the real estate investment institute: Congress in there wisdom - 08/20/08 06:45 PM
Congress in there wisdom has seen fit to bring an end to DPA
, Down Payment Assistance as we know and hate it. For certain there must be a better way to put people into homes with little or no money than the current program of Non-profit fiascos.
Please consider … (2 comments)
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the real estate investment institute: Allowed, Allowable, Not-Allowed, Ambiguity, To Thine Own Self Be True - 08/19/08 06:05 PM
Allowed: Following the letter of a law or regulation. The safest of mistakes for the uneducated and/or timid.
Allowable: Stretching the law or regulations, based on known case law and common practice. Most often a better approach, but requires an extensive knowledge of the subject.
Not-Allowed: Breaking the law or regulation. … (2 comments)
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the real estate investment institute: Are Old Words Old Fashion? - 08/15/08 01:42 PM
I keep telling people that I'm not that old,just delapidate. But, lately I've begun to question my age. It's not a health thing, in fact I've been feeling pretty good, all things considered. My problem is not my age, chronologically or physically, my problem is my vocabulary! Most of our words … (25 comments)
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the real estate investment institute: HELOC Insecurity - 08/06/08 10:23 AM
Checking the Drudge Report http://www.drudgereport.com/ this morning I came across an article on Morgan Stanley freezing thousands of Home Equity Lines Of Credit, HELOC's. http://www.bloomberg.com/apps/news?pid=20601087&sid=afQ0PVYvOgzI&refer=home
Home owners still owe the outstanding balance, but they will no longer be able to use the open ended feature to draw more useable cash from … (5 comments)
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the real estate investment institute: Equity Is Optional / Liquidity Is Mandatory - 08/04/08 02:15 PM
Real Estate 102
I'm appalled at the sorry state of many real estate agents, and I use the term "agent" very loosely. Maybe the time has come to install taxi type meters in agents cars and bill by the hour and mile. $5.00 for dropping the flag (letting the buyers … (10 comments)
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the real estate investment institute: Misidentification / Have Nots / Undeserving - 08/02/08 02:41 PM
Our on going national disgrace, disgraces (?) Disgraci, what ever, has us turning on each other. After nearly thirty years of hate mongering by politicians perhaps it's to be excepted that we can no longer identify with our fellow man. What bothers me is that other wise good people, good real … (24 comments)
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the real estate investment institute: Where Have All The People Gone? - 07/24/08 03:42 PM
Where have all the home owners gone?
Long time passing.
Where have all the people gone?
Long time passing.
Defaulted and disappeared every one.
When will they ever learn?
When will they ever learn?
Where have all the home owners gone?
Where have all the people gone?
Where? Where? Where? Where?
… (8 comments)
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the real estate investment institute: Platitudes - 07/16/08 03:15 PM
"I Know What You Think You Heard, But That's Not What I said"
"People remember what they heard last"
"Never answer an objection until the buyer has repeated it three times."
"People remember best what they hear the most"
"Ask a leading question then SHUT-UP! ... The person that speaks next … (17 comments)
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the real estate investment institute: Passing the Buck / It's the LO's Fault / A Convenient Misunderstanding - 07/14/08 10:32 AM
So many people want to pass the buck,to blame anyone but themself for the mortgage crisis. The most maligned being the individual Loan Originator, LO. The LO's are an easy target because some of them are guilty with regard to their clients, but the same can be said about any and … (16 comments)
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the real estate investment institute: To Blog or not to blog? Two Years Later - 07/13/08 02:43 PM
(This is an edited version of my article from 10-2006)
To Blog or not to blog?
To respond to blogs or not respond?
That is the question.
Whether it is better to suffer the slings and arrows of outrageous... Exposure (?)
Over the last two years I have become an … (10 comments)
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the real estate investment institute: Creditably / Vulgarity / Facttoids / Exaggerations / Hate - 07/12/08 04:44 PM
Creditably, Vulgarity, Facttoids, Exaggerations, and Hate are incomparable! At a time when hate has replaced common sense, so many respond in kind, with vulgar, made-up lies, exaggerations, and pure unadulterate hate. We except this from many, but we must refrain from answering in kind!
