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Do You Need a Real Estate License to "Flip" Properties? - 07/27/07 01:09 PM
You buy a property, you flip it, you profit. Does this require a real estate license? In most cases, the answer is "no". Real estate brokerage is an activity regulated by states on their own terms, thus each state defines which activities require a license. There is a lot of vagueness and ambiguity in some of the state licensing codes, as well as "gray areas", which complicate the matter. Furthermore, if you vary the techniques and your business practices beyond the scope of what I teach in my course, it is not always clear how the state authorities might view your … (6 comments)
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Freddie Mac Home Possible Program - 07/26/07 12:13 PM
Effective recently, conforming lenders will accept loan submissions and locks for the Freddie Mac Home Possible program. Details for the program can be found at http://www.freddiemac.com/homepossible/ or you can check out the program matrix for the My Community and Home Possible programs on most rate sheets. You must be approved by Freddie Mac to utilize their Loan Prospector underwriting engine. You can visit their website at http://www.loanprospector.com/signup/ for details.Personally, I think the Home Possible program is going to be a spitting image of what MyCommunity was earlier this year - a flexible 100% loan program with reduced MI and a 1pt … (1 comments)
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Choosing a House that Fits You - 07/13/07 12:16 PM
Choosing a House that Fits YouAmongst the many things to consider when buying a home, one of the most important and sometimes overlooked factors is the actual house itself. Don't forget this is going to be the place you go home to every night, the place your kids will grow up in and always remember.Before you start looking at houses, you need to ask yourself what it is you want out of a house. How long do you plan on living in it? Will you be living there temporarily while you save up for a better one or will this be … (1 comments)
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The Dos and Don'ts of Buying a House - 07/13/07 11:58 AM
The Dos and Don'ts of Home BuyingDo Shop Around - Don't just hold interest in one house, check out a handful. Find out about the neighborhood, traffic, schools, and local entertainment. Talk to the people that have lived in the neighborhood for some time and find out their opinions and biggest complaints. And remember that the lowest price isn't always the best deal and that some houses can be deceivingly cheap. It's better to do too much research than not enough; you'll thank yourself for years to come.Do Get to Know Your Realtor - There's so much to know about real … (2 comments)
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The Dos and Don'ts of Selling Your House - 07/13/07 11:50 AM
The Dos and Don'ts of Selling Your HouseDo Shop Around - Don't consider moving unless you have already researched the market and are financially able to purchase the type of home you want. Research the homes in your local neighborhood to see what they are being sold for and take into consideration any major repairs, additions, or investments you put into the house. It's better to do too much research than not enough; you'll thank yourself for years to come.Do Get to Know Your Realtor - There's so much to know about selling your home that you can't possibly know all … (0 comments)
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Don't Believe Every Rate You See! - 07/13/07 10:44 AM
Don't Believe Every Rate You See!If you're a savvy consumer, I'm sure you've seen many nationally-branded companies advertising ridiculously low rates. (For example: Ditech, Quicken, etc) Despite the fact that rates have hovered near extraordinary lows for an extended period of time, many of the largest national lenders routinely tout rates that simply seem "too good to be true." In fact, they are exactly that, at least for the overwhelming majority of borrowers. Certain nationally advertised companies also promote incredibly low closing-cost fees. Don't get sucked in, though, and don't believe the hype... these advertisements are, in fact, not credible at … (9 comments)
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Your Real Estate Bill of Rights - 07/09/07 11:39 AM
Dear Prospective Home Buyer,Your Real Estate Bill of Rights
You deserve attention to detail and specific solutions to your specific needsYou deserve access to the most accurate information regarding your status at any given momentYou deserve impeccable customer serviceYou deserve to be treated fairly and with respect at all timesYou deserve the best possible attention and all your wants and needs exceededYou deserve professional consulting to accomplish your short term and long term objectivesYou deserve flexible optionsYou deserve all the information necessary to make wise decisionsYou deserve truthful and accurate information regarding your real estate options, fees, rates and the effects of … (4 comments)
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The 9 Things You Must Know Before You Buy - 07/09/07 11:30 AM
The 9 things you must know before you buyBefore putting all you money into mortgage payments, pleaseconsider the following 9 important issues. By consideringthese important financial issues, you will be able to makeyour payments work much harder for you.1. Get pre-approved BEFORE you look for your new homeOf all the steps to do before you buy a home, thepre-approval part is the easiest. One of it's benefits: Itwill give you complete peace-of-mind while you are lookingfor a home. The best part, it's usually free. Your locallending institution can give you a written pre-approval withno obligation on your part. Getting pre-approved means … (4 comments)
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The 10 Biggest Mistakes When Refinancing - 07/09/07 11:17 AM
The 10 biggest mistakes when refinancing1. The new interest rate does not justify the refinancingBefore you go ahead and refinance your mortgage, you have to make sure that the change will save enough to justify the whole process of refinancing. As a rule, if the interest rate does not decrease by at least .0075 (.75 %) to .01 (1%) then refinancing is probably not a good move.2. Not knowing your real closing costsClosing your mortgage is usually a charged service. By law (in the United States), closing costs must be disclosed within 3 working days of the loan application. Each lender … (5 comments)
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10 House Buyer Traps and How to Avoid Them - 07/09/07 11:05 AM
10 House buyer traps and how to avoid them
Trusting tax assessmentsSome people think that tax assessments are a way ofevaluating a home. The difficulty here is that assessmentsare based on a number of criteria that may not be related toproperty values, so they may not necessarily reflect thehome's true value. Bidding without knowingWhat price should you offer when you bid on a house? Is theseller's asking price too high? Are in front of a real deal?Before making one the biggest purchases of a lifetime, youshould take a very close look at the real estate market inthe area you're a thinking of … (2 comments)
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Purchasing a Home and Your Credit - 07/09/07 10:32 AM
Purchasing a Home and Your CreditIn a nutshell, credit scoring is a statistical method of assessing the credit risk of a loan applicant that is used by most mortgage companies in helping to determine what loan program an applicant qualifies for. The score is a number that rates the likelihood an individual will pay back a loan. The score looks at the following items: past delinquencies, derogatory payment behavior, current debt level, length of credit history, types of credit, as well as the number of recent inquiries into your credit.The three general categories of credit scoring:
First, a borrower with a score … (2 comments)
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New Home Buying Rebate Program - 07/02/07 10:47 AM
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Justin Kaatz, CMP
Madison,
WI
More about me…
ASAP Mortgage
Address: 1250 Femrite Dr, Suite 105, Madison, WI, 53716
Office Phone: (608) 237-8900 x 14
Cell Phone: (608) 347-3424
Email Me
Hello everybody my name is Justin and I'm a Licensed Mortgage Professional serving the whole state of WI. I am looking to pick up some useful information and possibly establish a few relationships through this website and blog!
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