David Saks

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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 

                                 When someone else puts their name on that loan application with you, whether or not their putting their credit on the line for you, or just acting as a partner in the deal, the lender wants to know as much about the co-signer as they can and will put that co-signe...
08/18/2008
                              There's not much to say regarding who's old enough to put their signature on a loan document and who isn't. These requirements vary from state to state but are pretty much in agreement with each other. As of 2008, the legal age for entering into a contract is 18 year...
08/18/2008
                               When your loan application has been received by the lender they'll start the loan approval process right away. This will involve verifying : 1. Your Credit history 2. Your Employment history 3. Your assets which include your bank accounts, stocks, mutual funds and r...
08/18/2008
                                    If you say that your living at the Waldorf-Astoria but your actually living in a trailer, with your boyfriend, mother or in your car, there's going to be a problem. Whan you apply for a big ticket item, the house or car, the lender wants to know where you live ...
08/18/2008
                                  This is an easy one.  You could be turned down for the loan if you say you've been in the house for seven years and it shows on the deed of trust that you bought the home five years ago. Maybe your landlords lease says that you signed the lease for the apartment ...
08/18/2008
                                     We all know that having a credit card is kind of like having a small personal loan that gives you a credit rating. By demonstrating that you can pay off small amounts of credit over time, on time, demonstrates to lenders that you're responsible with the loan t...
08/17/2008
                                             You could compare insufficient equity in your property to having insufficient funds in your checking account, in a way If you write a check on that checking account and it bounces, gets sent back, and you get slammed with overdraft fees, the banks not ...
08/17/2008
                                       Come on ! If the house isn't worth the amount of money your asking the lender to loan you, forget it ! The home might need lots of repairs. The home might be in negative amortization, meaning that you owe more money on the home that it's worth. The neighborh...
08/17/2008
                                  The banks and the lenders have specific guidelines under which they'll approve or deny a loan applicant. Remember that lenders and banks have different policies in relation to the way they will or will not make a loan. You should be absolutely clear with your len...
08/17/2008
                                A history of not paying your debts or not paying them on time will blow your credit ship out of the water and sink your chances for obtaining a loan. Lenders just won't buy a bad debt history ! Occasionally they'll stretch the debt to income ratio limit (which is u...
08/17/2008
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David Saks

May God Bless You, Always. David
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