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November 2010 Blog Posts (9)

Mortgage Bankers Weekly Update: Mortgage Purchase Applications Increase

Mortgage Bankers Association for the week of 11/24/2010

Market Composite Index: (loan application volume) increased 2.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1.1 percent compared with the previous week.

Refinance Index: decreased 1.0 percent from the previous… Continue

Added by Your Property Path on November 26, 2010 at 2:17pm — No Comments

Freddie Mac Weekly Update: Mortgage Rates Stable

30-year fixed-rate mortgage: Averaged 4.40 percent with an average 0.8 point for the week ending November 24, 2010, up slightly from last week when it averaged 4.39 percent. Last year at this time, the 30-year FRM averaged 4.78 percent.

The 15-year fixed-rate mortgage: Averaged 3.77 percent with an average 0.7 point, up slightly from last week when it averaged 3.76 percent. A… Continue

Added by Your Property Path on November 26, 2010 at 2:16pm — No Comments

Ca$h For Investors, Flippers & Commercial Properties! - 100% Financing + Fixup Ca$h! (Major Announcement)

Major Funding Announcement!

We eliminating our up front fee!

As we go into 2011 we determined to be a major lender

in Real Estate Investments, Business Acquisitions &

Commercial Loans!

100% Financing + Closing Costs + Repair Funds All Rolled Into The Loan!

Ca$h For Flippers & Commercial Properties - Fast Closings!

Cash for Commercial & Investment Properties + Business Acquisitions!

These terms do not reflect on our…

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Added by George Budinger on November 16, 2010 at 11:00am — No Comments

How Does The Foreclosure Freeze Impact Housing

The Optimists

Bank of America, JP Morgan Chase, Ally Financials GMAC mortgage division and PNC Financial, have all suspended home seizures in all 23 states where courts oversee foreclosures. Bank of America is halting foreclosures in all 50 states to examine its process. Past sales will stand, and if you are not already out of the house.…

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Added by Your Property Path on November 10, 2010 at 4:02pm — No Comments

FHA guidelines for conversion of primary residence to rental property

Thinking of converting my primary residence to rental. I don't think the guidelines have changed any since 2008 "Buy and Bail." I believe the guidelines for FHA are as follows:

at least 25% equity in residential home

80% of Gross rent applied from rental to be used for qualifying/additional income... or would they use (if filled) Sch. E?

1 year projected lease

proof of security deposits

Is that correct?

Additionally,…

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Added by Almateen Yazid on November 5, 2010 at 6:41am — No Comments

New Mortgage Program Will Help Millions

By some authorities, An estimated 5.5 million homeowners facing imminent foreclosure. The Obama Administration has provided some immediate relief with the HEMA program. HEMA will use up to $3 billion TARP to make funds available for unemployed homeowners and those suffering financial distress. Eligibility is designed to help those who have lost their jobs or are in great financial distress for 24 months. The program will offer up to $50,000 at 0% interest for 24 months to help homeowners… Continue

Added by Your Property Path on November 3, 2010 at 3:24pm — No Comments

National Apartment Survey: Rental Property The Better Investment

A Recent Survey

National Real Estate Investor and Marcus & Millichap

55% of all respondents to the survey believe that now is the time to buy apartments. Owners are beginning to see improvements in vacancy rates and rent rates are rising. We are coming off a low low bottom, but there is… Continue

Added by Your Property Path on November 3, 2010 at 3:23pm — No Comments

Debt to Income Ratios and AGI Adjusted Gross Income

This is my recent experience with Bank of America; however, it can happen with any lender.

I was recently denied a loan because of my DTI ratios. This would

have been my 2nd investment property purchase. I believe the reason is

because on my last investment purchase in 2009 I had 22,000 worth or

expenses that I deducted (above line deduction’s) on my sch. E and 1040.

You know..startup, repairs, cleaning, advertisement, etc... Thus,… Continue

Added by Almateen Yazid on November 2, 2010 at 7:48am — No Comments

More About Success in Real Estate Investing

“If you don't have a competitive advantage, don't compete.”

- Jack Welch

Back in May 2010, I wrote about gaining a competitive edge in real estate investing. Today I want to share with you other attributes in developing a successful real estate investing business. You will have thousands of

training, ebooks, CDs in the how to be successful in real estate investing. In my opinion the basics of real estate investing are not difficult to… Continue

Added by Pedro Gonzalez on November 1, 2010 at 12:30pm — No Comments