Real estate blog entries tagged with financing by Dave Rosenmarkle (Highland Realty)

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financing: Who Will Provide Mortgage Relief for American Veterans Wounded in Iraq and Afghanistan? - 04/23/09 05:57 PM

Clearly, everyone who has trouble making mortgage payments does not deserve a bail-out. But figuring out who does is proving to be tricky. So while the Obama administration scrambles to check the surge of middle-class foreclosures, many Americans will continue to complain that not enough is being done, that they have … (0 comments)

financing: A boost for Credit Scores?? - 08/04/07 05:56 AM

Did you know that more than 50,000,000 people have Capital One Credit cards? I have two of them. After many years of refusing to disclose, Capital One has now agreed to report borrower balances and limits. So what’s the big deal? For some people, it could mean the difference between having … (6 comments)

financing: Reverse Mortgages: Many Boomers will need them!! - 07/14/07 07:30 AM

Are you an expert on Reverse Mortgages yet? If not, you really need to start looking into it. As we all know, Boomers have set all major trends since the 1950's and, this is coming too: Many people at or approaching retirement age are still carrying large mortgages on the current … (3 comments)

financing: Finally - Bill Making Mortgage Fraud a Crime - 07/06/07 06:23 AM

Newly approved legislation criminalizes mortgage fraud for the first time in Florida, where the crime has reached epidemic levels in the wake of a real estate boom fueled in part by risky loans. Florida leads the nation in mortgage fraud, and Miami-Dade and Broward counties lead the state. Senate Bill 1824 … (5 comments)

financing: When a buyer is about to be fired…. - 10/02/06 09:49 AM

I recently learned about a transaction where the buyer was an employee for a company where the buyer’s agent’s wife is an officer. The buyer agent’s wife was aware of the pending transaction and, she told her husband that this employee is going to be fired, but that the announcement … (4 comments)

financing: The IRS is partnering with Mortgage Companies (sort of) - 09/30/06 08:55 AM

Starting this Monday, if you have any clients who are planning to apply for a mortgage using a “Stated Income” or other limited-document approach, they had better be careful what income they post on the loan application. The IRS has recently overhauled a key income verification tool used by lenders, … (16 comments)

financing: A Fixed-Rate Solution to Equity Line Uncertainty - 09/23/06 05:05 AM

There was an interesting article in the Post today about options for reducing payments and making home equity line payoff more predictable. With the slowly, but steadily increasing interest rates, particularly for home equity loans, some folks are getting nervous about payemts on $70,000 to $100,000 and more lines of credit. … (2 comments)

financing: New Credit Scoring Standards? - 09/15/06 05:36 AM

Back in March, TransUnion, Experian, and Equifax launched VantageScore to "standardize" the way credit scores were calculated as an alternative to FICO. What has been the effect (if any) of the alternative scoring method? Is this a form of "grade inflation" or a good alternative to FICO?
Has anyone (Lenders or … (3 comments)

financing: Wrap Loans Are Still Around!! - 09/11/06 05:15 AM

Wrap Loans Are Still Around!!
"Wraps" are STILL being done. It just depends which real estate submarketyou are working in. In 1-4 family residential like most of us here work,wrap loans are rare. And there are a variety of ways to structure a wraploan.In fact-- killing two birds with one stone-- a … (2 comments)

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