All Posts Tagged With: "rule"
Mortgage foreclosure rescue scams (finally) blocked by feds
New rules from the Federal Trade Commission will make it more difficult and costly for bogus loan modification and foreclosure rescue companies to operate nationwide. Unfortunately, the rules are weaker than the standards now used by several states. Under the Mortgage Assistance Relief Services rule, the FTC says that mortgage foreclosure rescue and loan modification [...]
20Nov2010 | Peter G. Miller | 0 comments | Continued
Did Condominiums Really Start In Rome?
Did Caesar and Nero really rule in a city filled with condominiums? Search through the Internet and the unavoidable answer is largely yes, but in fact there were no condos along the Tiber or near the Coliseum at the height of the empire. Don’t believe it? Get out your copy of the Oklahoma City University [...]
27Jul2010 | Peter G. Miller | 1 comment | Continued
Is Foreclosure Flipping Legal & Legit?
If by foreclosure flipping we mean quickly buying and re-selling a foreclosed property bought from a lender then there’s no reason why such a transaction cannot be legal and legit. Think about stock. You buy stock in the morning and sell it in the evening. You flipped the stock. Does anyone care? No. Think about [...]
14Feb2010 | Peter G. Miller | 0 comments | Continued
HUD Dumps FHA 90-Day Anti-Flipping Rule
Starting February 1st, HUD is suspending the FHA‘s 90-day anti-flipping rule for one year. This is a smart idea which should increase local home sales, help investors and create additional real estate demand (because more FHA financing will be available). The New Rule HUD says that under the new rule homes sold within the past [...]
19Jan2010 | Peter G. Miller | 1 comment | Continued
When Did The Mortgage Meltdown Begin?
It’s official. We now have a starting date for the mortgage meltdown. It was February 27, 2007, almost two-and-a-half years ago. It was on that date that Freddie Mac said it would no longer purchase subprime mortgages and high-risk mortgage-backed securities. Who says? The Federal Reserve Bank of St. Louis. It has come up with [...]
27Jul2009 | Peter G. Miller | 0 comments | Continued
Should I Buy A House In “As Is” Condition?
Question: We’re considering the purchase of a home on an “as is– basis. We understand that we should get a home inspection and other checks before we buy. However, isn’t the seller also supposed to tell us about any problems? Answer: Both “as is– and seller disclosure rules vary by state. In the general case [...]
2Sep2008 | Peter G. Miller | 0 comments | Continued
Should I wait until rates fall 2% before refinancing?
NO. The 2-percent myth is a fable that can cost you big money. Instead, consider this approach. Ask how much it will cost up-front to refinance. Calculate how much you will save each month. Divide your monthly savings into your up-front costs. Example: Say it costs $3,000 to refinance but you can save $60 a [...]
27Aug2008 | Peter G. Miller | 0 comments | Continued
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