I got a question about “what does it mean if my loan is not funded after right of rescission?” It likely means your loan provider lied to you, probably from day one. Once you have signed documents, there shouldn’t be anything but procedural matters left. Things that cannot be taken care of earlier. Things like …
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When The Loan Underwriter Makes A Mistake
“challenging underwriters mistakes in housing loan paperwork” was a search that I got. You can’t challenge them. Butting heads with an underwriter is stupid and counterproductive. There’s only one person who gets a vote, and it’s not you, whether you are an applicant, processor, or loan officer. The underwriter may not be the original application …
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The Pin That Pops the Housing Bubble?
This was originally published in Jun 2006, and what it describes was indeed that pin. The housing bubble is not the primary focus of this website, but to pretend it does not exist is plainly wishful thinking. One of the ongoing phenomenon that have been driving the bubble is the “Stated Income”loan, where the lender …
The Effects of Divorce on Real Estate
The bottom line on this question is always, “Whatever the courts say.” Divorce law is complex, and different from state to state, and even when you think you’ve got a clear message in the law as written, the courts may interpret it differently, or there may be precedent that says otherwise, or even just some …
Legal Late Payments on Your Mortgage
(I have noticed a fair number of hits to this article that, judging by their search query, probably want the article on What Happens When You Can’t Make Your Real Estate Loan Payment instead) I got a question about legal late payments in California. Unfortunately, there really is no such thing as a legal late …
Housing Bubble Death Trap
That was the wording of a search engine hit I got. It’s not literally a death trap, of course, only much financial pain. But the hyperbole is forgivable in today’s modern society and the state of the current market. Other people may have other definitions of “housing bubble death trap,” but when I’m talking about …
Homesteading and Declaration of Homestead
One topic I haven’t covered yet here is homesteading. This has nothing to do with the Homestead Act of 1862 that encouraged settling the western United States. A declaration of Homestead basically protects your equity. In many cases, you may not even have to file a declaration to receive the benefits, but whether this is …
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Failures of Imagination?
I recently discovered the film Secondhand Lions. Robert Duvall, Michael Caine, and Haley Joel Osmont. Beautiful tightly plotted movie, highly recommended, and if it hadn’t been up against Return Of The King it might have won Best Picture. Robert Duvall and Michael Caine are a pair of brothers, old coots who disappeared for forty years …
Buyer’s Basic Guide to The Foreclosure Market and REOs
I’ve written articles on when you can’t make your mortgage payment and how to react if you see foreclosure coming in time to do something about it, and even on Short Payoffs, but all of those are owner (seller) oriented. This is intended as a basic buyer’s guide to getting a bargain from people who …
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Shopping for Long Term Care Insurance – Who Should and Shouldn’t Buy, and Policy Characteristics
I’ve run two prior articles this week on the theme of Long Term Care, one on Long Term Care Issues, and one on Non-Tax-Qualified versus Tax-Qualified, and Partnership Insurance Policies. Now, I’m getting down to nuts and bolts of what you need to know while shopping for a policy. The two most important characteristics are …