Search Results for RAMstag:searchlightcrusade.net,2024:/mt//feed/RAMs2024-04-27T13:32:57ZMovable Type 4.21-en2371237The Biggest Risktag:gockel.hmdnsgroup.com,2006:/~searchli//3.24752024-04-22T14:00:00Z2024-04-22T13:01:50ZDan Melsonhttp://www.searchlightcrusade.net/
If you've been around the financial planning business any length of time, you've likely run into the saying "The biggest risk is not taking one." It is endemic to all financial instruments, indeed, all investments, that return is the reward...
First Time Buyer Programs: The Mortgage Credit Certificate (MCC)tag:www.searchlightcrusade.net,2008://3.38052024-04-15T14:00:00Z2024-04-15T15:36:09ZDan Melsonhttp://www.searchlightcrusade.net/
This is a nationwide program for first time home buyers that helps them qualify for the loan by saving them even more money on their tax bill. With that said, however, the state of California accounts for more than 50...
Low Asking Price on Unfinanceable Propertiestag:www.searchlightcrusade.net,2011://3.50442024-01-08T15:00:00Z2024-01-08T20:04:07ZDan Melsonhttp://www.searchlightcrusade.net/
At any given time, I will usually have at least one set of clients who really need to consider a condo or townhome who nonetheless have their hearts set on a single family residence. I agree to include single...
Fear and Greed, or How Did The Housing Bubble Get So Big?tag:gockel.hmdnsgroup.com,2006:/~searchli//3.24562023-12-18T15:00:00Z2023-12-18T15:48:25ZDan Melsonhttp://www.searchlightcrusade.net/
(This was originally written February 16, 2006, but it's relevant still) One of the occasional questions I get from people has to do with why the housing bubble got so big (or if you're one of those still in denial...
Automated Underwriting In Pre-Qualification or Pre-Approval Letterstag:www.searchlightcrusade.net,2011://3.50432023-08-07T14:00:00Z2023-08-07T15:54:27ZDan Melsonhttp://www.searchlightcrusade.net/
It has become a trend for real estate agents who think they're being "smart" to require an automated underwriting approval. These are automated underwriting programs from Fannie Mae and Freddie Mac saying that Fannie or Freddie will buy the...
First Time Buyer Programs and Multi-Family Housingtag:www.searchlightcrusade.net,2009://3.48262023-06-26T14:00:00Z2023-06-26T13:26:44ZDan Melsonhttp://www.searchlightcrusade.net/
Can I qualify for first time home buyer financing if I buy a duplex and live in one and rent out the other? I thought if I bought a duplex, lived in one side and rented out the other would...
Buying Without An Agent - My Own Experiencetag:www.searchlightcrusade.net,2009://3.48222023-05-30T14:00:00Z2023-05-30T15:30:11ZDan Melsonhttp://www.searchlightcrusade.net/
I had the idea for this article some time ago. It took me a long time to decide to share it publicly, because quite frankly, knowing what I know now, I was an idiot. I was still young enough to...
How to Avoid A Repeat of the Housing Market Messtag:www.searchlightcrusade.net,2009://3.48052023-01-31T15:00:00Z2023-01-31T16:41:28ZDan Melsonhttp://www.searchlightcrusade.net/
Scapegoating mortgage brokers or anyone else is not the answer, nor is prohibiting yield spread. We've been here before (in the early 1990s), congress did something remarkably similar except a little bit more sane. It didn't work then. Why would...
The Bank Wants Their Money - And They Are Entitled To Ittag:www.searchlightcrusade.net,2014://3.51092023-01-09T15:00:00Z2023-01-09T14:32:46ZDan Melsonhttp://www.searchlightcrusade.net/
This comment was left on another entry I got behind 5 months, in months of 01/2010 to 05/2010. Home was paid cash for in 11/2000,took out a first mortgage in amount of 75thou.House went into default, I sent in 3...
Some Offers Are More Equal Than Others (Even If They Are For Less Money)tag:www.searchlightcrusade.net,2011://3.50392022-11-21T15:00:00Z2022-11-21T16:35:52ZDan Melsonhttp://www.searchlightcrusade.net/
The phrasing in parallel with Animal Farm is intentional. Sellers need to understand this, and so do buyers, especially in a hot real estate market. Some offers are more equal than others, and knowing how to choose between competing...