Even when addressing a receptive audience you … (9 comments)
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the real estate investment institute: IndyMac / Money Merge / Broke Fools - 07/12/08 12:34 AM
IndyMac was taken over by the FDIC! Accounts frozen, advances stopped(?), HELOCs frozen?
It's happened before, but not on such a scale. Just how are the gullible schemers and dreamers going to feel about their "money merge" accounts, now?
If ever there was proof that "figures don't lie, but liars figurer" … (25 comments)
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the real estate investment institute: REALTORS Excoriated In Atlanta - 07/10/08 07:28 PM
Ignoring property rights.
Ignoring property owners.
Ignoring contract law.
Ignoring REALTORS Civil rights.
Ignoring common sense.
"City inspectors have begun ticketing Atlanta real estate agents, holding them liable for code violations on run-down, often foreclosed properties..." says the Atlanta Journal-Constitution!
What next? Are REALTORS to be held libel for … (16 comments)
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the real estate investment institute: Competence Is Not An Unfair Advantage / Incompetence Is A Sin - 07/09/08 04:28 PM
I've been looking long distance for a house, for the last few weeks. The overwhelming incompetence of the listing agents I spoken with has reached an unbelievable low. I've talked to at lease five listing agents that have never seen their listing! Agents that have no idea of the neighborhood, or … (6 comments)
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the real estate investment institute: Cocky Arrogant Salespeople Ranting - 06/30/08 12:30 PM
A very respected acquaintance recently posted a ranting/raving blog that I disagreed with. The subject is irrelevant, a matter of social intercourse with no absolute right or wrong. My opinion, the right one, the minority opinion was opposed by the majority opinion, the not really wrong one, by 593 to 1. … (26 comments)
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the real estate investment institute: Divorce / Real Estate / Money - 06/28/08 05:41 PM
D-I-V-I-C-O-R-C-E, Tammy Wynette sang out years ago, spelling to keep a 4 year old from understanding! Just like the attorneys and the judge mislead the divorcing couples (?), ex's (?), losers (!).
Tammy misspelled it! It should have been B-E-T-R-A-Y-A-L, B-E-T-R-A-Y-A-L, B-E-T-R-A-Y-A-L, or betrayal to the third power! Betrayal by your … (10 comments)
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the real estate investment institute: Marriage, Real Estate, Money - 06/26/08 12:25 PM
This is not about "Gay Marriage" trigger by it, but about Marriage, Real Estate, and Money. Regardless of how we feel about marriage, in any marriage there are some simple credit and real estate matters that everyone considering marriage should think about.
1. Credit! In community property states your spouse, regardless … (8 comments)
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the real estate investment institute: The Difference Between Experts & Professionals - 06/14/08 01:53 PM
Are you a real estate "Expert" or a "Professional?"
I write in Correl Word Perfect so I started by looking up the two titles in it's dictionary.
"professional > ... a person having impressive competence in a particular activity."
You'll notice "..." I left out the parts about "being part … (8 comments)
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the real estate investment institute: Qualifying / Back To The Not So Basic - 06/04/08 10:55 AM
After so many years of qualifying mortgage clients by the same rules our fathers, or Grandfathers played horseshoes, many loan originators have never had to actually meet strict numbers!
Well times have changed, close no longer works! You've got to throw ringers or lose. Those pesky Debt to Income and Housing … (1 comments)
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the real estate investment institute: And The Stupidity Goes On / Naked Home Buyers - 05/31/08 01:16 PM
Stupidity = "lacking intelligence or common sense!" So says my Correl Word Perfect 12's dictionary.
At a time when it's become PC, Politically Correct for people to abandon perfectly good homes, even with good loans, because they are "up-side down," with their mortgage exceeding the current value of their home. Builders … (11 comments)
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the real estate investment institute: Hypothecation / Basic Money 301 - 05/27/08 06:49 PM
Over and over again the TV commercials ask: "Do you have a structured settlement? Do you have a an annuity? Do you have a land contract? Do you have a contract for deed? Do you have an incoming private note?" We'll give you the cash you need!
