Entries from Searchlight Crusade tagged with 'second'

The Self-Fulfilling Prophecy of Lender Fear

Most people, particularly first time buyers, want 100% financing or as close as they can get. Actually, most first time buyers don't have a down payment and couldn't put a significant down payment (5% or more) if they had...

100% Financing or Low Down Payment or Low Equity: PMI May Be The Only Option

One of the casualties of the lending meltdown is the high loan to value second mortgage. With many properties locally having lost twenty percent or more of their value, a second mortgage on a property that ends up in default...

Second Trust Deeds and Loan Subordination

When you have more than one loan on your property, there are some issues you should be aware of. Keep in mind the fact that some states still use the mortgage system, requiring court action to foreclose, as opposed to...

Zero Interest Credit Cards versus Home Equity Line Of Credit

Once upon a time, I received an email about the virtues of zero interest credit cards as opposed to Home Equity Lines of Credit. I've organized both the email and my response in order to facilitate understanding: You raise a...

Investing in Second Trust Deeds

This article was originally from April 2006 - anybody want to tell me I didn't call it? Of course, by that time it was like predicting a dropped anvil would fall but that was when the question was asked From...

Stand Alone versus Piggyback Second Trust Deeds

Second Trust Deeds are something few real estate loan officers really understand well, mostly because the good ones don't make much money on them. Predatory lending laws in most states, limiting total compensation and total expenses to a given percentage...

Pre-Payment Penalties and Second Trust Deeds

This was originally from February 2007. The situation as to what loans are available has changed quite a bit since then, but the underlying advice is and will remain sound. Shortly after the original article, things started downhill for lenders...

The Self-Fulfilling Prophecy of Lender Fear

I knew that people, particularly first time buyers, were going to be forced into condominiums in San Diego, I just didn't know how soon. Most people, particularly first time buyers, want 100% financing. Actually, most first time buyers don't...

100% Financing or Low Down Payment or Low Equity: PMI May Be The Only Option

One of the casualties of the current lending meltdown is the high loan to value second mortgage. With many properties locally having lost twenty percent or more of their value, a second mortgage on a property that ends up in...

Stand Alone versus Piggyback Second Trust Deeds

Second Trust Deeds are something few real estate loan officers really understand well, mostly because the good ones don't make much money on them. Predatory lending laws in most states, limiting total compensation and total expenses to a given percentage...

Pre-Payment Penalties and Second Trust Deeds

Hello Mr. Melson, Let me start off by saying that I am a big fan of your "Searchlight Crusade" website. I happened upon it a while back after I had already purchased my house. I've found a lot of...

Practical Applications: Credit Cards versus Home Equity Line Of Credit

You raise a lot of issues. Some I'm going to deal with very quickly, others I'm going to spend some effort on, but nothing as in depth as a full article would have. I'm going to keep referring to material...

Second Trust Deeds and Loan Subordination

When you have more than one loan on your property, there are some issues you should be aware of. Keep in mind the fact that some states still use the mortgage system, requiring court action to foreclose, as opposed to...