Seller Financing News and Information

Real Estate Broker/Owner - Note Builders, Inc. Keller Williams
  Re: HARPHi all,I have been keeping my eye on the recently updated HARP guidelines. Thursday FNMA reported it was rescinding the "ability to repay" overlay from the new lenders responsibility on HARP. This added to the removal of the LTV appraisal requirement and is potentially allowing a refina...
These are precarious times in our country's history. As I reflect on the past year and the coming year, politics have taken the drivers seat to what is happening in our industry. I believe we are on the cusp of a paradigm shift that will forever change how we conduct our Real Estate transactions....
OCCUPY LA AND SANTA CRUZ BEGIN SET SIGHTS ON HALTING FORECLOSUREAn article on DSNEWS today states that “occupy” protestors are setting their sights on haltingforeclosures in California and across the country. The MERS scandal is still in the forefront of the newsas borrowers, investors, and servi...
Many See Dodd Frank As Necessary The collapse of MF Global and its CEO Jon Corzine has once again placed Dodd Frank in the forefront of the news.  Many Democrats have been pushing for the implementation of the law, while Republicans have been pushing for its repeal.  With MF Global in bankruptcy ...
HOME LOANS WILL BECOME MORE EXPENSIVE WITHOUT PRIVATE MORTGAGE INSURANCEOn Monday October 24th, it was announced that two PMI insurance companies were taken into conservatorship by the Arizona Department of Insurance. Claim payments will be mad at 50% with the other half deferred as a policy clai...
The data is in from the California Association of Realtors second quarter report on housing affordability. Housing affordability is the best it’s been in the San Diego area since the late 90’s. A family with a minimum income of $47,980 can afford an entry level home. With houses selling at reason...
I can remember in the early eighties at 20 sitting in a real estate practices class. I was deciding what I wanted to do with the rest of my life. Do I want to sell real Estate? Can I sell Real Estate. Can I make money at it? Can I own it, fix it up, sell it and make a profit? I was probably abou...
  Seller financing would include under the definitions of the SAFE Act, Carrying all or part of the purchase to a buyer of the home, a wrap around loan, AITD, lease option, lease purchase, contract of sale! The Safe Act final rule became law August 29 2011. One of the new laws  agents may be exem...
Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income, including the sale of single family homes, townhouses, co-ops, condominiums, and even rental income.   Definition: Unearned income – income derived from sources other than employment, such as interest and dividen...
Answer = INCOME, CREDIT, COLLATERAL!!Underwriting seller financed loans can be an arduous process.  With the SAFE Act final rule now in effect, how does the Real Estate Broker or Realtor navigate this process legally, ethically, and competently?  This is a common question asked of Note Builders a...

Terry Lewis

Seller Financing, Lending, Broker
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