David Saks

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Education & Training - TN LIC# 290452 (retired)
David Saks is a musician, retired real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2009 

                                                      A homeowner has without warning, and without knowing, constructed a fence in his backyard about 7 inches over the property line of his neighbor. This would be considered an encroachment. Is this fact true or false ? Please take your time. The ...
06/30/2009
                                                        A lender charged a borrower 6% for the loan plus 6 discount points. The yield to the lender for the loan is 6.25%. Is this fact true or false ? Take your time. The solution is posted below the wildlife photo. A. False Discountpoints are a pe...
06/30/2009
                                                            A broker's obligation to a customer includes the duties of full disclosure and obedience. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False The duties of full disclosure and obe...
06/30/2009
                                                         A developer subdivided and made some improvements to a 150 acre parcel of land. The developer created several restrictions, which, by design, were placed in the deed to affect the subdivision. These restrictions affect all of the owners and...
06/30/2009
                                                      Once the underwriter has been able to verify the amount of a borrower's stable monthly income, the underwriter will then use a process which will employ gross multipliers to determine whether or not the income is adequate enough to repay the l...
06/30/2009
                                                        The quality of a loan applicant's income generally depends on whether or not it's taxable income in the decision making process for the underwriter, and not as much the dependability of the income. Is this fact true or false ? Please take yo...
06/30/2009
                                                        Stacy is a college student that is buying her first home. She doesn't have enough money for the closing table so her parents have graciously offered to give her 4000 dollars to close with as a gift. In this situation the loan underwriter mus...
06/30/2009
                                                              When the underwriter aquires the credit report of the applicant it will usually contain information pertaining to the applicants debt and payment history for the last ten years. Is this fact true of false ? Take your time. The solution...
06/27/2009
                                                            Frederick and Marlene Silverman have a monthly housing expenditure of 1500 dollars, their monthly credit card payments equal 200 dollars, and they have a car note of 225 dollars. They have a monthly income of 5500 dollars. What is their ...
06/27/2009
                                                            A rule of thumb for a lender when considering a loan application is that the borrower should have been continuously employed on the same job for a  minimum of five years. Is this true or false ? Take your time. The solution is posted bel...
06/27/2009
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David Saks

May God Bless You, Always. David
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