David Saks

By
Education & Training - (retired) - TN LIC# 290452
David Saks is a musician, retired real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2008 

                                                       "C" credit might equate to no credit for some in today's lending environment. The borrower is facing considerably higher interest rates, Loan-to-value numbers come in at 75% to 80% of the appraisal, and it's just a tougher loan to risk, perio...
08/25/2008
                                                     Lenders are beginning to push the real strict risk thresholds here. This risk comes with a Higher Interest Rate, Loan-to-value is ususally at 80% to 85% of the appraisal, LTV might be as low as 75. And things are getting tougher by the minute....
08/25/2008
                                                  Things get a bit stricter here, but it's safe to say that your still in good territory if you meet the following criteris. I spoke with one of the local lenders and he told me that these are a few of the things that they look for generally if your...
08/25/2008
                                                    The difference in "A" and "AX" are that a few late payments are ok with this type of rating if your lender decides to brand you with it ! Here are a few of the fine points about the "AX" loan that I've discovered here and yonder. "AX" CREDIT   •...
08/25/2008
                                                     Just what exactly is "A" Credit ? Is this what the lender is looking for ? Times are changing and so are the lending requirements, and it's getting tougher. "A" CREDIT   • Excellent credit for the last two years • Job stability - two years in s...
08/25/2008
                                                  I thought that it might be a nice thing to alert you to a few facts about watching your back when your out in the field. This first tip is about dealing with strangers, and I'll make it brief. Never think for a moment that we're unapproachable or ...
08/23/2008
                                                   This is a clause that will alow a buyer to rollover a loan for a like period of time ( or perhaps a prescribed period of time) after the loan becomes due and payable in full. This type of clause is really useful in the case of a balloon payment w...
08/23/2008
                                                  Basically, when a contract is wrtten for real estate two types of contracts are used. 1. The Specific Performance Type 2. A Receipt and Option Type An 'earnest money' clause can define which is which. When earnest money is put up we consider this ...
08/23/2008
                                                What a buyer, or better yet a seller-financed buyer gets with this type of clause is some confidence. More specifically, confidence that a buyer or an investor will have relying on a specific income ceiling if leasing a property. As an example: Let'...
08/23/2008
                                          Subordination is a term that we're all familiar with. If you have two mortgages on a property and you refinace one of the mortgages, the subordinate mortgage, the second mortgage, is going to move up in the servicable pecking order; in other words, mortga...
08/23/2008
Rainmaker
1,570,124

David Saks

May God Bless You, Always. David
*
*
*
*
Spam prevention

Additional Information