David Saks Blog

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Education & Training - The Real Estate Mart of Tennessee, Inc. - TN LIC# 290452
David Saks is a musician, real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2010 

                                                              #554 In lease-option type situations the rent charged to the tenant is rarely higher than the fair market rent for the property. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. Fa...
Posted about 4 years ago
                                                      #553 It is never advisable for a buyer to consider raising cash for a balloon payment by refinancing his or her loan. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False Refinacing may ...
Posted about 4 years ago
                                                           #552 A seller will most likely consider using a seller second to supplement a new loan for a buyer when interest rates are high. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife pho...
Posted about 4 years ago
                                                            #551 A land contract may be used to finance the buyer's purchase of a home. This is the first mortgage. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. True The land con...
Posted about 4 years ago
                                                    #550 A land contract is usually acceptable for a seller second which will supplement an institutional loan. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False A land contract...
Posted about 4 years ago
                                                         #549 The rule of thumb, when qualifying a VA loan applicant, is that debt to income ratio should not exceed 55%. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False The d...
Posted about 4 years ago
                                                        #548 The VA will consider and allow secondary financing only if the total amount of the loan to be financed exceeds the appraised value of the property. Is this fact true or false ? Please remember to take your time. The solution is posted b...
Posted about 4 years ago
                                                         #547 A veteran is applying for a 400,000 dollar loan, which is the purchase price of the home, and has full VA entitlement. The home was appraised at 425,000 dollars. The required downpayment for the loan is 1.5% of the total loan amount, o...
Posted about 4 years ago
                                                     #546 Prepayment penalties are always a condition of underwriting a VA loan. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False Prepayment penalties are not allowed with a VA...
Posted about 4 years ago
                                                         #545 A veterans entitlement may only be restored after his or her VA loan is assumed and the one who assumes the loan is not a veteran. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. ...
Posted about 4 years ago
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David Saks

Memphis, Tennessee
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"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies

The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

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