Foreclosure Wave 2020! …Is It Coming?
Tuesday, 28 July 2020
- Published in Real Estate Videos
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What’s the difference between a mortgage banker and a mortgage broker?
Friday, 20 December 2019
Question: “I’m shopping lenders for my home loan and one said she’s a mortgage banker. Is that the same as a mortgage broker?” Answer: Great question…and the answer is “no.” Mortgage BANKERThey handle everything in-house and lend you their own money, though they’ll probably sell the loan later. Mortgage bankers include banks, credit unions, and
- Published in Q&A - Home Financing Questions
Can a home seller legally require me to qualify with their lender?
Friday, 24 May 2019
Question: “I just made an offer on a home. I’ve been qualified by a mortgage broker I know, but the seller wants me to qualify with a lender they know. Is this even legal? I’m a private person and don’t want to share my personal information.” Answer: Yes, it is legal. What may or may
- Published in Q&A - Home Financing Questions
How do I get a good home loan rate?
Friday, 22 February 2019
Question: “We’re going to be buying a home in a couple of months and want to get our finances in order so we can get a good loan rate. What do you recommend?” Answer: Here are the Ten Commandments Of Getting A Home Loan: Thou shalt consult with a lender six months before getting a
- Published in Q&A - Home Financing Questions
Will Lenders Make a 30-Year Loan to a Senior?
Friday, 10 July 2015
Question: “I’m 63 years old and would like to move and buy a home in San Diego. Will lenders make a 30 year loan to a senior? That would mean I’d be 93 when the loan is paid off” Answer: Good news. Lenders are not allowed to discriminate based on age. If you qualify, they’ll
- Published in Q&A - Home Financing Questions
Refinancing Home Loans to Avoid Disaster Later
Friday, 13 February 2015
Question: “On my house and four rentals I have all adjustable mortgages and everything is going great. The rates vary from 2.5% to 3.5% and you can’t touch rates like that on fixed rates.” Answer: You didn’t ask, but I’m going to give you some advice. The conventional wisdom is that rates will go up
- Published in Q&A - Home Financing Questions
How to Refinance Without Paying Another 30-Year Mortgage
Thursday, 04 December 2014
Question: “We’d like to refi and get our rate down, but we’ve had this loan 10 years. So we just have 20 years left and don’t want to start over on a 30 year loan. Is there a way to get our current lender to just lower the rate or refinance the loan in place?”
- Published in Q&A - Home Financing Questions
Some Finer Points of 1031 Exchanges
Thursday, 17 July 2014
Question: “I sold a rental house for $400,000 and am doing a 1031 tax deferred exchange. There was no loan, so I have $375,000 in my exchange account. I’m buying in Texas and my agent there says I must buy for $400,000. Is he correct? I thought only had to use my cash from the
- Published in Q&A - Home Investing Questions
Are Rates Low Enough to Refinance Your San Diego Home?
Wednesday, 18 June 2014
Question: “Do you think rates are low enough to refinance?” Answer: I don’t know your current rate or whether you have a fixed or adjustable rate, so… If you have a fixed rate now and want another fixed rate: Depending on your loan balance and tolerance for paperwork, you want to at LEAST get a
- Published in Q&A - Home Investing Questions