I had an interesting conversation at lunch yesterday about doing a “Wrap Around Mortgages” on a property, which keeps the current loan in place when the house sells. The buyer comes in with cash for the rest of the money, or they get a second mortgage for the difference, or the seller carries a 2nd […]

I spoke with an agent friend this AM, and he said that the buyer’s agent on his listing is giving credit for 100% of his commission, and he didn’t understand why! I told him it was likely because the buyer couldn’t source seasoned funds for that amount! By the way, he is 60 days into […]

I had a client come to me last week from an agent, and the client had a new job which is usually fine under the guidelines. This client was a little interesting, and I don’t want to call anyone a fraud, but here is what we got. Let’s say the buyer worked for Ralphs making […]

A couple of things I don’t write about often are Well Certs, Septic certs, roof certs, and health and safety items. Yeah, these are not common everyday things, but sometimes we run into properties that have a few issues, and they either get called out by the listing agent in the notes or they get […]

The new loan limits were released last week and will help get this market going again! Remember that the new loan limits will take effect on FHA and VA loans in January, but conventional limits apply now! Below are the limits and some other important features. The conforming Loan limit is $726,200.00 in Los Angeles […]