the real estate investment institute: I Just Stole A Great Idea - 03/20/09 01:45 PM
Reverse mortgages to stop foreclosures!
So read the headline, unfortunately that's where it stopped.
If you're over 62 and in trouble a reverse mortgage might well be your salvation! With most past credit being irrelevant even, perhaps especially if you're in foreclosure you should consider this program.
I can hear all the nay-sayers now, but "we don't have 40% equity!" "That's not the way it's done!" "Nobody's done that!" "I never heard of such a thing!" And, on and on and on, adnauseam!
Well "There is always more than one way!"
At a time when so many claim to … (6 comments)
|
the real estate investment institute: Playing By The Rules Or Blind Conformity - 03/19/09 12:36 PM
Of course you believe you play by the rules!
But, do you even know the rules? Most people don't know the rules they just know how it's always been done.
Conformity is generally much more restrictive than the rules! Conformity is the mantra, the doctrine of the mundane and mediocre. Conformity is an excuse for failure! Conformity is the reason there are fewer of us today than there were two years ago! He conformed, is just as poor of an epitaph as, he had the right of way!
Conformity for it's own sake is not a virtue!
Non-conformity for … (6 comments)
|
the real estate investment institute: Three Real Estate Minutes Or Less # 6 - 03/17/09 06:46 PM
Today's subject: Upside Down 3 Minutes 5 Seconds
There is nothing here except the video!
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects.
You are invited to get involved! Comment, suggest subjects, respectfully criticize, let me know what your thinking.
Bill
William J Archambault Jr
The Real estate Investment Institute
http://www.billarchambault,com
http://www.realestatesage.info/
… (2 comments)
|
the real estate investment institute: That Is Not Fair So What Is Fair - 03/17/09 04:06 PM
So what is fair?
Is fair a natural state?
Is anything in nature fair?
Can anything be made fair?
Is there anything that approaches being totally fair?
Brian Brady wrote an excellent post on how consumers should dress to apply for a loan: How Should You Dress For Your Loan Application? it's the comments on that blog that bother me!
"Professionals" responding that it's not fair! They are right! It's not fair that anyone, consumer or real estate professional should have to dress for success! No one should have to dress to impress, so go ahead and dress for failure! … (5 comments)
|
the real estate investment institute: Three Real Estate Minutes Or Less # 5 - 03/13/09 06:07 PM
Today's subject: Appreciation 2 Minutes 26 Seconds
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects. Much of it may be simple vocabulary lessons, words as they are properly related to real estate and mortgage lending.
You are invited to get involved! Comment, suggest subjects, respectfully criticize, let me know what your thinking.
Bill
William J Archambault Jr
The Real estate Investment Institute
http://www.billarchambault,com
http://www.realestatesage.info/
… (4 comments)
|
the real estate investment institute: Three Real Estate Minutes Or Less # 4 - 03/12/09 10:47 AM
Today's subject: Alligators 2 Minutes 14 Seconds
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects. Much of it may be simple vocabulary lessons, words as they are properly related to real estate and mortgage lending.
You are invited to get involved! Comment, suggest subjects, respectfully criticize, let me know what your thinking.
Bill
William J Archambault Jr
The Real estate Investment Institute
… (3 comments)
|
the real estate investment institute: Three Real Estate Minutes Or Less # 3 - 03/11/09 02:16 PM
Today's subject: APR, Annual Percentage Rate Oops 3 minutes 3 seconds
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects. Much of it may be simple vocabulary lessons, words as they are properly related to real estate and mortgage lending.
You are invited to get involved! Comment, suggest subjects, respectfully criticize, let me know what your thinking.
Bill
William J Archambault Jr
The Real estate Investment Institute
http://www.billarchambault,com
http://www.realestatesage.info/
… (4 comments)
|
the real estate investment institute: Three Real Estate Minutes Or Less # 2 - 03/10/09 02:20 PM
Today's subject: Act 1 minute 38 seconds
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects. Much of it may be simple vocabulary lessons, words as they are properly related to real estate and mortgage lending.
You are invited to get involved! Comment, suggest subjects, respectfully criticize, let me know what your thinking.
Bill
William J Archambault Jr
The Real estate Investment Institute
http://www.billarchambault,com
http://www.realestatesage.info/
… (3 comments)
|
the real estate investment institute: Three Real Estate Minutes Or Less # 1 - 03/09/09 09:35 PM
Today's subject:Amortization 2 minutes 7 seconds
I am these days primary an author and teacher. With that in mind this is an on going series of short, three minutes or less videos on real estate subjects. Much of it may be simple vocabulary lessons, words as they are properly related to real estate and mortgage lending.
You are invited to get involved! Comment, suggest subjects, respectfully criticize, let me know what your thinking.
Please subcribe.
Bill
William J Archambault Jr
The Real estate Investment Institute
… (4 comments)
|
the real estate investment institute: Ernest Money - 03/08/09 10:29 AM
I've just read a blog where the clients are fighting over a $250.00 earnest deposit. Can you believe it $250.00!
With no mention of what the financing contingency clause said commentary is coming down strongly on both sides of the issue and several non-issues. One person even ranted illogically against mortgage brokers, it turns out that the lender was one of our largest banks.
As I said: "Who gets the money depends entirely on the contract." Unfortunately no one seems interested in the contract.
There was a great deal of concern over the amount of the deposit. Opinions ranged from it should … (12 comments)
|
the real estate investment institute: A Little Advice From Our Grandfathers REVISITED - 02/24/09 04:34 PM
As we get deeper and deeper involved in this extreme buyer's market it's time to return to basics, our Grand Father's basics! Probably your Great Grandfathers.
