Search Results for penaltytag:searchlightcrusade.net,2024:/mt//feed/penalty2024-05-05T02:08:55ZMovable Type 4.21-en2961296In Real Estate, You're Better Off Doing One Thing At A Timetag:www.searchlightcrusade.net,2008://3.37742024-02-12T15:00:00Z2024-02-12T16:30:00ZDan Melsonhttp://www.searchlightcrusade.net/
Hi--I just found your site today. The best I've ever seen/read, etc. Thank You!! I do have a question I didn't see addressed regarding our current situation/dilemma: Our present home, which we've lived in for 8 years, is worth...
How Loan Providers Make Moneytag:gockel.hmdnsgroup.com,2006:/~searchli//3.24652024-02-05T15:00:00Z2024-02-05T17:39:19ZDan Melsonhttp://www.searchlightcrusade.net/
In an attempt to debunk some of the slanders that are floating around out there, this article is an itemization of how lenders and brokers make money on loans. The first method is obvious: Origination or discount points charged to...
Translation: Salesgoodspeakian to Englishtag:gockel.hmdnsgroup.com,2006:/~searchli//3.24642024-01-29T15:00:00Z2024-01-29T16:00:45ZDan Melsonhttp://www.searchlightcrusade.net/
It may not come as a shock to you, but loan officers, along with many other salesfolk, speak a different language than the rest of the population. What will probably annoy you, however, is the number of times they'll say...
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...
Why Do Lenders Sell Mortgages?tag:www.searchlightcrusade.net,2008://3.37632023-12-12T15:00:00Z2023-12-12T16:07:11ZDan Melsonhttp://www.searchlightcrusade.net/
When and Why does a Mortgage Company Sell your Current Loan to another Mortgage Company? Lenders sell their loans because the lender can make an immediate premium of anywhere from 1.5 percent to four percent by selling your loan...
Real Estate and the Tale of Aesop's Dog (Greed Envy)tag:www.searchlightcrusade.net,2009://3.48362023-11-08T15:00:00Z2023-11-08T15:23:14ZDan Melsonhttp://www.searchlightcrusade.net/
At a very young age, my parents bought me a book of Aesop's Tales. Aesop has gone out of style, probably because these are stories with a moral lesson, and it seems the modern society is actively averse to moral...
Impound Accounts Facts and FAQstag:gockel.hmdnsgroup.com,2006:/~searchli//3.24352023-08-28T14:00:00Z2023-08-28T16:04:56ZDan Melsonhttp://www.searchlightcrusade.net/
I've seen a fair number of questions on impound accounts in the last several months. An impound account, also known by the confusing term escrow account because the lender is holding it in escrow, is money that you give the...
Nightmare Mortgages and Self-Destructive Behaviortag:www.searchlightcrusade.net,2009://3.48232023-06-05T14:00:00Z2023-06-05T15:41:49ZDan Melsonhttp://www.searchlightcrusade.net/
This article started with another one of those desperate consumer fishing calls a while ago. Loan standards have tightened since then (In my considered opinion, over-tightened and the lenders and Wall Street will figure it out within a couple years)....
What Do I Do If My Loan Falls Through?tag:www.searchlightcrusade.net,2007://3.37012023-05-10T14:00:00Z2023-05-10T15:52:20ZDan Melsonhttp://www.searchlightcrusade.net/
"What do I do when the loan falls through" That depends upon when it falls through and what situation you're in. If you're in a refinance situation, you generally keep making payments on your old loan until and unless...
The Era of Make Believe Loans and The Law of Unintended Consequencestag:www.searchlightcrusade.net,2009://3.48092023-02-21T15:00:00Z2023-02-21T16:05:35ZDan Melsonhttp://www.searchlightcrusade.net/
One of the things I've heard and read other agents complaining about is that they can't find qualified buyers to represent. Welcome to Unintended Consequences 101. The way that the market had been working is this: Young, often unmarried, buyers...
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...
Games Lenders Play, Part V - Selling a Low Paymenttag:gockel.hmdnsgroup.com,2006:/~searchli//3.24012023-01-24T15:00:00Z2023-01-24T19:30:02ZDan Melsonhttp://www.searchlightcrusade.net/
Hello, I've been reading your website for awhile now, and have found it very helpful as I'm learning to navigate this crazy loan process! I had a question I was wondering if you could write about/answer. We currently have...
Mortgage Transaction Case Studytag:www.searchlightcrusade.net,2009://3.48002022-12-05T15:00:00Z2022-12-05T15:45:08ZDan Melsonhttp://www.searchlightcrusade.net/
Note: This article was originally published November 2007, when rates were higher than currently I had been corresponding irregularly with this gentleman during his hunt. It happens he lives outside of California, and I only work inside California, so...
Payment, Interest Rate and Up Front Costs: Choosing a loan intelligentlytag:gockel.hmdnsgroup.com,2006:/~searchli//3.23972022-11-08T15:00:00Z2022-11-08T16:29:34ZDan Melsonhttp://www.searchlightcrusade.net/
Most people tend to shop for a mortgage based upon the payment. They figure the lowest payment will be the cheapest loan. This is the way most people make banks rich. Because they are looking for the loan with the...
The Lender's Rule of Mortgage Paymentstag:www.searchlightcrusade.net,2007://3.36572022-10-24T14:00:00Z2022-10-24T15:54:38ZDan Melsonhttp://www.searchlightcrusade.net/
Every so often, someone who thinks they're a wit sends me a copy of The Rules For Relationships According To Women. Unlike those rules, which might have been funny around the time Nefertiti was a debutante, there are very few...
They Told Me Not To Make My Loan Paymenttag:www.searchlightcrusade.net,2010://3.50342022-08-22T14:00:00Z2022-08-22T11:02:19ZDan Melsonhttp://www.searchlightcrusade.net/
I've heard this story, in all of its variations, at least hundreds of times. Someone will send me an email and say "They told me not to make my loan payment because I was going to skip one. So...
Bridge Loanstag:gockel.hmdnsgroup.com,2006:/~searchli//3.23902022-08-15T14:00:00Z2022-08-15T16:46:53ZDan Melsonhttp://www.searchlightcrusade.net/
One of the things I'm seeing a lot of these days is blanket advice on bridge loans. A bridge loan is a loan that you take out with the explicit intention of having it be short term. The most common...
There Is No Fairy Godmother for Loanstag:www.searchlightcrusade.net,2010://3.50292022-06-07T14:00:00Z2022-06-07T10:14:36ZDan Melsonhttp://www.searchlightcrusade.net/
Really. I know that most people who read that title are replying "no kidding" but you would be amazed at how many people act like there is such a fairy godmother. I got an email yesterday that said, basically, "Help...
Issues with Multiple Mortgagestag:gockel.hmdnsgroup.com,2006:/~searchli//3.23852022-05-17T14:00:00Z2022-05-17T18:03:58ZDan Melsonhttp://www.searchlightcrusade.net/
We have several rental properties that we own (more than 10). When we were younger, before we got married, we both moved around a lot and bought houses, moved, stayed a year or so and did it again. I...
When You Should Not Buy Real Estatetag:www.searchlightcrusade.net,2007://3.35732022-03-21T14:00:00Z2022-03-21T16:01:13ZDan Melsonhttp://www.searchlightcrusade.net/
Okay, I did an article called Why Renting Really Is For Suckers (And What To Do About It). Fairness demands that I do a companion article on situations where buying is not a good idea. There actually are some. First...