Ya, right! No one … (8 comments)
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the real estate investment institute: Creating Equity From Nothing / Revisited - 05/21/08 11:32 PM
Short sales, so many agents have discovered short sales, as if they were just invented. Many others are reluctant to get involved. More still assume they are some sort of entitlement, a right.
They're wrong! Short Sales are a tool, an old Tool! Only the name is new to ease the … (2 comments)
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the real estate investment institute: A Serious Question - 05/16/08 11:09 PM
A new friend writes: "How many people walked away from the homes in which they only had $500, $2,500, or $5,000 as down payment? But that's all they lost. And how many people lost their $40K, $60K and $100K?"
My reply deserves it's own post.
It's not the amount of … (10 comments)
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the real estate investment institute: Deliberate Deception By Government Fiat / What They Don't Tell You - 05/16/08 07:18 PM
I read a recent well intentioned blog advising that you should not select a lender or loan based on the rate! That's great advice! Rate in itself is only one side of a coin! The other side of the coin is cost! Origination and discount cost!
Loan costs come in two … (7 comments)
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the real estate investment institute: Comedy / Tragedy It's Not Just Classic Theater - 05/14/08 01:27 PM
It is said that life imitates art and that art imitates life.
It is certainly true in our current real estate crisis.
We are experiencing real tragedy, ironic tragedy,
being upside down on a mortgage, the loss of value in some homes.
We have comedy, in the form of … (10 comments)
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the real estate investment institute: Are You Knocked-up, Yet? - 05/07/08 05:44 PM
Strange question, in this foram. Isn't it? But, that's what happens when you don't know what you're doing and promiscuously fool around anyway!
"Don't lecture us! It's our right! We're entitle It's our right! We're entitled! We're entitled! We're entitled! It's our right!"
You're right! It's your right!
Don't … (9 comments)
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the real estate investment institute: The Mortgage Consumer Protection Act / My Solution - 04/15/08 01:37 PM
In order to protect the consumer in mortgage origination the following changes shall be made:
1. The states shall licence all mortgage brokers and their agents. Standards shall be set by the individual states, but records shall be maintained so that the public may be made aware of individual complaints. Agents fired … (11 comments)
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the real estate investment institute: You Want To Buy A Bargain / Talking To A REALTOR® - 04/12/08 03:39 PM
You want to buy a bargain! You know all about the real estate crises, you watch the TV news.
Maybe you even took a ride on the "Foreclosure Express" bus where the REALTOR® on the loud speaker pointed out a nice looking house with brown grass, and told you, "it sold … (10 comments)
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the real estate investment institute: Real Estate Markets Retail and Wholesale Or Yesterday Today and Tomorrow - 03/30/08 02:49 AM
Bryan Tutus writes about Trying to sell retail listings in a wholesale market!!! About home owners competing with REO's, real estate owned by banks. My question is are there really two markets?
When lower price listings are marketed to the public, are they not truly being retailed? If they were offered to … (10 comments)
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the real estate investment institute: Who's Side Is The Fed On? - 03/19/08 04:20 PM
1% off the discount in the last week sounds great! But, does it offset the extortion of the equity of the stock holders of Bear Stearns? Not long ago Bear Stearns stock was selling over $100.00 two years ago over $170.00 so how does it drop to $2.00 overnight?
Most people would … (10 comments)
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the real estate investment institute: Savings Money / Free Money / Peace of Mind - 03/10/08 02:21 PM
Back in September 2006 I wrote Wake Up And Smell The Smoke About over sleeping, a cat, Brenda, lunch, McDonald's, a siren, a fire truck, several yard sales, smoke, a friend, a student's investment houses, a fire, and under-insurance. Today things have changed, a lot!
Today you're a lot more likely … (4 comments)
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the real estate investment institute: Beat The Sharks / Pod-Cast - 03/08/08 04:05 PM
A friend came across a title of mine that should have lead to an earlier attempt at pod-casting,it didn't. So he ask about it. It's considerably more important today than it was when I wrote it in 2006.
