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.
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ARCHIVED BLOG POSTS
2014
Glossary of Real Estate and Mortgage Terms =============================================================== Cap A limit on how much the interest rate or monthly payment of an ARM can change, either at each adjustment or during the life of the mortgage. Payment CAP's don't limit the amount of ...
08/31/2014
Glossary of Real Estate and Mortgage Terms ======================================================================= Balloon Note A note calling for periodic payments which are insufficient to fully amortize the face amount of the note prior to maturity, so that a principal sum known as a "Ball...
08/31/2014
Glossary of Real Estate and Mortgage Terms ============================================ Abstract A summary; an abridgment. Before the use of photostatic copying public records were kept by abstracts of recorded documents. Abstract of TitleA compilation of the recorded documents relating t...
08/31/2014
The "American Dream" has never been clearly defined by the cheerleaders of recently faultering industry as to whether or not that dream would become a good dream or a nightmare, and, indeed, the American Dream became the "American Nightmare" for millions of homeowners in this nation. I deplore...
08/31/2014
I was a little guy. Didn't say much. Minded my own business. But I loved my bicycle. The other kids knew it. One of the bigger guys in the neighborhood knew how much I loved my bike and confronted me one day and said: "Saks, you know, that bike of yours is pretty nice. What if somebody took a ba...
08/31/2014
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It was 100 degrees in Memphis. A hot day. You could see the mirage on the asphalt on the avenue. Stray dogs looking for a cool drink of water. Nobody walking down the street. All the car windows up and the air conditioners on. I was a dog day in the Delta, and the local daily newspapers and bus...
08/31/2014
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While banks were collapsing, hundreds of mortgage brokerages being shut down, corrupt government, foreclosures in the hundreds of thousands, corporate executives hauled off to prison and bankruptcies by the millions I thought we could use a nice message from the Great Schnozzola as a reminder. S...
08/31/2014
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Do you get those stupid '5% cash back at the pump' offers ? Isn't it insulting ? Fuel is already being pirated and it seems like there's not a damned thing we can do about it ! Our colleagues are having the rear end of their trousers ripped out because of the cost of gas. So what difference does...
08/31/2014
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Do the math. Financing was once a bargain. Cheap money was everywhere when home prices were high. The joke was that if your FICO score was -50, if you were a day out of bankruptcy, 12 hours out of foreclosure, you could still buy a house. When home prices were plummeting, sinking, dropp...
08/31/2014
Do you wonder why every time you turn around the national, local or state board is mandating or hawking some 3, 4, 6, 8, 12 hour or more continuing education class? Some classes free, some costing hundreds or thousands of dollars? If we weren't required to belong to the national or local board...
08/31/2014