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By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
    Buffalo Man Sentenced for Clean Air Act Violation Related to the Kensington Towers Project U.S. Attorney’s Office August 19, 2014 Western District of New York (716) 843-5700 BUFFALO, NY—U.S. Attorney William J. Hochul announced today that Rai Johnson, 35, of Buffalo, N.Y., who was convicted o...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
  The kitchen is the most used place in the home. So the way it's set up has a huge impact on the floorplan of the house. The most critical aspect of the kitchen is what we call a work triangle, which is created by the refrigerator, the oven and the sink. What the designer relies on, primari...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
What in the world are you going to do when you get turned down for your loan? Well, there might be several options available to you. Just because the lender denied your loan it doesn't necessarily mean that your chances of obtaining a loan have been flushed down the toilet. You should always...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
We all know the drill. There are just too many shysters and hucksters out there who get their jollies off on preying on anybody and every body, whatever their reasons may be, and usually it's because the poor borrower doesn't have enough good credit or enough income to qualify for a norm...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
Mortgage brokers do exactly what their title says, they broker loans for lenders to the borrowers. Mortgage brokers traditionally work what we refer to as the the wholesale lender, and they work as many of these wholesale lenders as possible in the process of trying to obtain the cheapest money....
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
A mortgage banker is, and may actually be, a separate company completely unaffiliated with any other company, thing or any entity which is perceived or known or inferred to have its own distinct existence (living or nonliving) for the purpose of originating loans. :-) This is a thing which, by t...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
What in the heck is the margin? The margin is a fixed percentage and a constant amount that is added to the index (see last post) to determine what an interest rate will be for the next period of an adjustable rate mortgage, or as an example, in one year. Most of the ARM margins vary somewhere b...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
Lender's have had to have some kind of way to determine what the rates are going to be for adjustable rate mortgages. We could say that rates are determined by the costs of Milk Duds or Junior Mints at the candy counter at the theater. If that were the case, no one could afford a loan. :-) T...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
      I wanted to provide you with a list of what I believe might be some of the important factors that cause lenders to set their interest rates the way that they do. I've discussed these factors with clients, customers and colleagues in days gone by. Feel free to add anything to the list th...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
It's simple ! You just pay more discount points in order to get a lower interest rate. Most lenders seem to agree that there is no absolute as to what to consider the costs to be in the final analysis. The rule of thumb is that 1 point (1 %) is equal to a one-eighth (0.125%) of a percentile ...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
  My twenty reasons to eliminate junk mail. Works for me ! How about you ?   Here they are !!!   1. The benefit of reducing negative environmental impact is nearly incalculable.   2. Labor costs would be reduced.   3. Excessive and uncompromising storage requirements would be eliminated from bul...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 2
When a buyer doesn't have all of the cash that they need to close, after they've coughed up the downpayment and other loan expenses, the seller might want to come to the rescue and make up the difference. Can this be helpful to the buyer? Can it be more helpful than reducing the price of...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
    Comparable Sales Method : Not Basement Bargains at Macy's I'm not an appraiser, although I've prepared a few CMA's and BPO's pro bono on napkins for pals at Starbuck's. Appraisers consider what they call the comparable sale method to be the most reliable means of calc...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
      Land Contraks :   We Don't Need No Stinkin' Moegagis ! :-) When the seller provides the primary financing for the buyer the buyer can use an alternative type of financing instead of a deed of trust or a mortgage which we refer to as the land contract. Is a land contract a popular ty...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
Nobody's forcing you to adhere to any religious principals or denomination here. What we are faced with is the legal right to get your property back after the foreclosure sale. This is what we call post-sale redemption, or the statutory right of redemption. Following the foreclosure sale, th...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
  Equitable Redemption : Not About Sinners ! In some states, throughout our great land, a defaulting borrower doesn't have the right to reinstate or cure their loan once the home has been foreclosed. What the borrower does have is the legal right we refer to as the equitable right of redempt...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
Acceleration : Puttin' Pedal to da Metal ???     Where not talkin' about fast cars and cheetas. When a motgage defaults, when the borrower fails to repay the loan or by trashing the covenants in the mortgage, the mortgagee (the lender) can contact the mortgagor (the borrower) and demand ...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
  Low Value : High Blood Pressure ? Most appraisers try to be as objective as possible when arriving at a conclusion that sets the value for the property. This is what we all refer to as the appraiser's opinion of value. If a low appraisal ticks your client off and you think that the apprais...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 0
I thought that I might share a few thoughts with you about foreclosure. Sudden and unexpected changes in our lives can really create a hardship. Anything that prevents you from making your mortgage payment could have serious consequences later. Here are a few of the warning signs to look out for...
By David Saks, Memphis, Tennessee
(The Real Estate Mart of Tennessee, Inc.)
Comments 2
      real estate fraud: Real Estate Fraud Report for August 13, 2014 - 08/13/14 08:51 AM       Related Links: ← Previous 1 2 3 4 5 6 7 8 9 … 94 95 Next → … (6 comments) real estate fraud: Mortgage Fraud Blog for August 13, 2014 - 08/13/14 08:48 AM     Mortgage Fraud Blog sends me an update email...

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