Here is the link: http://realestatesage.info/2008/03/08/httpwwwflippingforfunandprofitinfo.aspx
"Beat The Sharks" is simply the most unique opportunity … (2 comments)
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the real estate investment institute: My Experiment In Pod-Casting. - 03/06/08 05:57 PM
My experiment in Pod-casting. I've been playing with Pod-casting for several months now and I think I've got it working. I've been recording and editing with a share ware program called "Aduacity" and publishing to my "Go-Daddy" "blogcast" account http://www.realestatesage.info I'd like feed back on how it comes across
Here is the link: … (50 comments)
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the real estate investment institute: 5, 10, 15, 20, 25, 30, 35, 40, 45, 50, Three Score And Seven - 02/22/08 11:32 AM
How long? How long should you finance your home for?Should you worry about amortizing (systemically paying off the principal) your mortgage?
A few days ago my friend Rich Kruse commenting onHow Much Should I Put Down / Equity Is No Protection / Liquidly Is Wrote: "I'd like to hear a post about … (4 comments)
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the real estate investment institute: But I Don't Have A Down Payment - 02/20/08 06:22 PM
If you were sitting across from me and said "I don't have a down payment," I'd have flippantly said "So What! What kind of a house do you need?" Thanks to the TV Real Estate Gurus, we all know everyone can buy with "no down payment!"
What those TV pitchmen say is … (16 comments)
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the real estate investment institute: How Much Should I Put Down / Equity Is No Protection / Liquidly Is - 02/17/08 11:39 PM
I recently tried to displace the myth that real estate and mortgage professionals could determine what you can afford. See: How Much Can I Afford / A Stupid Question, for most of you what you can afford is going to be less, sometimes considerably less than you can qualify for.
Now that … (18 comments)
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the real estate investment institute: How Much Can I Afford / A Stupid Question - 02/16/08 10:33 AM
You've reached that point in your life, somewhere between 18 and death, that you want a home of your own. You locate a REALTOR® or better yet a Loan Originator and make your first mistake. You ask "how much can I afford?"
This is possibly the second most asked question in real … (38 comments)
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the real estate investment institute: How Much Can You Save / A Short Sale Primer - 02/09/08 04:48 PM
I just read Lenn Hardly's blog: WHAT ARE THE BUZZ WORDS? TRANSPARENCY? CONSUMER'S RIGHT TO KNOW? NONSENSE!
People have a major misunderstanding of what they can except purchasing a short sale. Just what sort of discount will a bank to accept?
If you're hoping for a number, you can stop reading. If you … (8 comments)
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the real estate investment institute: Explaining Pre-Paid Interest - 01/30/08 09:38 PM
I read the musings of a brilliant, but young mortgage man that was having trouble explaining pre-paid interest, which is line 901 on the Good Faith Estimate and HUD-1, closing statement. I discuss this in my book "Get The Money / A Consumers Guide To A Successful Mortgage Application" but let … (2 comments)
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the real estate investment institute: False Security / False Hope - 01/30/08 11:47 AM
I've written about the danger of depending upon Home Equity Lines Of Credit, HELOC's, before. I was concerned about depending upon your HELOC for access to cash when making an offer, I'd suggested that even though you have the HELOC available you always make your offers contingent upon the loan, to … (9 comments)
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the real estate investment institute: Shut- Up And Start Making Money / Every One Is A Salesman - 01/30/08 01:13 AM
Everyone is a salesman, some are just better than others. I write about real estate investment, but salesmanship is a lesson in life! The only reason most people make, for not investing in real estate, is they don't think they can make the sales necessary to buy and then sell an … (6 comments)
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the real estate investment institute: A Consumers Guide To Mortgage Brokers And The Evil Yield Spread Premium - 01/30/08 01:00 AM
Kick backs, hidden cost, back points, HUD (Housing and Urban Development) calls it "Yield Spread Premium" (YSP), money paid by the a lender to mortgage brokers outside of closing. Money paid by the lender to the broker because you got a higher mortgage interest rate. Mortgage brokers are suppose to show … (3 comments)
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the real estate investment institute: Standing Before The Bar / Why I Hate Applying For A Loan / Nothing Has Changed - 01/30/08 12:46 AM
I was 21 and out of the Marines just ten days when I went to work for a small loan company, a week later I was making loan decisions affecting peoples lives. Just two weeks more and I was in the field making collection decisions that could literally destroy peoples lives. … (7 comments)
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the real estate investment institute: Do Favorite Words Influence Your Life - 01/25/08 12:14 PM
Do you have a favorite word? Do favorite words influence your life or does your life influence your favorite words?
