Financing and Credit

This is an article I found on cnnmoney.com that talks about the return of subprime loans. They sill cater to people with loan credit scores but they are expensive loans. One difference between the subprime loans that are starting to be offered to people with lower credit scores is there are no ajustable rate loans being offered.

Borrowers with bad credit were shut out of the mortgage market after the housing bubble burst, but now a handful of small lenders are starting to offer subprime loans again.

Finding money for our deals can be difficult. It is something you are always looking for if you are an active investor. Recently, I was introduced to a great company that has helped me find lenders that are interested in making a deal instead of saying no.

This company has put together a very large pool of lenders and then has vetted those lenders. They have weeded out the bad and kept the good. There are a wide variety of lenders who will do all kinds of deals.

Contact me and I will be happy to pass this information along.

After spiking 8 percent in January, foreclosures filings have resumed their downward spiral RealtyTrac said today. Its U.S. Foreclosure Market Report for February notes that filings, including default notices, scheduled auctions, and bank repossessions or completed foreclosures, decreased by 10 percent from January and were 27 percent below levels one year earlier. There were a total of 112,498 filings during the month, the lowest monthly total since December 2006.

Many financial experts recommend people to pay off their homes as quickly as possible to reduce debt, but I don’t always agree with this strategy. They refer to debt as a lurking monster that will eventually destroy us if we don’t get rid if it as quickly as possible. I could not disagree more, and I have found many others that agree with me including Ben Stein!

Lets help you decide between loan types, and whether your situation means you need a construction loan, lot loan or land loan for financing a lot purchase and building a new home. This article gives you some more information about the particulars of Land and Lot Loans.

It’s safe to say that loans for vacant land are different than “purchase money loans” for buying already-built homes, and there are a number of reasons why banks treat land and lot loans differently. In this article we describe what those differences mean from a borrower’s perspective, including details about the loan terms, additional underwriting requirements and other characteristics of lot and land loans.

Lenders may Distinguish Between Lot Loans & Land Loans

Hello everyone!

I have been a member of this site for a long time now. I have met some wonderful people here. With that said, I am in dire need of your help.

Through my earlier investments and Real Estate deals, I was able to make some money and invest it into a small Liquor Store to be close to my family and have a stable source of income, since I have a special needs son who requires help with virtually everything.

In any event, my store was destroyed by Sandy. I wasn't able to get help from government, insurance, can't get a loan. I liquidated my roth IRA account just to keep it afloat. I am at the brink of closing down.

Real estate is one of the largest investments most people will make in their lifetime. However, it is also one of the safest investments to make. When you buy a home and maintain it for the long-term, the value is likely to increase. There will be times when the value dips and you find yourself wondering if you made the right decision. However, if

this is a home that you love and want to remain in, it is worthwhile. Before you do make any buying decision, understand the actual cost of this property to you.

Determine What You Can Afford

Buyers looking for a deal on a foreclosed property have good reason to scroll through the thousands of homes listed by Fannie Mae. In addition to low-down-payment financing and priority status for owner-occupants, the government-controlled mortgage giant has begun offering closing-cost assistance to qualified buyers.

Fannie Mae’s substantial inventory of foreclosed homes is marketed through its HomePath program. Some 31,000 properties are currently listed for sale at HomePath.com. Last year, the agency sold nearly 147,000 HomePath properties, according to recently filed financial statements.

Whenever the average person on the street purchases a property, he will need a mortgage to finance the purchase of that property. The average mortgage stretches over an extremely long period. Sometimes as long as 30 years. As long as you are paying that mortgage the lending institution, keep your house as security against that mortgage.

In the event that you are unable to honor your repayments, the bank might foreclose and reclaim the property to recover the money that they have loaned to you for the purchase of that property.

My team and I work in the real estate investing business in San Antonio. Some of us have plenty of experience with other types of real estate in other parts of the country. For example, I was invested in Virginia in rental properties for five years. This is not something I would ever wish to return to! I remember the bad old days of constantly worrying about a water heater going out, the fridge that would not work, the roof that sprung a leak, the clog in the kitchen sink. It was very rare that I could go a week without dealing with some type of problem on one of our properties.