NAR and KW Get Crushed In Lawsuit; Who Are the Real Winners and Losers
Wednesday, November 01
Prior to 2008, obtaining a mortgage was far cheaper and far easier – and it was NOT just because everyone could get so-called “liar” loans. It was because regulators stepped in after 2008 with far too little understanding and far too heavy of a hand – with the ostensible mission of helping consu...
The Many Visa Types That Fannie Mae Allows for Immigrants
Tuesday, October 31
Most people are oblivious to the many Visa types that Fannie Mae allows. The number is actually shocking, as even I had no idea how many Fannie allows until a few weeks ago. This means that immigrants of numerous types can qualify for Fannie Mae financing with as little as 3% down, credit scores ...
How Much Income Do You Need To Buy A $1 Million Dollar Home
Friday, October 27
The subject line for my blog is a common topic that lenders use for consumer blogs for search engine optimization (or “SEO” – or an entity’s efforts to draw readers to its website). And, here is the answer to the question: You need anywhere from $100,000 to $300,000 in income to buy a $1 million...
Why The Fed Must and Will Lower Rates!
Thursday, October 26
I frequently remind readers that a recession is likely and that the Fed will lower the Fed Funds rate when the recession hits. The Fed will do this to revive lending, to make borrowing costs cheaper, and to stimulate the economy overall. The risk of doing so will be more inflation, but the Fed wi...
Housing Just Got WAY MORE “Hackable;” 5% Down for 2 – 4 Units!
Wednesday, October 25
Before I explain the great news that will change the entire house hacking landscape, I want to touch on two other items. “1-0” Buydowns; Not “1-1” Buydowns! (Different Buydown Periods Explained) I have been pushing temporary buydowns aggressively (for rate and payment relief) in recent blogs lik...
Seller Carried 2nd Mortgages; Do’s and Don’ts
Monday, October 23
A seasoned appraiser told me that he is seeing a lot more listings lately that offer to carry 2nd mortgages for buyers, apparently as added enticements to move the listings. In light of that, I thought I would touch on a few “do’s and don’ts.” Down Payment Still Required. If buyers want to obtai...