A favorite word, color, flower, song it all sounds sort of juvenile if not down right childish! Doesn't it?
Have you ever considered why kids have these favorites? I've concluded that child and … (16 comments)
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the real estate investment institute: A Simple Idea - 01/24/08 09:47 PM
I have an idea to help upside down/negative equity home owners.
Congress could have Fannie Mea, Freddie Mac, and Genie Mae to refinance existing loans to 80% of the current value, while subordinating the remaining balance to second position, and recasting it over the remaining term. This could also be extended to … (20 comments)
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the real estate investment institute: Do I Open Your E-mails? - 01/23/08 04:22 PM
Do you use e-mail?
Do your e-mails get opened?
Do your readers take you seriously?
Do you want to be though of as a professional?
Do you look bad even before your mail is opened?
Do you want to be taken seriously?
Do you do business using a free mail service?
Do you have an investable … (2 comments)
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the real estate investment institute: I Too Have A Dream - 01/21/08 03:42 PM
Today as we pause in the middle of political debauchery to honor the memory of Martin Luther King, I too dream of equal opportunity, equal housing opportunity! Equal access to security through real estate ownership!
Dr. King talked of people being "stripped of their selfhood and robbed of their dignity by … (4 comments)
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the real estate investment institute: Books I've Read, Reread, and Read Again - 01/10/08 05:59 PM
I was "meme" Bill Roberts got me. Bill Nazur got him. They wanted to know what I read. This is a big step ahead the last time I was "memeed "Memed, Me Memed / For The Masochistic Reader I started with Geneses and ended with my birth, a long time ago. … (8 comments)
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the real estate investment institute: My Second Annual Blog Index 2007 - 12/31/07 02:23 PM
I've posted 95 blogs here on Active Raine in 2007, most of them on Professionalism, many on the mortgage Crisis, much on pure Real Estate concepts, some Frivolous, and a few very Personal.
Today's message is a simple one:
Happy New Year! May personal and professional success fill your new year.
All my … (4 comments)
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the real estate investment institute: Advice From The Sunday Real Estate Section - 11/19/07 01:53 AM
Steven Leitman, wrote a short little blog: Short Sale Tip I commented on it because, I'm concerned about real estate advice coming newspapers. One of the comments was addressed directly to me, here is my response.
Mr. Ross,
I'd like to answer your question, but I don't think we have a common language. … (4 comments)
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the real estate investment institute: A Call I Wish I Hadn't Made - 10/23/07 04:35 PM
I got a letter though AR. A listing agent wanted an investor, was I or any of my people interested in this listing? A single family house in a distance state, appraised at $785,000.00, listed at $725,000.00, but only for home buyers, investors could buy it for $660,000.00! (I should have … (9 comments)
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the real estate investment institute: Dad's Shop - 10/22/07 02:49 PM
I was born in Central Michigan. Son and Grandson of men that fixed it themselves. I don't remember a time when if something need fixed or built Dad didn't do it himself. I remember when I was very young pestering Dad as he worked on a car in the drive way.
… (7 comments)
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the real estate investment institute: Least we forget, possession is a negotiable item! - 10/15/07 02:43 PM
When I came west from Michigan twenty three years ago, I was shocked to learn that possession in Nevada and perhaps most of the West is excepted to pass on the day of closing. In my experience I knew closings get held up and sometimes blow-up! I found the idea both … (0 comments)
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the real estate investment institute: Bunk, BUnk, BUNk, BUNK - 10/10/07 11:16 PM
Bunk, BUnk, BUNk, BUNK
A comment on Where' the Bottom of the Burbank Real Estate Market ?
