Top 10 Questions to Talk Over with Your Attorney Prior To The Pre-Foreclosure Decision
By Jim Soda
It is imperative that any homeowner seeking to determine if a short sale is in their best interest, be able to distinguish between their own interests and the interests of lenders, buyers, investors, and real estate-related professionals
Seller Financing
By Jeff Riddell
It’s hard to get a mortgage these days. So, what’s a seller (and maybe the seller’s real estate agent) to do? Seller financing (sometimes called owner financing) may do the trick. Florida recognizes several approaches, each with its pros and cons.
First there is the traditional seller carry-back mortgage. The buyer and seller sign [...]
Improved Short Sale Process
By C. J. Coury
The Short Sale phenomenon that has been escalating over the past few years has reached the point where some drastic changes are needed.
Today’s most prominent process model for these transactions requires that an offer to purchase be presented to the servicing lender prior to any action being taken to [...]
Take Over The Payments
By Jeff Riddell
Unfortunately, many people would like to dump their properties even though they made substantial downpayments. Some use jingle mail (send the keys to the lender and walk away). There are consequences, however. Since the lender will still need to foreclose, the owner will still have a foreclosure on his record. [...]
Refinance Now
By C.J. Coury
Although it is certainly more challenging to obtain a new mortgage loan in today’s market you simply must make the attempt if you have an interest rate above, at or near 6%. It is widely believed that rates will begin to rise this spring and could increase as much as 1% or [...]
1031 EXCHANGE
By Jeff Riddell
If there are taxes to be saved, a 1031 exchange should be considered as the exit strategy for any real estate that qualifies. Under the current rules the process is simple: Hire a qualified intermediary (QI) company and sign an exchange agreement, sell your relinquished property, escrow the proceeds with the QI [...]
1031 Exchange Qualified Properties
By Jeff Riddell
Over the last several articles, we have covered real estate investing for various age groups, from youngest to oldest. One thing is common to all of the age groups: There will come a time when every real estate investor decides to dispose of his investment. If you don’t like to [...]
Financing “As-Is” Properties
By C. J. Coury
A rarely used loan product, the FHA 203(k), is fast becoming one of the hottest topics on the training front. The renewed interest in this evolving product is due to the high number of distressed properties on the market and the declining amount of “cash” buyers to sell it to [...]
RESPA/Regulation X Changes
Information Courtesy Of C. J. Coury
The U.S. Department of Housing and Urban Development (HUD) has announced significant revisions to the lending requirements under RESPA/Regulation X. These changes impact the Good Faith Estimate (GFE) and HUD Settlement Statements (HUD-1 and HUD-1A) and will be effective with new first mortgage applications taken on or after [...]
Appraisal Reconsideration Requests – How To?
By C. J. Coury
In accordance with the new Home Valuation Code of Conduct (HVCC) lenders are no longer allowed to select the appraiser or question them on their evaluations. While this will certainly all but eliminate fraud in the evaluation process it has caused some new concerns for lenders and [...]
Tuesday, June 8, 2010
0 Comments