Loan Rates for Low Income Familiestag:www.searchlightcrusade.net,2009://3.47802022-08-08T14:00:00Z2022-08-08T13:56:57ZDan Melsonhttp://www.searchlightcrusade.net/
What is a good interest rate for a house that is for someone with low income? Well, if you make enough to afford the property, your income isn't a factor on the interest rate you get! You either qualify or...
Reserves for Real Estate Loanstag:gockel.hmdnsgroup.com,2006:/~searchli//3.23832022-05-09T14:00:00Z2022-05-09T16:04:28ZDan Melsonhttp://www.searchlightcrusade.net/
Thanks again for the terrific posts. I've learned more about mortgages in the past two months than I ever dreamed I might. I am looking to buy my first home soon, and have myself in a good credit position...
Economics of Housing in High Density Areastag:www.searchlightcrusade.net,2009://3.47382022-03-28T14:00:00Z2022-03-28T15:06:13ZDan Melsonhttp://www.searchlightcrusade.net/
Here are the facts of the situation, whether you're talking about San Diego or Manhattan, the Bay Area, Los Angeles, or any of the other densely packed, high cost areas where all the employment and career opportunities are. Fact 1:...
Don't Rely On Reputation - There Are No Silver Bulletstag:www.searchlightcrusade.net,2007://3.35492022-02-14T15:00:00Z2022-02-14T19:01:34ZDan Melsonhttp://www.searchlightcrusade.net/
On a regular basis, I get emails that ask me what I think of a particular company. When I check out public forums, I see questions about particular companies every time. "What do you think of X Realty, or Y...
Full Circle: Back to More Traditional Lending Standardstag:www.searchlightcrusade.net,2009://3.47192021-12-21T15:00:00Z2021-12-21T18:14:13ZDan Melsonhttp://www.searchlightcrusade.net/
When things went south in the real estate market, I saw more changes in the lending industry in a few months than the previous five years. But those changes mostly restored us to the place we were a few years...
Buying Investment Property - An Example of the Issuestag:www.searchlightcrusade.net,2007://3.35332021-11-29T15:00:00Z2021-11-29T16:59:47ZDan Melsonhttp://www.searchlightcrusade.net/
My aunt is going to move to a new condo and wants to sell her old one. I would like to buy her old condo as an investment and rent it out (as I am already a home-owner). This...
Student Loans and Real Estate Loans: Default, Repayment vs. Nonpayment and Consolidationtag:www.searchlightcrusade.net,2010://3.50232021-11-15T15:00:00Z2021-11-15T13:02:07ZDan Melsonhttp://www.searchlightcrusade.net/
This is one of those things that trips up people to buy a house or refinance it: student loans. First off, Form 1003, the Federal Uniform Residential Loan Application has the following relevant questions on page 4, among the...
Buying Real Estate Isn't Simpletag:www.searchlightcrusade.net,2010://3.50222021-10-30T14:00:00Z2021-10-30T13:32:48ZDan Melsonhttp://www.searchlightcrusade.net/
And I don't know why people expect it to be. Cancel that. I do know why. Popular media. It's not all that common in popular media, but on those occasions I see someone buying a house in the movies...
Restricted Sale Property: Very Difficult to Find A Loan (Even harder to find a good one)tag:www.searchlightcrusade.net,2010://3.50212021-10-28T14:00:00Z2021-10-28T12:16:39ZDan Melsonhttp://www.searchlightcrusade.net/
This is a warning to those who purchase restricted sale property. I've gotten a couple of calls for refinancing these in the past couple months, and I've never covered this subject. A restricted sale property is one where the...
Low Equity (or Worse!) Relocations in a Buyer's Markettag:www.searchlightcrusade.net,2009://3.46932021-10-26T14:00:00Z2021-10-26T13:09:44ZDan Melsonhttp://www.searchlightcrusade.net/
Hi, Dan! I just came across your website and you strike me as the type of guy who has answers for our situation: My husband and I built our home 2.5 years ago. We took out a second mortgage...