Entries from Dan Melson's Website tagged with 'cash'
New Consumer Article: Assuming Seller Concessions On Loan Quotes
The new consumer article for today is Assuming Seller Concessions On Loan Quotes, which discusses why lenders do this: To make an expensive loan look not so expensive. But there is no way to get seller concessions (Seller Paid Closing...
New Consumer Article: They Told Me Not To Make My Loan Payment
The new consumer article for today is They Told Me Not To Make My Loan Payment. Ladies and Gentlemen, that's one of the top ways to get yourself in trouble when you're refinancing. What if your new loan cannot be...
New Consumer Article: There Is No Fairy Godmother for Loans
The new consumer article for today is There Is No Fairy Godmother for Loans. To avoid becoming a government statistic, ask prospective loan providers the hard questions before you sign on the bottom line - or better yet, before you...
New Consumer Article: Shopping For The Best Loan In The New Lending Environment
The new consumer article for today is Shopping For The Best Loan In The New Lending Environment. There have been changes in the lending environment in the last few months, changes that are practically designed to make loan officers with...
New Consumer Article: Stretching Your Budget Means Compromise
The new consumer article for today is Buyers: Stretching Your Budget Means Compromise. It's something too rarely covered by the press, and by real estate agents. There are tradeoffs in every choice a buyer makes, and unless they have a...
New Consumer Article: The Difference Between a Reliable and Unreliable Prequalification or Preapproval Letter
The new consumer article for today is The Difference Between a Reliable and Unreliable Prequalification or Preapproval Letter. Whether you're a buyer or a seller, having the right lender letter is a good thing. If you're a seller, you know...
New Consumer Article: Be Careful Moving Your Down Payment Money
The new consumer article for today is Be Careful Moving Your Down Payment Money. Underwriters want to see a trail on any money you have. If you don't have or can't show such a trail, the presumption is going to...
New Consumer Article: The Hope (Dashed) For Homeowners Program
The new consumer article for today is The Hope (Dashed) For Homeowners Program. I really thought that most folks understood this was all political theater - unlike the $700 Billion for lenders who screwed up by the numbers, intentionally disregarding...
New Consumer Article: The Qualification Letter I Use for My Buyers and Require For My Listings
The new consumer article for today is The Qualification Letter I Use for My Buyers and Require For My Listings, which talks about how I communicate that my buyers really are qualified, and how I ascertain that potential buyers of...
New Consumer Article: Cash to Close - A Basic Primer
The new consumer article for today is Cash to Close - A Basic Primer. The article discusses how much cash a buyer of real estate has to have in order to make the transaction happen. Proving that you have this...
New Consumer Article: You've Got a Great Offer, But Can The Buyer Consummate It? (Cash to Close)
The new consumer article for the day is You've Got a Great Offer, But Can The Buyer Consummate It? (Cash to Close). These days, you have to pay attention to details like the limits of how much lenders are willing...
New Consumer Article: Mortgage Fraud Is Still Happening - What To Do About It
The new consumer article for the day is Mortgage Fraud Is Still Happening - What To Do About It. There are still tricks that the less scrupulous agents and loan officers are pulling that are just as fraudulent as at...
New Consumer Article: How Much Down Payment Do I Need and How Do I Get It?
The new consumer article for the day is How Much Down Payment Do I Need and How Do I Get It?. The title says it all: How much do you need, and ways of coming up with it in a...
New Consumer Article: VA Loans Have Become The Magic Bullet
The new consumer article for the day is VA Loans Have Become The Magic Bullet. It isn't that VA loans have changed; it's that everything else has severely tightened the qualifications. I'll try and have at least a couple of...
New Consumer Article September 22, 2008
Today's new consumer article is Earnest Money: Copy of a Check or Proof Of Funds?, talking about what good various sorts of evidence of deposit do....
New Consumer Article September 15th, 2008
Today's new consumer article is Mortgage Accelerators, Money Merge, and Paying Your Mortgage Down, which deals bluntly with the contention that these programs that allegedly "pay off your mortgage in a fraction of the time" actually help. They don't. I...
New Consumer Article August 28th, 2008
Today's new consumer article is Rent to Own and Lease With Option to Buy, which talks about one alternative to the traditional sale that usually gets a seller a higher price, while not requiring a buyer to come up with...
The Lure and the Trap of Debt Consolidation - and the Possible Benefits
A while ago I did an article entitled Debt Consolidation Refinance - Pros and Cons. It's a good article, if I do say so myself. Nonetheless, I think there's more to say on the subject, not just from a point...
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...
Deferred Payment Mortgages - Not As Bad As I Expected
(Note: As of the time I updated this, the website of the company was off-line. I do not know why and a casual perusal of search engine results is uninformative) If that title seems to be damning with faint praise,...
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