I don't believe you can apply the principles of technical analysis to home purchases! Nor do I believe you can apply them to small (1 to 4 unit) investment properties in a tough market.
No one likes … (5 comments)
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the real estate investment institute: Viva La Difference / Unjustified Assumptions - 10/02/07 10:10 PM
I wrote a blog about illegals and loan fraud and got a comment from a well intentioned writer that I just can't forget. I don't think the writer did anything but express the frustration we all feel, when we group people by heredity instead of their personal choices.
The comment: "It is amazing … (18 comments)
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the real estate investment institute: Be Careful When Speaking Lender - 08/25/07 04:54 PM
I just left one of my long winded comments on Brian Brady's blog Speak English or Go Home! You should read that about the English only question. I wanted to add a short story about one of my non-English speaking clients.
I had done almost two dozen loans for a family who's … (5 comments)
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the real estate investment institute: Why We're On AR / A Clueless Critic - 08/19/07 05:20 PM
I got taken to task by a fellow AR commenter. I commented on a non-real estate blog (How Much is a Billion? ) because I had an opinion on the subject, I respected the Blogger, I like her writing, and I'm here to be seen. Being seen is after all the … (18 comments)
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the real estate investment institute: Gorilla Purchasing / There Is Always More Than One Way - 08/17/07 04:14 AM
Survival of the fittest.
You've spent the last 15 years of your life learning and perfecting your real estate knowledge only to have your world come crashing down around you.
More than three score of mortgage lenders closed their doors.
Your local MLS has a nine month supply of listing.
No thinking buyer will pay … (5 comments)
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the real estate investment institute: Memed, Me Memed / For The Masochistic Reader - 08/16/07 06:13 PM
I've been memed! My friend Rich Kruse did it this morning. I though he knew better, after all I'm known for being brief and Active Rain only has so much band with.
O'well. I do list myself as the greatest living expert on the opinions of William J Archambault Jr, so … (4 comments)
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the real estate investment institute: I Dit It, I Did It! / Thanks Nathan Hartman - 08/15/07 02:40 PM
I was very empresses with Bryan Brady's pod casting Profitable Podcasting: My Equipment, but I didn't want to do phone interviews. I wanted to record some of my articles simply as an alternative presentation.
I simply wanted to be able to record and upload from my desk top or lap top computer. … (1 comments)
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the real estate investment institute: I Got Rained On Today - 08/14/07 12:17 AM
Yes I got rained on today not once but three times and it feels good!
The simplest to explain was a letter from a fellow rainer who I'd lost track of, I responded and he did too. Three simple and short letters, but two of us feeling better, a good start … (2 comments)
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the real estate investment institute: Leave it to Mother / Central Michigan - 07/30/07 07:41 AM
Leave it to my Mother to come up with innovative solutions. My parents spend their summers in Central Michigan, not far from where they grew up, or for that matter not far from where I went to grade school. North of Rosebush, and South of Clare on Stevenson Lake. They spend … (10 comments)
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the real estate investment institute: Humble Patriotism - 07/28/07 04:50 PM
On my way to breakfast Friday (7-27-07) I was asked by a mutual friend of ours how I felt about the concert Brenda and I attended Thursday night. My answered confused him. I responded humbled!
