tag:searchlightcrusade.net,2024:/mt//feed/disclosure 2024-04-26T04:55:26Z Movable Type 4.21-en 35 1 35 tag:www.searchlightcrusade.net,2009://3.4839 2023-11-27T15:00:00Z 2023-11-27T13:22:45Z Dan Melson http://www.searchlightcrusade.net/ There is no such thing as a free lunch, but lots of people will pretend there is. It seems to me that many people consider compensation earned by real estate agents as paying some kind of toll. They think of... tag:www.searchlightcrusade.net,2009://3.4831 2023-08-22T14:00:00Z 2023-08-22T15:10:03Z Dan Melson http://www.searchlightcrusade.net/ If you read the papers and the congressional record on the housing crisis, you might think yield spread is the central culprit for the entire meltdown. You would be wrong. Yield spread is a beneficial tool, offered voluntarily by lenders,... tag:www.searchlightcrusade.net,2009://3.4814 2023-04-24T14:00:00Z 2023-04-24T15:46:17Z Dan Melson http://www.searchlightcrusade.net/ I bought a condo in DELETED, CA. Zero down. For 7 months I paid every bill on time - mortgages, HOA and taxes until... The Homeowner's Association told us that we MUST pay a $20,500 special assessment. My realtor... tag:www.searchlightcrusade.net,2009://3.4805 2023-01-31T15:00:00Z 2023-01-31T16:41:28Z Dan Melson http://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... tag:www.searchlightcrusade.net,2009://3.4788 2022-09-28T14:00:00Z 2022-09-28T14:44:05Z Dan Melson http://www.searchlightcrusade.net/ what if i sign all the paper work for a house at a title agency, can i back off the house? Depends upon the laws in your state. The Federal three day right of rescission only applies to refinancing your... tag:www.searchlightcrusade.net,2009://3.4765 2022-06-20T14:00:00Z 2022-06-20T16:13:32Z Dan Melson http://www.searchlightcrusade.net/ My husband and I bought a golf course-view house in DELETED. We closed 5 days ago; moved-in 4 days ago; and 2 days ago found out that the golf course is scheduled to close. It was announced by the golf... tag:www.searchlightcrusade.net,2009://3.4762 2022-06-13T14:00:00Z 2022-06-13T16:48:24Z Dan Melson http://www.searchlightcrusade.net/ Over the last couple of decades, there's been a rising movement, mostly on the part of those who want a piece of real estate agents business, to sell agents as a toll booth. Tollbooths sit there, guarding the entry to... tag:www.searchlightcrusade.net,2009://3.4748 2022-04-25T14:00:00Z 2022-04-25T23:54:50Z Dan Melson http://www.searchlightcrusade.net/ I am about to close on a condo unit. At the last minute, we received the resale document from the management company. All units are being assessed a one time charge of $3000 due in full Nov. 1 for roof... tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2913 2021-10-04T14:00:00Z 2021-10-04T13:08:56Z Dan Melson http://www.searchlightcrusade.net/ Having written several articles on Negative Amortization Loans, telling of the details of what is wrong with them, and even destroying the myth of Option ARM cash flow, I sometimes get asked if I would like to see them banned... tag:www.searchlightcrusade.net,2009://3.4574 2021-08-13T14:00:00Z 2021-08-13T16:34:33Z Dan Melson http://www.searchlightcrusade.net/ I am continually confirming that a large percentage of people can't handle negotiations like an adult. They focus in on garbage and ignore what's really important. I recently was going to deliver a loan that cost less, as well as... tag:www.searchlightcrusade.net,2009://3.4527 2021-07-21T14:00:00Z 2021-07-21T14:51:28Z Dan Melson http://www.searchlightcrusade.net/ During the Era of Make Believe Loans, a lot of folks got used to zero real scrutiny of transactions. With values increasing rapidly, it was hard to lose money on real estate, whether you were purchaser or lender. One of... tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2681 2021-03-05T15:00:00Z 2021-03-05T12:17:35Z Dan Melson http://www.searchlightcrusade.net/ I keep getting search result hits for the string "fsbo horror." It's an amalgamation because I haven't done any postings on this specific subject. Both buyers and sellers have problems relating to For Sale By Owner issues. For sellers, the... tag:www.searchlightcrusade.net,2010://3.4933 2021-01-25T15:00:00Z 2021-01-25T16:20:38Z Dan Melson http://www.searchlightcrusade.net/ Dear Mr. Melson: My husband and I are great fans of your Searchlight Crusade essays. Excellent work! In today's mortgage-mess market, will lenders reject loan applications from average buyers (not investors) wanting to purchase acreage with a teardown outside the... tag:www.searchlightcrusade.net,2008://3.4149 2021-01-16T15:00:00Z 2021-01-16T13:36:42Z Dan Melson http://www.searchlightcrusade.net/ I just went out doing some general market scouting. Looked at ten properties, and at least three were of a sort that I've started calling "vampire properties." Vampire properties are one more reason you want a good buyer's agent, and... tag:www.searchlightcrusade.net,2008://3.3820 2020-08-25T14:00:00Z 2020-08-25T16:48:06Z Dan Melson http://www.searchlightcrusade.net/ I recently closed a mortgage loan. The loan officer told me there would be no prepayment penalty. When the documents came there was none and the loan funded and closed. Two weeks later I got an e-mail stating some... tag:www.searchlightcrusade.net,2009://3.4766 2015-08-12T14:00:00Z 2015-08-12T13:47:54Z Dan Melson http://www.searchlightcrusade.net/ Scapegoating, anyone? Brian Brady notes Barney Frank's misplaced quest for one. 1- Prohibition of "yield spread premium" as compensation to originators. 2- Mandatory licensing of mortgage originators by a Federal registry or state regulator. This Bill does direct the... tag:www.searchlightcrusade.net,2009://3.4815 2012-08-09T14:00:00Z 2012-08-13T13:26:51Z Dan Melson http://www.searchlightcrusade.net/ One of the worst things about the loan process, and indeed, found throughout the whole real estate industry, is the idea that if you can just delay telling the client about something they won't like, it's more likely they'll continue... tag:www.searchlightcrusade.net,2009://3.4803 2011-01-08T17:00:00Z 2011-01-08T17:22:12Z Dan Melson http://www.searchlightcrusade.net/ I originally wrote this over 3 years ago. Congress has done precisely nothing to fix the real problems, instead indulging in scapegoating of brokers so that their campaign contributor banks could pretend that they do not bear the largest... tag:www.searchlightcrusade.net,2008://3.4159 2008-07-21T14:00:00Z 2010-02-27T17:01:45Z Dan Melson http://www.searchlightcrusade.net/ Dear Mr. Melson: My husband and I are great fans of your Searchlight Crusade essays. Excellent work! In today's mortgage-mess market, will lenders reject loan applications from average buyers (not investors) wanting to purchase acreage with a teardown outside the... tag:www.searchlightcrusade.net,2008://3.3600 2008-01-04T15:00:00Z 2009-09-03T13:42:44Z Dan Melson http://www.searchlightcrusade.net/ There is no such thing as a free lunch, but lots of people will pretend there is. It seems to me that many people consider compensation earned by real estate agents as paying some kind of toll. They think of...