In many transactions when I originally wrote this, the buyer has absolutely no money, or an amount that was not sufficient to pay the costs that they would traditionally be expected to pay in order to close the transaction. Today, unless they’re eligible for a VA loan, there is no such thing as a “no …
Continue reading “Seller Paid Closing Costs (or, When Your Prospective Buyer Has No Money)”
One of the things that has a lot of issues is any transaction between related people. This is not limited to purely family transactions, but applies also to transfers among partnerships and their partners, corporations and their officers. The market theory holding that the value of a property is what is agreed to between a …
Continue reading “Loans On Related Party Transfers of Real Estate – Family, Corporate, or Partners”
The most recent hot thing in mortgage circles is a mortgage accelerator program. Now I’ve heard other things, most notably biweekly payment programs, called mortgage accelerators in the past, so let me take a moment to define exactly what I’m talking about. A mortgage accelerator is essentially a combined mortgage and checking account, where every …
Continue reading “Mortgage Accelerator Programs: A Good Basic Idea, But the Devil Is In the Details”
This is part and parcel of the system that’s abused. Here are sample rates from one A paper lender, picked at random, that were in effect when I originally wrote this. Rates are lower now, but it’s a good example nonetheless. These were Fannie and Freddie conforming 30 year fixed rate mortgages with full documentation …
Continue reading “Loan Rate Sheets: The Games Lenders Play With Rate and Cost Adjustments”
An email I got Tuesday November 28, 2006: My husband and I are not specifically on the market at the moment for a property but are always on the lookout for a great bargain. We have children, so school district is a big factor, but if the right place for the right price comes around, …
Continue reading “Solicitation for Fraud and Conspiracy, or Entrapment?”
Found this on a public forum I need help to stop foreclosure on my home. I need to sell quickly? I am a couple months behind on my payments and want to sell now. I am not looking to make a profit just need to get what i owe. Boy, did the sharks swarm over …
Continue reading “Selling to Avoid Foreclosure in a Buyer’s Market”
Tessa was desperate, and a two year contract with an Imperial Embassy looked like the way out. Helping a newly contacted species develop to a point where they’re ready to deal with the universe is a years-long project, and those whose missions succeed can expect more lucrative contracts in the future as well as the …
One of the things that sticks out about buyer’s markets is that there are two sorts of listings: Those who are willing to do whatever it takes, anything it takes, to get the property sold, and the other who apparently just likes having the property in MLS. Many listing agents have made a habit of …
Continue reading “Selling In Buyer’s Markets: Do You Need to Sell Or Are You Part of The Problem?”
I live in (City 1) and recently signed a work order on a semi-custom new construction house in (City 2). My wife and I make a combined 120K income and still can’t afford a decent place in City 1. It was preapproved rather quickly from both the builder’s mortgage company and a few outside companies …
A while ago I talked about Passive Asset Allocation as a way to beat market return as a strategy. So I’m going to write a bit about what it is, why it works, and how to do it. Passive Asset Allocation is very simple at its heart. What you are doing is keeping the balance …
