Search Results for stated incometag:searchlightcrusade.net,2024:/mt//feed/stated income2024-05-02T09:56:41ZMovable Type 4.21-en2191219First 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...
How Can Buyers Get the Lowest Possible Price on the Best Possible Property?tag:www.searchlightcrusade.net,2009://3.48522024-03-25T14:00:00Z2024-03-25T17:03:30ZDan Melsonhttp://www.searchlightcrusade.net/
The first piece of advice I have for buyers who want to get a fantastic bargain is to find a good buyer's agent. Nothing else will make as much difference as a good buyer's agent who is dedicated to...
In 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...
Buyer's Markets: Time for Listing Agents To Earn Their Moneytag:www.searchlightcrusade.net,2008://3.37672024-01-15T15:00:00Z2024-01-15T18:40:47ZDan Melsonhttp://www.searchlightcrusade.net/
One of the most common things I'm seeing as I roam about the East County looking for bargains: Agents not doing their jobs. Even when there were 40-plus sellers per buyer, single family detached homes that are priced appropriately were...
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...
Issues with Family Transfers of Real Estatetag:gockel.hmdnsgroup.com,2006:/~searchli//3.24552023-11-20T15:00:00Z2023-11-20T13:14:56ZDan Melsonhttp://www.searchlightcrusade.net/
We live in (A California city). In a 2 bedroom 1 bath home on approximately a 20,000 Sq. ft. lot. It is easily worth 500K to 600K with a current mortgage of $116,000. The mortgage/Title is in the name...
What Do You Mean Back To Basics?tag:www.searchlightcrusade.net,2009://3.48372023-11-13T15:00:00Z2023-11-13T14:18:25ZDan Melsonhttp://www.searchlightcrusade.net/
For a period of several months when the market started imploding, I got mass messages from basically every lender I do business with, saying it's time to "get back to basics". My favorite A paper lender became the last to...
Manufactured, Modular, and Site-Built Homes: How Lending Practices Drive the Sales Markettag:www.searchlightcrusade.net,2007://3.37312023-08-14T14:00:00Z2023-08-14T16:21:44ZDan Melsonhttp://www.searchlightcrusade.net/
Many people are unaware how profoundly lending policies influence the market for residential property and the various kinds of housing and methods of construction. So I am going to go over the various gradations in available loans for various types...
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)....
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...
When Selling, You Need To Understand Your Target Markettag:www.searchlightcrusade.net,2009://3.47872022-09-19T14:00:00Z2022-09-19T13:45:29ZDan Melsonhttp://www.searchlightcrusade.net/
One of the hard things to get through to sellers is to understand the characteristics of the sort of buyers they need in order to have a successful transaction. If a given set of prospective buyers can't afford the property,...
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...
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...
Mortgage and Real Estate Red Flagstag:gockel.hmdnsgroup.com,2006:/~searchli//3.23862022-05-23T14:00:00Z2022-05-23T12:31:11ZDan Melsonhttp://www.searchlightcrusade.net/
This is going to be one of those occasional posts that gets expanded and reposted from time to time. This list is not exhaustive, although over time it is intended to become closer. If you have one, send it to...
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...
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:...
Wanting a More Expensive Property Than You Can Really Affordtag:www.searchlightcrusade.net,2009://3.47322022-02-21T15:00:00Z2022-02-21T17:10:27ZDan Melsonhttp://www.searchlightcrusade.net/
This is one of the biggest issues with my local real estate market. Because the San Diego market has very high demand and limited supply of property, prices are high. A reasonable two bedroom condo runs around $200,000. A 1200...
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...