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Is This a Bitcoin Bubble? An In-Depth Look at the Bitcoin Phenomenon.

by Kenny Estes December 11, 2013
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Bitcoins are on the tip of everyone’s tongue these days; probably because they quadrupled in price in the month of November. Although they’ve been around for years, this is the first time they look like they might live up to their promise: challenging the US dollar for dominance.  Should you buy them?  Or are we seeing […]

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How to Get a Bank Line of Credit to Invest in Notes

by Jimmy Moncrief December 7, 2013
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I am a bank credit officer and the biggest request I get from investors isn’t to buy notes…it’s getting lines of credit for their note and/or real estate business. If you are a BiggerPockets reader you know there are tons of great note deals out there.  However, your absolute profit is limited to your personal […]

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4 Ways To Build Your Credit Score Today (Without Spending Any Extra Time)

by Jimmy Moncrief September 17, 2013
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As a commercial real estate and corporate underwriter, I have a very different view of credit scores than most.  A simple score that gives no credence to an individuals income, liquidity or net worth has NO credibility in my opinion. Regardless of my individual thoughts, the bottom-line is that if you have a low credit […]

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STOP! Don’t Cut Up Your Credit Cards if You Care About Your Credit

by Andrew C. MacDonald April 18, 2011
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Before you cut up your credit cards in an attempt to curb spending, or purge old accounts, stop and consider the consequences. It seems rational to close off old credit card and retail accounts that you no longer use, but it may end up hurting your credit score. When it comes to getting a mortgage, […]

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More Things That Go Bump In The Night: A Look at the Credit Card Act of 2009′s Possible Impacts

by Tom Koziol February 19, 2010

In one of my previous posts I mentioned I had used my credit cards to buy a piece of property. It took my partner and I 33 days to sell that house and pocket a nice profit after paying off the cards. The rules are now changing for credit cards. You can still use them […]

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Borrowers Should Be Aware of the Effects Foreclosures, Bankruptcies and Shorts Sales Will Have on Their Credit

by Christina Inman October 19, 2009

fannie maeFor homeowners facing foreclosure or bankruptcy–or considering a short sale of their property to avoid one or both–the effect the action will have on their credit is undoubtedly a huge concern. Though keeping their homes might not be an option at this point, there could very well be another one in the not-too-distant future, so knowing when they’ll be eligible to qualify for another mortgage is important.

Be Aware of the Rules of the Road

Earlier this year, Fannie Mae updated its credit guidelines for borrowers who experience one of these circumstances. And, in general, the wait time will now range from two to five years.

Homeowners who lose their properties to foreclosure or file multiple bankruptcies within a seven-year period will have the longest wait–five years.

In the case of foreclosure, additional requirements and restrictions will apply after five years and up to seven years as well, which include making a minimum 10% down-payment, having a credit score of at least 680, and having limited cash-out refinance options. Also, the purchase of second homes or investment properties is not permitted.

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Commercial Real Estate

Apartment Building Foreclosures Create a Buyers Market for Apartment Buildings

by Ted Karsch May 19, 2009

Many apartment buildings are now facing foreclosure because of falling prices, stricter underwriting guidelines and 5 year mortgages becoming due. For the astute buyer of apartment buildings these apartment building foreclosures could represent an investment windfall. Image via Wikipedia As a glaring symbol of the burst bubble in national residential real estate prices, the National […]

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Another Financial Crisis Looming?

by Richard Warren March 2, 2009

Could anything be worse than the foreclosure crisis? People who purchased more expensive homes than they could afford or used risky mortgages to obtain them are losing their homes in record numbers. Banks who aggressively pushed loans on poorly qualified borrowers are suffering the consequences. The economy has been dragged down by the crisis. Will […]

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Questions & Risk for Lenders In The New Credit Environment

by Tom Koziol February 20, 2009

Risk management rules are being revised as a result of the credit crisis we are currently experiencing. One of the categories under review is Customer Behavior. The proponents of the “strategic adjustments” have come up with supposedly new questions in this category. This makes sense if the questions were truly new questions engineered for the […]

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A Look At 2009 From The Inside: Real Estate, Credit, and Debt

by Tom Koziol January 2, 2009

About two months ago I wrote a post that included information from a monthly magazine, Collections & CREDIT RISK (sic), I read religiously. I like the magazine because it gives me a more clear picture on the credit industry given the article writers are industry insiders. I received my January 2009 edition this past Monday […]

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When The Bill Collector Calls

by Richard Warren November 17, 2008

A couple of weeks ago I received a very unusual phone call. The caller stated that she was calling in reference to my XYZ Bank credit card and asked if I was Richard Warren. I have a credit card from XYZ Bank and assumed that the caller was soliciting me for some service even though […]

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A Solution That Works

by Joshua Dorkin October 8, 2008

Today, we’ve got an important guest post to share, written by Dan Gilbert, Chairman of Quicken Loans. Last week, President Bush signed into law the hotly debated financial rescue package called the Emergency Economic Stabilization Act of 2008. While this legislation helps stabilize Wall Street and the banking system, it does nothing to address the […]

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Global Economy Melts & Takes Focus Away From Foreclosure Debacle

by Charles Feldman October 8, 2008

It’s soooooo old news, isn’t it? I mean, all that stuff about people not being able to pay their mortgages and the rising population of those facing foreclosure, is so old hat now. What is really important, after all, is the survival of big banks! At least, it would seem that way from the news […]

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Commercial Real Estate

Are Municipal Bonds the Next Big Unknown Unknown?

by Ted Karsch October 7, 2008

In the financial crisis of today, to use a popular maxim of Donald Rumsfeld’s invention, “there are known unknowns and unknown unknowns.” Some major unknowns have surfaced to become economic hurricanes reeking havoc on financial markets worldwide, such as the failure of Freddie Mac and Fannie Mae. But what unknown unknowns are still lurking under […]

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Skating On A Frozen (Credit) Pond

by Richard Warren October 6, 2008

The credit markets have been so frozen that the Government felt that they had to step in with the recently enacted $700 Billion bailout. The freeze that started with subprime mortgage loans had spread to prime mortgages, auto loans, credit cards and other consumer loans. The entire economy was teetering on the brink of collapse. […]

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