How do I become a mortgage broker or mortgage agent in California?
Some cool chateau pictures: Château de Boursheid Image by Marc Ben Fatma – check out Benymarc.com and like my FB Château de Boursheid (Castle of Boursheid ) If you would like to see a lot more properties click here… Question by Danielle: What’s the best place/way to apply for a home improvement loan? I inherited a home that seriously needs repairs. I don’t have great credit though and would like to apply for a low interest home improvement loan, sick but have no idea where to start. I do have access to a credit union. Thanks! Best answer: Answer by cafalldaviesBad credit is going to be your #1 problem, but if there is equity in the home you can borrow a Home Equity Line of Credit against it. Most commercial banks/credit unions will allow you to set up autopay on it so you don’t even have to think about making the payments… which is really good because if you don’t pay, you could lose the house. For most commercial banks you will need a minimum 680 FICO score or a cosigner with a higher score to get a home equity line, but credit unions often have lower standards, so you should check with your credit union. What do you think? Answer below! Question by Nelson: How do I become a mortgage broker or mortgage agent in California? I am fresh out of a college. Not just any college; a community college. And I need step by step how to become a mortgage broker or mortgage agent please. Thanks alot. Best answer: Answer by nostalgia80Get a job at the Mortgage Broker Office. at first, this site you’ll just answer phone calls and all, but eventually, you’ll either be a processor or agent. Know better? Leave your own answer in the...
Read More7 Reasons to Use a Real Estate Agent
by herzogbr Belize Real Estate Investment Hotspot Article by Real Estate Belize by Kenski1970 Homes in foreclosure process remains near historic high read more Today’s Real Estate News Find more about here… by Let Ideas Compete 7 Reasons to Use a Real Estate Agent Some people choose to use a real estate agent and some people choose to go it alone. One thing I have noticed over the years is that a number of seasoned investors looking in a new city will seek out a good agent while novice investors will frequently go it alone. I have even had a number of successful real estate agents seek out my help when they are moving to our city. Why do some of these seasoned investors choose to work with an agent? Below is a list of 7 benefits of using an agent. 1. Understand potential restrictions of the property. I recently heard a story from a friend at the city development office in Austin Texas. A couple had saved up for their retirement. They wanted to retire and live out in the hill country. They went to the foreclosure auctions. At the auction they purchased a lot for 500, cure 000. It had great views and they were going to build their dream house on it. They had researched the lot before the auction and found it was zoned SFR which means a single family residence can be built on it. After purchasing the lot they started plans to build their retirement house. At this time they discovered the lot was in the 25 year floodplain. My friend at the city development office explained that the lot could not be built on and was basically worthless. 2. Know about new developments that might affect a properties value. A good realtor will know of proposed new developments that might affect different properties in which a buyer is interested. Whether these developments are positive or negative can be valuable information when weighing different housing options. 3. Find potential problems with a property. It is always a good idea to have a home inspector look at a potential house. However, a Realtor is a good first line of defense to see if a house has inherent problems. A Realtor that can know about common problems, such as foundation or electrical, that affect a particular neighborhood. ]]> 4. Understand contracts specifics. Whenever you buy or sell a house you are entering into a large personal transaction. It helps to have someone on your side that deals with these types of transactions on a daily basis. A Realtor can help you understand contracts and can explain what is typical for your area. The most common pitfall into which I see unrepresented buyers fall is to become involved in an atypical contract that is not to their benefit. For instance a seller will sign an offer that has an option period that is 4 times longer than what is typical. A buyer might put in offers on multiple properties with long option periods. The buyer will wait and see if the market appreciates. If the market has appreciated the buyer buys the house at now and undervalued price. If the market has gone down the buyer walks away. 5. Misperception of a benefit of going it alone. Buyers frequently think that by not using a buyers agent they will get a better deal from the seller. In most situation the listing agent asks for 6 percent from the seller. If a buyer comes with an agent the listing agent splits...
Read MoreCan seller agent tell me that he has another party interested in the house, the seller has accepted our offer?
