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 

                                                           Federal legislation that will prevent discrimination against an applicant because of their race is RESPA. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False The ECOA or the Equal ...
07/31/2009
                                                              In lease-option type situations the rent charged to the tenant is rarely higher than the fair market rent for the property. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False T...
07/31/2009
                                                      It is never advisable for a buyer to consider raising cash for a balloon payment by refinancing his or her loan. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False Refinacing may be an...
07/31/2009
                                                               A seller will most likely consider using a seller second to supplement a new loan for a buyer when interest rates are high. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife phot...
07/31/2009
                                                            A land contract may be used to finance the buyer's purchase of a home. This is the first mortgage. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. True The land contract...
07/31/2009
                                                     A land contract is usually acceptable for a seller second which will supplement an institutional loan. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False A land contract can...
07/31/2009
                                                          The rule of thumb, when qualifying a VA loan applicant, is that debt to income ratio should not exceed 55%. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False The debt ...
07/31/2009
                                                        The VA will consider and allow secondary financing only if the total amount of the loan to be financed exceeds the appraised value of the property. Is this fact true or false ? Please remember to take your time. The solution is posted below ...
07/31/2009
                                                         A veteran is applying for a 400,000 dollar loan, which is the purchase price of the home, and has full VA entitlement. The home was appraised at 425,000 dollars. The required downpayment for the loan is 1.5% of the total loan amount, or $60...
07/26/2009
                                                     Prepayment penalties are always a condition of underwriting a VA loan. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False Prepayment penalties are not allowed with a VA loan...
07/26/2009
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David Saks

May God Bless You, Always. David
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