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 completely. Well, given the pandemically misleading marketing that surrounds these loans, and pandemically poor disclosure …
Continue reading “Should Negative Amortization Loans Be Banned?”
Continued from Part 1: Preparation and Part 2: Process This is about the long term consequences of the decision to buy or not to buy a home, and economic benefits analysis into whether you should want to buy. In order to answer the question of whether it’s better to buy or rent and invest the …
Continue reading “Should I Buy A Home? Part 3: Consequences”
Continued from Part 1: Preparation I am considering buying a home, although I have not made up my mind on the subject. This is not due to indecision, but rather due to a lack of necessary information. There are many factors to be considered in my case, and in order for me to make an …
I am considering buying a home, although I have not made up my mind on the subject. This is not due to indecision, but rather due to a lack of necessary information. There are many factors to be considered in my case, and in order for me to make an informed decision about buying, I …
Many people are unaware how profoundly lending policies influence the market for residential property. So I am going to go over the various gradations in available loans for various types of property. Pretty much everyone is familiar with the standard house, built on site, mostly by hand, from basic materials. Called “stick built” to differentiate …
Ken Harney had some welcome news on Move afoot to end uninvited mortgage pitches To a certain extent, these are a good thing for consumers. However, it gets way overdone. What happens is this. Let’s sat I get a client into my office, they apply for a mortgage, and I run their credit. The three …
Continue reading “Making Certain You Shop Your Mortgage – Whether You Want To Or Not”
What happens if a home you signed to purchase goes into foreclosure before the closing date? We were supposed to close on a home four months ago. On the day of closing we get a call from the seller’s realtor that the sellers owe 22K and need time to figure out negotiations w/the mortgage company. …
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 lender in order to pay the property taxes and homeowner’s insurance on the property when …
Is it unwise to use the listing realtor as your purchase realtor? A house I’m interested in purchasing is being sold by the realtor selling my house. Although she’s done a decent job selling my house, I fear she won’t negotiate well on my behalf if she has to divide her loyalties between these listers …
Continue reading “Dual Agency: Using the Seller’s Agent as Your Buyer’s Agent”
A while ago, I had two publishers ask me if I would read books for review purposes on my site. I said that I would be glad to. One of the publishers included this little book on communicating between “suits” (businessfolk) and “geeks” (technical folk). Having a background on both sides of the fence (math, …
Continue reading “Book Review: The Geek Gap By Bill Pfleging and Minda Zetlin”
