Archive for November, 2009
Should We Dump Real Estate Investors?
When it comes to bailing out giant banks, huge companies and massive stock brokerages there’s no shortage of government interest and activity. After all, it’s in our national interest to protect investors — unless, of course, they’re folks who merely bought a house or two. The investor double standard is hardly hidden. It appears everywhere [...]
30Nov2009 | Peter G. Miller | 0 comments | Continued
What If Mortgage Walk-Aways Become Socially Acceptable?
There’s a certain glue that holds societies together and in the U.S. one of those unwritten standards is the idea that you don’t walk away from your home. Such community standards actually have a financial value. If walking away from a mortgage becomes socially acceptable then lenders will have more risk, interest rates will rise, [...]
22Nov2009 | Peter G. Miller | 1 comment | Continued
Real Estate Brokers Versus Salespeople — What’s The Difference?
A “broker” can be seen as someone licensed by the state and who works for another and for a fee. In effect, a broker is an “agent– who works for a “principal,– say a buyer or seller. As an agent, a real estate broker must uphold certain duties and obligations or his or her license [...]
21Nov2009 | Peter G. Miller | 0 comments | Continued
A Basic Guide To Real Estate, Mortgages & Taxes
Let’s be honest: April 15th is a day of reckoning, the moment when we find out what we really owe for taxes. In households nationwide wallets are drained and many who were rich on the 14th are greatly impoverished by the 16th. But for those with real estate the load is made lighter by tax [...]
11Nov2009 | Peter G. Miller | 0 comments | Continued
Mortgage Surprise? What Mortgage Surprise?
The most used word in the world of mortgage financing during the past few weeks has been “surprise,” as in, “oh my, cover your eyes and turn away from those poor wretched loans.” “The U.S. mortgage giant Freddie Mac said it would no longer buy those high-risk home mortgages that it deems to be the [...]
9Nov2009 | Peter G. Miller | 0 comments | Continued
How To Read The HUD-1
Since January 1st, 2010, all real estate transactions have been settled using a new HUD-1. The HUD-1 is a standardized form which allows real estate buyers and sellers to clearly understand the costs of their transaction. The original HUD-1 was developed as a by-product of the Real Estate Settlement and Procedures Act of 1974 — [...]
8Nov2009 | Peter G. Miller | 0 comments | Continued
Tales Of A Big Bank Refugee
In the eyes of big banking I am a sinner of the first magnitude. My offense is not over-drafts or bounced checks, but rather the undeniable fact that I am self-employed. I last held a job in 1971, and since then have managed to cobble together a reasonable existence as an author and consultant. Clients [...]
4Nov2009 | Peter G. Miller | 0 comments | Continued
How To Read The New Good Faith Estimate Forms
Since January 1, 2010 HUD has required lenders to use a new Good Faith Estimate form or GFE. This is important because whether you buy a mansion or a cottage, you want to know how much your mortgage is going to cost — not just the interest rate but all the fees and charges you’ll [...]
2Nov2009 | Peter G. Miller | 1 comment | Continued
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