florida mortgage: May Updates for TheMortgageGoToGuy.com
- 05/23/08 06:17 AM
I got a little busy this month...writing a little more than I expected so I will post a few more updates in the next couple of weeks but for now this is the update for the Month of May on The Mortgage Go To Guy.com ... keep checking the site www.themortgagegotoguy.com for changes as it is going through a major overhaul! Archive for May, 2008 Foreign National Investors need their own Real Estate Agents Foreign Nationals interested in taking advantage of the weak dollar are finding great values in Florida Real Estate. In this buyer’s market it is important that all … (0 comments)
florida mortgage: Florida Mortgage | Foreign National Homebuyers - Visa Waiver Program
- 07/20/07 03:07 AM
Lenders require Foreign National Borrowers to provide a copy of a valid passport and current Visitor Visa as part of their documentation requirements. The Visa Waiver Program is available to residents of certain countries to come to the United States and stay for a period of no longer than 90 days without obtaining a visa. These Foreign Nationals can come for either Tourism or Business reasons... Business or Pleasure. In order for a Foreign National that qualifies for the Visa Waiver Program to obtain a Mortgage on a Second Home or Investment Real Estate, the Foreign National Borrower will need to obtain a … (7 comments)
florida mortgage: Florida Mortgage | Foreign National Homebuyers - "Dollar weakens on Subprime Woes" is good news for you!
- 07/10/07 11:53 AM
Today my Google Alerts popped up with a story from DowJones' MarketWatch. Euro at high vs. dollar amid subprime worries This is great news for Foreign National Buyers in the US. "The euro was up 0.7% at $1.3717. The dollar was down 0.9% against the yen at 122.12 yen. The British pound was up 0.5% at $2.0255." As the US Dollar continues on its weakening trend, Foreign Investors and Foreign Nationals looking to buy investment and/or vacation homes in Florida will continue to benefit from: Low Interest RatesHigh InventoryLow Property PricesCancelled Contracts on New ConstructionForeign Nationals will also be able to experience some Return on Equity - … (18 comments)
florida mortgage: Palm Beach County Florida | Local Info Magazines help enjoy South Florida life
- 07/06/07 05:21 AM
Finding things to do and places to eat in Palm Beach County Florida just got a little easier with the debut of the new foodie magazine Florida Table. Florida Table is published by the same company that publishes Boca Raton Magazine, Worth Avenue (West Palm Beach Florida), and Mizner's Dream (official in-room magazine of Boca Raton Resort and Club). These magazines are great sources of information on the leisure lifestyle that Palm Beach County Florida has to offer. In them you'll find information on where to eat, real estate, local events, shopping, hotels, spas, people and other local interest pieces. Whether you are a … (3 comments)
florida mortgage: Florida Mortgage Loan | Pre-Approval vs Pre-Qualification
- 07/05/07 03:49 AM
When buying a home, it is very important to be Pre-Approved for your mortgage in advance. The reasons for this vary from calculating affordability to presenting a stronger contract. The issue is that the definition of this Pre-Approval varies depending on the context in which it is used. This guide should help you understand what Sellers are asking for when they advertised "Pre-Approved Buyers Only". The phrase "Pre-Approved" brings up a question of semantics. The best way to further this discussion is to define the terms Pre-Qualification and Pre-Approval. Pre-Qualification is a process whereby the buyer's income, credit and assets are analyzed. It … (5 comments)
florida mortgage: Florida Mortgage | Foreign National Homebuyers: Seasoning Funds in US Banks
- 06/27/07 02:37 PM
Foreign National Homebuyers typically purchase properties both Second Homes and Investment Properties in Vacation and Resort areas. With the Florida real estate market being on a downswing but still chock full of new development, Foreign Nationals are finding now to be a great time to purchase their vacation homes in Florida. The weak dollar versus the Euro and British Pound makes this a great time for Europeans! During the purchase transaction, most lenders require funds equivalent to closing costs plus six (6) to twelve (12) months of PITI (Principle Interest Taxes and Insurance) payments to be placed in a US bank account. The lender … (11 comments)
florida mortgage: Florida Property Tax Update: A Chronology of the Continuing Saga
- 06/12/07 10:39 AM
In an effort to further organize the saga of the Florida Property Tax Reforms, I thought I would take a minute to put out the chronology of news as reported in my posts... 06/10/2007 Florida Property Tax Update: Investor and Commercial Worries 06/10/2007 Florida Property Tax Update: Getting Closer but still underwhelmed 06/05/2007 Florida Property Tax Update - AN EARLY VOTE!! 05/21/2007 Florida Property Tax Update - UGH! The Media is messing it up again! 05/11/2007 Florida Property Tax Update - The Compromise is Near!! 04/21/2007 Florida Property Tax Update - How the Retiree Community may get helped and hurt 04/20/2007 Florida Property Tax Update - HOUSE BILL … (1 comments)
florida mortgage: Mortgage Advice: What's worse than Foreclosure?