Well I've had nearly 30 hours to think about it and I still feel the same … (1 comments)
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the real estate investment institute: A New Voice / A New Source - 07/03/07 11:37 PM
Six weeks ago fellow Active Rainer and friend Jeff Belonger bloged: AOL Real Estate -- I have been interviewed, thanks to Active Rain..... About being interviewed thanks to his writing as seen on AR. Like everyone else I was thrilled for Jeff, even though they didn't get it quit right it's … (0 comments)
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the real estate investment institute: The Big Stick / Forgotten Wisdom - 06/30/07 02:59 PM
This is the first in what I hope to be a series on "Forgotten Wisdom,"
The Great Roosevelt once said "Walk softly and carry a big stick!" The other Roosevelt taught a dependance on big government. Today, with a perceived problem with sub-prime lending, many are calling for more and bigger government, … (5 comments)
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the real estate investment institute: Memorial Day - 05/27/07 07:23 PM
"I pledge allegiance to the Flag of the United States of America, and to the Republic for which it stands: one Nation under God, indivisible, With Liberty and Justice for all."
This is a day of remembrance, of all those who gave so much, to give us all we have. Those of us … (18 comments)
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the real estate investment institute: Stone Tablets / Bill's Rules For Loan Rep's - 05/24/07 05:55 PM
Have you ever wondered why we teach Religion to our very young?
I don't remember when I started Sunday School, it had to be sometime before four. Among all those wonderful stories there was always a Moral. Then came Mosses and the Ten Commandments. The only thing I could relate to was … (7 comments)
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the real estate investment institute: Arrogant Bigots - 05/16/07 06:53 PM
I started to answer a comment on one of my bloggs, and as so often happens when I'm commenting I got a little carried away. I posted the comment, but the more I looked at it the more I wanted everyone to see it, so after a short edit here it … (40 comments)
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the real estate investment institute: Deal Killers - 04/22/07 06:14 PM
What a narrow minded title!
I just read a blog with the terrible title of: The "Dealer Killer" Debate Continues it's basiclly an ad for a home inspector John McKenna and I proud to call your attention to it, because it also led me to a great blog of his:Deal Killer … (8 comments)
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the real estate investment institute: My Ambiguous Blogs - 04/13/07 02:09 AM
Back in mid 2005 I wrote an article called "A Consumers Guide To Mortgage Brokers and The Evil Yield Spread Premium" I syndicated it to promote my books and it was posted, reposed and printed around the world in at least 7 countries on 3 continents in English, French, and German … (2 comments)
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the real estate investment institute: Legal Business From Active Rain - 04/12/07 01:53 AM
I didn't know what to make of it when our daughter, Amy called Monday evening. "Dad I got a client today" she excitedly exclaimed! Now a new client is nothing to get excited about and I said so. Amy said "you don't understand!" Now she's been telling me that since she … (5 comments)
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the real estate investment institute: Wearing Two Hats, Guaranteed Incompetence Or The Only Way To Insure Competency? - 03/31/07 03:38 PM
My AR friend Ron Withers commenting on my blog: Fiduciary, Responsibility, Mortgage Brokers, and Evil wrights:
"Bill,
As I have stated previously, I do value your opinions and knowledge, among other things. Today, I was reviewing some book marked posts/links that dealt with fiduciary responsibility and also re-acquainted myself with the definition.
As … (22 comments)
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the real estate investment institute: Fiduciary, Responsibility, Mortgage Brokers, and Evil - 03/19/07 07:50 AM
Judge a man not by single words they expound, but rather by the character they demonstrate!
Fiduciary is possibly the most misunderstood word in real estate and lending. Brian and I disagree on the application but treat our clients similarly. Our differences over fiduciary may come from our diversity, Brian is also … (38 comments)
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the real estate investment institute: Feel Good Blogs Are Good For Your Soul - 03/06/07 05:46 AM
I'm on Active Rain, and others for the exchange of ideas on real estate! It also helps to promote my books, CDs and services, I preach real estate and mortgages. I claim mine is a kinder gentler approach to opportunity real estate investment and mortgage lending. I'd like to think that … (24 comments)
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the real estate investment institute: Good Faith Estimate Part 5 - 02/14/07 03:42 PM
Line 902 *Mortgage Insurance Premium
This is the PMI or MI paid in advance.
Line 903 Hazard Insurance Premium
This is the first year's cost of your home owners policy. This fee will be what it will be, it's better if this estimate is high.
Line 905 *VA Funding Fee
Fee charged by the VA.
