Most days I get loan wholesalers coming into my office. I’m always happy to talk with them, providing they want to talk about what I want to talk about. They usually want to talk about this gimmick and that gimmick and the other gimmick. They feed me lines about service and fast turn around and …
Continue reading “Some Free Loan Advice About Real Estate Transactions”
July first marks one of the turning points in the year for California real estate, as property taxes are collected for a period running from July 1 through June 30. They are paid in two installments, the first due due November 1 (past due December 10) that covers the first six months, from July 1 …
I got a search for how one spouse could sign while the other was out of town, and act on their behalf. Since both spouses usually need to sign real estate papers, this is a real concern. Actually, almost anybody you designate can sign for your real estate transaction, whether or you’re available. The usual …
Continue reading “Power of Attorney for Real Estate Transactions”
I got a search hit for that and, amazingly enough after 150+ articles, I’ve never dealt with this subject head on. So here goes. One point, either discount or origination, is one percent of the final loan amount. After all of the loan amounts and fees and what have you are added, for a loan …
Continue reading “What Are Points On Mortgages and How Do They Work?”
Wall Street loves fear and greed. Every time some bad news hits, a lot of benighted investors sell investments that were basically solid. Causing the price they can get for their investments to drop (higher supply, lower demand). Every time a piece of unexpected good news hits, you can expect stock price to take a …
Continue reading “Volatility: A Regular Investor’s Best Friend”
A little over one year ago, the Supreme Court handed down the decision in Kelo, which held that the city of New London could condemn land to sell it to private developers in order to increase the tax base. At the time, it generated huge amounts of outrage – the formation of Life Liberty Property, …
Well, sometimes. Okay, most of the time. But not always. Foreclosures: Bargain hunters beware! Myth no. 1: A big spike in foreclosures is right around the corner… …That’s because in most of the country, anyone who has owned a home for even a year or two is likely sitting on enough equity to sell or …
Right now lender X is offering me a loan that looks something like this: 80/20 No down paymentOn the /80: 6.5% FIXED interest for 30 years, interest-only payment option for 15 yearsOn the /20: 8.75% FIXED interest for 25 years (amortized to 30) 6-month lock for 1-point ($3800) refundable fee with float-down option My response: …
“buyers agent refuses to make offer” was a search hit I got recently. This is yet another reason not to sign exclusive buyer’s agent agreements. My guess is that the CBB is lower than the agent would like. The CBB is the “cooperating brokers” payment – that share of the selling agent’s commission that will …
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Not interested? Most people aren’t when it’s talking about how they got taken advantage of in the past. First off, it’s in the past so it is over and done with, and there’s no use dwelling on it, right? Second, there’s the ego thing. Nobody who’s been bragging about what a great deal they got …
Continue reading “Let Me Tell You About The Loan You Could Have Had”
