Mortgages & Lending

Mortgages & Lending

Banks will not lend! What to Do With Balloon Payments

by Kevin Kaczmarek | August 10, 2011

Yesterday was another roller coaster ride on Wall Street and outside of your mutual funds, stock and bonds, what happened yesterday has a major impact on your real estate business. For months now we have been talking about buying and selling properties with seller financing. There was one particular article that now has a greater [...]

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Mortgages & Lending

Welcome to the High-Risk Pool: Evolving Down-Payment Rules Could Send Borrower Costs Soaring

by Chris Birk | January 20, 2011
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Thirty could be the new twenty. Unfortunately, we’re talking about down payments instead of states of mind. If the nation’s biggest mortgage lender gets its way, a 30-percent down payment would become the standard for the safest and most prized home loans on the market. That could make home purchases and even some refinances more [...]

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Mortgages & Lending

Utah Courts Grant Home Owners ‘Get Outa Jail Free’ Card In Foreclosure Mess

by Jeff Brown | January 18, 2011

Short and sweet today, as I’m pretending I’m an employee enjoying the three day weekend like everyone else. A court in Utah has now ordered any record of loans previously recorded on a few homes to be eliminated. Put more plainly, the order left the home owners with their homes magically made debt free. Why [...]

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Mortgages & Lending

Buying Notes at a Discount: Perfect for Real Estate Investors with Cash

by Jeff Brown | January 4, 2011

Sunday was fun, as some of us at BiggerPockets enjoyed lunch together in Hollywood. It was cool talkin’ with investors — beginners up to battle scarred vets. One of them, an incredibly intelligent guy, was using as one of his strategies, what I’ve had clients do (me too) in markets like we’re currently experiencing. What’s [...]

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Housing

Government Assistance to Investors, Interest Rates Spike, Purchase Activity Up

by Ryan Hinricher | December 13, 2010
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Is the housing market turning a corner? Indicators show that not even the spiking interest rates are slowing the recovery. Also the government is considering programs geared towards assisting investors, and one bank is resuming 16,000 foreclosures. Government to Consider Helping Investors Real Estate Reporter for CNBC, Diana Olick discussed this week the potential for [...]

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Mortgages & Lending

An Interview with Bruce Norris, CEO of The Norris Group: Hard Choices About Hard Money Loans

by Ronald Sklar | November 21, 2010
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“We tell people to get out of deals every month,” says Bruce Norris, CEO of the California-based Norris Group, which brokers hard-money investment loans as well as valuable information to investors. Even though Norris’ company extends millions of dollars in hard-money loans, they are even more concerned about not lending; put another way, they are [...]

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Mortgages & Lending

Identity of Interest Transactions When Getting An FHA Loan

by Justin McHood | October 12, 2010

Thinking about buying a home from someone you are related to or do business with? FHA will allow FHA financing on the property, but under certain circumstances and with some modifications to typical FHA rules. Generally speaking, if you are buying a home from someone you do business with or are related to, FHA will [...]

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Mortgages & Lending

FHA Case Number Transfers

by Justin McHood | October 5, 2010

From time to time, when you are working with a lender to get an FHA loan, a reason arises that you decide you want to work with another lender.  The reason that you decide to work with a different FHA lender once you have started the loan process isn’t all that important, but what happens [...]

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Mortgages & Lending

Booming Military Towns Present an Real Estate Opportunity

by Chris Birk | August 19, 2010
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Military communities are booming nationwide, according to a fascinating analysis by USA Today. Eighty percent of the country’s 20 fastest-growing metro areas in terms of per-capita income have a military base or are near one. The staggering growth in these places represents an burgeoning opportunity for real estate and mortgage folks. As a demographic, military [...]

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Mortgages & Lending

Fannie Mae Outlaws Appraisal Cutting

by Justin McHood | July 27, 2010

I didn’t realize that underwriters cutting appraisals was still a problem.  I mean, I remember it being a big deal when it seemed that everyone I knew wanted to refinance and take their equity out to spend on whatever they wanted. But I thought those days were long gone. Turns out maybe not. It must [...]

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Mortgages & Lending

Using An IRA To Save Your House

by Justin McHood | July 19, 2010

Many people have money set aside that can help them buy a home or save their home – in a spot they don’t think they can access easily. When times get tough, many people will drain their savings accounts and checking accounts of their savings – but I don’t hear very many people asking me [...]

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Mortgages & Lending

Interest Rates On Jumbo Loans At 2003 Levels

by Justin McHood | July 13, 2010

If you are looking at buying a (big) home and possibly financing it with a jumbo loan, this may be your lucky day if you have documentable income and a good credit score… Interest rates on jumbo loans are at their lowest levels since 2003. So for those borrowers who are shopping for houses that [...]

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Mortgages & Lending

Green Mortgages: Three Types

by Justin McHood | July 6, 2010

Have you ever heard of a “Green Mortgage”? If not, you may soon. They seem to be gaining steam along with the rest of the “green” movements. In order for a mortgage program to be considered a “green mortgage” program, it simply has to have an incentive that can be added to a regular mortgage [...]

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Mortgages & Lending

FHA Jumbo Loans: Heating Up

by Justin McHood | June 29, 2010

FHA jumbo loans are a popular alternative to “regular” jumbo loan financing due to their low rates and low down payment.

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Mortgages & Lending

The Most Important Tip About Buying A Home As A Vet

by Justin McHood | June 22, 2010

There are a lot of home loan experts out there who have various tips and suggestions about buying a home. I guess this post is no exception, but I’m directing this particular list of tips to Vets and in particular those Vets who are looking to buy a home. The Most Important Tip – Get [...]

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