- 06/11/07 10:13 AM
What could be worse than foreclosure?? Foreclosure due to being UNDERINSURED. Many homeowners slide by on their homeowners insurance policy figuring that when the worst happens, they will get paid. The sad truth is that many homeowners will actually come up short on coverage if their house is totally wiped out. When the homeowners policy does not cover the dwelling and the borrower does not have the money to make up the difference, the lender can and will call the note due to lack of repair. To learn more, follow this link>> More Florida Mortgage and Real Estate News You Can Use FromDavid A. … (10 comments)
florida mortgage: Florida Property Tax Update: Investor and Commercial Worries
- 06/11/07 08:26 AM
The release of the newest version of the proposed Florida Property Tax Reform should worry a large portion of property owners in the State. While Florida House Speaker Mark Rubio and Governor Charlie Crist have done a reasonable job accommodating homestead property owners, i.e. full time residents, especially those with property values under $500,000, I feel that there was a failure in this newest revision of the property tax reform to adequately address the issues facing investors and commercial property owners. Many feel that these people don't need as much attention but I think that the ripple effect of not helping with their … (2 comments)
florida mortgage: Florida Property Tax Update: Getting Closer but still underwhelmed
- 06/10/07 09:21 AM
So Florida Lawmakers took a moment to announce they've come closer to finalizing the Property Tax Reforms that have been the subject of special legislative sessions that seem positively never-ending to residents in the state. The local media has been buzzing with anticipation of the final announcement of where the taxes will roll back - but based on the latest numbers, I am personally quite underwhelmed. There were issues that went untouched entirely and property owner classes who really are only getting token reductions while the "target property owner class" really didn't get that big a boost by the numbers. For more, including the breakdowns … (3 comments)
florida mortgage: Florida Property Tax Update - AN EARLY VOTE!!
- 06/05/07 03:55 AM
My earlier post Florida Property Tax Update - The Compromise is Near!! details what seems to be the final answer to the Florida Property Tax Reform issue that is currently the main topic of the Florida State House and Senate special session. Florida House Speaker Marco Rubio, R-Miami, pushed forward a plan that will create a percentage system that will reward property owners with much larger exemptions based on the type of ownerships: HomesteadNon Homestead ResidentialInvestmentCommercialetcThe only issue to resolve at this point is what the specific percentages will be for each category of ownership. The good news out yesterday was that due to … (3 comments)
florida mortgage: Florida Mortgage | Foreign National Homebuyers: How to get your Loan Started!
- 05/28/07 09:24 AM
Florida is a HOT market for Foreign National's to purchase both Second Homes and Investment Properties. A Foreign National Loan is a very simple process if you have your documentation in place. Here is a great checklist to use when you want to get the ball rolling on that process. Documents needed for a Foreign National Loan Program: Personal Reference Letters from Country of Origin. Bank Statements from a US Based Bank. Information for Employment Verification Copy of Valid Visa Copy of Passport All letters must be translated into English by a certified translator. For more information about Foreign National Loans and how to … (10 comments)
In a well publicized relocation, the USTA has moved its USTA Player Development Program from its headquarters in Key Biscayne, Florida further North to Boca Raton. The move was strategic as the USTA joins forces with Women's tennis legend Chris Evert at her Evert Tennis Academy, a highly-acclaimed tennis training facility in West Boca Raton. The USTA Player Development Program is expanding on the site of the Evert Tennis Center with the addition of a three story multi-use building housing a state of … (5 comments)
Wow... the Sun Sentinel has finally caught wind of the Europeans that are buying en masse in South and Central Florida these days! The article speaks of why Western and Northern Europeans are growing fonder of the area for both the lifestyle and climate. They printed this map showing that most of the European Buyers are from the UK. There are also many from Denmark and Holland. Right now, Mortgages for Foreign Nationals are at an all time high. It is easier now than it has been in years to get financing at attractive rates. That was actually a point missed by the journalists. Loan Programs … (24 comments)
florida mortgage: Mortgages and Aging... An Epic struggle: Part 5, If you've got it... Plan it!
