how much of your income goes to your mortgage ? - 06/18/07 11:46 AM
 
What percent of your income goes to housing expense? A record 37.3 million households, or one in three, were
paying 30% of their income toward housing in 2005, according to The State of the Nation's Housing 2007. The
study said the number of households with that cost burden had risen roughly 20% since 2001 when rates started
to slide helping appreciation and lowering payments
… (0 comments)

first time home buyer in squeeze - 06/14/07 11:37 AM
 
According to the National Association of Home Builders (remember the source!), mortgage lenders have
tightened credit guidelines so much they're squeezing about 500,000 first-time buyers out of the market. A
decline of that magnitude would reduce sales of new homes by 4% and sales of existing homes by 7 percent.
According to the association, about 2.5 million people will buy homes for the first time this year, down from 3
million in 2005.
… (0 comments)

1031 company went bk. - 06/13/07 12:17 PM
 
As you are undoubtedly aware, the 1031 qualified intermediary business has received a great deal of press over
the past few weeks, as a well known QI in San Jose filed for bankruptcy last month (on the heels of a Las
Vegas-based QI folding earlier this year).  I have received numerous inquiries from Realtors, investors, escrow
officers and others about this situation and about IPX1031's security of client exchange funds.
While investment property sellers must use a qualified intermediary in 1031 transactions, the qualified
intermediary industry is not regulated.  How the QI decides to protect the clients' money during the transaction is … (2 comments)

banker vs. mortgage broker - 06/08/07 12:53 PM
 
What are the differences between being a mortgage banker versus a mortgage broker? As a banker, you can
control your own underwriting and closing process, create your own product set and guidelines, sell directly to
Wall Street or conduits, set your own rates and manage your own rate lock policies, and sometimes see better
price execution by hedging your own pipeline or benefit from volume incentives. But this year many smaller firms
have been forced to reconsider the costs & risks of the decision to move from broker to banker. Why?
 
A lender may have lost money due to credit risk: the … (0 comments)

 

raman kandola

San Jose, CA

More about me…

kandola mortgage services

Address: 2166 the alameda, san jose, ca, 95126

Office Phone: (408) 561-7295

Cell Phone: (408) 561-9967

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