I got a call from a nice lady this she need to talk about financing a flip! A tough but doable deal with about a quarter million in profit potential. We talked, but it could have been easer and much more productive! That's what I want to talk about. Facts are facts! Put the facts in writing!
Back in 1974 I went to my first meeting with Chapter Number One of the Farm and Land … (4 comments)
|
the real estate investment institute: The Iron Is Hot Very Hot - 02/24/09 03:29 PM
Many, many people are waiting for low cost 4% mortgages. The unfortunate thing is they are passing up today's great opportunities for this pipe dream. The American Dream and system are being dismantled day by day those that wait may never have a chance again.
Every one wants a bigger and better deal so they do nothing. Those that succeed will take advantage of today's options which are great when compared to any ones experience.
As Mike Jones said so apply: "Strike While the iron is hot" Mike's Forecast: (February 24, 2009) Strike While the Iron Is Hot
Bill
William … (2 comments)
|
the real estate investment institute: Worth Looking In To - 02/20/09 03:38 PM
I have an idea! An epiphany! A Wow moment!
In January the reverse mortgage program started allowing people over 62 to purchase a home using a reverse mortgage up to 60% LTV I wrote about it in: Over 62? No Qualifying No Payments Then again in There Is Always More Than One Way / Then And Now . Today my friend Ron Withers writes about FL down payment grants in: Florida Housing's Mortgage Revenue Bond and Down Payment Assistance Program: Availability of Funds as of February 20, 2009 . Why not combine the two? That means that a couple over 62 … (4 comments)
|
the real estate investment institute: Are You A Victim Of Low Cost Mortgages? - 02/11/09 04:28 PM
There is no such thing as a mortgage being to low if you're paying it. If you're buying and some one else is paying the discount points! Low cost mortgages stimulate home purchasers and mortgage refinancing.
So how can any one be a victim of a low cost mortgage? Because of the law of unintended consequences! Short sighted thinkers in power, willing to sell their vote, to buy the gullible. In Get It Now! I wrote about foreign investors losing faith in us, but not all our available cash comes from foreign sources! Much of it comes from our own people. Low … (11 comments)
|
the real estate investment institute: Get It Now! - 02/10/09 05:15 PM
A knowledgeable young friend remarked that he though rates were going to go lower then stabilize for the long term. I have just two questions: "How?" and," Where is the money to come from?"
I'm going to ignore the political history of Democratic Presidents, that goes back to the nineteenth century. Certainly reality, history, precedent and logic can't compete with blind optimism.
I'd like to ask how? How can rates go much lower? If the banks are failing with the relatively higher rates we've experienced how can they survive with lower and lower rates?
The only way I can see rates … (6 comments)
|
the real estate investment institute: There Is Always More Than One Way / Then And Now - 02/05/09 11:23 PM
If you think we've got troubles today you should have been in the Midwest in 1973! We didn't have any money! Or, in California where they had so much money that they'd loan any amount on any thing and the only qualification was the ability to fog a mirror, more on that another time.
I was a young REALTOR® in Kalamazoo selling investment properties and homes when we went from money being hard to getin 1973 to impossible by 1974. My investor clients needed tax shelters. This was pre- Reagan and marginal tax rates went to 90%! That means that for … (6 comments)
|
the real estate investment institute: 14 More Words Of Wisdom - 02/04/09 01:09 PM
I think it was 1976 when after a class one of the new REALTORS® came up to me and gave me his card, rubber stamped on the back was this short ditty.
"No matter weather
you rent or buy
you pay for the
space you occupy!"
My student didn't know who wrote it and I've never been able to find out, but it was true then, true now, and it'll be true eternally!
Bill
William J Archambault Jr
The Real Estate Investment Institute
… (0 comments)
|
the real estate investment institute: Over 62? No Qualifying No Payments - 01/28/09 06:58 PM
I've avoided getting involved or studying reverse mortgages since they began. They held no interest for me, my students, or my clients. A good idea but an FHA program they rarely get it right. Worse they are not being marketed by those few FHA brokers/bankers I do trust.
Then I read a blog: Reverse Mortgages - Purchase a Home with a Reverse Mortgage - Part 7
If I read this correctly, a senior buyer/s can now biy a home putting 40% down plus closing cost, without qualifying and chose to make no mortgage payments!
If that doesn't raise your eye brows … (6 comments)
|
the real estate investment institute: History Revisited / Creative Real Estate - 01/21/09 04:42 PM
In the middle ages it was common for rich Christians to purchase "Indulgences" lust, gluttony, sloth, perversion, sin of all sorts could be practiced with license, by first negotiating an "indulgence!"
The poor were not above sin but their salvation depended upon "Penitence" the cost of which was demanded by the church and could be considerably more expensive than the pre-negotiate "Indulgence."
It might help to think of "Indulgences" as license and "Penance" as fines.
When a Cleric wanted to indulge in the pleasures of the flesh, he would purchase "Indulgences" from his own parish. Having been pre-forgiven he could … (14 comments)
|
the real estate investment institute: Fidelity Not Fanaticism - 01/14/09 07:55 PM
When dealing with customers and clients even those among us that deny, denounce, and evade fiduciary owe the client their fidelity! In a recent post by a friend, one of his commentors made a snide remark suggesting that another friend and my advice was part of the problem, not the solution to today's finical crises. The commentor didn't like the pragmatic advice we were offering, preferring a fanatic idealistic approach that probably all the readers including my friends and I would agree is the ideal, just impractical.
Fanatic idealism is great Saturday evenings or Sunday Mornings, but pragmatic fidelity serves our … (2 comments)
|
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.
;)
;)
;)