- 04/10/07 01:17 PM
This is an OBVIOUS post but it is part of the series... So, you're out there networking and you see a dozen Realtors, ten Mortgage brokers, fifteen rabid title company reps... and one, count 'em ONE, Financial Advisor... and a green one at that! What's this telling us? It is harder and harder to find a Financial Planner to work with on our referral lists! So, you've gotten a refi for your 73 year old Grandma... what to do? what to do? Well... PLAN THAT MONEY! Don't let it sit there. It HAS to be put away. It has to CREATE something! So what am I talking … (3 comments)
florida mortgage: Mortgages and Aging... An Epic struggle: Part 4, The Cash in the Mattress vs The Cash in the Walls
- 04/06/07 04:58 AM
What is David Talking About NOW?!? Wow... the comments I've received and emails I've gotten regarding these posts have been very interesting. So now I have to deal with the dilemma facing taking the next step. I remember years ago when someone close to me passed away, there was a man who had lived a very modest and frugal life. Out of the blue his family found out he had a safety deposit box! He had a HUGE sum of money (for someone who lived his way) stashed away... likely from customers that paid him in cash. This was a great find for his … (3 comments)
florida mortgage: Mortgages and Aging... An Epic struggle: Part 3, Flow Flow Flow the Cash
- 03/27/07 07:37 AM
This section is fairly self explanatory and deals with what Lenders want... The main problem lenders have with seniors is the lack of income to repay the loan. A lot of times there are not many options to help them get a new income stream. The worst is when their pensions are drying up and Social Security isn't really helping that much. So how do we alleviate this pain? That's tough... I actually hope to get some ideas from my reading audience.... The biggest thing for this situation is preparation. Financial Advisors espouse the idea that they need to get to you as early as … (1 comments)
florida mortgage: Mortgages and Aging... An Epic struggle: Part 2, For HELOC's Sake!
- 03/25/07 04:17 AM
No... I'm not a Snake Oil Salesperson when I tell you that a HELOC, Home Equity Line of Credit, is a miracle drug. It can do 1,001 wonderful things including: Fix your roofPave your drivewayGet you emergency cashHelp keep you safe from any other emergencyGet rid of some nasty debts with high interest ratesetcLadies and Gentlemen, I feel confident in saying EVERY HOME OWNER NEEDS A HELOC!!! Ok... I won't point fingers but I can already hear the grinding of teeth and steam blowing from some of the skeptical Realtors' ears while I'm reading this. I feel fairly certain that as I am typing this, some of … (3 comments)
florida mortgage: Mortgages and Aging... An Epic struggle: Part 1, Credit Issues for Seniors
- 03/23/07 04:04 PM
Credit Scores are fickle things. The real way to think of them is that they are a quantitative measure of how you are able to manage your debts. With that in mind, many seniors are having big issues with credit scores because many of them HAVE NO DEBT. How is this possible?? For years and years, people scrimped and saved for retirement so that they would have the money they need to live a certain lifestyle for a certain amount of time. This includes basically having pensions, annuities, retirement plans, Social Security and other passive incomes that are supposed to cover all … (8 comments)
florida mortgage: Mortgages and Aging... An Epic struggle: Introduction
- 03/23/07 07:31 AM
Wayne Pruner's blog this morning uncovered an ugly truth in credit and real estate. Our 55+ community in this country is poorly educated and led even more improperly in their mortgage and real estate lives. Many of them survive well past their planning and run out of money causing hardship on friends and family. They don't get to live their golden years living the life that they are accustomed to nor in the manner which they deserve. I really believe this topic needs more coverage... especially here in Florida where the retirement population is so large. It is estimated that there are … (2 comments)
Boynton Beach Florida | Boca Raton Florida | Commercial, Residential, Investment Mortgage Loans | Foreign National | Refinance | Serving Palm Beach, Broward, and Miami-Dade Counties in Florida Blog by The Mortgage Go To Guy
I got a little busy this month...writing a little more than I expected so I will post a few more updates in the next couple of weeks but for now this is the update for the Month of May on The Mortgage Go To Guy.com ... keep checking the site www.themortgagegotoguy.com for changes as it is going through a major overhaul! Archive for May, 2008 Foreign National Investors need their own Real Estate Agents
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