All lines … (4 comments)
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the real estate investment institute: Good Faith Estimate Part 4 - 02/13/07 12:34 PM
Line 102 and 1203
Rarely used.
Line 1302 * Pest Inspection Fee
This depends upon local need. If required by lender see. Always required on VA loans.
Unnumbered Comparison To Broker (Not Paid Out Of Loan Proceeds)
This is the "Yield Spread Premium" paid by the lender/investor to the mortgage broker, if not for the YSP … (1 comments)
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the real estate investment institute: Good Faith Estimate Part 3 - 02/13/07 06:28 AM
Line 803 *Appraisal Fee
The estimate cost of the appraisal. This rarely varies except when additional inspection are required because of unfinished work or required repairs.
Line 804 *Credit Report
The cost of the credit report, this can go up as the actual lender may require additional reports or an electronic report may need … (1 comments)
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the real estate investment institute: Good Faith Estimate Part 2 - 02/12/07 12:24 PM
The Good Faith Estimate is an "ESTIMATE" of the cost of the loan you've applied for.
The lender is required to provided you with it and its' companion the "Truth in Lending" form within three days of your application.
We're going to go through it line by line, but the individual … (2 comments)
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the real estate investment institute: Good Faith Estimate Part 1 - 02/12/07 12:15 PM
Figures don't lie, but liars figure!
It is never so true as in "The Good Faith Estimate!" If that weren't bad enough for the real estate consumer the liars' figures get exponentially distorted, when applied to the "Truth In Lending" form! These are government mandated disclosures that lend an air of … (2 comments)
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the real estate investment institute: It's the last day of the year 2006 - 12/31/06 06:19 PM
Listed below is?
A. The posted wit and wisdom of William J Archambault Jr.
B. Bill's folly.
C. All of the above.
D. None of the above.
Your final answer is:
A. B. C. D.
I've posted 53 blogs since joining August 9, 2006, I hope some have been relevant and helpful. I've commented on 418 blogs … (5 comments)
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the real estate investment institute: Explaining Pre-Paid Interest - 11/21/06 01:34 PM
I read the musings of a brilliant but young mortgage man that he was having trouble explaining pre-paid interest, which is line 901 on the Good Faith Estimate form. I discuss this in my book "Get The Money / A Consumers Guide To A Successful Mortgage Application" but let me try … (12 comments)
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the real estate investment institute: A Little Sales Blog - 10/25/06 09:12 PM
I replied to David Spencer’s "Motivation blog and got to thinking about my first real estate broker. That got me thinking about all those sales classes. I’ve bloged about at least one before in an article called "Shut-up and Start Selling,"
I don’t want to get that detailed, but I remember … (4 comments)
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the real estate investment institute: 15 seconds to better your day - 10/25/06 12:22 AM
"Success consists of going from failure to failure without loss of enthusiasm." --Winston Churchill
That ‘s not a bad blog. But, those of you who’ve read my stuff know I’m a man of a few to many words. This is not about success or failure or even my fascination with quotes … (0 comments)
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the real estate investment institute: To Blog or not to blog? - 10/12/06 02:26 PM
To Blog or not to blog?
To respond to blogs or not respond?
That is the question.
Wether it is better to suffer the slings and arrows of outrageous...
Exposer (?)
Over the last few months I have become an active participant it this site and to a much lesser extent a competing site, Wanta … (3 comments)
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the real estate investment institute: Standing Before The Bar / Why I Hate Applying For A Loan - 09/04/06 10:28 PM
Standing Before The Bar / Why I Hate Applying For A Loan
I was 21 and out of the service just ten days when I went to work for a small loan company, a week later I was making loan decisions affecting peoples lives. Just two weeks more and I was … (4 comments)
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the real estate investment institute: Beat The Sharks - 09/01/06 01:18 AM
Traditional brokers real estate and/or mortgage may find this interesting, true buyers brokers (working for and being paid by the buyer) need to ad it to their tool box!
Beat The Sharks
Everyone who has ever dealt in the shark infested waters of foreclosure and pre-foreclosure investing knows this is not … (4 comments)
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