Rhonda Porter: Kary, the phrase “mortgage brokers” is often wrongly used in the media…I believe in many cases, it should be replaced with “loan...
    • Kary L. Krismer: Yes, I’m aware of that. When Cuomo made the allegations I was surprised that it was WAMU he was going after, because it was always some mortgage...
    • Rhonda Porter: Kary, this was caused by Cuomo investigating WaMU for strong-arming appraisers to meet certain values and then blacklisting them if they did not. This...
    • Kary L. Krismer: What it’s designed to do is stop the practice of a mortgage broker calling up two appraisers, asking them for initial values prior to selecting...
  • Government Intervention in Foreclosure (42)
    • Kary L. Krismer: Jillayne emailed me the letter that was the result of that representation at the meeting. That’s what I was working off of.
    • Rhonda Porter: Kary, re. 37: I believe DOR has stated at a recent Escrow Assoc. meeting that excise tax is due on the loan amount when dealing with a short...
    • Rhonda Porter: I couldn’t agree with Gene’s comment more: “This is NOT a case where there was a natural disaster. This is mostly a case of a rampant...
    • Kary L. Krismer: I’ve been thinking about this excise tax thing further, from a theoretical point of view, rather than just looking at the language of statutes...
  • Mother Nature Happens… (4)
    • Kary L. Krismer: Which again is another reason to have a clause providing for an automatic extension if the transaction doesn’t close due to a reason not the...
    • Rhonda Porter: Last night watching the news, it reminded me of the earthquake we had a few years back during a busy time in the market. It didn’t matter if...

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Tag: Seller-Paid-Points

Sell Pays - Buyer Deducts - Get out those HUD-1’s

When the Seller Pays the Buyer’s Closing Costs, the Buyer still gets to deduct those that are tax deductible.  Discount points to buy down the interest rate, may be a selling point for the seller, if interest rates are holding people back from purchasing.  Back in oh…about 1994 or so when the market was [...]

Posted: March 18th, 2007 under General Real Estate.
Tags: ,
Comments: 6