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Matching entries from Dan Melson's Website
Fannie Mae and Freddie Mac Expanding "Upside Down" or "Underwater" Refinance to 125%
I almost Forgot to mention that Fannie Mae and Freddie Mac have been pleased with the success of their 105% refinance program. It's keeping them from losing money, and converting adjustable loans into fixed rate loans so the consumers can...
General Consumer Articles: Weeks in Review April 20th-May 10th
I've been letting this slide for several weeks due to one thing or another, during which time I've done a few important new articles and republished quite a few important older ones. Therefore, I'm going to limit the review...
General Consumer Articles: Weeks in Review March 29-April 19, 2009
I've been letting my weekly article review slide for several weeks due to one thing or another, during which time I've done a few important new articles and republished quite a few very important older ones. Therefore, I'm going...
State of the La Mesa and East County Real Estate Market April 2009
We were ready for a strong turn in the market, but the strength of what we've gotten in the last six weeks is amazing. It has been, if anything, worse that a few years ago. What caused it? People...
New Consumer Article: How Agents Should Respond To An Appraisal Below Purchase Price
The new consumer article for today is How Agents Should Respond To An Appraisal Below Purchase Price. The appraisal is a significant client protection, and trying to manipulate the appraisal to make the transaction happen is not in a buyer's...
General Consumer Articles: Week in Review March 23-29, 2009
Newly Written Articles Buyers: Stretching Your Budget Means Compromise talks about how to make your dollars go further, and the thin line between "challenging" and "not going to happen" What Are The Note And Trust Deed And What Is...
New Consumer Article: The Home Valuation Code of Conduct (New Appraisal Standards)
The new consumer article for today is The Home Valuation Code of Conduct (New Appraisal Standards) that are going to be taking effect (appropriately enough) on May 1 ("May Day" or "MAYDAY"). It is going to be almost impossible for...
General Consumer Articles: Week in Review March 2-8, 2009
Sorry I didn't have time to do more entirely new articles. I'll try and improve the number this week. Newly Written Articles State of the San Diego Real Estate Market March 2009 Updated Articles Investment Risk and Paying off...
General Consumer Articles:Weeks in Review January 26 - February 8, 2009
Newly Written Articles Be Careful Moving Your Down Payment Money talks about problems that can be generated when you don't have an adequate paper trail. Jumbo Loans and The Current Market (January 2009) talks about why lenders want people...
General Consumer Articles:Weeks in Review December 8-21, 2008
Newly Written Articles Buyer's Agents Presenting An Offer In Person talks about the advantages of agents presenting an offer in person. Multiple Offers: Weak But Increasingly Common, And It's Your Listing Agent's Fault talks about how to discourage strong...
General Consumer Articles: Week in Review October 20-26, (and Oct 27-Nov 2) 2008
Newly Written Articles When Loan Modification Will Not Help, or Is Not Appropriate Why You Should Not Walk Away From Upside-Down Real Estate What Sort of Loan Can I Get? (October 2008) Will I Qualify for the Loan to...
What to Do When Your Loan is Declined
Loans are declined, or actually, the next thing to it, all the time. It is pretty rare for a loan to be outright rejected; I do not recall ever having had a loan outright rejected. That's a sign of a...
Real Estate "Pig In a Poke"
Over five hundred years ago in Europe, there was a con game that was more practiced than any other con game in the history of the world. It was simply the thing to try on the new rube in...
What Happens To Equity During and After Foreclosure?
"what happens to your equity when the bank forecloses" was a question I got. The answer is that most, if not all, will be dissipated by the foreclosure. Let's say you own a home currently valued at $500,000, that you...
Buying or Selling Subject to Existing Deeds of Trust
This is something that often happens with highly appreciated properties where the owner can no longer keep up the payments, they get hit with a notice of default, and along comes Joe or Jane seemingly riding to the rescue on...
Don't Let Cash Make You Stupid About Real Estate
There are many ways of suckering real estate consumers, and cash as an inducement to get people to swallow a raw deal is one of the most common. From sellers (usually developers), "free" upgrades are one of the most common....
Why Do Purchase Escrows Fall Apart? (And Why Is It Happening More Often?)
There have always been real estate transactions that fall apart. The reasons why they fall apart are as varied as the people who enter into the transaction in the first place. Let's get back to the very basics for...
Why You Want The Lender to Assume Pricing Risk
In the last couple of years a movement has arisen, led by certain well meaning academics, that says negotiating a loan broker's total revenue is sufficient to get consumers a better loan. As far as they go, they are...
What Exactly do First Time Home Buyers Need?
That's one of the questions I've been asked, and it deserves an answer. Know that there is some flexibility to the answer, as there are embedded trade offs. You don't need as much of an income, or as high of...
San Diego Real Estate Market: June 2008 Advice
My advice to sellers is very simple: Hold off if you can. Things have already improved, but better times are coming once more inventory clears. The prognosis for this is very good. I'm seeing fewer short sales, at least...
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