Question by catchi: home foreclosure HELP where do we go and how do we start refinancing? Wasn’t the bailout suppose to help homeowners refinance if they were facing foreclosure? How? Was there any agency or website to go to in order to start the process? Best answer: Answer by tkahrs12122No the bailout did not include help for delinquent homeowners. You need to deal with the refinancing on your own. Start with your current mortgage holder and see if the will lower the interest. What do you think? Answer below! Question by TD: What would be the best possible Home Loan I could get buying a co-op? I heard that you cant use the nothing down or 3% mortgages on a co-op purchase. Is this true I live in NY. WOuld I hav eto put down 10% no matter what. Also FYI Most one bedroom co-op go for atleast $ 130, hospital 000, and 10% of that is 13,000 and the HUD and FHA mortgage and program say that they can only give you 3% or 5,000 down. Best answer: Answer by Blue Octoberthe best possible home loan is going to depend on your credit. i want to suggest that you speak with your local banks…they know you the best, and they are local -in case you need them in the future. I am sure you are aware of the large amount of foreclosures across the nation. This lends itself to the way that banks and lenders are now doing business. The days of nothing or very little down are almost gone. You will need to come up with a min of 20% down and stick with a 30 years fixed no prepay penalty loan. Do not accept or get into any creative financing or ARMs (adjustable Rate Mortgages)…these loans have a high failure rate to foreclosures. stick with your local banks…good luck on your purchase 🙂 Give your answer to this question below! by eyewashdesign: A. Golden Question by anpresco: What factors do lenders consider when applying for a home loan? My boyfriend and I are applying for a home loan. The loan officer wants to use both of our credit and financial info for the application. I have both the better credit and longer employment history, seek but need my boyfriend’s additional income to qualify for the amount we need to purchase a home. Will his less than established credit hurt us, treat or will it not matter? Best answer: Answer by Beverly SYour loan officer makes the decision based on what you need to qualify. Most likely you won’t qualify with just one income. The fact that his credit is less established won’t hurt him as long as its not “bad”. Lenders are looking for 2 years steady employment, order 2 years good credit, & property of enough value & re-salability in case of problems. Sounds like you need him (boyfriend) & he’s gonna help not hurt. Add your own answer in the comments! Mortgage Rates : For The Week Ahead, view Lock Or Float? The Ginnie Mae (GNMA) 3.0% 30-year coupon finished better last week, symptoms too, viagra 60mg moving +17/32. Ginnie Mae mortgage bonds are linked to FHA and VA mortgages so mortgage rates for the FHA Streamline Refinance and VA IRRRL mortgage programs fell last … For more informaiton please visit here… Why is the FHA Streamline Refinance So Popular? 28, 2012 — /PRNewswire-iReach/ — Record low mortgage rates have encouraged many Americans to refinance their mortgage this year, and the most popular option by far has been the Federal Housing Administration's (FHA) Streamline...
Read MoreThe IRS agent who squatted in her own house
of robswatski Why is it difficult to get a home equity loan? products by Jessica Bennet If you would like more informaiton please visit here … More Stated Income Home Equity Loans articles Question by PatoJAM: FHA rules forbid people from having more than four home loans. Where to get a mortgage for my fifth house? Best answer: Answer by Expert RealtorWhen you have more than X number of homes, here you generally need to start getting commercial loans which are more diffcult to get. You can’t get an FHA loan for anything other than your own, cialis 40mg primary residence, or else you’ll be committing occupancy fraud. What do you think? Answer below! Financial CRIMES NOW POSE “THE Biggest THREAT” Image by Renegade98 FBI Utilizes Triage to Shift From Terror to Madoff, try Subprime Probes By Patricia Hurtado Dec. 22 (Bloomberg) — The FBI has engaged in “triage, about it ” taking agents off terror and other crimes to respond to a cascade of financial frauds such as the alleged Bernard Madoff Ponzi scheme, the head of the bureau’s New York criminal division mentioned. The Federal Bureau of Investigation was forced to reallocate its manpower in New York to deal with current frauds involving subprime mortgages, auction-rate securities and Madoff, who prosecutors mentioned confessed this month to bilking investors out of billion, FBI official David Cardona mentioned in an interview. “We have to function these circumstances which we believe pose the greatest threat,” he mentioned. “In this situation, it is a threat to the monetary technique and Wall Street.” Unique Agent Rachel Rojas, who once worked on tracing terrorist financing and al-Qaeda, now oversees 15 agents investigating mortgage fraud, said Cardona, a career agent with 23 years at the bureau. He declined to say how many other agents he has reassigned from anti-terror work to economic crimes. Rojas heads a single of two such mortgage-fraud squads that work with federal prosecutors in Brooklyn and Manhattan and other federal agencies, Cardona mentioned. The U.S. Justice Division has created a lot more than 40 mortgage-fraud job forces about the nation this year. Some of the FBI’s anti-terror knowledge has come in handy in investigating monetary crime, Cardona said. Agents who were hunting at bank-supplied “suspicious activity reports” or SARS to track financing of terrorism are now doing so to spot mortgage or other economic fraud, he said. Cardona’s workplace nevertheless handles multimillion dollar crimes, whilst referring smaller situations to state prosecutors or New York Lawyer Common Andrew Cuomo, Cardona stated. Big Case Skipped Some big cases are left to others. The FBI didn’t get involved in the investigation of Marc Dreier, a New York lawyer charged Dec. 8 with defrauding hedge funds out of a lot more than million. The Dreier case is becoming handled by investigators in the U.S. Attorney’s Workplace in Manhattan. “We do not chase every case,” he mentioned. “We do not have the resources.” To save agents time, the New York workplace has established Net sites and telephone hotlines for anonymous e-mail complaints and guidelines about mortgage fraud and the Madoff situation, Cardona stated. Considering that he arrived from Miami in May possibly, 2007, Cardona, 52, has overseen 400 agents who manage criminal situations. The New York workplace covers New York City, Long Island, Westchester and the five counties north of New York City. In addition to the major office, positioned just north of Wall Street, Cardona oversees 5 smaller satellite bureaus in Queens, White Plains, Extended Island, John F. Kennedy International Airport and Goshen, New York. Working With Others Beneath Cardona, the FBI’s New York...
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